Business Reporter
THE Mutapa Investment Fund has implored the newly appointed National Railways of Zimbabwe (NRZ) CEO to turnaround the parastatal into an efficient corporate entity.
The MIF is Zimbabwe’s sovereign wealth fund, established to manage strategic state-owned enterprises (SOEs) and build generational wealth for the nation. Originally formed in 2014 as the Sovereign Wealth Fund of Zimbabwe, it was renamed and significantly expanded in September 2023.
The NRZ is one of the entities which currently falls under the MIF’s purview following years of rapid decline in both infrastructure and service delivery.
The latest remarks come shortly after the appointment of a new CEO ,Munyaradzi Charangwa who is expected to end the era of bad corporate governance at the SOE.
In his welcoming remarks, MIF deputy chief investment officer, Ernest Denhere underscored the strategic importance of rail infrastructure, urging the new CEO to turn around the fortunes of the parastatal.
“Railway infrastructure is a strategic national and regional asset, central not only to Zimbabwe’s economic recovery but also to regional trade and integration within southern Africa,” he said.
appointment, effective April 1, signals a deliberate transition to a modern executive leadership model aimed at repositioning the rail operator for growth and improved service delivery.
In a statement released on Saturday, NRZ said the appointment was announced by board chairperson Misheck Sibanda during a meeting with senior management in Bulawayo earlier this week.
NRZ said Charangwa brings more than 20 years of global experience in multi-asset investment management, programme and project management, as well as business turnaround strategies.
“His expertise spans infrastructure development, capital resource mobilisation, and business performance optimisation, with a focus on emerging and frontier markets across Africa, the Middle East and Central Asia,” the statement read.
Charangwa previously served as Head of Investments at the Zimbabwe Investment and Development Agency and at Old Mutual, and has also worked as a Government Investment Advisor to NRZ and other State-owned enterprises.
He holds a BA (Hons.) in Management from the University of Leeds, a Postgraduate Diploma in Business Project Management from the University of Huddersfield, and a Master’s degree in Investment Analysis with distinction from the University of Stirling.
