Old Mutual Returns to Zimbabwe Stock Market After Six-Year Absence

Africa's largest insurer by assets, Old Mutual, has returned to Zimbabwe's capital markets after a six-year absence. The company's shares began trading on the US dollar-denominated Victoria Falls Stock Exchange (VFEX) on Wednesday.

Old Mutual's listing was suspended in 2020 due to a currency crisis, but the VFEX operates in US dollars, offering a stable platform for companies and investors.

The insurer opened at 76 US cents before rising 2.9% to 78.17 cents by the close, valuing Old Mutual at approximately $51 million on the exchange.