Old Mutual Resumes Trading

Old Mutual Limited officially resumed trading on the Victoria Falls Stock Exchange (VFEX) today, marking its return to the local bourse after a six-year suspension that began in 2020.

This move makes Old Mutual the 21st company to be listed on the VFEX, an exchange denominated in US dollars and established to support the evolution of the International Financial Services Centre within the Victoria Falls special economic zone. Market participants have welcomed the listing, interpreting it as a significant vote of confidence in Zimbabwe's financial architecture and the VFEX's growing prominence.

In Friday's trading sessions, most indices on the Zimbabwe Stock Exchange (ZSE) saw gains, although the ZSE Top 10 Index experienced a slight dip. The ZSE All Share Index edged up by 0.02 percent, closing at 479.41. The Medium Cap Index showed a notable rise of 0.82 percent. Daily turnover on the ZSE was ZiG1.126 million from 250,000 shares traded.

Meanwhile, the VFEX All Share Index advanced by 1.13 percent, reaching 265.96, driven by gains in key companies. Total turnover on the VFEX rose to US$355,426 from 1.579 million shares. Old Mutual Africa Regions chief executive Clement Chinaka stated that the company had been in discussions with the Zimbabwean government and regulators since 2020 to find viable solutions for resuming trading, highlighting the development of sufficient scale and liquidity as a key factor.

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Having now developed sufficient scale and liquidity as a v