At a Glance
- Kavango debuts on VFEX with 20% stock gain, boosting investor confidence.
- The listing signals Zimbabwe’s push to attract global mining and capital market investment.
- The company plans rapid production growth after $16 million exploration in Zimbabwe.
Kavango Resources, a metals exploration and gold production company, has officially joined the Victoria Falls Stock Exchange (VFEX), marking a boost for Zimbabwe’s efforts to draw global investment into its mining sector.
The company becomes the 17th listing on VFEX, a bourse launched five years ago to serve as Zimbabwe’s offshore-focused capital market. VFEX has carved out a niche by attracting companies seeking international investors while giving them a platform to raise hard currency.
Strong market reception
VFEX chairperson Caroline Sandura said Kavango’s arrival reflects renewed confidence in Zimbabwe’s financial markets. “This immediate positive reception underscores the market’s strong belief in Kavango’s potential,” she said after the stock opened with a 20% gain on debut.
She added that the secondary listing signals Kavango’s willingness to operate under global governance standards. “By joining VFEX, Kavango shows readiness to align with global norms while unlocking Africa’s mining opportunities,” Sandura said.
Government and investor support
The Zimbabwe Investment and Development Agency (ZIDA) described the move as a significant endorsement of the country’s mining sector.
“Kavango’s focus on exploration before extraction sets the right example for responsible mining in Zimbabwe,” said Silibaziso Chizwina, ZIDA’s chief investment promotion officer.
Officials also point to VFEX’s plans to launch a commodities market that will allow investors to trade minerals directly, further strengthening Zimbabwe’s position as a regional hub.
Kavango’s push in Zimbabwe
Chief Executive Ben Turney said the company has made rapid progress since entering Zimbabwe in 2023. “We are now bringing two discoveries into production. Zimbabwe offers both speed and a highly skilled workforce, making it one of the fastest environments for growth,” Turney said.
Since arrival, Kavango has drilled more than 16,000 meters, discovered four new mineral deposits, and invested over $16 million locally.
Broader economic context
Provincial Affairs Minister Richard Moyo said the listing demonstrates broader confidence in the country’s investment climate under President Emmerson Mnangagwa. “This partnership brings jobs, business growth, and sustainable opportunities for communities,” he noted.
Kavango Resources Plc, listed in London since 2017, focuses on Southern Africa, particularly Botswana and Zimbabwe. The company uses advanced exploration technologies to identify copper, gold, nickel, and platinum group metals.
With Zimbabwe positioning VFEX as a regional capital markets hub, Kavango’s listing is expected to encourage further foreign participation in Southern Africa’s mining industry. For both the exchange and the company, the debut underscores Zimbabwe’s ambition to transform its mineral wealth into long-term economic growth.
