Victoria Falls Stock Exchange takes shape

By Luckmore Safuli
ZIMBABWE Stock Exchange is finalizing modalities for the opening of Victoria Falls Stock Exchange (VFEX) offices in the resort town in line with country’s thrust to transform the tourism capital into a fully-fledged offshore financial services centre.
Officials from the Zimbabwe Stock Exchange recently visited the resort town to engage several stakeholders and to inspect various properties as the authorities move towards operationalizing the much-anticipated stock exchange.
ZSE Chief Executive Officer Justin Bgoni said the exchange which will be launched soon continues to generate a lot of interest from many international firms and investors.
“Now we are going to the phase of establishing presence in Victoria Falls. We are getting very close, this is the last phase although there are few things that we need to do but when you start looking for offices that means you are ready,” he said.
The stock exchange which is being viewed as a driver for investments into the domestic economy and entire region is also expected to enhance the attractiveness of the resort destination and create high quality jobs.
“The first thing in terms of benefits is in terms of prestige. This becomes the first town outside Harare to have a Stock Exchange. Bulawayo used to have it but it was closed. The most important thing about the exchange is in terms of high quality jobs,” he said.
According to the ZSE boss negotiations are being made with equity partners who are eager to partner the exchange. With the listing requirements having been announced and the operating license secured, the responsible authorities are now finalizing the clearance and settlement framework.

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