Staff Reporter

Following the operationalisation of the Mutapa Investment Fund, President Emmerson Mnangagwa has appointed board members responsible for managing the entity.

In a statement yesterday, President Mnangagwa announced the names of the seven-member board.

“To this end, I am pleased to announce that, as a further step towards the reforms and the operationalisation of the Fund, His Excellency, the President of the Republic of Zimbabwe, Cde. Dr. E. D. Mnangagwa, has approved the appointment of the following professionals to serve as board members of the Mutapa Investment Fund; Chipo Mutasa (Chairperson), Lesley Ndlovu (Vice Chairperson), Thembelihle Khumalo, Farai Mtamangira, Bart Mswaka, Charity Jinya and Prassad Bhamre.

“Government is determined to establish a world class sovereign wealth fund and it is envisaged that the board will make a strong contribution towards this objective. May I take the opportunity to wish the new board members success in their new role and to register Government`s commitment to support the board in its work,” said President Mnangagwa.

The Mutapa Investment Fund is owned by the Republic of Zimbabwe and its objectives are to make secure investments for the benefit and enjoyment of future generations of Zimbabwe, to support the development objectives of the Government, including its long-term economic and social development, to support fiscal or macroeconomic stabilization, and to contribute to the revenues of the country from the net returns on its investments.

Government is determined not only that it earns a return on its investments starting with its investments in the companies listed in Statutory Instrument 15 of 2023, but also to foster sustainable employment creation, and ultimately that the companies operate profitably and contribute to the fiscus.