Diaspora Kapita plans to use the resources to help Zimbabweans based abroad to buy real estate back home, The Herald wrote on December 2.

“The bond will target institutional and retail investors, and its repayment will be funded by offshore diaspora communities purchasing properties. This creates a robust foreign currency revenue stream for investors,” it cited Diaspora Kapita CEO Vhusi Phiri as telling the Association of Investment Managers of Zimbabwe meeting in Cape Town, South Africa recently.

The VFEX, with about 15 listings, offers tax incentives and other benefits to investors.  It was launched two years ago.

It already has a $50mn bond by Tharisa, a multi-metal miner that is listed in South Africa’s Johannesburg Stock Exchange and LSE.

The Herald said Diaspora Kapita was founded by 13 Zimbabweans based abroad and has investments in financial services, insurance, agritech and funeral services. It collects about $46mn annually in funeral premiums.

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Staff Reporter