News / National
ASIF endorses Mutapa Investment Fund
3 hrs ago | Views
The African Sovereign Investors Forum (ASIF) has formally welcomed the Mutapa Investment Fund (MIF) as its newest member, marking a significant milestone for Zimbabwe's sovereign wealth fund.
Formerly known as the Sovereign Wealth Fund of Zimbabwe, MIF was rebranded through Statutory Instrument 156 of 2023 following President Emmerson Mnangagwa's re-election. The state-owned fund, led by CEO John Mangudya, is established under the Sovereign Wealth Fund Act (Chapter 22:20) and is financed through fiscal surpluses, resource earnings, privatisation proceeds, and foreign currency operations.
The endorsement, announced at ASIF's 2025 meeting, boosts MIF's prospects of engaging with strategic partners across the continent. Zimbabwe joins Ghana's Petroleum Fund and others as new members, expanding ASIF's membership to 17 sovereign wealth funds.
A key outcome of the meeting was the creation of three thematic working groups on agricultural development, climate finance, and data infrastructure, designed to advance collaborative projects that support sustainable growth and intergenerational wealth transfer.
ASIF, launched in 2022 with 10 founding members, has quickly expanded its network to foster cross-border investment collaboration in Africa. The council is set to reconvene later this year to review progress and map out future strategies.
MIF's inclusion highlights Zimbabwe's growing integration into continental investment platforms and signals greater opportunities to channel capital into transformative projects across Africa.
Formerly known as the Sovereign Wealth Fund of Zimbabwe, MIF was rebranded through Statutory Instrument 156 of 2023 following President Emmerson Mnangagwa's re-election. The state-owned fund, led by CEO John Mangudya, is established under the Sovereign Wealth Fund Act (Chapter 22:20) and is financed through fiscal surpluses, resource earnings, privatisation proceeds, and foreign currency operations.
The endorsement, announced at ASIF's 2025 meeting, boosts MIF's prospects of engaging with strategic partners across the continent. Zimbabwe joins Ghana's Petroleum Fund and others as new members, expanding ASIF's membership to 17 sovereign wealth funds.
ASIF, launched in 2022 with 10 founding members, has quickly expanded its network to foster cross-border investment collaboration in Africa. The council is set to reconvene later this year to review progress and map out future strategies.
MIF's inclusion highlights Zimbabwe's growing integration into continental investment platforms and signals greater opportunities to channel capital into transformative projects across Africa.
Source - newsday
