By Loice Takarindwa (Staff Reporter)
In the high-stakes world of African finance, the line between visionary marketing and institutional deception is often paper-thin. Recent reports regarding WestProp Holdings and its CEO, Kenneth Raydon Sharpe, have raised serious red flags.
While the company propagates a “success narrative,” technical scrutiny suggests a coordinated effort to mislead the public through inflated valuations.
Technically, market capitalization relies on Price Discovery—the continuous buying and selling that determines an asset’s true value.
WestProp’s purported $300 million valuation appears to be a “Paper Valuation” devoid of actual market liquidity.
Following a disastrous 2023 IPO that raised a negligible $14,050 against a $10 million target (a 0.14% subscription rate), the shares have seen almost zero secondary market trading.
In professional terms, this is a “Zombie Listing”; the company is listed but remains “Illiquid,” making the $300 million figure a theoretical construct rather than a realized market price.
This scenario exposes significant disclosure deficiencies.
WestProp’s failure to fully transparently navigate ongoing litigation and land tenure disputes—most notably the Pomona City wrangles—constitutes a potential breach of fiduciary duty.
When a company with such minimal turnover is touted as a “Top 10” giant, it implies that the Victoria Falls Stock Exchange (VFEX) may be struggling to enforce rigorous listing requirements.
Furthermore, Sharpe’s reported $730 million net worth is irreconcilable with the “dismal flop” of his primary investment vehicle.
If the holdings are untradable and fail to attract institutional underwriting, the valuation is likely “Inflated Alpha.”
By presenting these unverified figures, media outlets risk creating a “Speculative Bubble” that harms retail investors and portrays African capital markets as playgrounds for “Crony Capitalism” rather than transparent hubs for growth.
Source: Zimheadlines ZW
