Edgars Group Lists on the VFEX

Written by on April 8, 2024


Jonathan Sibanda

Edgars Stores Limited makes a historic move, becoming the Victoria Falls Stock Exchange’s (VFEX) first listing of 2024 and the exchange’s first foray into the clothing retail sector. This marks a significant milestone for Edgars, as they officially migrate from the Zimbabwe Stock Exchange (ZSE) after a near five-decade presence since 1974. This strategic shift positions Edgars Group as the 15th company listed on VFEX since its 2021 launch, granting them access to the exchange’s US dollar-denominated market for future growth opportunities.

Speaking at the ceremony, Edgars Board Chairman Mr TN Sibanda cited the need for a stable currency as a major reason for the migration from ZSE, amongst others.

The Minister of Industry and Commerce, Hon. Ngqobizitha Mangaliso Ndlovu, represented by the Director of Commerce and Consumer Affairs in the Ministry, Mrs. Netai Loice Magade, congratulated the Edgars Group. He expressed his delight at this migration, as it is a key initiative by the private sector that complements the government’s efforts to grow the economy and uplift the standard of living for the populace.

Edgars Stores Limited, which comprises Edgars Stores, Jet, Carousel, and Club Plus, has been experiencing growth over the last few years. They recently opened their 27th Edgars store last month, and there are plans to expand production at Carousel and to reintroduce Express Stores.

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