Research says Mutapa Investment Fund could pioneer a hybrid investment model
A RECENT study by the SOAS University of London says the Mutapa Investment Fund (MIF)’s model could pioneer a hybrid public private investment framework. As the principal investment arm of the Zimbabwean government, MIF is a sector-agnostic fund that strategically invests in opportunities aligned with national development goals, spanning agriculture, renewable energy, technology, and mining. The […] The post Research says Mutapa Investment Fund could pioneer a hybrid investment model appeared first on NewZimbabwe.com.
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A RECENT study by the SOAS University of London says the Mutapa Investment Fund (MIF)’s model could pioneer a hybrid public private investment framework.
As the principal investment arm of the Zimbabwean government, MIF is a sector-agnostic fund that strategically invests in opportunities aligned with national development goals, spanning agriculture, renewable energy, technology, and mining.
The fund led by Chief Executive Officer, John Mangundya, generates income primarily through dividends and investment profits, and may selectively seek third-party funding, while maintaining conservative leverage through established risk and governance frameworks.
A recent study undertaken by prominent development economists, Professor Antonio Andreoni and top researcher Adrià Rius in a paper titled From Dormant to Catalytic: Mobilising Domestic Resources for Development Finance , which examined the evolution of the MIF, their findings established the existence of hybrid potential.
“Zimbabwe’s current model could pioneer a hybrid public-private investment framework for resource-based economies, provided that high accountability standards are maintained,” the paper said.
The researchers posits that the MIF has moved “from dormant to catalytic,” by transitioning from the common existing passive sovereign wealth fund status focused on fiscal savings to an active developmental and commercial investment vehicle.
The paper also credits the model for presenting opportunities for Institutional Modernisation viewing the consolidation of over 30 state-owned enterprises (SOEs) under MIF—spanning sectors like mining, energy, and infrastructure—as a move toward modernising state assets and improving fiscal oversight of quasi-fiscal activities.
Despite the potential, the study maintains that the success of this model depends on sustained accountability reforms and operational independence.
To ramp up accountability standards, the MIF has since published a consolidated annual report for 2024 was published, audited by Grant Thornton. The fund aligns with the Santiago Principles, a set of voluntary international standards for sovereign wealth fund transparency and governance.
It is supported by specialised board committees, including Finance and Audit and ESG, Risk, and Strategy committees.
Legally, it is subject to Section 298 of the Constitution of Zimbabwe which mandates that there must be transparency and accountability in all matters of public finance and is submissive to Section 119, which gives Parliament the power to ensure all state institutions are accountable.
The post Research says Mutapa Investment Fund could pioneer a hybrid investment model appeared first on NewZimbabwe.com.
