Australia's Invictus Energy lists on Victoria Falls Stock Exchange

Zimbabwe's Victoria Falls Stock Exchange is making waves in the financial market as it listed its 16th company this year, pushing the market capitalisation to over $1.2 billion. Robert Mubaiwa, the head of the exchange, recently sat down with CNBC Africa's Godfrey Mutizwa to discuss the listing of Invictus Energy and the future prospects of the stock exchange. Mubaiwa expressed his confidence in the market, highlighting the potential for growth and investment opportunities. Invictus Energy, an exploration company focusing on oil and gas, recently entered the market with successful results in their gas exploration efforts. Mubaiwa expressed optimism in the company's ability to raise additional funds, citing the belief in their product and the support from both local and international investors. He emphasized the importance of local investors participating in such opportunities and its positive impact on the country's economy. Looking ahead, Mubaiwa shared insights into the exchange's pipeline, mentioning upcoming listings such as Erit, a gold ETF, and a mining exploration company. He noted the challenges of liquidity in a new exchange but expressed satisfaction with the progress, highlighting an average monthly liquidity of five to six million. With new listings expected to improve liquidity further, Mubaiwa remains optimistic about reaching 20 listings by the end of the year. In discussions with the government, the exchange is exploring the privatization of state-owned companies from the Mtapa fund. While still in negotiation stages, Mubaiwa remains hopeful about potential listings from these assets. To attract more companies to the exchange, various incentives are being put in place, including engagement initiatives in South Africa, the UK, and China. Positive feedback from these engagements has encouraged the exchange to plan roadshows in the United States, leveraging recent regulatory changes to drive growth and investment. With a vision to enhance market confidence and attract diverse investors, the Victoria Falls Stock Exchange is poised for further expansion and development. The exchange's commitment to showcasing opportunities and fostering growth is set to position Zimbabwe as a promising investment destination in the region.