‘Mutapa fund serves national interests’

Blessings Chidakwa Herald Reporter

The recently upgraded and extended sovereign wealth fund, the Mutapa Investment Fund, will focus on serving national interests ahead of personal ones to ensure all Zimbabweans benefit, chief executive Dr John Mangudya, told his first meeting with staff.

A large block of State-owned Enterprises and parastatals were put under the direct control of Mutapa so they maintain profitability, or become profitable if not already there, and build up investment assets that belong to the people.

Speaking during the meeting at the Mutapa offices in Harare, Dr Mangudya said all employees should prioritise national interest.

“The vision of Mutapa Investment Fund is to create a sustainable and profitable entity that serves the national interest above all. We need to safeguard national assets and to sweat them for the greater good of the Zimbabwean economy.

“As a key objective in the long-term economic stabilisation policy of the Government, Mutapa Investment Fund is dedicated to building a stabilisation fund that will support the nation’s economic growth and development in line with the aspirations of Vision 2030.”

Dr Mangudya said Mutapa was the sovereign wealth fund of Zimbabwe, with a key focus on value and wealth creation for the good of the nation.

By promoting good corporate governance and reinvesting profits into viable and profitable entities, Mutapa would drive economic development and stability in Zimbabwe, he said. Mutapa aimed to promote good corporate governance and performance within all its portfolio companies, ensuring their commercial viability for the benefit of the people.

At group level, said Dr Mangudya, Mutapa would prioritise understanding the needs of the entities under it, and reinvesting profits for the continuous growth and development of the nation.