Mutapa Investment Fund has US$16 billion worth of assets under its management, John Mangudya, Chief Executive Officer of Zimbabwe’s sovereign wealth fund has disclosed.
Mangudya told the Sunday Mail that Mutapa in June completed a ‘comprehensive diagnostic assessment” of its portfolio.’
“The fund appointed reputable accounting firms to conduct the valuation of assets under the management of the fund,” Mangudya said.
He however did no name the audit firms that conducted the evaluation.
Companies under Mutapa include the National Railways of Zimbabwe, Air Zimbabwe, TelOne, Cottco and Defold Mine – which now holds mining assets that were once under the Zimbabwe Mining Development Corporation. Mutapa also controls the National Oil Company of Zimbabwe, Petrotrade, POSB, ZESA, and Fidelity, the country’s sole gold refinery, the Zimbabwe Power Company, PowerTel, Allied Timbers, Telecel and Hwange Colliery.
Zwnews
