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HARARE – Financial services group Old Mutual Limited is set to migrate its Zimbabwe secondary listing from the Zimbabwe Stock Exchange to the Victoria Falls Stock Exchange (VFEX), a move that will allow local shareholders to resume trading after a six-year suspension.

The proposed migration marks the end of one of Zimbabwe’s longest-running capital market disruptions, with Old Mutual shares having remained suspended from trading on the Zimbabwe Stock Exchange since June 2020.

The suspension followed government intervention in Zimbabwe’s equity market after authorities temporarily halted trading on the ZSE, arguing that certain dual-listed counters were contributing to instability in the foreign exchange market.

At the centre of the dispute was the Old Mutual Implied Rate (OMIR), an unofficial exchange rate derived from the price differential between Old Mutual shares listed in Harare and Johannesburg. Although investors and financial markets widely used the implied rate as a benchmark for determining the market value of the Zimbabwe dollar, Old Mutual itself neither calculated nor controlled the exchange rate mechanism.

According to the company, the past six years have been characterised by continuous engagement with government, financial regulators and the country’s stock exchanges in an effort to restore trading for Zimbabwean investors.

In a statement announcing the proposed migration, Old Mutual said the Victoria Falls Stock Exchange has matured sufficiently to provide a credible alternative listing venue.

The company noted that the US dollar-denominated exchange has developed greater market depth, improved liquidity and expanded investor participation since its establishment, making it an appropriate platform for the resumption of trading by Zimbabwean shareholders.

The development was first reported by newZWire, which highlighted the significance of the move for both investors and Zimbabwe’s capital markets.

Subject to regulatory approval, the migration will enable Zimbabwean shareholders to buy and sell Old Mutual shares once again after years of being unable to access liquidity from one of the country’s largest listed financial institutions.

The company said investors would also continue receiving dividends while benefiting from trading on a United States dollar-denominated exchange, reducing exposure to local currency volatility.

The VFEX also offers several incentives designed to attract investors, including favourable tax treatment, foreign currency settlement and unrestricted capital repatriation for qualifying investors.

The proposed migration also reflects the growing prominence of the Victoria Falls Stock Exchange within Zimbabwe’s financial markets.

Since launching in 2020, the exchange has positioned itself as Zimbabwe’s international financial market, targeting foreign investment through US dollar-denominated securities and a more liberal regulatory framework than the domestic Zimbabwe Stock Exchange.

According to figures released by Old Mutual, average annual turnover per listed company on the VFEX has increased dramatically from approximately US$300,000 in 2021 to around US$7 million in 2025, illustrating the exchange’s rapid growth in liquidity and market activity.

Market analysts say Old Mutual’s proposed transfer represents an important milestone in the development of the VFEX. As one of Africa’s largest financial services companies with operations across multiple countries, the group’s presence could significantly enhance the exchange’s profile among regional and international investors.

The migration also carries broader implications for Zimbabwe’s capital markets. Old Mutual has historically been regarded as one of the country’s most influential listed companies, with its shares widely held by pension funds, insurance companies, institutional investors and retail shareholders.

Restoring liquidity to the counter is expected to improve investor confidence while strengthening overall activity on the Victoria Falls Stock Exchange.

For Zimbabwe’s financial markets, the proposed move also signals the continued evolution of the country’s dual-exchange system. While the Zimbabwe Stock Exchange remains the primary domestic equity market, the VFEX is increasingly emerging as the preferred platform for companies seeking foreign currency trading, international investment and reduced currency risk.

If approved by regulators, Old Mutual’s migration will not only restore trading rights for thousands of Zimbabwean shareholders but also reinforce the Victoria Falls Stock Exchange’s ambition to become a regional financial centre and a gateway for international capital into Zimbabwe.

The post Old Mutual Seeks VFEX Listing to Restore Zimbabwe Share Trading After Six-Year Suspension appeared first on The Zimbabwe Mail.

JOHANNESBURG, South Africa – Groups of anti-immigration South Africans seized foreigners from their homes in Johannesburg on Thursday ​and handed them to police in a hardening of protests that have sown fear ‌in communities and strained ties with some countries.

In Johannesburg’s Alexandra township, a Reuters reporter saw protesters breaking down doors and entering houses where they believed undocumented immigrants were hiding.

They escorted the people to police vans where they were taken away, including a ​woman and a small child from Malawi. Another man who was apprehended by the marchers told ​Reuters he was in the country legally.

“I am a ZEP holder,” said the ⁠Zimbabwean national, Total Mhlanga, referring to the Zimbabwean Exemption Permit which allows tens of thousands of nationals ​to live and work in South Africa.

 

 

In Soweto, anti-immigrant protesters marched through town wielding sticks and flags, with ​plans to go search for undocumented immigrants. Several of the flyers for Thursday’s protests advertised a “peaceful march” followed by “door to door”. Another march took place in Durban on the east coast.

South Africa, where millions of people are unemployed, has seen a ​surge in anti-immigrant sentiment in recent months, culminating in nationwide protests on June 30, an informal deadline set ​for undocumented immigrants to leave the country.

The most prominent leader of the movement, former radio presenter Jacinta Ngobese-Zuma, said on ‌that day ⁠that protests would take place every Thursday until demands were met.

Her group, March and March, has painted undocumented immigrants as the source of South Africa’s economic problems and is demanding tighter border controls, mass deportation, and for schools and health centres to serve South Africans first.

“We are walking around doing door to door ​removing foreigners,” said a community ​leader, Bongani Msomi, at ⁠the march in Alexandra.

President Cyril Ramaphosa has warned against scapegoating immigrants for deep-rooted problems, and his government has repeatedly told citizens that they do not have the ​right to take immigration enforcement upon themselves.

Police have stepped up arrests of undocumented ​migrants in ⁠response to the protests, and have also deployed officers during recent marches for safety. A spokesperson for Johannesburg police was not immediately available for comment on the actions of the protesters or the officers at the scene.

Malawi’s government ⁠said ​on Thursday that over 38,000 of its citizens had returned from ​South Africa in recent weeks, as part of a massive repatriation effort due to safety concerns. Over 80,000 have also returned to ​neighbouring Zimbabwe. – Reuters

The post South African protesters go door-to-door forcing immigrants from their homes appeared first on The Zimbabwe Mail.

HARARE – Zimbabwe’s listed real estate investment trusts (REITs) experienced a strong recovery in market activity during June, with investors returning to property-backed securities despite a modest decline in overall sector valuations, according to the latest figures released by the Zimbabwe Stock Exchange.

Market data shows that turnover in the REIT segment more than doubled during the month, rising to ZiG50.4 million from ZiG22.3 million recorded in May. Trading volumes also strengthened significantly, increasing by 142 percent to 46.5 million units, compared with 19.2 million units the previous month.

The number of transactions climbed to 798, up from 577 in May, making June the busiest month for REIT trading so far this year and pointing to improving market liquidity rather than activity driven by a handful of large institutional investors.

The rebound in trading comes against the backdrop of a marginal decline in the combined market capitalisation of Zimbabwe’s listed REITs, which eased to ZiG2.77 billion at the end of June. Analysts say the divergence between rising trading activity and softer valuations suggests investors continue to view property-backed securities as an attractive long-term asset class despite short-term pricing adjustments.

Zimbabwe currently has two listed REITs—Tigere REIT and Revitus Property Opportunities REIT—both established to broaden investment opportunities within the capital markets while providing property developers with alternative sources of long-term financing.

Unlike direct property ownership, REITs enable investors to gain exposure to professionally managed portfolios of income-generating commercial real estate through the stock market. The structure has become increasingly popular globally because it combines relatively stable rental income with the liquidity of listed securities.

The improving performance of Zimbabwe’s REIT market also coincides with continued portfolio expansion by Tigere REIT, which recently declared a quarterly distribution of US$1 million, equivalent to 0.0544 US cents per unit, for the quarter ended 31 March 2026.

The trust has also indicated that it expects to complete the acquisition of four income-generating commercial properties during the course of this year through retained pre-emptive rights. The acquisitions are expected to expand its asset base, enhance rental income and strengthen future distributions to unitholders.

Speaking recently, Zimbabwe Stock Exchange Chief Executive Officer Justin Bgoni said growing investor participation reflected increasing awareness of REITs as an investment vehicle.

“REITs continue to gain traction among investors as awareness of the asset class increases. We are seeing improving liquidity and broader market participation, which is critical for the continued development of the product,” Bgoni said.

His remarks were reported by the State-owned daily, The Herald, which has highlighted the gradual expansion of Zimbabwe’s listed property investment market.

Although June represented a significant recovery, market activity remained below the exceptional levels recorded in March, when turnover reached approximately ZiG90 million and trading volumes approached 78 million units. Nevertheless, analysts note that the steady increase in the number of individual trades over recent months points to a broadening investor base rather than isolated institutional transactions.

Economist Walter Mapfumo said stronger trading activity was an encouraging sign for Zimbabwe’s relatively young REIT sector, suggesting that both institutional and retail investors were becoming more comfortable with listed property as a long-term investment class.

The renewed momentum also reflects broader trends within Zimbabwe’s capital markets, where investors continue to seek assets capable of generating relatively stable income streams while providing some protection against inflation and currency volatility.

Internationally, REITs have become an established component of diversified investment portfolios. Markets such as the United States, South Africa, Singapore and Australia have demonstrated that listed property funds can improve capital market depth, mobilise long-term investment capital and provide efficient financing for commercial real estate development.

For Zimbabwe, the continued growth of the REIT market could play an increasingly important role in deepening domestic capital markets. By allowing developers to recycle capital through public markets, REITs reduce reliance on conventional bank financing while creating opportunities for pension funds, insurance companies and retail investors to participate in the commercial property sector without directly owning physical assets.

While the sector remains relatively small, June’s rebound suggests confidence in Zimbabwe’s listed property market is gradually strengthening. Continued improvements in liquidity, portfolio expansion and investor participation could position REITs as an increasingly important source of long-term capital for the country’s real estate industry and the broader financial system.

The post Zimbabwe’s Listed Property Funds Attract Renewed Investor Interest as REIT Trading Rebounds appeared first on The Zimbabwe Mail.

The Great Return: 78,000 Zimbabweans Flee SA Xenophobia – What Lies Beneath the Exodus? Johannesburg – A silent, yet profound, reversal of migration is unfolding across Southern Africa. Zimbabwe has confirmed the return of over 78,000 of its nationals from South Africa, a mass exodus driven by escalating xenophobic fears and a looming deadline that […]

The post ‘Go now or leave in a Coffin’: 78,000 Zimbabweans flee xenophobia as South Africans threaten brutal murders first appeared on My Zimbabwe News.

The chilling screams from a St. Louis suburb apartment balcony were so intense that neighbours immediately dialled 999. A woman was heard crying out that she was going to die. When police and emergency medical personnel arrived at the Shadycreek Court address around 5 pm, they were met with a scene of horrific violence. A […]

The post Shock as Munyaradzi Chiturumani stabs wife 30 times and flees with 6-year-old daughter first appeared on My Zimbabwe News.