Harare, Zimbabwe – London-listed exploration company Kavango Resources has successfully raised US$2.2 million to accelerate its gold mining initiatives in Zimbabwe, a move expected to boost the country’s growing mining sector.
The funds, secured through a recent share placement, will be channeled into fast-tracking exploration activities at Kavango’s portfolio of gold projects, particularly in the Matabeleland region, which hosts some of the country’s most promising mineral deposits.
According to the company, the investment will allow for expanded drilling campaigns, geological surveys, and resource assessments, enabling it to move closer to defining commercially viable gold reserves. This step is also aimed at positioning Kavango as a key player in Zimbabwe’s mining industry at a time when the government is pushing for greater investment in the sector.
Mining remains a cornerstone of Zimbabwe’s economy, contributing nearly 60 percent of export earnings and employing thousands across the country. With global demand for gold on the rise, Kavango’s accelerated exploration program is seen as both a timely and strategic venture.
Analysts note that foreign investment of this nature also signals renewed confidence in Zimbabwe’s mining landscape, despite longstanding challenges such as infrastructure gaps and fluctuating regulations.
The company emphasized that the raised funds will not only enhance exploration efficiency but also support its broader vision of delivering long-term value to both shareholders and local communities in Zimbabwe.