Story by Yolanda Moyo
THE Victoria Falls Stock Exchange (VFEX) has recorded a major milestone with the listing of its first-ever Exchange Traded Fund (ETF), following the debut of the First Mutual Wealth (FMW) Gold ETF on the United States dollar-denominated bourse this Friday.
The listing also marks the 21st counter on the VFEX, strengthening the exchange’s push to diversify investment products and deepen capital markets.
The FMW Gold ETF is designed to give local investors exposure to international gold prices without the challenges associated with physical gold ownership.
The fund tracks gold-linked assets listed on the Johannesburg Stock Exchange (JSE), providing Zimbabwean investors with access to foreign blue-chip assets through a liquid and regulated investment vehicle.
The launch attracted strong market interest, particularly from retail investors.
Although the VFEX had targeted a 30 percent public spread, official figures released on Friday showed retail investors accounted for more than 60 percent of total subscriptions, significantly exceeding expectations.
Market analysts say the successful listing could open the door for more commodity-linked investment products on the exchange.
The development comes as Zimbabwe continues efforts to modernise its financial sector, broaden investment opportunities and strengthen the Victoria Falls Stock Exchange as a regional investment hub.
