The Mutapa Investment Fund (MIF) CEO John Mangudya has revealed plans to leverage Zimbabwe’s mineral resources to revitalize struggling parastatals.
Established under The Sovereign Fund Act, MIF aims to turn state-owned enterprises profitable by reallocating assets across sectors, particularly directing resources from mining to key entities like ZESA and NRZ.
Dr Mangudya said currently, parastatals contribute only 10-15% to GDP, down from 40% due to mismanagement and poor governance.
He indicated that MIF recently injected US$10 million into Invictus Energy and conducted a comprehensive assessment of 29 companies under its management, identifying key areas for capital and governance improvements. Entities under MIF include NetOne, Air Zimbabwe, TelOne, and Hwange Colliery Company.
