The Victoria Falls Stock Exchange (VFEX) market capitalisation for Q3 2022 closed at $341mn, a 25% increase from the previous quarter, the bourse said in its latest newsletter. The growth also represents a 76% increase year on year.
The US dollar-denominated VFEX, a subsidiary of the Zimbabwe Stock Exchange, set up in October 2020 to serve as an offshore financial services centre, has four listings – SeedCo International, Bindura Nickel Corporation, Caledonia Mining Corporation and Padenga Holdings Limited.
According to the newsletter, VFEX recorded a turnover of $595,000 in Q3, an 81% decline from the previous quarter. In comparision to the corresponding period in 2021, however, turnover grew by 26% from $473,000. On a year-to-date basis, turnover stood at $9mn.
VFEX recorded 336 trades in Q3 2022 compared to 328 in the previous three months. On a year-to-date basis, the VFEX recorded 1,343 trades.
VFEX introduced VFEX Direct on September 1. The online trading platform specifically designed for retail investors provides them with an easy and convenient way to buy and sell securities listed on the exchange that is denominated in the greenback.