HARARE – Hospitality group African Sun has announced plans to delist from the Victoria Falls Stock Exchange (VFEX), nearly three years after joining the United States dollar-denominated bourse.
African Sun listed on the VFEX in 2023, citing expectations that the move would enhance its regional profile and commercial standing while improving access to foreign currency capital.
In a statement, the company said the proposed delisting forms part of an “ongoing strategic review and value-unlocking initiatives.”
Market watchers say the decision reflects shifting corporate priorities within Zimbabwe’s hospitality sector, which continues to adjust to evolving investment dynamics and capital allocation strategies.
African Sun indicated that it is currently rationalising its asset portfolio, including the disposal of selected hotel properties. The proceeds from these transactions are expected to be channelled towards the refurbishment and upgrading of key assets within its portfolio.
The group did not specify a timeline for the delisting but noted that shareholders would be advised of the relevant processes and approvals in due course.
The VFEX, launched to attract foreign investment through USD-based listings, has positioned itself as a platform for companies seeking currency stability and offshore capital flows. African Sun’s exit is likely to draw attention from investors assessing the exchange’s performance and long-term appeal.
African Sun remains one of Zimbabwe’s prominent hospitality operators, with interests spanning urban hotels, resort properties, and conference facilities.
