RESERVE Bank of Zimbabwe Governor Dr John Mushayavanhu has urged companies whose shares were suspended on the Zimbabwe Stock Exchange (ZSE) amid suspected illegal trading in their stocks to consider listing on the Victoria Falls Stock Exchange (VFEX).

The VFEX, a US dollar subsidiary of ZSE and aimed at facilitating foreign currency investments, started trading on October 26, 2020

It serves as an offshore financial services centre, offering US dollar-denominated trading and several tax incentives.

Three companies, namely Old Mutual Zimbabwe, PPC Zimbabwe and Seed Co International, had their shares suspended from trading on the ZSE in June 2020 amid concerns that the fungibility of their stocks was being used to create implied exchange rates used in foreign exchange trading on the parallel market.

Old Mutual, whose primary listing is the Johannesburg Stock Exchange, also maintains secondary listings in Malawi and Namibia.