The Victoria Falls Stock Exchange (VFEX), Zimbabwe’s US dollar-denominated bourse, has delivered a remarkable 34% gain year-to-date, more than double its 15% return in 2024. Market capitalisation has climbed 28.7% to US$1.65 billion, adding US$200 million since late August, supported by the strong performance of listed companies and the recent debut of Kavango Resources.
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Beyond the numbers, this growth reinforces VFEX’s role as a genuine long-term wealth-building and financial security platform. Its unique model — trading in US dollars within an international financial centre — continues to attract both domestic and foreign investors seeking stability and hard-currency returns.
The exchange has become particularly appealing to mining companies raising capital. Since its launch in 2020, VFEX has enabled several successful fundraisings: Caledonia (US$12m), Karo Resources (US$36m, including US$25m from local investors), Eagle Reit and Invictus (US$19.5m each).
A key strength remains its reliability. According to Robert Mubaiwa, Head of Markets, every single trade since VFEX’s inception has been settled on time, a crucial factor in building investor trust.
