Mineral exploration company Kavango Resources Plc, which has the backing of the wealthy Kansagra family, is moving ahead with plans for a secondary listing on the Victoria Falls Stock Exchange (VFEX) to raise funding for gold ventures in Zimbabwe.
As part of the listing, the London-headquartered firm will issue 333.4 million new shares. The bulk of these have been taken up by a group of nine Zimbabwean pension funds managed by Comarton Consultants alongside Purebond Ltd., an investment arm of the Kansagra family’s Solai Holdings. Purebond acquired 259.2 million shares, highlighting the family’s deepening commitment to the business.
The company has also set aside shares for local residents and awarded stakes to 157 of its Zimbabwe-based employees, a move designed to widen participation.
Kavango will channel the fresh capital into advancing its Hillside project in the Filabusi Greenstone Belt and other assets, with funds earmarked for mechanised mining at key deposits such as Nightshift, Steenbok, and Bill’s Luck.
Chief executive Ben Turney said the VFEX listing marks a turning point as the company transitions from exploration to production, adding that it secures support from both international investors and local pension funds. The listing comes shortly before the firm’s scheduled admission to London’s Main Market on September 19.
The Kansagra brothers Bhupendra, Rajni, and Ramesh have built Solai Holdings into a diversified group spanning agriculture, trading, and energy across Africa and the UK. Their majority stake of 70.2 percent in Kavango, held through Solai’s Purebond subsidiary, strengthens their footprint in natural resources and makes them among the company’s most influential backers.
Industry watchers say the move is another signal of renewed investor interest in Zimbabwe’s mining sector, with hopes that inflows of capital from both local pension funds and international partners will be matched by improved governance and transparency.
