By Stanley James
EXPORT incentives for firms listing on the Victoria Falls Stock Exchange (VFEX) are bearing fruit, with Caledonia Mining Corporation being approved to trade its shares on the US dollar market next month.
The Government’s introduction of export incentives allowing firms trading on the Victoria Falls Stock Exchange – VFEX to retain 100 percent earnings has seen firms submitting proposals to trade on the market.
Zimbabwe Stock Exchange Chief Executive Officer Justin Bgoni confirmed the approved listing of gold producer Caledonia Mining Corporation, further explaining how the firm complied with stipulated requirements.
“Indeed, the listing has been approved, this follows necessary steps that we undertook to analyse its impact and how it can sustain returns in light of what we are doing on ensuring the full value of dividends to the relevant investors,” he said.
He also gave details with regards to proposed new listings on the VFEX.
“More counters seek to trade on the market and as such we are confident that once we closely look at what they want then they can be able to trade and list on the market in light with the set provision of laws that govern stocks in the country.”
The Victoria Falls Stock Exchange (VFEX) is a subsidiary of the Zimbabwe Stock Exchange established to kick-start the Offshore Financial Services Centre (OFSC) earmarked for the special economic zone in Victoria Falls.
Its trading currency is United States Dollars and as such, dividends to shareholders are paid out in USD currency or any other convertible currency.