Kavango plans listing in Zim, appoints chair for subsidiary
London-listed Kavango Resources has engaged advisers for a planned secondary listing on the Victoria Falls Stock Exchange (VFEX), in Zimbabwe, and has appointed Thamsanqa Mpofu chairperson of its subsidiary Kavango Zimbabwe.
The listing on the VFEX will provide Zimbabwe-based investors with the opportunity to participate in Kavango’s exploration and mining development opportunities, and, in turn, provide the company with a larger pool of capital and shareholder base.
The company also has the strategic objective of promoting strong local ownership in its projects, which include the Nara, Hillside and Leopard gold prospects, in Zimbabwe, as well as the Ditau gold prospect, in Botswana.
The VFEX currently has a listed market capitalisation of $1.26-billion, with 15 listed securities.
Inter Horizon Advisory is acting as the lead adviser for the proposed transaction, including obtaining regulatory approvals and preparing documents such as the pre-listing statement.
Another financial services firm, Nurture Investment Management, will be providing asset management, private equity and investment advisory services to the company.
Meanwhile, Mpofu has extensive commercial and business management experience with local and international organisations spanning the hospitality, distribution, manufacturing, mining, banking and education sectors.
He previously served as chairperson of ZB Financial Holdings, in Zimbabwe, as well as executive board member at Meikles Hospitality.
Kavango says Mpofu is a well-respected figure in Harare’s business circles and brings a high degree of stature to the company.
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