In a landmark achievement for Zimbabwe’s energy sector, Invictus Energy Ltd has completed the second tranche of its US$10 million Zimbabwe Strategic Capital Raise, with an additional US$2 million accepted in oversubscriptions. This milestone underscores growing investor confidence in the Cabora Bassa Project, home to the Mukuyu gas field and other promising prospects.
The capital raise, managed by Mangwana Capital (Private) Limited, highlights strong demand from institutional and private investors. The issuance of Zimbabwe Depository Receipts (ZDRs) on the Victoria Falls Stock Exchange (VFEX) provides local investors with direct access to the company’s transformative projects.
Invictus Energy Managing Director, Scott Macmillan, hailed the successful funding as a testament to the potential of the Cabora Bassa Project to drive energy independence and economic growth in Zimbabwe. With the funds secured, the company is set to accelerate exploration and development activities.
The Cabora Bassa Basin, spanning 360,000 hectares, represents a significant opportunity for Zimbabwe to harness its untapped energy resources. The Mukuyu gas field and Basin Margin prospects promise to revolutionize the country’s energy landscape while creating jobs and boosting industrial growth.
This achievement also marks a historic moment for local investors and reflects Zimbabwe’s growing stature as a hub for energy investments in sub-Saharan Africa. Invictus Energy’s collaboration with the Mutapa Investment Fund and its inclusive approach signal a bright future for the nation’s energy ambitions.
As the Cabora Bassa Project advances, it remains a cornerstone of Zimbabwe’s Vision 2030, laying the groundwork for sustainable economic transformation through energy innovation.
