Mutapa seeks fresh capital to revitalise strategic assets

CLOUDINE MATOLA AND SAMANTHA MADE

The Mutapa Investment Fund is seeking to secure fresh capital to develop and revitalise the strategic assets under its portfolio.

The fund plans to mobilise domestic resources, pursue joint ventures, and reallocate capital from surplus to deficit units in a bid to stimulate growth and support underperforming entities.

Many of the companies under Mutapa were formerly state-owned enterprises that had become financially distressed and operationally inefficient. They were placed under the fund’s management with the aim of restoring viability and unlocking value.

Speaking at the Zimbabwe Economics Society (ZES) breakfast meeting on Tuesday, Mutapa Investment Fund CEO Dr. John Mangudya emphasised the importance of injecting fresh capital into the economy, rather than relying on recycled funds, in order to accelerate national development and move Zimbabwe closer to upper middle-income status.

“We want to secure fresh capital to develop the resources under Mutapa,” Mangudya said. “This will be achieved through domestic resource mobilisation—either via joint ventures, self-liquidating transactions, or leveraging surplus units to support deficit entities—so all entities can grow together as a team.”

He cited examples of internal leverage strategies, noting that if the fund can capitalise on revenue-generating assets like the national pipeline or gold reserves, the resulting proceeds could be redirected to support weaker companies such as Silo Foods.

“Silo Foods, for instance, may not be bankable enough to independently secure commercial funding. But within the Mutapa structure, we can channel funds from stronger entities to support it. It’s about creating synergy—moving resources from surplus to deficit, so the group grows collectively,” he explained.

Mangudya also revealed that the fund is engaging with international partners, including potential investors from France, to secure foreign direct investment.

“We have been engaging with the French Ambassador and exploring avenues for French investment into Zimbabwe. As Mutapa, we are prepared to lead such engagements. What this country needs now is fresh capital to grow—not recycled money. We need a proper injection into the system,” he added.

As part of its strategic direction, the Mutapa Fund is targeting a 10% contribution to Zimbabwe’s Gross Domestic Product (GDP). To track its economic impact, the fund is developing a comprehensive, real-time financial and economic dashboard in collaboration with the Zimbabwe National Statistics Agency (Zimstat) and the World Bank.

“We’ve contracted Zimstat to help us quantify the contribution of Mutapa entities to GDP. We are also working with the World Bank to create a real-time dashboard that captures economic indices and key financial data, including group revenues and cost of funding,” Mangudya said.

The dashboard is expected to be completed by the end of August and will serve as a transparency and accountability tool for both internal management and external stakeholders.

“We believe in the principle that what gets measured, gets managed. With this dashboard, we will have the tools to monitor performance in real time and ensure accountability across all Mutapa entities,” Mangudya said.

He reiterated that the fund’s broader mission is to stimulate economic development by turning underutilised public assets into viable, profitable ventures.

“We are rolling out this capital mobilisation plan because we are committed to building a stronger, more self-sufficient economy. By aligning our strategies with national development goals, Mutapa is positioning itself as a key player in driving Zimbabwe’s economic transformation,” Mangudya said.