Business Reporter
PROMINENT professional services firm, Grant Thornton Zimbabwe has endorsed the Mutapa Investment Fund (MIF) financial standing confirming credibility and professionalism at the institution.
This week, the MIF published a consolidated annual report containing grounded details of its financial standing for the first year of existence. The gesture signifies a serious attempt to bring information on key public assets and investments to public disclosure.
The nod granted by Grant Thornton Zimbabwe qualifying the MIF financial standing and status as a going concern marks a new era of hope in SOEs revival program which could unlock more potential for the economy.
“The Fund has performed a going concern assessment in order to support the 2024 annual reporting process. This assessment has relied on the Fund’s financial results for the period ended 31 December 2024 as well as the 2025 to 2027 operational business plan. The operational business plan considered the projected profitability over the plan period together with other items which may impact the Fund’s ability to continue as a going concern,” the Auditors opinion reads in part.
Grant Thornton said the results of the projections indicate that the Fund is expected to remain sufficiently capitalized to continue as a going concern.
The firm said no material uncertainty in relation to the going concern has been identified prompting the directors to consider it appropriate for the going concern basis to be adopted in preparing the annual financial statements.
Added the statement, “In our opinion, except for the effect(s) of the matters described in the Basis for Qualified Opinion section of our report, the financial statements present fairly, in all material respects, the financial position of Mutapa Investment Fund as at 31 December 2024, and its financial performance and cash flows for the period then ended in accordance with International Financial Reporting Standards (IFRSs) as issued by the International Accounting Standards Board.”
Analyst Jabulani Chibaya said the latest developments signal the dawn of a new era for the country’s quest to revive SOEs and wealth generation.
“The MIF is not yet a return machine. It is a repair shop for Zimbabwe’s national balance sheet. The Grant Thornton audit confirms credibility. The report confirms honesty. The next phase will test discipline. If governance holds, MIF could become Zimbabwe’s most important economic stabiliser of the next decade—quietly, structurally, and permanently.”
