The Victoria Falls Stock Exchange has welcomed its largest-ever initial listing after Econet InfraCo joined the bourse by way of introduction, marking a significant milestone for Zimbabwe’s capital markets.Energy transition report
The listing, valued at US$1 billion, represents the largest initial listing in the history of Zimbabwe’s capital markets.
In her opening remarks at the listing ceremony, Victoria Falls Stock Exchange chairperson Ms Florence Jambwa said the development underscored the exchange’s growing stature.
“For the VFEX, this listing represents another important step in diversifying our product offering and deepening the market,” Ms Jambwa said.
“Infrastructure introduces a new dimension to the Exchange, complementing our existing listings and strengthening our appeal to a broader spectrum of investors.”
Delivering the keynote address, Minister of Finance, Economic Development and Investment Promotion Professor Mthuli Ncube said the listing reinforced Zimbabwe’s credentials as an investment destination.
“Today’s listing adds further weight to that vision. With a valuation of US$1 billion, Econet InfraCo’s debut stands as the largest initial listing in the history of Zimbabwe’s capital markets,” Professor Ncube said.
“This demonstrates to the world that Zimbabwe is open for business and our regulatory frameworks are strong. I am proud to be witnessing this growth trajectory on the VFEX, and I commend the team for the work they have done to make it a credible exchange for listings of this calibre.”
The VFEX, established in 2020, has been positioned as a specialised exchange targeting regional and international investors, with listings denominated in United States dollars.
Since its inception, the VFEX has sought to attract listings from across the region, offering a stable currency environment and favourable regulatory framework. Analysts have described the Econet InfraCo listing as a vote of confidence in the exchange’s trajectory and Zimbabwe’s broader investment climate. – Herald
The post Econet InfraCo makes history with US$1bn VFEX listing appeared first on The Zimbabwe Mail.