Victoria Falls is seeking to establish itself as more than Zimbabwe’s tourism capital, with the launch of the Victoria Falls International Financial Centre (VFIFC) raising hopes that the city could become a leading financial gateway for Southern Africa.
Among the first companies licensed to operate under the VFIFC framework is ZimWorX, whose managing partner, James Wade Oliver Jr, believes Zimbabwe’s strategic location gives the centre a strong regional advantage.
“The VFIFC has the potential to become much bigger because of Zimbabwe’s central position within the Southern African Development Community,” Oliver said.
He noted that Zimbabwe shares borders with South Africa, Zambia, Botswana and Mozambique, while maintaining strong commercial ties with Namibia, Malawi, Angola and the Democratic Republic of Congo, making it well positioned to serve as a regional investment hub.
Oliver said businesses operating across Southern Africa could use Victoria Falls as a base to coordinate regional operations, improving efficiency and access to neighbouring markets.
He added that Zimbabwe also boasts a strong pool of skilled professionals, including lawyers, accountants, auditors and tax specialists, capable of supporting international investors and financial institutions.
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Although the financial centre is still in its early stages, Oliver said successful international financial hubs are built over time through consistent policies, investor confidence and sustained business growth.
“Today the VFIFC may primarily serve Zimbabwe, but over time it has the potential to support the wider region by attracting foreign direct investment, promoting financial innovation and expanding professional services,” he said.
The government has positioned the VFIFC as a key pillar of Zimbabwe’s strategy to become a competitive international financial services jurisdiction. Operating as a Special Economic Zone, the centre offers investor-friendly legislation, regulatory certainty and foreign currency-denominated financial services, while complementing the Victoria Falls Stock Exchange.
Officials say the framework draws on international best practices from established financial centres as Zimbabwe seeks to attract global investors and deepen regional financial integration.
For ZimWorX, becoming one of the first licensed companies represents a significant milestone. The firm, which employs nearly 1 800 remote and virtual workers, says the licence enhances its international competitiveness through improved market access, an investor-friendly business environment and a competitive tax regime.
The VFIFC is expected to create new opportunities for investors, entrepreneurs and financial service providers as it seeks to attract capital, institutions and specialised expertise, with supporters optimistic it can evolve into one of Southern Africa’s leading financial centres.