Old Mutual Resumes Trading on Victoria Falls Stock Exchange After 6-Year Suspension

• Old Mutual Limited has resumed trading on the Victoria Falls Stock Exchange (VFEX) after a six-year suspension.
• The company's shares were suspended from the Zimbabwe Stock Exchange (ZSE) in 2020, but it has now migrated to the VFEX as part of its efforts to develop sufficient scale and liquidity.
• The listing ceremony was officiated by Finance Minister Professor Mthuli Ncube and marked an important endorsement of the VFEX's growing role within Zimbabwe's economy.
• Old Mutual's return to the Zimbabwean stock market may have significant implications for investors, regulators, and the broader economy.

Old Mutual Limited has resumed trading on the Victoria Falls Stock Exchange (VFEX) after a six-year suspension. The company's shares were suspended from the Zimbabwe Stock Exchange (ZSE) in 2020, but it has now migrated to the VFEX as part of its efforts to develop sufficient scale and liquidity as a viable alternative trading platform. This move makes Old Mutual the 21st listed counter on the US dollar-denominated exchange.

The migration was hailed by market participants as a significant vote of confidence in Zimbabwe's financial architecture. The listing ceremony, officiated by Finance Minister Professor Mthuli Ncube, marked an important endorsement of the VFEX's growing role within Zimbabwe's economy.

The suspension of Old Mutual's shares on the ZSE in 2020 was a significant event that had far-reaching implications for investors and regulators. The company had engaged with the Government of Zimbabwe and key regulators since then, proposing viable solutions to resume trading. The migration to the VFEX is seen as a major development in the country's financial architecture, with potential implications for investment and regulatory compliance.

Lawyers and compliance officers should note that Old Mutual's return to the Zimbabwean stock market may have significant implications for investors and regulators alike. The company's listing on the VFEX marks a new chapter in its history in Zimbabwe, one that is deeply intertwined with the country's own journey of growth, resilience, and transformation.

The resumption of Old Mutual's trading on the VFEX has significant implications for investors, regulators, and the broader economy. The move marks a vote of confidence in Zimbabwe's financial architecture and highlights the growing role of the VFEX within the country's economy.

For Old Mutual, the listing represents an important milestone in its history in Zimbabwe, one that underscores its commitment to the country's growth and development. As Clement Chinaka, chief executive of Old Mutual Africa Regions, noted, 'what is good for our communities is good for Old Mutual.' The company's return to the Zimbabwean stock market is a testament to its enduring presence in the country and its continued investment in its future.

Lawyers and compliance officers should note that Old Mutual's return to the Zimbabwean stock market may have implications for investment and regulatory compliance, particularly in relation to the country's financial architecture.

Source: Original reporting via AllAfrica Zimbabwe