1.    The Sovereign Wealth Fund Act [Chapter 22:20) ("the Act"), which established the Sovereign Wealth Fund of Zimbabwe was promulgated in 2015.

2.    Since then, the operationalization of the Fund progressed slowly as the Government was exploring various efficient ways of capitalising the fund.

3.    Following consultations with various stakeholders, His Excellency has now taken a substantive and deliberate decision to operationalise the Fund as well as to capitalise it appropriately.

4.    As part of the implementation of that decision, His Excellency, through SI 56 of 2023, made certain important amendments to the Sovereign Wealth Fund of Zimbabwe Act which included the transfer of the Government of Zimbabwe's various shareholdings in twenty-two entities to the Fund. The Fund was also renamed Mutapa Investment Fund through the publication of Mutapa Investment Fund: Presidential Powers (Temporary Measures) (Investment Laws Amendment) Regulations, 2023

5.    The Mutapa Investment Fund is owned by the Republic of Zimbabwe as set out in section subsection 2 of section 3 of the Act.