Online Reporter
Nqobile Bhebhe [email protected]
GOVERNMENT has formally invested its shares in Olivine Industries (Private) Limited and Surface Wilmar, formerly Surface Investments (Private) Limited, in the Mutapa Investment Fund, expanding the sovereign wealth fund’s portfolio of strategic local enterprises.
The development was gazetted through Statutory Instrument 136 of 2026, cited as the Sovereign Wealth Fund of Zimbabwe (Amendment of Fourth Schedule) Notice, 2026, which was published in a Supplement to the Zimbabwean Government Gazette on August 21.
The statutory instrument amends the Fourth Schedule to the Sovereign Wealth Fund of Zimbabwe Act [Chapter 22:20], which provides for the “Vesting of Shares of Certain Companies in Mutapa Investment Fund”.
Under the amendment, Olivine Industries (Private) Limited, registration number 102863A0242026, and Surface Wilmar, formerly Surface Investments (Private) Limited, registration number 102865A0242026, have been added to the schedule.
The notice was made by President Emmerson Mnangagwa in terms of Section 14(6) of the Sovereign Wealth Fund of Zimbabwe Act, following consultation with the Mutapa Investment Fund Board.
The latest move adds the two companies to the growing list of State interests formally vested in Mutapa as Government continues efforts to consolidate and professionally manage strategic State assets through the sovereign wealth fund.
Mutapa Investment Fund was established as Zimbabwe’s sovereign wealth fund to manage and invest State assets and natural resource proceeds for long-term economic development and inter-generational wealth creation.
Its portfolio is organised into several clusters, including mineral resources; energy and trading; information and communication technology; transport and logistics; agriculture and industries; financial services; and real estate.
The inclusion of Olivine and Surface Wilmar increases Mutapa’s exposure to the country’s agro-industrial and consumer goods value chains.
Olivine Industries is a diversified manufacturer with interests in edible oils, soaps and other consumer products, while Surface Wilmar is involved in the cooking oil and broader agro-processing value chain.
Their inclusion brings additional industrial and agro-processing assets under Mutapa’s portfolio and strengthens the fund’s presence in sectors linked to manufacturing, food production and consumer goods.
The statutory instrument provides the legal basis for the inclusion of the two companies in the Fourth Schedule, formally cementing their incorporation into the Mutapa portfolio.
The development comes as Government continues to position Mutapa Investment Fund as a vehicle for unlocking value from State assets, improving their management and generating sustainable returns to support national development.
