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Oliver Kazunga, Senior Business Reporter
THE Victoria Falls Stock Exchange Limited (VFEX) has been issued with a licence by the regulatory authorities to operate a securities exchange and the bourse is finalising modalities to start trading soon.
VFEX is a wholly-owned subsidiary of the Zimbabwe Stock Exchange (ZSE) and it would be denominated in foreign currency and targets foreign investors as well as global capital markets especially the mining industry.
In a statement, ZSE chief executive officer Mr Justin Bgoni said the market would be updated on the exact date when VFEX will go live.
“The VFEX is pleased to advise stakeholders that it has been granted licence to operate a securities exchange by the Securities and Exchange Commission of Zimbabwe in accordance with the Securities and Exchange Act, Chapter 24:25,” he said.
“VFEX is now finalising the listing and membership requirements, setting up of the trading and depository systems as well as modalities on the clearing and settlement of transactions,” he said.
Online Reporter