Zimbabwe’s Dollar Stock Exchange Jumps in Value as Local Currency Sinks
- Value of listings on Victoria Falls exchange up 75% this year
- FBC Securities sees threat to viability of Harare stock market
This article is for subscribers only.
The combined value of companies traded on Zimbabwe’s alternative, dollar-only stock market has soared 75% this year as investors take shelter from the rapid depreciation of the local currency.
The market capitalization of the Victoria Falls Exchange has climbed to almost $1 billion, according to FBC Securities, a brokerage based in the capital, Harare. Companies are drawn to the bourse in the resort city because of broader sources of capital, tax incentives and better positioning for their brands, it said in a report.