Econet InfraCo Limited (Econet InfraCo) has lifted the Victoria Falls Stock Exchange (VFEX)’s total market capitalisation to a record US$3,88 billion, following its listing on the equities market.
The Econet Wireless Zimbabwe (Econet) subsidiary began trading on the VFEX Tuesday, adding more than US$900 million in equity to the bourse.
The telecoms infrastructure-dedicated firm, which now accounts for about 23 percent of the exchange’s total value, closed its debut session at US$0,30 per share after 1 257 887 shares changed hands.
Econet InfraCo, which was spun off from Econet, formally listed on the VFEX last Friday.
The transaction saw existing Econet shareholders receive a US$250 million dividend in specie through shares in the new entity.
Following the listing, the VFEX’s market capitalisation has moved closer to that of the Zimbabwe Stock Exchange (ZSE), which stood at approximately US$4,3 billion (ZiG112,3 billion) as of Tuesday.
The development follows a restructuring by Econet that resulted in its delisting from the ZSE and the separation of its infrastructure assets into a standalone company – Econet InfraCo.
Under the new arrangement, Econet retains a 70 percent stake in Econet InfraCo, while investors hold shares in both entities, giving them direct exposure to Econet InfraCo and indirect participation via Econet.
This structure creates a dual investment opportunity, enabling shareholders to potentially benefit from dividends from both companies.
Econet InfraCo consolidates Econet’s telecom towers, energy assets and property portfolio into a single platform designed to deliver stable, long-term returns, while supporting expansion across key sectors of the economy.
Florence Jambwa, VFEX chairperson, said the listing is expected to significantly boost the exchange’s market value.
“When benchmarked against several regional exchanges, the VFEX has demonstrated competitive performance, particularly when viewed through the lens of US dollar returns, investor accessibility and regulatory incentives,” she said.
“The consistency in trading activity and capital raising on our platform is evidence of a market that is steadily maturing and gaining relevance,” she said.
Econet InfraCo becomes the 19th company to list on the US dollar-denominated exchange since its launch in 2020.
Jambwa said the addition of infrastructure assets broadens the exchange’s offerings and enhances its appeal to a wider pool of investors.
She added that the VFEX continues to engage potential issuers across sectors such as mining, financial services and agriculture, with expectations of further listings and increased liquidity. – TML