VFEX soars to new heights

Philemon Jambaya

Zim Now Editor

117% Surge in Trading Activity, Market Capitalisation Reaches US$1.3 Billion

- 117%: Surge in trading activity

- US$57 million: Total market turnover in 2024

- US$1.3 billion: Market capitalisation

- 31%: Increase in trades executed

- 6: Number of new listings targeted for 2025

The Victoria Falls Stock Exchange (VFEX) has made a resounding statement, shattering its performance targets in 2024 and cementing its position as a formidable player in the region's capital markets. Despite a challenging economic environment, the VFEX has demonstrated remarkable resilience and growth, with key indicators pointing to a bright future.

The VFEX's total market turnover skyrocketed by a staggering 117%, leaping from US$26.3 million in 2023 to a whopping US$57 million in 2024. Market capitalisation also experienced a significant boost, increasing by 6% to reach US$1.3 billion last year. The number of trades executed on the VFEX surged by 31% in 2024, with 796 trades recorded in 2023, indicating a substantial rise in investor participation.

Business consultant, Dr. Farai Musamba, praised the VFEX's performance, saying, "This was a commendable performance in a challenging environment... the VFEX is consolidating its position on the capital markets in the country and the region." Dr. Musamba added that the VFEX's growth trajectory positions it to play a prominent role in the country's and region's economies, enabling companies to raise capital in hard currency.

The VFEX has set its sights on attracting at least six new listings this year, adding to the current six. The exchange is actively engaging companies across various sectors, including mining, agriculture, tourism, and technology, to encourage them to consider listing on the US dollar-denominated exchange.