Victoria Falls Stock Exchange has signed a memorandum of understanding with the Dubai Gold and Commodities Exchange.
The deal was announced this week. The Victoria Falls Stock Exchange is a subsidiary of the Zimbabwe Stock Exchange. According to a Herald report, the Dubai Gold Exchange agrees to extend its technical support, knowledge and skills to the Victoria Falls Stock Exchange, with the ultimate goal of establishing an international commodity exchange in Zimbabwe.
Dubai Gold Exchange CEO Les Male said the deal was part of a larger strategy for the African continent.
“We are delighted to forge a partnership with the Victoria Falls Stock Exchange, as part of our broader strategy to strengthen commodity trading across Africa. We are confident that our in-depth knowledge and expertise will help bring value to VFEX as they launch the Offshore Financial Services Center (OFSC) for the Victoria Falls Special Economic Zone, ”Male told the Herald. “The partnership also builds on our expanding international footprint and represents another opportunity for that to build stronger forays into Africa, a rapidly growing market with enormous potential. “
Disclaimer: The opinions expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes. This is not a solicitation to trade in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article accept no responsibility for any loss and / or damage resulting from the use of this publication.