Online Reporter
Today, our Reporter Harmony Agere is coming to you live from the Harare Institute of Technology, where the Zimpapers Business Hub is hosting an exclusive lecture series featuring Dr John Mangudya, the esteemed CEO of The Mutapa Investment Fund (MIF).
The Public Lecture, organized by Zimpapers in partnership with the Harare Institute of Technology and Mutapa Investment Fund , was sponsored by ZESA Holdings, NetOne, AFC Insurance, AFC Leasing, CABS, POSB, TelOne, Air Zimbabwe, FBC Holdings, BDO, Petrotrade, Willowvale Motor Industries, Homelink, Export Credit Guarantee Corporation of Zimbabwe.
Dr Mangudya will be providing an in-depth breakdown of the inner workings and guiding philosophies that underpin Zimbabwe’s Sovereign Wealth Fund.
The Mutapa Investment Fund is a pivotal national entity, and its operations are already beginning to impact the country’s industries and overall economy.
This is your essential opportunity to get the facts, figures, and insights about this crucial institution straight from the source. You don’t want to miss this!
Stay tuned.
Professor Kanhukamwe highlights role of research and innovation in economic development
Harare Institute of Technology (HIT) Vice Chancellor Professor Quinton Kanhukamwe has underscored the critical role of university-led research and innovation in driving Zimbabwe’s economic transformation, stating that collaboration between universities and national institutions is key to shaping policy and strengthening national resilience.
Speaking at the Zimpapers Public Lecture on Mutapa Investment this morning, Professor Kanhukamwe noted that when government, business, and universities collaborate, research moves beyond academic boundaries to guide capital allocation and inform development policy.
“This signals the importance of ensuring that our brightest ideas are supported by patient, visionary investment and that economic transformation is anchored in innovation-led growth,” he said.
Professor Kanhukamwe emphasised that industry–university partnerships are no longer optional but strategic, as they align education with development needs, research with industrial growth, and innovation with employment creation.
When effectively structured, he stated, such partnerships become engines for inclusive growth, technological sovereignty, and sustainable national development.
He described the occasion as a defining milestone for Zimbabwe’s premier innovation universities, revealing that HIT has deliberately structured its architecture, culture, and DNA to support the country’s modernisation and industrialisation agenda.
Dr Mangudya explains Mutapa Investment Fund
The Mutapa Investment Fund (MIF), Zimbabwe’s Sovereign Wealth Fund, was established to preserve, grow, and deploy national wealth in support of long-term economic transformation, Dr John Mangudya has stated.
Mangudya was explaining the mandate and evolution of the Fund during a public lecture at HIT.
He outlined its legal foundation, strategy, and role in driving national development.
He noted that MIF was originally established in 2014 through an Act of Parliament as the Sovereign Wealth Fund of Zimbabwe under Chapter 22:20.
The Fund was later remodelled and renamed the Mutapa Investment Fund on 19 September 2023, following the enactment of the Finance Act No. 13 of 2023.
He pointed out that under its initial design, the Fund was meant to be capitalised using royalties, dividends, profits from investments, as well as fiscal and balance of payments surpluses.
However, the strategy has since shifted.
“The new strategy capitalises the Fund through the transfer of thirty state-owned enterprises and investments under the Government portfolio,” he said.
This approach allows the Fund to directly manage and enhance the performance of key national assets.
Dr Mangudya stated that the Mutapa Investment Fund is aligned with global best practices, drawing comparisons with sovereign wealth funds such as Ethiopian Investment Holdings, Mubadala Investment Authority of the United Arab Emirates, Dubai Investment Authority, and Singapore’s Temasek Holdings.
He emphasised that the Fund is anchored on strong governance values that include accountability, transparency, excellence, commitment, integrity, and sustainability.
He further revealed that MIF is a product of extensive research conducted by the State Enterprises
Restructuring Agency (SERA), aimed at improving the performance and efficiency of state-owned enterprises by eliminating bureaucracy and red tape.
Dr Mangudya explains Mutapa Investment Fund
The Mutapa Investment Fund (MIF), Zimbabwe’s Sovereign Wealth Fund, was established to preserve, grow, and deploy national wealth in support of long-term economic transformation, Dr John Mangudya has stated.
Mangudya was explaining the mandate and evolution of the Fund during a public lecture at HIT.
He outlined its legal foundation, strategy, and role in driving national development.
He noted that MIF was originally established in 2014 through an Act of Parliament as the Sovereign Wealth Fund of Zimbabwe under Chapter 22:20.
The Fund was later remodelled and renamed the Mutapa Investment Fund on 19 September 2023, following the enactment of the Finance Act No. 13 of 2023.
He pointed out that under its initial design, the Fund was meant to be capitalised using royalties, dividends, profits from investments, as well as fiscal and balance of payments surpluses.
However, the strategy has since shifted.
“The new strategy capitalises the Fund through the transfer of thirty state-owned enterprises and investments under the Government portfolio,” he said.
This approach allows the Fund to directly manage and enhance the performance of key national assets.
Dr Mangudya stated that the Mutapa Investment Fund is aligned with global best practices, drawing comparisons with sovereign wealth funds such as Ethiopian Investment Holdings, Mubadala Investment Authority of the United Arab Emirates, Dubai Investment Authority, and Singapore’s Temasek Holdings.
He emphasised that the Fund is anchored on strong governance values that include accountability, transparency, excellence, commitment, integrity, and sustainability.
He further revealed that MIF is a product of extensive research conducted by the State Enterprises Restructuring Agency (SERA), aimed at improving the performance and efficiency of state-owned enterprises by eliminating bureaucracy and red tape.
Mutapa’s Portfolio
The Fund operates in the following multiple sectors of the economy that include thirty (30) investee companies and more than thirty (30) subsidiaries of the portfolio companies, namely: Mineral Resources, Energy & Trading, ICT, Transport & Logistics, Agriculture & Industrials, Financials Services and Real Estate.
Some of the companies are listed here.
Mining Companies
The mining portfolio is critical to the extraction of natural resources that fuel Zimbabwe’s economy.
They extract valuable resources that contribute to the country’s economic growth and development. We are committed to ensuring responsible and sustainable mining practices that benefit the people of Zimbabwe and the environment.
• Kuvimba Mining House (Pvt) Ltd
• Bio Metallurgical Zimbabwe (Pvt) Ltd
• Bindura Nickel Corporation (Pvt) Ltd
• Freda Rebecca Gold Mine (Pvt) Ltd
• Great Dyke Investments (Pvt) Ltd
• Homestake Mining and Technical Services (Pvt) Ltd
• Jena Mines (Pvt) Ltd
• Kwekwe Consolidated Gold Mines Pvt) Ltd
• Mineral Development (Pvt) Ltd
• Shamva Mining Company (Pvt) Ltd
• Sandawana Mines (Pvt) Ltd
• Zimbabwe Alloys (Pvt) Ltd
• Hwange Colliery Company (Pvt) Ltd.
• Kamativi Tin Mines (Pvt) Ltd
• Zimbabwe Consolidated Diamond Company (ZCDC) (Pvt) Ltd
Energy
Energy companies are essential to powering Zimbabwe’s economy. With a portfolio that includes ZESA, Zimbabwe Power Company, and other energy-related entities, Mutapa is committed to providing reliable and affordable energy solutions to customers.
Trading
Trading portfolio companies are involved in the refinery and trading of gold and the distribution of fuel and electricity.
• Fidelity Gold Refinery (Pvt) Ltd
• Genesis Energy (Pvt) Ltd
• Petrotrade (Pvt) Ltd
Telecommunications companies
• NetOne Cellular (Pvt) Ltd
• TelOne (Pvt) Ltd
• Telecel Zimbabwe (Pvt) Ltd
Agriculture Companies
The Fund’s agricultural companies are critical to feeding Zimbabwe’s growing population. With a portfolio that includes Cottco, Arda Seeds and Cold Storage Company Limited (CSC), Mutapa is committed to promoting sustainable agriculture practices that benefit both our customers and the environment. Agricultural companies focus on increasing commercial farming for domestic demand and exports, promoting food security and economic growth.
Manufacturing Companies
Manufacturing companies are essential to producing goods that meet the needs of Zimbabwe’s
consumers. With a portfolio that includes Chemplex Corporation, Willowvale Motor Industry
Development, Silo Investments, Allied Timbers, and other manufacturing entities, they are committed
to promoting industrial development and economic growth in the country.
The companies produce essential goods and services, promoting industrial development and economic growth.
Top professionals attend lecture
Senior executives, business leaders, and government officials are in attendance at the Harare Institute of Technology (HIT) for the Zimpapers Public Lecture focusing on the Mutapa Investment Fund (MIF).
The high-level engagement has brought together key stakeholders from the media, tourism, telecommunications, and investment sectors, highlighting the growing interest in the role of the Mutapa Investment Fund in driving economic growth and value creation across strategic industries.
Among the notable attendees were Zimbabwe Tourism Authority (ZTA) Chief Executive Officer Dr George Manyaya, Zimpapers Group Chief Executive Officer Mr William Chikoto, and NetOne Communications Director Dr Runyararo Mahomva.
The lecture has also attracted various top business executives, investors, and senior government officials, underscoring the importance of public-private dialogue on investment governance, transparency, and the future direction of state-owned enterprises under the Mutapa Investment Fund.
The Zimpapers Public Lecture is expected to stimulate informed discussion on investment management and national development priorities.
Mutapa moves to capacitate state enterprises, key companies
The Mutapa Investment Fund (MIF) has stepped up efforts to capacitate state enterprises and strategic companies as part of a broader drive to strengthen service delivery and commercial performance, Chief Executive Officer Dr John Mangudya has stated.
Speaking on ongoing reforms, Dr Mangudya said the Fund is expanding the National Oil Infrastructure Company’s (NOIC) capacity to handle larger fuel volumes. “We want to capacitate NOIC to handle more oil—up to five billion litres,” he said.
“It used to be 1.8 billion litres, and now we are currently at three billion; we are aiming to take it to five billion.”
He stated that MIF will also rebundle the Zimbabwe Electricity Supply Authority (Zesa) as part of restructuring efforts within the power utility.
According to Dr Mangudya, Zesa will be transformed into Zesa Private Limited, with existing entities becoming divisions under the new structure.
“The process has already started,” he said.
At the National Railways of Zimbabwe (NRZ), the Fund is providing capital for the refurbishment of wagons, rail tracks, and communication lines to revive rail operations.
Dr Mangudya added that Air Zimbabwe is among the state enterprises earmarked for capacitation, as MIF works to stabilise and reposition key national companies for growth.
MIF has a duty to improve governance and service delivery within its assets
The Mutapa Investment Fund (MIF) Chief Executive Officer, Dr John Mangudy, has stated that the sovereign wealth fund is focused on strengthening corporate governance, enhancing service delivery, and improving financial performance across its portfolio companies to boost Zimbabwe’s economic development.
Dr Mangudya explained that MIF’s mandate is centred on transforming state-owned enterprises into efficient and profitable entities that contribute meaningfully to the country’s growth.
“Our objective is to improve corporate governance across portfolio companies, enhance service delivery, and improve the financial performance of these companies,” he said.
Dr Mangudya noted that improving operations within key state enterprises will ultimately translate into broader economic benefits for Zimbabwe.
He added that the success of MIF initiatives will be reflected in visible transformations in major public institutions.
“If you see improved Zesa, if you see improved NRZ, if you see Air Zimbabwe working, know that the Mutapa Investment Fund is working,” he said.
Government looking to revive Telecel
The Mutapa Investment Fund is looking to resolve “issues” at Telecel before considering taking it on board as part of its assets.
The Government of Zimbabwe owns 60 per cent of the shares in Telecel.
However, the mobile operator has fallen behind its competitors in terms of both market share and revenue.
Responding to questions from the floor, MIF CEO Dr John Mangudya stated that the Fund is aware of the challenges at Telecel.
“We know the challenges at Telecel, but the first thing is to fix them so that it becomes competitive,” he said.
“We can’t just take them on board; otherwise, we would be throwing money down the drain.
“There is also the issue of shareholding. The Government owns 60 per cent, and we can’t just take the other 40 per cent and say you are now 100 per cent owned by the Government, so it’s a process.”
Public lecture improves accountability and transparency: NetOne CEO
NetOne Chief Executive Officer Raphael Mushanawani says the Public Lecture on the Mutapa Investment Fund was key in strengthening accountability, transparency, and ethical leadership within Zimbabwe’s economic institutions.
Speaking at the Zimpapers Public Lecture on MIF, Mr Mushanawani stated that the inaugural lecture had clarified key issues.
He said the forum highlighted principles such as accountability, excellence, commitment, integrity, and sustainability as pillars for building a prosperous and secure Zimbabwe.
“The lecture has re-emphasised the tenets of national wealth creation, preservation, and investment, which are central to Zimbabwe’s long-term economic transformation,” said Mushanawani.
He noted that the investment culture being promoted aligns with the Government’s “Zimbabwe is Open for Business” policy introduced in 2017, adding that the Mutapa Investment Fund continues to drive the vision of positioning Zimbabwe as an attractive destination for foreign direct investment.
Zimpapers to take public lecture on MIF across Zimbabwe
Zimpapers plans to take its Public Lecture series on the Mutapa Investment Fund (MIF) to audiences across
Zimbabwe, following the success of its inaugural event in Harare today.
Speaking at the lecture, Zimpapers Editorial Executive and Head of News, Elias Mambo, stated that the initiative aims to extend critical information about MIF to other regions of the country.
“Other regions, other provinces can hear this information,” he said.
“So, in the forthcoming months, we’ll be looking to expand.
“We want to take you to Bulawayo, we want to take you to Masvingo, we want to take you to Mutare. So be ready to accept our invitation,” he added.
He expressed gratitude to the hosts, the Harare Institute of Technology, and highlighted the support of event partners and sponsors, including NetOne, POSB, PetroTrade, AFC Commercial Bank, BDO, and others, whose contributions were key to the event’s success.
