Kavango Resources to list on VFEX appoints new cha...

Kavango Resources to list on VFEX appoints new chairman

Nyashadzashe Ndoro

Chief Reporter

Kavango Resources plc, a Southern Africa-focused metals exploration company, has announced plans to list on the United States dollar denominated Victoria Falls Stock Exchange.

The company has engaged Inter Horizon Advisory as its lead financial advisor to facilitate the listing process. Kavango has also entered a further agreement with Nurture Investment Management Limited, a financial services firm providing asset management, private equity, investment advisory and corporate advisory services principally within Southern Africa.

In addition, Kavango Resources has appointed Thamsanqa Mpofu as the Chairman of its wholly-owned subsidiary, Kavango Zimbabwe (Private) Limited.

Mpofu brings extensive commercial and business management experience to the role, having previously served as Chairman of ZB Financial Holdings Limited and as an Independent Non-Executive Director of Rio Zim.

The listing on VFEX is expected to provide Kavango Resources with access to a larger pool of capital and a broader shareholder base, while also promoting local ownership in its projects.

The company has already made significant investments in Zimbabwe's gold exploration and mining development sectors since setting up its local subsidiary in July 2023.

Kavango Resources CEO Ben Turney stated that the listing demonstrates the company's commitment to investing in Zimbabwe and promoting local ownership in its projects. He also highlighted the potential for Zimbabwe to host large-scale, bulk minable gold deposits.

We set up Kavango Zimbabwe in July 2023. Over the past 12 months we have made a strong commitment to invest heavily in Zimbabwe's gold exploration and mining development sectors," he said.

A key part of our strategy is to promote local ownership in Kavango to share the rewards of future success. In keeping with the 2030 Vision to transform Zimbabwe into an upper middle-income economy, we are delighted to announce our listing on the Victoria Falls Stock Exchange. A thriving VFEX has the potential to attract significant foreign investment and Kavango locks forward to demonstrating that Zimbabwe is indeed 'open for business".

The VFEX was established in 2020 to spearhead the development of the International Financial Services Centre in Zimbabwe and has a listed market capitalization of US$1.26 billion. The exchange allows trading in United States Dollars and other convertible currencies.