Online Reporter
Nelson Gahadza
Business Reporter
Old Mutual Limited’s return to trading through the Victoria Falls Stock Exchange (VFEX) is expected to deepen Zimbabwe’s capital markets, improve market liquidity and strengthen the country’s position as a regional investment destination.
The listing makes Old Mutual the 21st counter on the United States dollar-denominated exchange, marking the return of one of Zimbabwe’s most recognised blue-chip companies to the local bourse after years of suspension.
Speaking at the listing ceremony this morning, ZSE Holdings chairperson Caroline Sandura described the development as a landmark moment for Zimbabwe’s capital markets, saying it was the culmination of years of engagement between policymakers, regulators, the exchange and Old Mutual.
“Today’s listing is a product of constructive engagement and reflects the willingness among all stakeholders to pursue solutions that strengthen Zimbabwe’s financial markets while balancing the interests of investors, issuers and the broader economy,” she said.
She said Old Mutual’s return would significantly expand investment opportunities on the exchange and boost trading activity.
“As the 21st listed security, Old Mutual significantly broadens the quality and depth of investment opportunities available to local, regional and international investors on the VFEX. Its inclusion is expected to enhance liquidity, improve market visibility and strengthen the VFEX’s position as Zimbabwe’s international financial market,” she said.
Mrs Sandura noted that investors had long expressed a desire to trade Old Mutual shares, adding that the listing had addressed a major gap in the local investment landscape.
“For many investors, the absence of Old Mutual Limited created a significant gap within the investment community. Today, that aspiration becomes reality,” she said.
Victoria Falls International Financial Centre (VFIFC) Chief Legal Officer Meluleki Sibanda said the listing demonstrated growing confidence in Zimbabwe’s financial markets and reinforced the country’s ambition to become an international financial hub.
“This is not merely a corporate achievement. It is another important vote of confidence in Zimbabwe’s capital markets and in the future that we are building together,” she said.
She added that recent international recognition of the VFEX had further strengthened the investment case for Zimbabwe.
“With Zimbabwe’s VFEX mentioned as Africa’s best-performing market, backed by strong corporate balance sheets in US dollar terms, Old Mutual, this is the right place that you are coming to,” she said.
Sibanda said the listing sent a strong message to global investors about Zimbabwe’s improving investment environment.
“Old Mutual’s decision today demonstrates confidence in Zimbabwe’s financial architecture and sends a powerful signal to regional and international investors that our markets are maturing, our institutions are strengthening and our ambition is matched by action,” she said.
She added that the Victoria Falls International Financial Centre would continue providing an internationally aligned regulatory framework aimed at attracting fresh capital, facilitating cross-border investment and ensuring high standards of governance and investor protection.
The VFEX, launched in 2020 as a subsidiary of the Zimbabwe Stock Exchange, is Zimbabwe’s foreign currency-denominated exchange and forms part of the Victoria Falls International Financial Services Centre, which seeks to position the country as a regional financial hub.
