Story by Tichaona Kurewa
THE Victoria Falls Stock Exchange (VFEX) recorded significant growth last year after surpassing its performance targets in 2023.
Key indicators released by the VFEX demonstrate a surge in trading activity and market capitalisation, signaling a positive trajectory for the young exchange.
Total market turnover skyrocketed by a remarkable 117%, climbing from US$26.3 million in 2023 to US$57 million in 2024.
The market capitalisation also experienced a substantial increase of six percent, reaching US$1.3 billion last year compared to 1.2 billion United States dollars in 2023.
Increased trading activity was also noted during the year under review with the number of trades executed on the VFEX surging by 31% in 2024, up from 796 in 2023, indicating a significant rise in investor participation.
Business consultant, Dr Farai Musamba, indicates that the VFEX has performed beyond expectation.
“This was a commendable performance in a challenging environment in which the drought greatly affected the country’s economy. This performance gives confidence that the bourse is consolidating its position on the capital markets in the country and the region. Considering the growth trajectory that the VFEX is in, it is expected that it will play a prominent role in the country’s and the region’s economies as it enables companies to raise capital in hard currency. The region will also benefit from the VFEX as companies listed on the bourse will find it easier to fund their expansion into the region. Already some of the companies listed on the bourse have operations in the region. This is likely to continue.”
The Victoria Falls Stock Exchange (VFEX) has set an ambitious target of attracting at least six new listings this year, adding to the current six.
VFEX is actively engaging companies across various sectors, including mining, agriculture, tourism, and technology, to encourage them to consider listing on the United States Dollar-denominated exchange
