By 
By Ross Moyo
Mutapa Investment Fund (MIF) Chief Executive Officer, Dr John Mangudya has said his Mutapa will use its balance sheet to provide capital to fund entities in need of recapitalisation.
Dr Mangudya exclusively revealed this while updating undertakings the fund has been involved in,
“The balance sheet is made up of companies that are cash cows and others that need support,” the former Reserve Bank of Zimbabwe governor said.
The MIF CEO further stated,
“So, for those that need support, you can leverage on the balance sheet, get money and deploy to those where there is need for support.”
MIF was birthed out of the Sovereign Wealth Fund Act (Chapter 22:20), which established the Sovereign Wealth Fund of Zimbabwe, promulgated in 2015.
Following its promulgation, the operationalisation of the fund advanced slowly but surely as the Second Republic opted for many progressive methods of capitalising the fund.
President Mnangagwa made a decisive move to operationalise and adequately capitalise Mutapa, after comprehensive consultations with stakeholders.
Amendments to the Sovereign Wealth Fund Act through Statutory Instrument 56 of 2023 were major decisions he made, including the initial transfer of Government shareholdings in 22 entities to Mutapa.
Mutapa underwent a name change, transitioning from the Sovereign Wealth Fund of Zimbabwe to the current Mutapa Investment Fund, as stipulated in the Mutapa Investment Fund: Presidential Powers (Temporary Measures) (Investment Laws Amendment) Regulations, 2023, additionally.
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