Business Reporter
MUTAPA Investment Fund is currently undertaking an exercise to ascertain the net worth valuation of assets under its purview.
Dubbed the parastatals game-changer, the Mutapa Investment Fund is a pool of resources i.e. public equities, commodity royalties and allocations from the government that will be invested for the future.
The history of the fund can be traced back to 2014 when the Sovereign Wealth Fund Act was enacted.The fund has very clear objectives such as to invest for future generations and support the country’s development goals amongst others.
To date , 29 State Enterprises have been placed under the fund with the inaugural chief executive officer and former Reserve Bank of Zimbabwe governor Doctor John Mangudya.
Speaking to the media this week, Dr Mangudya revealed the MIF had embarked on an exercise to establish the net worth of assets at hand amid expectations the exercise will be completed soon.
“Right now we are busy finalising assessing the value of all the assets under the management of the fund.We have outsources accountants who are now working on establishing the actual value of the fund.
“After a month from now , we will know that the fund is valued at X Billion dollars , which is the total value of assets under the fund.From there , we will now chart ways on how to grow the fund,” he said.
Mangudya said the exercise will ascertaing whether the MIF is growing or shtrinking .
“Currently, weare looking at the base , because we need to know our opening balance.So that is being done by auditing firms,” he added.
