Zimbabwe's Mutapa Investment Fund might double to over $30 billion by 2030, becoming one of Africa's largest sovereign wealth funds. State companies once meant mismanagement, but MIF changed that path. Independent firms valued it at $16 billion last year. Growing gold prices helped expand the fund.
MIF might contribute 20 percent of Zimbabwe's GDP by the end of the decade. The fund would surpass better-known African funds from Botswana, Angola, and Namibia. Only Ethiopia, South Africa, and Libya would have bigger assets. Mining drives much of this momentum.
When MIF started, gold traded around $1,800 per ounce. Today, it exceeds $3,160, dramatically increasing gold asset values. The fund also supports energy exploration through Invictus Energy. A $5 million injection helped test the Mukuyu-2 well.
CEO John Mangudya says they invest in lithium and chrome exploration. MIF holds stakes in transport, telecommunications, energy, financial services, and agriculture. This diversity protects against single-sector problems. President Mnangagwa wants MIF to benefit all citizens.
MIF might contribute 20 percent of Zimbabwe's GDP by the end of the decade. The fund would surpass better-known African funds from Botswana, Angola, and Namibia. Only Ethiopia, South Africa, and Libya would have bigger assets. Mining drives much of this momentum.
When MIF started, gold traded around $1,800 per ounce. Today, it exceeds $3,160, dramatically increasing gold asset values. The fund also supports energy exploration through Invictus Energy. A $5 million injection helped test the Mukuyu-2 well.
CEO John Mangudya says they invest in lithium and chrome exploration. MIF holds stakes in transport, telecommunications, energy, financial services, and agriculture. This diversity protects against single-sector problems. President Mnangagwa wants MIF to benefit all citizens.
