Mutapa Investment Fund
TypeGovernment owned
IndustryDiversified investments
Founded2014
Headquarters
Harare
,
Zimbabwe
Area served
Zimbabwe
Key people
Revenuenot disclosed
not disclosed
not disclosed
Total assets$97.5 million (2015 [2])
OwnerGovernment of Zimbabwe
Number of employees
not disclosed yet
ParentFinance 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).[3] 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.[4] 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.[5] It manages 20 parastatal entities.[6]

History

In 2013, the parliament of Zimbabwe drafted the Sovereign Wealth Fund Bill. It was then passed and the SWFZ come into existence in 2014.[3]

Controversies

There is a lot of outcry among people from various groups concerning the renaming and restructuring of Mutapa Investment Fund.[7] These people includes journalists, tribal extremist and politicians.

Entities Managed

References

  1. 1 2 "New board for Sovereign Wealth Fund". The Herald.
  2. ↑ "Sovereign Wealth Fund of Zimbabwe (Mutapa Investment Fund) - Sovereign Wealth Fund, Zimbabwe - SWFI". www.swfinstitute.org.
  3. 1 2 Independent, The Zimbabwe. "Sovereign Wealth Fund - Zimbabwe Independent". The Zimbabwe Independent. Retrieved 2023-10-01.
  4. ↑ Mutowekuziva, Tracy. "Is Zim ready for Sovereign Wealth Fund?". The Zimbabwe Independent. Retrieved 2023-10-01.
  5. ↑ Host-Madsen, Poul (July 1962). "Asymmetries between Balance of Payments Surpluses and Deficits". Staff Papers - International Monetary Fund. 9 (2): 182. doi:10.2307/3866114. ISSN 0020-8027.
  6. 1 2 "New Mutapa fund takes over shares in 20 entities". The Herald. Retrieved 2023-10-01.
  7. ↑ Muzulu, Paidamoyo. "Mutapa Fund: The looting machine". NewsDay.
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