Online Reporter
VFEX surges 34pc as investors seek hard currency stability
Martin Kadzere
The Victoria Falls Stock Exchange (VFEX), a US dollar-denominated bourse, has recorded an impressive 34 percent year-to-date performance, a substantial leap from the 15 percent gain it achieved last year.
Market capitalisation swelled by 28,7 percent to US$1,65 billion, adding US$200 million since August 29.
This was partly due to the strong performance of existing companies and the recent listing of Kavango Resources.
The growth solidifies the exchange’s reputation not just as a trading venue, but as a long-term investment platform for building wealth and achieving financial security.
Analysts say the VFEX’s unique operating model, which allows for transactions in United States dollars within an International Financial Services Centre, is a powerful draw for both domestic and international investors.
This structure provides a stable environment and the opportunity for hard-currency returns.
The head of markets at VFEX, Mr Robert Mubaiwa, recently noted a significant and growing interest from mining companies seeking fresh capital.
The exchange has already facilitated successful capital raises for several firms.
Caledonia raised US$12 million, while Karo Resources secured US$36 million, with US$25 million coming from local sources.
Eagle Reit and Invictus each raised US$19,5 million.
Mr Mubaiwa emphasised the bourse’s reliability and efficiency, saying that every trade since its inception in 2020 has been settled on time.
This perfect settlement record is a crucial confidence builder for investors, ensuring a secure and dependable trading experience.
