Edgars, Invictus boost VFEX performance

Nyashadzashe Ndoro

Chief Reporter

Finance Minister Mthuli Ncube has revealed that the recent listings of Edgars Stores Limited and Invictus Energy ZDR on the Victoria Falls Stock Exchange have contributed significantly to the bourse's growth in 2024.

Presenting the 2025 National Budget Statement on Thursday afternoon, Ncube stated that the VFEX reported a 5.63% year-to-date gain, with its All Share index closing at 105.63 points, as of September 30, 2024.

Edgars and Invictus Energy became publicly traded on the VFEX on May 10, 2024, and August 2, 2024, respectively. Their listings, according to the Minister, have been instrumental in driving the VFEX's growth, with the bourse's overall market capitalization reaching US$1.29 billion at the end of September 2024.

The VFEX currently boasts 16 listed companies, comprising 12 equity listings, 3 depository receipts, and 1 fixed income security. The government has also designated the Victoria Falls Special Economic Zone as an International Financial Services Centre (IFSC), aimed at creating a conducive environment for the flow of capital.

The establishment of the IFSC is currently underway, with a Board appointed to refine the legal and regulatory framework, and staff recruitment in progress.