DGCX Signed Strategic MoU with Zimbabwe Stock Exchange Subsidiary

In accordance with the agreement, DGCX will cooperate in establishing an international commodities exchange in Zimbabwe.

SEATTLE (Scrap Monster): The Dubai Gold & Commodities Exchange (DGCX) has signed a Memorandum of Understanding (MoU) with Victoria Falls Stock Exchange (VFEX)- a subsidiary of the Zimbabwe Stock Exchange (ZSE). The deal aims to strengthen bilateral cooperation and exchange of knowledge in connection with commodities trading. The one-year agreement was signed between Les Male, CEO of DGCX and Justin Bgoni, CEO of VFEX.

In accordance with the agreement, DGCX will cooperate in establishing an international commodities exchange in Zimbabwe. To this effect, it will extend technical support, knowledge and skills to VFEX. In addition, DGCX will also help in setting up a framework for a clearing and settlement commodities exchange. The association will deliver mutual benefits to both DGCX and VFEX.

Les Male, CEO of DGCX stated that the MoU is part of its wider strategy to strengthen commodities trading across Africa. The partnership will help to build on its expanding international footprint.

Meantime, Justin Bgoni, CEO of VFEX said that the fruitful exchange of ideas and technical know-how should help it to replicate the success of DGCX in Zimbabwe and in proposed VFEX-driven commodities exchange.

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