VFEX to add more security types on the exchange

Business Writer

The Victoria Falls Stock Exchange (VFEX) says the first half of 2024 went on positively as it continues to experience steady growth as the market is performing well.

VFEX is a subsidiary of the Zimbabwe Stock Exchange (ZSE) established to kick start the Offshore Financial Services Centre (OFSC) earmarked for the special economic zone in Victoria Falls.

“The VFEX Direct platform also continues to thrive as more and more investors leverage its convenience.

“We are actively exploring adding new security types to the exchange soon. This more comprehensive selection will give the investor more diversity to build a strong and well-rounded portfolio,” VFEX said in its Q2 2024 newsletter.

VFEX said it is creating a commodities exchange to provide an even broader range of investment opportunities for the investors.

“The commodities rules await gazetting by the Ministry of Finance, Economic Development and Investment Promotion.

“All key personnel for the Commodities Exchange, within the VFEX, have been assembled and are currently developing process flows and other procedures necessary for the Commodities Exchange,” VFEX said.

According to VFEX, the number of trades increased by 35,78 percent between Q2 2023 and Q2 2024 and turnover experienced significant growth in Q2 2024 from Q2 2023 as it went up by 52,8 percent.

During the second quarter of 2024, the market capitalisation gained by 2,46 percent to close at US$1,25 billion.

VFEX said there was a marginal increase in trading activity in Q2 compared to Q1 as the number of trades executed went up by 6,39 percent, indicating a slightly more active quarter.

The number of settled trades increased by 6,39 percent in Q2 and VFEX said this suggests that the rise in trading activity was accompanied by a successful settlement of trades.

The total value traded on the VFEX declined by 16,82 percent in Q2 and VFEX said this indicates that even though there was more buying and selling activity, the size of the individual trades decreased on average.