Zimbabwe: Old Mutual Resumes Trading

12 August 2026
The Herald (Harare)

Zimbabwe Stock Exchange (ZSE) established to drive the evolution of the International Financial Services Centre (IFSC) under the Victoria Falls special economic zone. Business Writer

Old Mutual Limited officially resumes trading on the Victoria Falls Stock Exchange (VFEX) today, ending a six-year suspension that had kept its shares off the local bourse since 2020. The migration, which makes Old Mutual the 21st listed counter on the US dollar-denominated exchange, was hailed by market participants as a significant vote of confidence in Zimbabwe's financial architecture.

ADVERTISEMENTNextStayPlayback speed1x NormalQualityAutoBack720p360p240p144pAutoBack0.25x0.5x1x Normal1.5x2x/SkipAds by In Friday's session, most indices on the ZSE finished higher, though the ZSE Top 10 Index dipped. The ZSE All Share

Index edged up 0,10 of a point, or 0.02 percent, to 479,41, while the ZSE Top 10 Index dipped 0,77 points, or 0,16 percent, to 486,18. The ZSE Top 15 Index added 0,14 points, or 0,03 percent, closing at 497,08.

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The Medium Cap Index rose 3,91 points, or 0,82 percent, to 480,30. The Small Cap Index finished flat at 100,11, while the Minings Index gained 0,43 points, or 0,29 percent, to 147,11, lifted by a 0,29 percent rise in mining counter RioZim.

Daily turnover on the ZSE came to ZiG1,126 million, from 250 000 shares changing hands across 35 trades - down from the previous session's ZiG21,98 million, on volume of 2,255 million shares and 49 trades. The top five by value were SeedCo (ZiG422,064), Delta (ZiG401,349), Meikles (ZiG225,078), CBZ (ZiG40,000) and Tanganda (ZiG14,320).

ZSEH led the gainers, climbing 15c, or 10 percent, to 165c, while ZHL added 7,05c, or 8,60 percent, to 89c, and SeedCo rose 18,35c, or 3,85 percent, to 495,38c. Star Africa and RioZim advanced 2,47 percent and 0,29 percent respectively, to 3,38c and 85,25c.

Only four counters closed in the red: GB Holdings, Mash, Masimba and Meikles.

There were no trades on the ETFs board.

Meanwhile, the Tigere REIT fell 2,23c, or 2,03 percent, to 108c.

The VFEX All Share Index advanced 2,98 points, or 1,13 percent, to 265,96, driven by gains in heavyweights Econet

InfraCo, Padenga and Simbisa. SeedCo Intl, Econet InfraCo, Kavango Resources, Padenga and Simbisa were the top risers on that market, while Edgars, Innscor, Axia and FCB were the leading fallers. Total turnover on the VFEX rose to US 355,426, on volume of 1,579 million shares and 118 trades.

The FMWG ETF slipped 0,29c, or 2,32 percent, to 12,22c. The Eagle REIT held steady at 36c, while the Pfuma REIT added 0,04c, or 0,27 percent, to 14,89c.

Speaking at the listing ceremony on Friday, Old Mutual Africa Regions chief executive Clement Chinaka said the company had engaged with the Government of Zimbabwe and key regulators since the suspension of its shares on the

ZSE in 2020, proposing viable solutions to resume trading.

"Having now developed sufficient scale and liquidity as a viable alternative trading platform to the Zimbabwe Stock

Exchange, the Old Mutual Limited Board has approved the migration to the Victoria Falls Exchange," Mr Chinaka said.

He added:

"In Old Mutual, we have a saying that what is good for our communities is good for Old Mutual. And in this case, what is good for Zimbabwe is good for Old Mutual. Zimbabwe holds a special place in that story of Old Mutual.

"Our history in this country is deeply intertwined with Zimbabwe's own journey of growth, resilience, and transformation."

Finance Minister, Professor Mthuli Ncube, who officiated at the ceremony, said the listing represented an important endorsement of the VFEX's growing role within Zimbabwe and the region's capital markets.

"This achievement reflects the collective efforts of governments, regulators, issuers, investors and market participants in building a transparent, efficient and internationally connected capital market," Minister Ncube said.

ZSE Holdings chairperson Caroline Sandura noted that the absence of Old Mutual had created a significant gap within the investment community.

"Today's listing is a product of constructive engagement and reflects the willingness among all stakeholders to pursue solutions that strengthen Zimbabwe's financial markets while balancing the interests of investors, issuers and the broader economy," she said.

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