VFEX reports strong performance in Q2

The Victoria Falls Stock Exchange (VFEX) has reported a strong performance in the second quarter of 2024, with several key metrics showing significant improvements compared to the previous quarter.

According to the data, the number of trades executed on the exchange increased by 6,39 percent in Q2 2024 compared to the previous quarter, indicating a more active trading environment.

This comes as the exchange added a new counter – Edgars, which migrated from the primary bourse the Zimbabwe Stock Exchange (ZSE).

The total value traded, however, declined by 16,82 percent during the same period, suggesting that while there was more buying and selling activity, the average size of individual trades decreased.

Total market capitalisation of the VFEX also gained 2,46 percent in Q2 2024, closing at a robust US$1,25 billion supported by new listings.

In a notable development, the VFEX collaborated with other market players to establish the Bond Market Association of Zimbabwe (BMAZ), which was launched in Bulawayo during the second quarter.

The creation of BMAZ is expected to play a key role in fostering market development, advocating for industry interests, enhancing market transparency and integrity and promoting investor confidence and participation.

“The first half of the year went on positively for VFEX as we continue to experience steady growth as our market is performing well as is shown by the statistics,” the exchange said in a statement in their quarterly review.

The VFEX Direct platform, which provides investors with a convenient trading experience, also continues to thrive, with the exchange actively exploring the addition of new security types to the exchange to offer investors a more diverse range of investment opportunities.

Furthermore, the VFEX is in the process of creating a commodities exchange, which will further expand the range of investment options available to investors.-ebsuinessweekly