Mutapa Investment Fund Key to Zimbabwe’s Economic Growth

Sikhulekelani Moyo

THE Mutapa Investment Fund (MIF) is there to provide funding to develop the country’s economy.

This was revealed by MIF head of economic research, Dr Fox Kanongwere at the Bulawayo Investment Indaba while presenting on the role of Mutapa Investment Fund in Zimbabwe’s economy.

He said the fund is also meant to contribute to the country’s revenue with a vision to secure a successful future for Zimbabwe.

“These entities under the MIF portfolio used to contribute 40 percent to the Gross Domestic Product, but now they are contributing 20 percent, and we want to increase that to 30 percent by 2030,” said Dr Kanongwere.

He said companies like NRZ and ZESA being under the MIF portfolio are set to contribute to the growth in the national and provincial GDP.

“AFC and POSB are our portfolio financiers, they have good products and should contribute to the GDP of the city.”

He said the budgetary allocation, which used to be allocated to these portfolio companies, will be directed to other projects under NDS1 priorities.

Dr Kanongwere said portfolio companies should also start to contribute to export growth under different clusters created.

To address corporate governance, Dr Kanongwere said they have managed to appoint a board of directors on merit, and the performance is improving.