Mutapa Investment Fund | |
Type: | Government owned |
Foundation: | 2020 |
Location City: | Norton |
Location Country: | Zimbabwe |
Key People: |
|
Industry: | Diversified investments |
Area Served: | Zimbabwe |
Assets: | $97.5 million |
Assets Year: | 2015[1] |
Revenue: | not disclosed |
Operating Income: | not disclosed |
Net Income: | not disclosed |
Num Employees: | not disclosed yet |
Parent: | Finance Ministry |
Owner: | Government of Zimbabwe |
Mutapa Investment Fund, formerly known as the Sovereign Wealth Fund of Zimbabwe is a Zimbabwean sovereign wealth fund formulated by the Sovereign Wealth Fund Act (Chapter 22:20).[2] It was renamed after the re-election of Emmerson Dambudzo Mnangagwa as the president of Zimbabwe, doing so by using Statutory Instrument 156 of 2023.[3] It is a state-owned investment fund established from the balance of payment surpluses, official foreign currency operations, the proceeds of privatisation, government transfer payments, fiscal surpluses and resource earnings.[4] It manages 20 parastatal entities.[5]
In 2013, the parliament of Zimbabwe drafted the Sovereign Wealth Fund Bill. It was then passed and the SWFZ come into existence in 2014.[2]
There is a lot of outcry among people from various groups concerning the renaming and restructuring of Mutapa Investment Fund.[6]