Sovereign Wealth Fund board appointed

A new board of the Sovereign Wealth Fund of Zimbabwe has been constituted and given a detailed outline of its mandate.

ZBC reported that five members who were appointed to the board include former Governor of the Reserve Bank of Zimbabwe Dr Kombo Moyana as board chairman deputised by Ms Vimbayi Nyemba who is a member of the board of the Zimbabwe Stock Exchange.

The other three board members are Mr Nicholas Vingirayi, Ms Sithembile Pilime and Mr Nicholas Ncube.

The establishment of a Sovereign Wealth Fund was identified as one of the financing mechanisms necessary to ensure a more effective implementation of ZIMASSET.

Meanwhile, an additional four members will be appointed in due course.