Zimbabwe expects its Mutapa Investment Fund to grow past $30 billion within five years, making it one of Africa's largest wealth funds. Independent accounting firms valued the fund at $16 billion last year, about 7 percent of the country's GDP. Gold price increases helped boost the value since that assessment, with prices jumping from $1,800 to over $3,160 per ounce. The fund also invested $5 million in Invictus Energy, which explores for oil and gas in Muzarabani. These investments should help push the fund to 20 percent of GDP by 2030.
Fund CEO John Mangudya said they started building this growth foundation early in 2025. Mining assets serve as the main driver for increasing value, with exploration programs underway at several sites...