Kavango Resources has officially joined the Victoria Falls Stock Exchange (VFEX) in Zimbabwe, marking a significant milestone for both the company and the country’s mining sector. The metals exploration and gold production firm becomes the 17th company to list on the exchange, which is celebrating its fifth anniversary.
At the listing ceremony on September 26, VFEX chairperson Caroline Sandura described Kavango’s entry as a new chapter in developing a modern and competitive financial market in Zimbabwe. The company’s debut trading session on September 8 saw its share price close 20% above the listing price, reflecting strong investor confidence.
“This immediate positive reception underscores the market’s strong belief in Kavango’s potential and solidifies its position as a promising new entrant,” Sandura said. She highlighted that Kavango’s strategy for mineral exploration across Southern Africa aligns closely with Zimbabwe’s broader goals of unlocking the nation’s natural resource potential. The secondary listing also underscores Kavango’s commitment to transparency, governance, and investor engagement.
The listing coincides with VFEX’s plans to launch a commodities exchange for trading and settling mineral assets, further supporting Zimbabwe’s ambitions as a mining hub.
Investment Confidence in Zimbabwe
Silibaziso Chizwina, Chief Investment Promotion Officer at the Zimbabwe Investment and Development Agency (ZIDA), praised Kavango’s confidence in the country’s mining sector and its collaborative approach with local stakeholders.
“Kavango’s focus on exploration before extraction is a model we hope both local and foreign mining companies will follow,” Chizwina said.
Since its entry into Zimbabwe in 2023, Kavango has made four mineral discoveries and drilled over 16,000 meters, investing more than $16 million in exploration. Kavango CEO Ben Turney emphasized the company’s long-term commitment to Zimbabwe, describing it as an environment conducive to mining growth.
“We’ve invested in our team, local communities, and infrastructure, and we are now advancing two of our discoveries toward production. Zimbabwe is a place where companies can grow rapidly, supported by an educated and hardworking population,” Turney said.
National Endorsement
Zimbabwe’s Provincial Affairs Minister Richard Moyo hailed Kavango’s listing as a strong vote of confidence in the country’s economic vision.
“This partnership will create jobs, support local businesses, and ensure that resource wealth translates into lasting prosperity,” Moyo said, crediting President Emmerson Mnangagwa for fostering a stable and transparent investment environment.
“May this be the start of a partnership that uplifts communities, strengthens our economy, and brings pride to every Zimbabwean,” he added.
