UK-listed Kavango Resources plans a second listing on the Victoria Falls Stock Exchange (VFEX) to fund its gold projects in Zimbabwe, providing local investors with new opportunities.
If successful, Kavango will join Caledonia, Padenga, Rio Zim, Hwange Colliery Mine, and Bindura Nickel Corporation as the sixth mining entity on local exchanges. This move supports calls for enhancing local bourses to attract funding for Zimbabwe’s mining sector.
Kavango CEO Ben Turney highlighted that the VFEX listing would expand the company’s capital pool and shareholder base, emphasizing local ownership. The company’s Nara Gold Project near Bulawayo includes four historic mines with past production exceeding 90,000 ounces. Zimbabwe’s mining sector contributes 13% to GDP, with US$1.5 billion invested in recent years and an additional US$456 million planned for production boosts.
