By 
By Ross Moyo
Former Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Panonetsa Mangudya has said all Sovereign Wealth Fund entities and companies were stand alone companies but have now all been consolidated under the Mutapa Investment Fund (MIF).
Now the Mutapa Investment Fund Chief Executive Officer (CEO), Dr Mangudya said his State-owned investment company, has done la thorough legit consolidation of State Institutions under its wings.
“Previously, they were all standalone companies and now they have been consolidated,” said the former RBZ Governor.
“Right now, we are busy finalising and assessing the value all the assets under the management of the fund.
“After a month from now, we will know the fund is valued at x billion dollars, which is the total value of the assets under the fund.”
Mangudya added that MIF is also conducting a valuation of its assets to determine the sovereign fund’s value.
According to the MIF chief executive, the fund has engaged an external party to help in this process.
MIF is comprised of assets from various State-owned entities, consolidated into a single fund to generate wealth for Zimbabwean citizens.
One of Zimbabwe’s largest Telcos NetOne and TelOne, the National Railways of Zimbabwe (NRZ), Air Zimbabwe, Cottco, National Oil Company of Zimbabwe(NocZim), Cold Storage Company, Fidelity Gold Refinery, Homelink, Zimbabwe Power Company (ZPC), the Industrial Development Corporation of Zimbabwe and Hwange Colliery Company Limited, now HCCL Holdings, are some of the entities now under the purview of Mutapa Investment Fund.
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