Mutapa Investment Fund
| Company type | Government owned |
|---|---|
| Industry | Diversified investments |
| Founded | 2020 |
| Headquarters | , |
Area served | Zimbabwe |
Key people |
|
| Revenue | not disclosed |
| not disclosed | |
| not disclosed | |
| Total assets | $16 billion (2024 [1]) |
| Owner | Government of Zimbabwe |
Number of employees | not disclosed yet |
| Parent | Finance Ministry |
Mutapa Investment Fund, formerly known as the Sovereign Wealth Fund of Zimbabwe is a Zimbabwean sovereign wealth fund formulated by the Sovereign Wealth Fund Act (Chapter 22:20).[2] It was renamed after the re-election of Emmerson Dambudzo Mnangagwa as the president of Zimbabwe, doing so by using Statutory Instrument 156 of 2023.[3] It is a state-owned investment fund established from the balance of payment surpluses, official foreign currency operations, the proceeds of privatisation, government transfer payments, fiscal surpluses and resource earnings.[4] It manages 20 parastatal entities.[5]
History
[edit]In 2013, the parliament of Zimbabwe drafted the Sovereign Wealth Fund Bill. It was then passed and the SWFZ come into existence in 2014.[2]
Controversies
[edit]There is a lot of outcry among people from various groups[who?] concerning the renaming and restructuring of Mutapa Investment Fund.[6] These people includes journalists, tribal extremist and politicians.
Entities Managed
[edit]- Net*one Cellular (Private) Limited
- National Railways of Zimbabwe
- Air Zimbabwe
- TelOne
- Cottco
- Zupco
- Defold Mine
- Kuvimba Mining House
- Silo investments
- National Oil Company of Zimbabwe
- Cold Storage Commission Limited
- Petrotrade
- People's Own Savings Bank
- ZESA
- Fidelity Gold Refinery
- Homelink
- Arda Seeds
- Zimbabwe Power Company
- PowerTel Communications
- Allied Timbers
- Telecel
- Industrial Development Corporation
- Hwange Colliery Company[5]
References
[edit]- ^ www.sundaymail.co.zw https://www.sundaymail.co.zw/mutapa-assets-valued-at-us16bn.
{{cite web}}: Missing or empty|title=(help) - ^ a b Independent, The Zimbabwe. "Sovereign Wealth Fund - Zimbabwe Independent". The Zimbabwe Independent. Retrieved 2023-10-01.
- ^ Mutowekuziva, Tracy. "Is Zim ready for Sovereign Wealth Fund?". The Zimbabwe Independent. Retrieved 2023-10-01.
- ^ Host-Madsen, Poul (July 1962). "Asymmetries between Balance of Payments Surpluses and Deficits". Staff Papers - International Monetary Fund. 9 (2): 182–201. doi:10.2307/3866114. ISSN 0020-8027. JSTOR 3866114.
- ^ a b "New Mutapa fund takes over shares in 20 entities". The Herald. Retrieved 2023-10-01.
- ^ Muzulu, Paidamoyo. "Mutapa Fund: The looting machine". NewsDay.