Nyore Madzianike
Senior Reporter
MUTAPA Investment Fund (MIF) is set to reorganise the Industrial Development Corporation of Zimbabwe (IDCZ) to strengthen corporate governance, enhance capitalisation and promote financial discipline.
The restructured IDCZ will provide advisory services to financial institutions within and outside the sovereign wealth fund’s portfolio, while assisting in restoring transparency and restructuring organisations under the MIF ambit to create a solid foundation for recovery.
The MIF chief executive officer, Dr John Mangudya, announced the development during a presentation on sovereign wealth funds to the National Defence Course No. 15 of 2026 at the Zimbabwe National Defence University in Harare. Dr Mangudya stated that the MIF has made significant progress in addressing historical governance challenges across its portfolio companies.
“Under the proposed structure, IDCZ would provide advisory services to financial institutions within and outside the fund portfolio and would also serve as an advisor to the Fund in originating and pursuing investment and financing mandates,” Dr Mangudya said.
In addition to the IDCZ reorganisation, Dr Mangudya revealed that the MIF is consolidating its telecommunications companies into a single entity to reduce operational costs and improve efficiency. The fund is also reorganising its insurance entities into a hub-and-spoke business model.
“MIF is making good progress to revive national assets that were placed under its ambit through addressing governance gaps and capital injection and effective oversight,” he said. “Cumulative dividends paid to the Fund amount to US$93 million. Gross amount disbursed to portfolio companies stands at US$152 million; tax contribution to the Government has improved following increased revenue generation by entities.”
He added that through these targeted investments, the fund has stimulated job creation, expanded domestic production, and strengthened economic value chains to reduce import dependence and drive export growth.
Dr Mangudya also confirmed that the MIF remains on course to establish the National Stabilisation Fund, which is designed to anchor macroeconomic stability, support fiscal sustainability, and preserve national wealth for current and future generations.
