Zimbabwe has launched a second stock exchange to trade solely in foreign currency, state media reported on Saturday, in a move aimed at luring external investors as the country grapples with a forex crunch. Known as the Victoria Falls Stock Exchange, the new market is a subsidiary of the Harare-based Zimbabwe Stock Exchange (ZSE) and will start trading on Monday, according to the state-run Herald newspaper. “We saw an opportunity to work with the ZSE in creating a global platform for the trading of stocks in foreign currency, and to do it in a way that promotes foreign investment into Zimbabwe,” Finance Minister Mthuli Ncube was quoted as saying. The new bourse - based in north-western Victoria Falls, the country’s premier tourism destination - marked “the foundation stone” for building the town into an offshore financial hub, said the minister.
Published in The Express Tribune, October 25th, 2020.
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