Mutapa Fund Envisioned as Pillar of Zimbabwe’s Economic Revival

Finance Minister Mthuli Ncube has identified the Mutapa Investment Fund (MIF) as the cornerstone of Zimbabwe’s economic strategy. His optimism reflects the progress the fund has made.

As Zimbabwe’s Sovereign Wealth Fund, the MIF pools diverse resources, including public equities, government allocations, and commodity royalties. These assets are strategically invested to secure future generations’ economic well-being.

The origins of the fund date back to 2014, following the enactment of the Sovereign Wealth Fund Act. Its objectives extend to promoting development and ensuring sustainable financial growth for the nation.

Ncube underscored MIF’s potential during the 2025 National Budget presentation, emphasizing its role in fostering economic growth through strategic investments. He highlighted sectors like mining, energy, and manufacturing as primary targets.

The fund now oversees six distinct portfolio clusters: mineral resources; energy and trading; ICT, transport and logistics; agriculture and industries; financial services; and real estate. These additions expand its investment reach significantly.

By March 31, 2024, the fund’s portfolio had a gross fair value of approximately $16 billion. This figure underscores the fund’s growing influence within Zimbabwe’s economic framework.

Ncube emphasized the importance of governance and accountability within the fund’s operations. Transparent practices and ethical standards are key priorities across its portfolio companies.

To strengthen governance, the fund has initiated board inductions for major entities, including PetroTrade, ZESA, and the National Railways of Zimbabwe. This initiative reflects a focus on leadership efficiency.

The fund adheres to Zimbabwe’s Public Finance Management Act, ensuring operations align with legislative mandates. This legal framework supports transparency in financial decision-making processes.

Ncube remains confident that the fund’s strategic investments will yield sustainable economic value for the country. These efforts are intended to create a legacy of growth and resilience for future generations.

The Mutapa Investment Fund exemplifies Zimbabwe’s commitment to leveraging resources for long-term prosperity. Its success will likely serve as a model for economic development across the region.