The Securities and Exchange Commission of Zimbabwe (SECZIM) has licensed the Victoria Falls Stock Exchange as a securities exchange, paving the way for its scheduled opening.
In a statement issued on Tuesday, Victoria Falls Stock Exchange Limited (VFEX) Chief Executive Officer, Justin Bgoni said they are now finalising the listing and membership requirements, among other things, and the completion of these processes will enable VFEX to be launched. The statement read:
The Victoria Falls Stock Exchange Limited (“VFEX”) is pleased to advise stakeholders that it has been granted a license to operate a securities exchange by the Securities and Exchange Commission of Zimbabwe (“SECZ”) in accordance with the Securities and Exchange Act, Chapter 24:25.
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.
The completion of these processes, which is imminent, will enable VFEX to be launched. The market will be updated on the exact date when VFEX will go live.
VFEX wishes to thank all stakeholders including the Ministry of Finance and Economic Development, Securities and Exchange Commission of Zimbabwe, Reserve Bank of Zimbabwe and market participants for the assistance rendered to date.
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Chief Executive Officer
Victoria Falls Stock Exchange Limited