Story by Tichaona Kurewa
THE Victoria Falls Stock Exchange (VFEX) is on a growth trajectory with a more than 400 percent increase in market turnover during the first quarter of the year.
In its 2024 first quarter report, the Victoria Falls Stock Exchange (VFEX) revealed that it recorded a tremendous 443.05 percent increase in total market turnover from US$2.2 million in 2023 to US$12.1 this year.
Volumes also increased to around 92,4 million in the first quarter of the year from 9,2 million in the same period last year representing an increase of over 800 percent.
In terms of number of trades, the first quarter of the year witnessed 2,8 thousand trades compared to 814 last year, representing a 200 percent increase.
The report also revealed that market capitalisation of the listings in the first quarter recorded a 23.23 percent increase from the 2023 figure of 990 million.
Compared to the fourth quarter of last year, the first quarter of 2024 recorded an increase of over 10 percent in turnover to US$12,1 million up from around US$11 million.
The Victoria Falls Stock Exchange (VFEX) has to date attracted 15 counters.
Market watchers described the achievement as an epitome of an institution justifying the purpose of its existence.
The VFEX listings are drawn from various stakeholders of the economy, including mining, agriculture and manufacturing.
Product diversification is expected to be increased at the VFEX through the listing of new products such as Real Estate Investment Trust, exchange traded funds, fixed income instruments, carbon credits together with the introduction of the commodities exchange.
