South Africa-Based Diaspora Kapita to Issue $10M Diaspora Bond on VFEX

AFRICAN STOCKS AND FINANCEDecember 9, 2024 at 11:26 AM UTC

TLDR

South Africa's Diaspora Kapita is set to issue a $10 million Diaspora Remittance Bond targeting Zimbabweans overseas.
The proceeds will fund property acquisitions, including residential stands, shell houses, and completed units, for sale to the diaspora community.
The bond will be listed on the Victoria Falls Stock Exchange (VFEX) and repaid using foreign exchange from offshore buyers.

South Africa-based Diaspora Kapita (DK), an investment holding firm, is set to issue a $10 million Diaspora Remittance Bond targeting Zimbabweans overseas.

The proceeds will fund property acquisitions, including residential stands, shell houses, and completed units, for sale to the diaspora community. The bond will be listed on the Victoria Falls Stock Exchange (VFEX) and repaid using foreign exchange from offshore buyers.

DK, founded by 13 Zimbabwean expatriates, plans a reverse listing on VFEX through Bridgefort Capital, which delisted from the Zimbabwe Stock Exchange.

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Key Takeaways

CEO Vhusi Phiri revealed that the bond will allow local and institutional investors to harden their assets by linking repayments to foreign currency. Investors may also participate by contributing existing properties. Its VFEX listing will mark the first company generating all revenue offshore, giving investors exposure to foreign-exchange-backed assets while addressing housing needs for the diaspora community.

Finance

VFEX

Diaspora Bond

Diaspora Kapita

Zimbabwe

Bonds

Fixed Income

Bridgefort Capital