African Sun Limited lists on the VFEX

Written by on April 17, 2023

Tanaka Sigudu

African Sun Limited has become the first tourism company to list on the Victoria Falls Stock Exchange (VFEX).

Addressing delegates at the listing ceremony in Victoria Falls on Friday, Minister of Environment, Climate, Tourism and Hospitality Industry, Hon Mangaliso Nqobizitha Ndlovu said the listing will attract local and foreign investors as there are vast opportunities on the VFEX.

“I am confident that the introduction of the bourse to this tourism giant will play a pivotal role towards attracting both local and international capital which is one of the key objectives of establishment of the Victoria Falls Stock Exchange being to stimulate investment into the country and accelerate economic growth in line with our national vision. As government we believe that this is an opportune time of financial intermediaries and investors both local and foreign to closely examine the vast opportunities available and being unlocked in the country as presented to shareholders by African Sun Limited.

“It is for these reasons that as the government, my Ministry in particular, we are excited to see the listing of the first hospitality entity on the VFEX. It is a known fact that tourism is a low-hanging fruit. As you may be aware the tourism and hospitality sector has been identified by the government under the economic blueprint, NDS 1, 2021-2025 as one of the key pillars for the economy alongside agriculture, mining and manufacturing “, he said.

African Sun Limited Chairperson, Dr Emmanuel Fundira said listing on the VFEX is a great milestone to reach world standards.

“Our vision is to be the leading provider in hospitality and leisure operations in Africa by providing outstanding hospitality experiences that our guests love. Our decision as a board to list on the VFEX was influenced by the desire to ensure that the company and ultimately its shareholders take full advantage of the generous benefits which have been availed to companies that list on this growing exchange.”

“The amount of growth we have experienced in the last couple of years is truly attributable to our parent ministry, which has stood by the VFEX vision and seen to it that we operate in the most conducive environment to achieve that. Your efforts have never gone unnoticed”, said Dr Fundira.

African Sun Limited becomes the 11th company to list on the VFEX and the third listing of the year following Axia Corporation and INNSCO limited.

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