President Emmerson Mnangagwa has expanded the Mutapa Investment Fund by adding seven additional parastatals.
The announcement was made through Statutory Instrument 51 of 2024, which was published in the Government Gazette on Friday, March 15.
The State shareholding in the following companies has been included in the Mutapa Investment Fund:
1. Aurex Private Limited
2. Export Credit Guarantee Corporation of Zimbabwe (Private) Limited
3. Fidelity Gold Refinery (Private) Limited
4. HomeLink Private Limited
5. HomeLink Finance (Private) Limited
6. ZESA Holdings Private Limited
7. ZESA Enterprises Private Limited
These additions were made in accordance with section 14(6) of the Sovereign Wealth Fund of Zimbabwe Act [Chapter 22:20] (No. 7 of 2014) and after consultation with the Mutapa Investment Fund board.
Notably, the Mutapa Fund will be led by outgoing Reserve Bank of Zimbabwe governor, John Mangudya, who will assume the role of chief executive officer.
Additionally, President Mnangagwa’s amendment to the Sovereign Wealth Fund of Zimbabwe Act (SI 56 of 2023) facilitated the transfer of the government’s shareholdings in 20 entities to the fund.
