UPDATE 1-Mwana Africa gets debt funding for Zimbabwe mine

* Will accelerate refurbishment of Freda Rebecca mine

* Sees first tranche of $10 mln loan before year end

* Expects to raise output to 50,000 ozs/year next September

(Adds interview with CEO, share price, analyst comment)

By Julie Crust

LONDON, Nov 4 (Reuters) - Mwana Africa Plc (MWA.L) has gained approval for $10 million of debt funding to accelerate the expansion of the Freda Rebecca gold mine in Zimbabwe.

The company expects to get the first tranche, up to $4 million, of the loan before the end of the year, chief executive Kalaa Mpinga told Reuters in an interview.

The loan from the Industrial Development Corp of South Africa, a state-owned finance institution, will enable Mwana to accelerate the mine's refurbishment programme.

It plans to increase production to more than 50,000 ounces of gold a year on completion of Phase II.