Nyore Madzianike-Senior Reporter
THE Mutapa Investment Fund is set to establish a National Stabilisation Fund next year aimed at anchoring economic stability, supporting fiscal sustainability and preserving wealth for current and future generations.
The move is expected to support the attainment of National Development Strategy 2 (NDS2) priorities and Vision 2030, which seeks to transform Zimbabwe into an upper-middle-income economy.
This was revealed by MIF chief executive officer Dr John Mangudya yesterday while delivering a presentation on sovereign wealth funds as economic anchors at the National Defence Course No. 15 of 2026 (NDC15/2026) at the Zimbabwe National Defence University in Harare.
In his presentation, Dr Mangudya outlined the role of sovereign wealth funds in guaranteeing State resilience and transforming State-owned enterprises into strategic national assets capable of safeguarding resources, stabilising the currency and driving long-term macroeconomic independence.
MIF is also set to reorganise the Industrial Development Corporation of Zimbabwe (IDCZ) to strengthen corporate governance, enhance capitalisation and promote financial discipline.
The restructured IDCZ will provide advisory services to financial institutions within and outside the Fund’s portfolio, while helping restore transparency and restructure organisations under MIF to create a solid foundation for recovery.
Dr Mangudya said MIF had made significant progress in addressing governance challenges within its portfolio companies. “Under the proposed structure, IDCZ would provide advisory services to financial institutions within and outside the Fund portfolio and would also serve as an adviser to the Fund in originating and pursuing investment and financing mandates,” he said.
Dr Mangudya said MIF was also consolidating telecommunications companies into a single entity to reduce operational costs and improve efficiency.
The Fund is also reorganising insurance entities into a hub-and-spoke business model.
Dr Mangudya said MIF’s performance improved during the 2025 financial year, recording a 139 percent increase in comprehensive income, a 406 percent increase in total income, a 502 percent increase in surplus and a 10,7 percent increase in assets.
“MIF is making good progress in reviving national assets placed under its ambit through addressing governance gaps, capital injection and effective oversight. Cumulative dividends paid to the Fund amount to US$93 million.
“The gross amount disbursed to portfolio companies stands at US$152 million, while tax contributions to Government have improved following increased revenue generation by entities. Through these investments, the Fund has stimulated job creation, boosted domestic production and strengthened value chains within the economy, significantly reducing import dependence and increasing exports,” he said.
Highlighting successful interventions by the Fund, Dr Mangudya said the National Oil Company of Zimbabwe was expanding its fuel pipeline capacity from three billion litres per year to five billion litres.
President Mnangagwa and his Mozambican counterpart launched the project in September.
He said MIF had injected US$13,6 million into the refurbishment of the Sable Chemicals Industries fertiliser plant, which is now 97 percent complete.
Dr Mangudya said the first phase was targeting annual production of 240 000 tonnes of ammonium nitrate fertiliser.
He said MIF had also injected US$5,3 million into Dorowa Mine for the refurbishment of its plant, a project that has since been completed.
The intervention is expected to increase production capacity from 15 000 tonnes to 80 000 tonnes.
Dr Mangudya also highlighted interventions aimed at reviving the National Railways of Zimbabwe, ZESA Holdings and the mining cluster. He said Mutapa Gold Resources had declared its inaugural dividend of US$35 million, with a further US$100 million expected.
Mutapa Energy Resources is also expected to declare a dividend following improved operations.
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