Zimbabwe’s Upstart Dollar Bourse Tops 132-Year-Old Exchange

Zimbabwe’s dollar-denominated stock exchange has eclipsed the country’s 132-year-old main bourse, propelled by the biggest listing in the nation’s history.

The Victoria Falls Stock Exchange, established during a currency crisis in 2020, has overtaken the Zimbabwe Stock Exchange by market value after tycoon Strive Masiyiwa transfered telecommunications infrastructure firm Econet InfraCo Ltd. to the platform at a $1 billion valuation on March 31. The listing accounts for almost a quarter of VFEX’s total capitalization.