In a landmark development, Invictus Energy has successfully listed on the Victoria Falls Stock Exchange (VFEX) following a notable US$10 million capital raise. The listing came to life on August 2nd 2024 at a VFEX ceremony.
Invictus Energy, an Australian-listed oil and gas exploration company, has now cemented its presence in Zimbabwe’s financial market. The capital raise, managed by Mangwana Capital and underwritten by the Mutapa Investment Fund, showcases the depth of local institutional support. This dual listing on VFEX empowers local and regional investors to engage with Invictus’ securities, fostering enhanced market liquidity and investment opportunities.
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The involvement of the Mutapa Investment Fund, Zimbabwe’s sovereign wealth fund, is a testament to the project’s strategic importance. This partnership not only underwrites a significant portion of the capital raise but also aligns with the government’s broader economic objectives. The finalization of the Petroleum Production Sharing Agreement (PPSA) will ensure a fair and equitable revenue-sharing framework, fostering a mutually beneficial partnership between the government, Invictus, and other stakeholders.
It is expected significant economic impact such as: economic growth, increase government fiscal revenues, and new job opportunities.
The VFEX, established as a foreign currency-denominated bourse, provides an attractive platform for international investment. Its tax benefits and alignment with Zimbabwe’s Vision 2030 make it a pivotal component of the country’s financial strategy. The listing of Invictus Energy not only enhances the credibility of VFEX but also positions Victoria Falls as a regional financial hub, attracting both domestic and international investors .
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The strategic move highlights the potential of Zimbabwe as a burgeoning investment destination. As Invictus progresses with its ambitious exploration and development plans, the economic benefits are poised to resonate across the nation, heralding a new era of growth and prosperity.
