Victoria Falls Stock Exchange

Address: Shop 1, Stand 305, Parkview Drive, Victoria Falls, Zimbabwe
Email: info@vfex.exchange
Website: www.vfex.exchange

Victoria Falls Stock Exchange
	VFEX
Type	Stock Exchange
Location	Victoria Falls, Zimbabwe
Founded	2020
Owner	Zimbabwe Stock Exchange
Key people	Justin Bgoni
Currency	United States Dollar (USD)
Indices	VFEX All Share Index
Website	www.vfex.exchange

The Victoria Falls Stock Exchange (VFEX) is stock exchange created to serve as a stock trading platform for the Victoria Falls Special Economic Zone. Trading in on the exchange is in United States Dollars. The main objective was to enable companies in Zimbabwe, SADC, and the rest of Sub-Saharan Africa to raise capital in foreign currency.

VFEX is a subsidiary of the Zimbabwe Stock Exchange.

History

VFEX was launched on 23 October 2020. Trading, Depository Services, Clearing, and Settlement commenced on Monday, 26 October 2020.

At launch, the Government of Zimbabwe said that the exchange was part of strategic initiatives implemented to stabilise the economy and attract Foreign Direct Investment (FDI). The resort town of Victoria Falls was designated as a hub for Tourism in Zimbabwe and financial services under the special economic zones initiative with a view of attracting tourists as well as luring investment through tourism.

To attract companies to list the government offered incentives. These included lower taxes ( 5 percent dividend withholding tax — for foreign investors only — and exemption from capital gains withholding) and reduced exchange control restrictions.

Government first approved the implementation of an offshore financial hub in Victoria Falls in 2012 before it had even approved the establishment of the Special Economic Zones.^[1]