President appoints Mutapa Investment Fund board

President Mnangagwa

President Mnangagwa has approved the appointment of a seven member Mutapa Investment Fund board to be chaired by Dr Chipo Mutasa.

A recent Statutory Instrument gazetted by President Mnangagwa invoked his Presidential Powers to temporarily amend the Investment Laws to rename and upgrade the old Sovereign Wealth Fund and transfer the shares in 20 State-owned enterprises to the Mutapa Fund.

The Government shareholding in a large block of 20 State-owned companies has been transferred to the Mutapa Investment Fund, the upgraded and renamed Sovereign Wealth Fund, including mines, major power stations, the National Railways of Zimbabwe, Air Zimbabwe, NetOne and TelOne, Cottco and Zupco.

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