Debt-ridden Harare sends distress signals with new stock exchange

摘要

Rather than pit itself against Africa's wellestablished financial centres such as Mauritius, Zimbabwe's new Victoria Falls Stock Exchange (VFEX), opened in May by President Emmerson Mnangagwa's government, is designed to fill in where the Zimbabwe Stock Exchange (ZSE) falls woefully short. Foreign investors have been steering well clear of the ZSE. In February, John Panonetsa Mangudya, the governor of the Reserve Bank of Zimbabwe, announced that net portfolio investments fell 93% in 2019. The VFEX is intended to lure them back in. It should allow for investments with fewer regulations to facilitate capital raises and the transfer of money overseas, all in US dollars as part of a free-trade zone.