ZSE engages miners to establish commodities exchange platform
ZIMBABWE Stock Exchange Holdings (ZSE Holdings) is partnering with key players in the commodities sector to accelerate the long-delayed launch of the Victoria Falls Commodity Exchange (Vcomex), a platform expected to deepen the country’s capital markets and enhance transparency in mineral trading.
The initiative comes nearly a year after the Victoria Falls Stock Exchange (VFEX) announced plans to operationalise the trading of minerals through Vcomex.
The legal foundation for the exchange was set in October 2024 when Statutory Instruments 148 and 149 of 2024 established the regulatory framework governing commodity trading on the VFEX.
However, despite the groundwork, the project has yet to move from concept to reality.
ZSE Holdings chief executive officer Justin Bgoni said the group has adopted a new, more collaborative strategy to ensure the exchange meets industry needs.
“We have changed our approach and are now working closely with market participants to develop the commodities exchange. This holistic approach will ensure we develop a comprehensive framework that works for our market,” he told businessdigest.
Bgoni added that while miners are currently benefiting from record-high gold prices, the exchange’s long-term value lies in providing structure, transparency and fairness in pricing and trade execution.
“The recent surge in gold prices does not impact the work on the ground. Miners continue to benefit from current market prices, while the commodities exchange will provide a more structured, transparent and fair marketplace, enhancing market access and price discovery for all participants,” he said.
A key feature of the planned exchange, Bgoni noted, will be inclusivity, allowing artisanal and small-scale miners to trade alongside larger producers.
“The commodity exchange will be inclusive and provide space for artisanal and small-scale miners to participate. A key function of the exchange is to standardise the quality and quantity of minerals traded,” he said.
“Once these standards are established in consultation with industry stakeholders, including artisanal miners, buyers and regulators, they create a level playing field for all participants.”
According to information gathered by this publication, the exchange will operate under clearly defined modalities and technical benchmarks to promote transparency, consistency and confidence among traders and investors.
“For each mineral, the exchange will establish minimum quantity and quality thresholds, developed in consultation with key industry stakeholders, including producers, buyers, laboratories and regulators,” Bgoni detailed.
“Valuations will be carried out through the market after accredited laboratories and certified assayers have verified the grade/s.”
While the focus on Vcomex continues, ZSE Holdings has also prioritised the launch of the Zimbabwe Entrepreneurs Exchange (ZEEX), a separate platform tailored for small and medium enterprises.
ZEEX will cater to firms with valuations ranging from US$50 000 to US$1 million, offering a tiered listing structure to promote enterprise growth and formalisation.
The renewed momentum behind Vcomex underscores Zimbabwe’s drive to unlock value from its resource-rich economy.
With the mining sector projected to generate US$6,2 billion in earnings this year, up from US$5,9 billion in 2024, the successful establishment of a commodities exchange could mark a pivotal step toward creating a more efficient, transparent and globally-aligned trading environment.