VFEX targets exchange-traded funds

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THE Victoria Falls Stock Exchange (VFEX) is targeting exchange-traded funds (ETFs), among other securities, to diversify its board.
The US dollar-denominated market, which was launched in 2020, listed its sixth counter on Friday and is set to onboard at least two more securities in 2022.
“Our thrust as VFEX is to increase the pool of securities on the exchange, and currently the VFEX management and staff are engaging various stakeholders and potential issuers to list fixed income securities and single stock ETFs and we certainly look forward to the addition of these instruments on our bourse,” VFEX board chairperson, Caroline Sandura, said on Friday at a ceremony to mark Simbisa Brands’ (Simbisa) listing on the exchange.

Of the six listings on the market thus far, four are plain vanilla stocks — Seed Co International, Padenga Holdings, Bindura Nickel Corporation and Simbisa, while two are depository receipts — Caledonia Mining Corporation and Nedbank.