Chronicle Editor
Senior Business Reporter
The Victoria Falls Stock Exchange (VFEX) has launched an online trading platform designed for retail investors, a development said to be a convenient way to buy and sell securities.
Since the launch of VFEX in 2020, trading has mainly been dominated by institutional investors and from the feedback received, retail investors would also like to participate on the VFEX.
VFEX is a subsidiary of the Zimbabwe Stock Exchange (ZSE), launched in 2020 as part of efforts to attract global capital and restore foreign investor confidence in Zimbabwe’s capital markets and help companies raise capital in foreign currency.
In an update, ZSE chief executive officer, Mr Justin Bgoni said the online platform is in response to the needs of clients.
“The Victoria Falls Stock Exchange (VFEX) is pleased to announce the launch of the VFEX Direct, an online trading platform specifically designed for retail investors.
“VFEX Direct provides investors with an easy and convenient way to buy and sell securities on the Victoria Falls Stock Exchange,” he said.
He said VFEX will continue to explore initiatives that provide financial inclusion.
According to VFEX, investors would be required to open a foreign currency account (nostro) with any Zimbabwean bank.
The foreign currency trading platform offers a raft of incentives including tax exemptions on capital gains and the ability to repatriate funds from a country where foreign exchange is in short supply to attract global capital.
Since inception, the listed companies on VFEX have grown to four counters, namely SeedCo International, Padenga Holdings, Caledonia Mining Corporation, and Bindura Nickel Corporation.
Online Reporter
derick.khumalo