By Owen Mandovha
MORE counters are expected to list on the Victoria Falls Stock Exchange in yet another significant milestone by government in confirming the country as a top investment destination.
The Victoria Falls Stock Exchange continues to be a star attraction for local and international investors as more counters are listing on the first ever foreign currency denomination stock exchange.
In a cautionary statement released recently, fast food chain concern Simbisa Group warned investors to trade cautiously in the counter on the basis of its delisting from the Zim dollar denominated Zimbabwe Stock Exchange upon its imminent listing on the VFEX.
In another related development Karo Resources which is developing the fourth largest PGM mine along the Great Dyke has issued a prospectus announcing its intention to list a US$50 million bond to part fund the development of the mine.
Part of the Prospectus seen by ZBC News reads, ” KMH is seeking to raise an amount of US$50 million through the issue of the bond by way of private placement to part fund the Karo Project, the successful development of which will introduce a fourth significant producer entrenching Zimbabwe as a key global producer and importantly opening up a significant long life source of the versatile metals.”
Launched in December 2021 as a way of luring foreign direct investment, the Victoria Falls Stock Exchange is defying odds as more listings pile up in yet another charming transformation of the economy as a top destination of foreign capital.