Online Reporter
Business Reporter
ZIMBABWE has established a comprehensive regulatory architecture for the Victoria Falls International Financial Services Centre (VFIFSC), positioning the hub as a formidable competitor to global offshore giants like Dubai and Mauritius.
Through a series of statutory instruments (SIs) gazetted by the Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube, the Government has created an integrated ecosystem designed to attract global capital, digital assets and specialised insurance services.
At the core of the regulations is SI 68 of 2026, which serves as the constitutional engine room for the hub by vesting the VFIFSC with sweeping supervisory powers, including the authority to grant judicial immunity to its staff for actions performed in good faith.
The regulation introduces robust resolution powers, such as a “bail-in” tool that allows the regulator to recapitalise failing firms by converting debt into equity, thereby ensuring the burden of financial failure is borne by investors.
In a significant move towards technological integration, SI 65 of 2026 authorises the testing and development of cryptocurrencies, smart contracts and artificial intelligence (AI) within a supervised fintech lab.
The “Sandbox” environment allows startups to innovate without the immediate constraints of the Banking Act, while remaining grounded in ethics through a mandated “human-in-the-loop” requirement for AI services to prevent automated bias in robo-advisory and credit scoring.
SI 67 of 2026 establishes a rigorous insurance framework characterised by the strict segregation of assets, legally “ring-fencing” life insurance funds from general commercial risks.
Furthermore, the introduction of protected cell companies (PCCs) provides a high-demand feature that enables international firms to manage multiple, legally independent risk portfolios under a single corporate structure.
SI 66 of 2026 mandates a specialised legal lane through the newly established Victoria Falls International Arbitration Centre.
By requiring all IFSC participants to enter into arbitration agreements, the framework ensures that commercial disputes are resolved in a streamlined, expert-led and private manner outside the traditional court system.
SI 61 of 2026 outlines a transparent, US dollar-denominated fee schedule including a US$100 000 granting fee for full banking licences and specialised costs for crypto exchanges and blockchain analytics firms.
High-end e-casinos and sports betting entities are also integrated into the hub and are required to pay a US$100 000 fee to be granted a licence, alongside a 5 percent gross revenue levy.
The corporate landscape is further defined by SI 64 of 2026, which creates a dedicated legal jurisdiction and establishes an independent registrar to oversee the incorporation of companies.
The SI bolsters investor confidence by defining the protection of class rights, setting high standards for directors and secretaries, and mandating transparent governance through strict rules for meetings and clearing houses.
SI 63 of 2026 provides the definitive legal basis for securities, capital markets and collective investment funds, cementing VFIFSC as a premier destination for international finance.
VFIFSC was conceptualised as a specialised offshore economic zone to transform Zimbabwe into a global gateway for hard-currency investment.
Formally declared in 2022, the centre operates under a regulatory framework designed to provide tax incentives, exchange control exemptions and a stable environment for international banking, insurance and asset management.
The Victoria Falls Stock Exchange (VFEX) serves as the primary capital markets pillar for the broader financial services centre.
