By Alois Vinga
THE African Sovereign Investors Forum (ASIF) has officially endorsed the Mutapa Investment Fund (MIF) as its newest member.
This recognition marks a significant milestone for the Zimbabwean sovereign wealth fund, formerly known as the Sovereign Wealth Fund of Zimbabwe, which was rebranded following the re-election of President Emmerson Dambudzo Mnangagwa in 2023.
MIF, led by chief executive officer John Mangudya, is a state-owned investment fund established under Zimbabwe’s Sovereign Wealth Fund Act (Chapter 22:20). It is primarily funded through a mix of fiscal surpluses, resource earnings, privatisation proceeds, and official foreign currency operations. The fund was renamed via Statutory Instrument 156 of 2023 in line with the country’s broader economic objectives.
The recent endorsement by ASIF signals a step forward in enhancing MIF’s ability to engage with strategic partners across the continent. The announcement came during ASIF’s 2025 meeting, where the organisation welcomed new members, including Ghana’s Petroleum Fund. The new additions bring ASIF’s total membership to 17 sovereign wealth funds from across Africa.
A key highlight from the meeting was the creation of three working groups focused on agricultural development, climate finance, and data infrastructure. These groups are expected to collaborate on impactful projects that align with ASIF’s broader mission of supporting Africa’s sustainable development and wealth transfer to future generations.
The ASIF Council will reconvene later in 2025 to review progress and discuss future investment strategies.
Launched in June 2022, ASIF started with 10 founding members and has since grown to include 15 sovereign wealth funds. Its aim is to foster cross-border collaboration between African nations to pool resources and expertise, driving larger and more impactful investments for the continent’s growth.
This development highlights a growing trend of African sovereign wealth funds working together to accelerate the continent’s economic progress, with MIF now joining an influential network of investors.
