Govt Incentivises Investing On The Soon To Be Launched Victoria Falls Securities Exchange

The government has announced there are lucrative incentives instore for investors willing to invest in the Victoria Falls Securities Exchange in a bid to lure investors to invest in the exchange which will be launched soon, the Chronicle reports.

This was revealed by the Finance and Economic Development Minister Mthuli Ncube during yesterday’s Mid-term budget review. Ncube said;

The 2019 National Budget Statement highlighted Government’s intention to set up an Offshore Financial Services Centre (OFSC) as part of efforts to develop the financial services sector, through provision of opportunities for global investment

The Victoria Falls Special Economic Zone has created an opportunity to set up the VFEX OFSC, as a subsidiary of the main board of the Zimbabwe Stock Exchange.

Foreign investment is required to close funding gaps required to resuscitate the economy in targeted sectors of mining, tourism, agriculture (tobacco), and horticulture.

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The Minister didn’t give specifics on when the exchange will open but it is believed it will be operating from the resort town’s CBD and it will seek partnerships with other exchanges and international investment banks.

More: Chronicle