The Sentry’s latest report on the Mutapa Investment Fund (MIF) has been met with scepticism and criticism, suggesting potential wrongdoing or unethical behaviour. The report uses language such as “raises concerns,” “overvaluation of shares,” and “transfer of public wealth to private individuals,” indicating a negative perspective on the MIF’s dealings. However, it is essential for Zimbabweans and progressive global partners to understand that MIF is a crucial part of Zimbabwe’s economic transformation drive, aligned with the Government’s Vision 2030. This vision aims to deliver economic independence to the descendants of Mutapa, from whom the Fund derives its name.
The Sentry, a US intelligence tool established to promote regime change by discrediting independent leaders, has found an ally in Zimbabwe’s media through Trevor Ncube’s Alpha Media Holdings (AMH) and Dumisani Muleya of NewsHawks. These media houses have become conduits for The Sentry’s disinformation campaign against the Zimbabwean Government.
The Sentry, established in 2016, is a CIA-sponsored investigative project targeting governments in Southern Africa that resist Western influence. Co-founded by John Prendergast, former US National Security Council Director for African Affairs, The Sentry targets the Zimbabwean Government and ZANU PF, South Africa’s ANC, Angola’s MPLA, and Namibia’s SWAPO.
To understand the significance of the MIF, one must look at the historical context. The first Legislative Assembly elections in Rhodesia in 1898 included five members appointed by the BSA Company Board, signalling the company’s significant influence. Long after political independence in 1980, the remnants of BSAC’s economic control persisted. The MIF aims to dismantle these structures as part of the Fourth Chimurenga.
Following the Third Chimurenga, the Land Reform Programme, the Fourth Chimurenga, embodied by the MIF, represents Zimbabwe’s economic revolution. This initiative is crucial for achieving economic emancipation and true independence, emphasizing economic empowerment and self-determination.
Comparing the BSAC and MIF highlights the transformation. The BSAC was a colonial-era company with British ownership aimed at exploiting natural resources for British interests. In contrast, the MIF is a state-owned investment fund established by the Zimbabwean Government to drive economic growth and development for Zimbabwe’s benefit.
The MIF has several key goals: creating wealth for current and future generations, reducing reliance on Government funding for state-owned enterprises, driving economic growth and stability, promoting good corporate governance and practices, building a stabilization fund for national development, investing in a diversified portfolio of assets, enhancing investment assets for the public, and transforming state-owned enterprises into viable, profitable companies.
The MIF also serves as a tool for economic reform, aimed at dismantling colonial structures and promoting economic empowerment. Decolonization involves reclaiming control over natural resources, promoting economic self-determination, addressing historical inequalities, and fostering inclusive growth and development.
President Mnangagwa has emphasized that MIF will revitalize underperforming state-owned enterprises, giving them a new lease on life. In summary, the Mutapa Investment Fund is not merely a financial entity but a pivotal instrument in Zimbabwe’s journey towards economic sovereignty and independence, aligning with the nation’s historical struggles and future aspirations. Criticism from entities like The Sentry should be viewed with an understanding of their broader geopolitical agendas.
