Business Reporter
FINANCE Economic Development and Investment Promotion Minister, Professor Mthuli Ncube has pinned future funding hopes on the Mutapa Investment Fund (MIF) potential on the back of acknowledgement of positive strides made so far.
The MIF is Zimbabwe’s State owned Sovereign Wealth Fund (SWF) which 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.
Former Reserve Bank of Zimbabwe (RBZ) governor, Doctor John Mangudya is the current CEO of the MIF.
Speaking during the 2025 National Budget Presentation , Prof Ncube expressed confidence in the MIF potential going into the future.
“The Mutapa Investment Fund, as the country’s Sovereign Wealth Fund (SWF) is poised to contribute to the country’s economic growth and development by leveraging on strategic sector investments to create long-term sustainable value in sectors which include mining, energy and manufacturing,” he said.
Ncube said already , the portfolio clusters under the management of the Fund, have been expanded, bringing the total portfolio clusters under its management to six namely, mineral resources; energy and trading; information communication technology, transport and logistics; agriculture and industries; financial services; as well as real estate.
In this regard, he said ,the MIF has been actively pursuing a robust pipeline of transactions to enhance the value of companies under the portfolio.
“To date, the approximate fair gross value 187 of the Fund’s investment portfolio under management as at 31 March 2024 is US$16 billion.
“One of the major mandates of the Fund is to ensure sound corporate governance, transparency, accountability and ethical business practices across all its portfolio of companies with clear delineation of roles between the Board and management,” he said.
The Treasury boss said the Fund has been able to arrange governance and board inductions for Petrotrade, ZESA and the National Railways of Zimbabwe, among others.
“The operations of the Mutapa Investment Fund will continue to be guided by all supporting legislation including full adherence to the provisions of the Public Finance Management Act,” he added.
