The Mutapa Investment Fund (MIF), with a portfolio valued at US$16 billion, is set to revitalize Zimbabwe’s economy by transforming its investee companies.
The fund, according to its CEO Dr. John Mangudya, has completed a diagnostic assessment, organizing its assets into six strategic clusters: mining resources, agriculture and industrials, ICT, transport and logistics, financial services and real estate, and energy and trading.
This restructuring is designed to boost efficiency, profitability, and corporate governance, aligning with the nation’s Vision 2030 to achieve economic prosperity.
In his recent State of the Nation Address (SONA), His Excellency President ED Mnangagwa emphasized the critical role of the Sovereign Wealth Fund in leveraging Zimbabwe’s natural resources for national benefit.
He noted that the mining sector, in particular, continues to attract significant investment, with a growing demand for energy minerals driving the country into the global value chain industries. The MIF’s substantial portfolio, which includes companies like Kuvimba Mining House (gold, lithium, nickel, platinum) and Zesa, positions the fund to capitalize on this growing market.
Mutapa’s asset holdings, spanning industries such as mining, telecommunications, and transportation, include major entities like National Railways of Zimbabwe, Air Zimbabwe, TelOne, Cottco, ZUPCO, and the Cold Storage Company, among others. This diverse range of assets equips the fund with the potential to impact key sectors critical to Zimbabwe’s economic development.
Internationally, the MIF ranks as the fourth-largest publicly owned asset manager on the continent, following Ethiopia’s Ethiopian Investment Holdings, South Africa’s Public Investment Corporation, and the Libyan Investment Authority. With its US$16 billion portfolio, the MIF surpasses any regional counterparts, including Botswana’s Pula Fund and Angola’s Fundo Soberano de Angola, positioning Zimbabwe as a competitive force in the sovereign wealth fund arena.
To ensure accountability and efficient management of its assets, the Mutapa Fund has established a transparent governance structure and appointed experienced investment professionals to oversee its operations. This commitment to transparency is essential for managing assets that significantly contribute to Zimbabwe’s GDP, positioning the fund as a driver of the country’s economic transformation.
Through its initiatives, the Mutapa Fund is not only safeguarding national resources but also spearheading Zimbabwe’s journey towards economic sustainability and industrial modernization.
