Zimbabwe’s Finance Minister, Mthuli Ncube this Friday officially opened the Victoria Falls Stock Exchange (VFEX) thereby kickstarting the operationalisation of the Victoria Falls Special Economic Zone (VFSEZ).
The VFSEZ is one of the key initiatives being implemented by the Government in a bid to stabilise the economy and attract foreign direct investment.
Officially opening the Stock Exchange, Ncube said the VFEX would be a game-changer in the trading of securities in the country.
Ncube added that the platform will also be a channel for portfolio investments and foreign direct investment in the rest of Africa in hard currency. He said:
This will reduce foreign currency and settlement risk for our international investors. The launch of VFEX will also deal with exchange rate risk from portfolio investment into the country.
The Victoria Falls Stock Exchange is a wholly-owned subsidiary of the Zimbabwe Stock Exchange (ZSE) and is expected to help reduce foreign currency and settlement risks facing the economy.