By Pride Mzarabani
HARARE – Pfuma Fund REIT is set to list on the Victoria Falls Stock Exchange (VFEX) tomorrow February 4, 2026, after successfully completing its capital-raising exercise, in a move that underscores growing investor appetite for hard-currency denominated real estate assets in Zimbabwe.
The real estate investment trust achieved a full subscription, raising its targeted US$25 million, a clear signal of robust institutional and high-net-worth investor confidence despite prevailing macroeconomic uncertainties. The oversubscription risk appetite reflects a broader shift by investors toward income-generating, inflation-hedged assets, particularly those offering exposure to prime commercial and retail property.
The impending VFEX listing is strategically significant, as it provides Pfuma Fund with access to foreign currency-based capital markets, enhancing transparency and governance standards while offering investors improved price discovery and secondary market liquidity. The listing is also expected to broaden the REIT’s investor base, particularly among offshore and diaspora investors seeking regulated Zimbabwean assets denominated in US dollars.
The VFEX listing further strengthens the exchange’s role as Zimbabwe’s preferred platform for US dollar-denominated securities, reinforcing its appeal as a conduit for capital formation in real assets. With Pfuma Fund joining a growing list of VFEX-listed entities, the development is expected to deepen market depth and enhance the exchange’s profile as a credible alternative to traditional property investment channels.
However, market activity on the Zimbabwe Stock Exchange continues to be subdued.
At the close of today’s session the ZSE All Share Index lost 3.35% to close at 339.59. Market turnover amounted to ZWG 6.76 million, with 1.58 million shares exchanging hands across 68 deals. Econet dominated activity in both volumes and value after 615 300 shares worth ZWG 4.76 million
The Top Ten Index shed 3.93% to close at 346.34 despite gains from Delta Corporation Limited traded up 0.08% to close at 2907.0752c, Cbz Holdings Limited went up 0.21% to 1 267c, British American Tobacco Zimbabwe Limited increased by 0.02% to 14590.0000c.
However, Econet Wireless Zimbabwe Limited eased 13.95% to close at 773.5772c, the company is trading on a cautionary statement as it remains in engagements with the ZSE with a view to publishing a circular to shareholders in relation to the proposed voluntary delisting of the Company which, if successful , will result in the proposed listing of Econet Infrastructure Company, a vehicle holding Econet’s real estate, telecommunications tower and renewable energy assets (“Econet InfraCo”), on the Victoria Falls Stock Exchange.
Mashonaland Holdings Limited decreased by 0.04% to 129.9500c.
The Mid Cap Index lost 0.12% to close at 328.13
Trading in the positive: Unifreight Africa Limited went up 4.89% to 183.51c. TSL LIMITED increased by 0.33% to ZWG 292.0000c with the company having recorded revenue increase and declaring a final dividend of 0.742 US cents per ordinary share in respect of the financial year ended October 31, 2025.
Trading in the negative: Proplastics Limited traded 3.70% lower at 130.0000c. Rainbow Tourism Group Limited decreased by 1.58% to 137.7826c. Tn Cybertech Investments Holdings Limited eased 3.93% to close at 12.0679c.
On the Victoria Falls Stock Exchange (VFEX), The VFEX All Share Index gained 4.43% to close at 212.43.
Trading in the positive: Innscor Africa Limited added 15.40% to 1.28 US cents. African Sun Limited added 8.84% to 5.10 US cents. Zimplow Holdings Limited gained 2.69% closing at 4.20 US cents. First Capital Bank Limited went up 2.28 to 8.96 US cents. Axia added 0.08% to 13.28 US cents. Padenga Holdings Ltd went up 0.03% to 72.53 US cents.
Trading in the negative: Simbisa Brands Limited decreased by 0.18% to 59.62 US cents. Kavango Resources Plc eased 4.00% to close at 1.92 US cents.
