Kavango resources plants flag on VFEX, strengthens nation’s mining vision

Rutendo Nyeve in Victoria Falls

KAVANGO Resources PLC has officially listed on the Victoria Falls Stock Exchange (VFEX), becoming the bourse’s 17th listing, a move that signals growing international confidence in Zimbabwe’s economic reforms and mineral potential.

The listing ceremony, held here in Victoria Falls on Friday, was a testament to the event’s national importance, with the Minister of Mines and Mining Development, Winston Chitando, presiding as the guest of honour.

He was joined by a high-level delegation including the Matabeleland North Minister of State for Provincial Affairs and Devolution, Richard Moyo, the Deputy Minister of Finance, Economic Development and Investment Promotion, David Mnangagwa, and the Reserve Bank of Zimbabwe Deputy Governor, Mr Innocent Matshe.

The listing marked a key moment for Zimbabwe’s capital markets and its mining sector, positioning the country as a serious destination for exploration capital.

Kavango, which maintains its primary listing on the London Stock Exchange (LSE: KAV), undertook the secondary listing as a strategic commitment to its operations in Zimbabwe.

Speaking to the delegates who witnessed the listing, Minister Chitando described the listing as a critical step in the journey from geological potential to national prosperity.

“Let us remember: Every mine starts as an idea. A target. A geochemical anomaly. A magnetic signature on a geophysical survey. A few metres of promising core. From those beginnings, fortunes are built — for shareholders, for workers, and for nations,” he said.

He directly linked the mining sector’s growth to the nation’s broader economic ambitions.
“Let us remember also, the development of an economy starts with a vision, the upper-middle-income target started with a vision and the mining sector is playing its part in the attainment of this vision,” he said.

Minister Chitando emphasised that the VFEX is a cornerstone of the Government’s strategy to attract investment.
“By listing on the VFEX, Kavango has helped demonstrate that Zimbabwe is open for transparent, well-regulated capital formation. The VFEX is a vital component of our financial infrastructure, designed to support mining companies in raising growth capital in US dollars under conditions that are competitive with those of any global mining jurisdiction,” he said.

He also issued a call for skills development, urging exploration companies to help train the next generation of Zimbabwean geologists, engineers, and data scientists.

“We are committed to building an industry in which Zimbabweans not only dig the ground but also interpret the results and lead the discoveries,” he said.

The listing was hailed as a milestone for the young exchange.
Group Chairman of ZSE Holdings, Mrs Caroline Sandura, described it as a celebration of confidence, growth and the positive journey towards making VFEX a hub of opportunity for Zimbabwe, Africa and beyond.

“Kavango’s arrival brings new opportunities for investors and a new chapter in the journey of building a modern financial marketplace,” she said.

Significantly, she revealed that the listing coincides with advanced plans to launch a commodities exchange on the VFEX platform, which will facilitate the trading of different minerals.

For Kavango, the decision to list locally is rooted in a long-term vision for its operations in Zimbabwe.
“Kavango is committed to Zimbabwe for the long term. We recognise that our responsibilities extend well beyond exploration and mining — they include building lasting, positive change wherever we operate. Our decision to list on the VFEX is a vote of confidence in Zimbabwe, in its people, and in the future of its mining industry,” said Chief Executive Officer, Mr Ben Turney.

Mr Turney highlighted the inclusive nature of the listing.

“It enables Zimbabweans themselves to invest in our growth and share in the value we create. It strengthens the VFEX, connects us more deeply with our host country, and helps ensure that exploration success translates into broad-based development,” he said.

Kavango’s move is strategically multi-faceted. It promotes national ownership by allowing Zimbabwean investors, pension funds, and asset managers to participate directly in the company’s future success.

The proximity of the listing to its operations aligns its financial presence with its physical activities on the ground.
Crucially, the VFEX offers Kavango access to US dollar capital under competitive conditions, with benefits including no capital gains withholding tax and the exemption of raised funds from the RBZ’s mandatory surrender requirements, allowing for longer-term financial planning.