Econet InfraCo, a subsidiary of Zimbabwe’s top mobile
communications group Econet Holdings (ZSE: ECO) (Econet), has
listed on a local dollar-indexed stock exchange.
The Victoria Falls Stock Exchange (VFEX) said in an update that
the firm joined the platform on March 27, and its shares will start
trading on March 31 under the ticker INFR.VX.
Speaking at the listing ceremony, Finance Minister Mthuli Ncube
said Econet InfraCo debuts with a valuation of $1bn, which makes it
the largest initial listing in the history of local capital
markets.
“This demonstrates to the world that Zimbabwe is open for
business and our regulatory frameworks are strong,” he said.
It becomes the 16th equity stock on VFEX.
Econet will delist from the local currency-denominated Zimbabwe
Stock Exchange (ZSE) on March 31, having listed in 1998. Its
shareholders recently approved a board proposal to exit the bourse
after noting that the platform did not accurately value it. They
then decided to bring together the group’s towers, renewable energy
and real estate assets under Econet InfraCo and list it on the
VFEX.
According to Equity Axis on March 27, Econet was the
ZSE's largest, most liquid, and most internationally recognised
counter. It represented approximately one-third of the ZSE's total
market capitalisation at the time it issued its first cautionary
announcement in December 2025, when its market cap was equivalent
to approximately $628mn.
'The removal of a counter of that size from the official list
produces an immediate reduction in ZSE market capitalisation of
approximately 20%, shrinks the exchange's daily trading liquidity
at a single stroke, removes the most internationally recognised
Zimbabwean listed company from the exchange, and eliminates one of
the few counters that institutional investors, including large
pension funds and asset managers, held in meaningful size,” it
wrote.
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