The Victoria Falls Stock Exchange (VFEX), is a wholly owned subsidiary of the ZSE established to kick start the Offshore Financial Services Centre (OFSC) earmarked for the special economic zone in Victoria Falls;

The trading currency on VFEX is USD

Key incentives applicable to VFEX include: Capital raised by a company listed on the Victoria Falls Stock Exchange may be held in an approved local or offshore account with an internationally recognised banking institution; Allowance to use offshore settlement for trades done; Tax incentives for shareholders of shares listed on VFEX – 5% dividend withholding tax (foreign investors only) and exemption from capital gains withholding

Ability to raise capital in hard currency; Ability to use different securities to raise capital – debt, equity, ETF and REITS. Tax incentives for shareholders; Lower trading fees which may lead to improved liquidity; Enhanced profile within and outside Zimbabwe; Lower exchange control risk.

Not in the interim, the market will be advised of any changes

The current suspension on fungibility will apply and a review will be done when the suspension expires;

only new securities can be listed if the issuer remains listed on ZSE. Issuers can however delist from ZSE and list 100% on VFEX by way of introduction;

Dividends will have to be in USD or any other convertible currency;

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