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Joshua Muswere
Herald Correspondent
Mutapa Investment Fund (MIF) chief executive officer Dr John Mangudya has challenged the Exporters Credit Guarantee Corporation of Zimbabwe (ECGC) to innovate, adapt and align its services and products to trending market developments while leveraging on the Sovereign Wealth Fund of Zimbabwe.
He was speaking at the corporation’s 25th anniversary celebrations last Friday.
The corporation was founded under the Reserve Bank of Zimbabwe and is now under the Mutapa Investment Fund.
“As part of Mutapa Investment Fund, ECGC now stands to benefit from the strategic oversight of the Sovereign Wealth Fund of Zimbabwe,” said Dr Mangudya.
“The Mutapa Investment Fund, with its diverse portfolio and robust governance framework, provides the necessary support for ECGC to expand its reach and impact.
“This underscores the Government’s commitment to leveraging strategic investments for national development, and I urge you to take advantage of this opportunity.
“Key also is the need for ECGC to provide local companies with financial instruments like those offered by other global ECAs to enable them to be competitive both regionally and globally.”
Dr Mangudya also commended the corporation for the role it has been playing in economic development.
“Over the past 25 years, ECGC has been supporting Zimbabwean businesses, particularly in the export sector by offering export credit insurance,” he said.
“This product has enabled exporters to venture into new markets with confidence, knowing that they are protected against the risks of non-payment by foreign buyers.
“The corporation should continue to maintain its support for this sector as the country aims to solidify its standing as a major exporter globally.”
Incorporated in 1999, the corporation has grown to become the leading Export Credit Agency in the country, providing innovative products that mitigate risks and foster economic growth.
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