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Mutapa Investment Fund board appointed

Story by Stanley James

THE government has appointed a board of directors for the newly upgraded Sovereign Wealth Fund, the Mutapa Investment Fund paving the way for its operationalisation.

A statement released by the Treasury on Monday shows that President Emmerson Mnangagwa has approved the appointment of Mrs Chipo Mutasa as the chairperson of the Fund, deputised by Mr Lesley Ndlovu.

Other board members of the Fund are Mr. Farai Mutamangira, Thembelihle Khumalo, Bart Mswaka, Mrs Charity Jinya and Prassard Bhamre.

The fund is made up of over 20 state-owned entities whose asset base runs into billions of United States Dollars.

Some of the utilities under the fund include Kuvimba Mining House, Air Zimbabwe, NetOne, TelOne, Cottco, ZUPCO and the National Railways of Zimbabwe (NRZ).

The Mutapa Investment Fund is also a state-owned facility established from the balance of payment surpluses and offshore foreign currency operations resource earnings among others.

In a related development, the treasury has assured Zimbabweans of continuous tight fiscal and monetary policies to consolidate macro-economic gains.

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