Published: 16 April 2026

Zimbabwe's Mutapa Investment Fund (MIF) reported a sharp rise in profitability, posting a surplus of US$21.7 million for the year ended December 2025, up from US$3.6 million in the prior year.

Chief executive John Mangudya said the improved performance reflects ongoing progress in restructuring state-owned assets under the fund's portfolio.

"At the entity level, the Fund achieved a surplus after tax of USD21.7 million for the year ended 31 December 2025, from the position of USD3.6 million in 2024," Mangudya said.

He attributed the growth to stronger income streams from portfolio companies.

"This solid performance was underpinned by dividend income of USD23.3 million and management and advisory fees totaling USD26.6 million from investee companies to the Fund," he added.

The fund's total income increased to US$60.3 million during the period, while total comprehensive income surged to US$1.4 billion, largely driven by fair value gains on its investment portfolio.

The results signal improving revenue generation capacity at MIF, even as the fund continues to navigate structural and governance challenges within some of its underlying state-linked entities.
- online

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