Leading crocodile-skin supplier Padenga Holdings Limited has received a nod to list on Zimbabwe’s new bourse, Victoria Falls Exchange (VFEX), by July 9, Bloomberg reported.
Gary John Sharp serves as the CEO and executive director on the company’s board. The decision was made after shareholders met on July 2 to give approval for the VFEX listing.
The new bourse, which was established in October 2020, trades solely in U.S. dollars, a move that hopes to generate foreign earnings for Zimbabwe’s struggling economy.
Padenga will be the second listing.
Bloomberg cited Harare-based IH Securities Head of Research Lloyd Mlotshwa as saying the move is “an early step to enhancing the attractiveness of the VFEX by adding a quality, hard-currency-generating asset for investors to consider.”
Padenga ranks as one of the world’s largest crocodile-skin suppliers for luxury bags and shoes. It supplies skins to international brands.
Aside from skin production, Padenga is engaged in producing crocodile meat. It also rears crocodiles and alligators and exports Nile crocodile and alligator skins and meat to global customers.
Padenga operates the Kariba Crocodile Farm, Ume Crocodile Farm and Nyanyana Crocodile Farm. Each has a production capacity of about 14,300 animals annually.
