Zimbabwe's Mutapa Investment Fund dropped 100 million dollars into state-owned companies during a nine-month stretch, and Finance Minister Mthuli Ncube says over half of these government enterprises turned profitable. The fund manages more than 20 billion dollars worth of assets across mining operations, farms, power utilities, and banks, with plans to raise a billion dollars for national development programs.
Officials want the fund to help Zimbabwe hit middle-income status by the end of the decade through better governance and private partnerships. The government already fixed working capital problems at these companies through direct cash injections and joint ventures, while joining an African investment forum to boost foreign interest.
Mutapa will keep backing turnaround plans at struggling state firms, and it might list successful ones on the stock exchange to unlock more value for the economy.
Officials want the fund to help Zimbabwe hit middle-income status by the end of the decade through better governance and private partnerships. The government already fixed working capital problems at these companies through direct cash injections and joint ventures, while joining an African investment forum to boost foreign interest.
Mutapa will keep backing turnaround plans at struggling state firms, and it might list successful ones on the stock exchange to unlock more value for the economy.
