Dubai Gold Exchange Expands Commodity Trading Business in Africa with Memorandum of Understanding


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. “

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