16 March, 2024Mutapa Investment Fund takes over Zesa, RBZ...

16 March, 2024
Mutapa Investment Fund takes over Zesa, RBZ firms

The purpose of using Mutapa to own the investments is to help ensure that they are profitable and well-run.

Such sovereign wealth funds are used in several countries to build up a portfolio of investments for the benefit of the people and at times have been used to ensure that any sudden temporary bursts of wealth, such as an oil strike, result in investments that will continue to provide national income when that resource is exhausted.

After the transfers in September last year and this week, Mutapa Investment Fund now owns major entities such as the National Railways of Zimbabwe, Air Zimbabwe, Zesa, POSB and NetOne, among commercialised parastatals. It now also has a range of mining interests, including the transferred State shares in Hwange Colliery Company and Kuvimba Mining House, a joint venture with private investors, plus major agricultural concerns such as the State shareholding in Cottco. – Herald

https://www.thezimbabwemail.com/business/mutapa-investment-fund-takes-over-zesa-rbz-firms/