DUBAI: The Dubai Gold and Commodities Exchange (DGCX) will extend technical support, knowledge and skills to the Victoria Falls Stock Exchange (VFEX), a subsidiary of the Zimbabwe Stock Exchange, as per an agreement signed between the two.
The aim of the agreement is to establish an international commodities exchange in Zimbabwe.
Additionally, VFEX will seek support from the Dubai derivatives exchange in setting a framework for a clearing and settlement commodities exchange.
The one-year agreement was signed by the CEO Les Male and the VFEX CEO Justin Bgoni, during the visit of a high-level Zimbabwean ministerial delegation.
“We are confident that our deep knowledge and expertise will help bring value to VFEX as they kickstart the Offshore Financial Services Centre (OFSC) for the special economic zone in Victoria Falls,” said Male.