Investing on VFEX is now easier

By Tapiwa Bepe

The Victoria Falls Stock Exchange Limited (VFEX) is a licensed securities exchange established to kick start the Offshore Financial Services Centre (OFSC) earmarked for the special economic zone in Victoria Falls. The trading currency of the VFEX is United States Dollars (USD) and the VFEX is open to both local and foreign investors. The key incentives for investors applicable on VFEX include;

  • Lower trading fees
  • Trading in hard currency
  • No capital gains withholding tax
  • Lower dividend withholding tax for foreign investors
  • Capital can move in and out of the country easily

Since the launch of VFEX in 2020, trading has mainly been dominated by institutional investors, with little participation from individual investors. Some of the barriers cited by individual investors included an onerous account opening process and lack of appreciation of the investment process. In a bid to simplify the investment process, VFEX introduced broker controlled accounts in July 2022. This initiative delivered lower costs and easier account opening procedures for investors wanting to open a VFEX trading account. As part of the continuous efforts by VFEX to encourage retail participation, an online and mobile trading platform- VFEX Direct was launched on 01 September 2022.

Introducing VFEX Direct

VFEX Direct provides investors with an easy and convenient way to buy and sell securities listed on The Victoria Falls Stock Exchange. With a minimum initial investment of USD$10, an investor can register, buy and sell securities, fund their wallet and monitor market performance remotely through the web portal ( or mobile application (Android and IOS).

VFEX Direct key features for Investors

Investors wishing to participate through VFEX Direct, are required to hold an FCA (Nostro) account with any Zimbabwean bank. VFEX Direct is meant to make investing on VFEX easier and simpler. Some of the key features available on VFEX Direct to assist investors through their investment journey include;

User friendly interface

  • The platform has been made easy to use, even for a first time investor. The key features such as buying, selling, topping up one’s wallet is easy to navigate.

Your portfolio

Market depth

  • The market depth feature shows up to 10 best orders on both the buy and sell side. This feature enables the investor to assess the status of other orders in the market and hence be able to make an informed decision on their buy or sell order.

Lot size

  • The platform allows an investor to place an order of any lot size (minimum of 1 security) with a minimum initial investment of $10 USD.

Market statistics

  • Latest market statistics that include the market snapshot and price sheet are available on the platform to help one track the performance of the market.

Price range on buy and sell tabs

  • The platform indicates to the investor the acceptable price range for each security.

As VFEX, we will continue to explore initiatives that deepen the capital markets and promote financial inclusion. Your feedback will help elevate the growth of VFEX Direct, and we would like to hear your experience with this product. Kindly get in touch with us, email

Information provided in this article is for educational purposes and does not constitute financial advice. You should obtain independent advice from a Registered Stockbroker or Financial Advisor before making any financial decisions.

For more information about VFEX Direct, visit

Email: [email protected]

Tel: +263 24 2886830-5

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