The Victoria Falls International Financial Services Centre (VFIFC) officially took off yesterday, with the licensing of its first 38 participants, a milestone Government says marks a significant step in positioning Zimbabwe as a competitive international financial services jurisdiction.
Launching the inaugural licensed participants yesterday, the Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube, described the occasion as a landmark in Zimbabwe’s efforts to establish Victoria Falls as a world-class international financial hub.
“This is, without doubt, a landmark day for Zimbabwe, for our financial sector, and for our broader ambition to position Victoria Falls as a world-class international financial hub.
“Today’s ceremony signifies not merely the issuance of licences, but the successful implementation of a key Government policy initiative to position Zimbabwe as a competitive international financial services jurisdiction,” he added.
He said the VFIFC had been deliberately designed to offer more than a conventional financial centre.
“What makes the VFIFC distinct is the deliberateness of its design. Applicants are not merely joining a financial centre but an ecosystem,” he said.
Prof Ncube said the launch reflected the Second Republic’s commitment to creating an investment-friendly environment under President Emmerson Mnangagwa.
“Under the leadership of His Excellency, the President, Dr. Emmerson Dambudzo Mnangagwa, the Second Republic has consistently pursued policies to improve the ease of doing business and attract quality investment,” he said.
The inaugural intake comprises 38 licensed participants drawn from across the financial services industry, including an exchange, securities dealers, investment advisers, collective investment scheme fund managers, custodians, companies, consultancies and a central securities depository.
