The Mutapa Investment Fund (MIF) has announced a comprehensive strategic overhaul of its asset portfolio, headlined by a major reorganization of the Industrial Development Corporation of Zimbabwe (IDCZ) and the consolidation of its telecommunications interests.

MIF Chief Executive Officer Dr. John Mangudya outlined the new direction during a presentation at the Zimbabwe National Defence University in Harare.

According to Dr. Mangudya, the restructuring of the IDCZ is designed to enforce stricter corporate governance, boost capitalization, and instill financial discipline.

The revamped IDCZ is expected to pivot toward providing advisory services to financial institutions both within and outside the sovereign wealth fund’s portfolio.

“Under the proposed structure, IDCZ would provide advisory services… and would also serve as an advisor to the Fund in originating and pursuing investment and financing mandates,” Dr. Mangudya stated.

This move is part of a broader effort to restore transparency and restructure distressed organizations under the MIF umbrella.

To optimize operational efficiency and reduce costs, the MIF is also moving to merge its various telecommunications companies into a single, unified entity.

Additionally, the fund is reorganizing its insurance assets into a hub-and-spoke business model, a structure often used to centralize core functions while maintaining localized service delivery.

Dr. Mangudya highlighted that these operational shifts are already yielding financial results, with the MIF reporting significant progress in rehabilitating national assets previously hampered by governance gaps and undercapitalization.

He revealed that cumulative dividends paid to the Fund now stand at US$93 million, while the gross amount disbursed to portfolio companies sits at US$152 million. Tax contributions to the Government have also improved, attributed to increased revenue generation by MIF entities.

The CEO noted that these targeted investments are stimulating job creation, expanding domestic production, and strengthening value chains to reduce import reliance and boost exports.

Looking ahead, Dr. Mangudya confirmed that the MIF is on track to establish the National Stabilisation Fund. This new vehicle is intended to act as a buffer for macroeconomic stability, support fiscal sustainability, and preserve national wealth for future generations.