Victoria Falls Securities Exchange scores second listing

The Victoria Falls Securities Exchange continues to make strides as it attracts its second listing since opening in October. Padenga Holdings has become the latest company to list on the exchange, following in the footsteps of Seed Co International. In a recent interview with CNBC Africa's Godfrey Mutizwa, Justin Bgoni, CEO of the Victoria Falls Securities Exchange, discussed the progress and future prospects of the exchange. Bgoni highlighted the significance of Padenga's listing, stating that the diversified organization's presence on the exchange provides a platform to raise capital for future endeavors. He emphasized that while it may appear challenging to achieve two listings within nine months, the exchange is on track and optimistic about its pipeline of potential listings. The CEO revealed that Caladonia is among the companies in talks to join the exchange, with several others from varied sectors such as financial services and agriculture also showing interest. Looking ahead to 2021, Bgoni expressed confidence in the exchange's ability to attract more listings despite the global economic challenges. He acknowledged the dominance of mining companies in the current portfolio of companies and suggested that this trend is likely to continue in the future. Bgoni also highlighted the government's support in creating a conducive economic environment for companies to list on the exchange. While acknowledging the need for additional incentives to attract more listings, he stressed the importance of time and investor confidence in driving the growth of the exchange. Bgoni pointed out the advantages of listing on the Victoria Falls Securities Exchange compared to the Zimbabwe Stock Exchange, noting that the former offers easier access to foreign currency and lower exchange control risks for investors and companies. He addressed concerns about political and economic risks by highlighting the quality of companies being attracted to the exchange, citing Caledonia as an example of a successful cross-listed company operating in Zimbabwe. Overall, Bgoni expressed optimism for the future of the Victoria Falls Securities Exchange and its potential to become a preferred destination for companies looking to raise capital and expand their operations.