Kavango Resources draws fresh capital after Zimbabwe listing

Kavango Resources Plc, a London-based mineral exploration company backed by the Kansagra family, has raised an additional £150,000 ($200,000) through a new share subscription. The company issued 15 million new shares at 1 pence each, alongside an extra $129,035 from shares offered at the same price. 

This latest round of funding comes just weeks after Kavango completed a £2.2 million ($3 million) placement and subscription in the United Kingdom, and a $4.5 million share offering on the Victoria Falls Stock Exchange (VFEX). The company said the new investment reflects continued demand from investors in both Zimbabwe and the UK. 

Strengthening exploration efforts across Southern Africa 

Kavango said the fresh capital will be directed toward expanding its exploration and development programs across Southern Africa, where it holds a mix of gold and base metal projects. The funds will also help the company push forward on its commitments in Zimbabwe, which has become a key focus area for growth. 

On Friday, Kavango’s stock traded at 1 pence on the London market, down 2.2 percent for the day and 4.6 percent lower over the past 12 months. Despite modest declines, analysts say the steady interest in the company’s shares suggests investors remain confident in its assets and its long-term plans in the region’s mining industry.

Kansagra family strengthens support

Founded in 2017, Kavango has been expanding its footprint across Southern Africa, with Zimbabwe now emerging as a key focus of its growth plans. The company’s secondary listing on the VFEX—supported by the Kansagra family and several Zimbabwean pension funds—is viewed by market observers as a sign of renewed confidence in the country’s mining sector. 

The Kansagra family, through Solai Holdings and its subsidiary Purebond now owns 70.2 percent of Kavango, representing about 2.14 billion shares. While no single shareholder holds full control, the family’s position makes them a central backer of the company’s expansion strategy. 

The Kansagras, whose business interests span agribusiness, manufacturing and trading, have increasingly turned their attention to mining. Their growing involvement reflects a broader belief in Southern Africa’s mineral potential and the role private investment can play in revitalizing the region’s resource industries.