Mutapa Investment Fund reports 503% surplus increase to US$21.67 million in FY25

The Mutapa Investment Fund Mutapa announced a 503% surge in its surplus after tax, reaching US$21.67 million in the last year, up from US$3.58 million in the 15 months ending December 31, 2024. This significant growth is attributed to enhanced income streams and improved portfolio performance from its investee companies. Total income for the period increased by over 406% to US$60.34 million, driven by a nearly 304% rise in dividend income to US$23.32 million and US$26.56 million in management fees, which were zero in the previous period. Mutapa chief executive officer John Mangudya stated that the financial performance reflects the strength of the balance sheet and the effectiveness of restructuring efforts across the investment portfolio. He emphasized the importance of strong governance, including clarifying roles, strengthening risk management, and reinforcing ethical conduct. The Fund's total comprehensive income grew substantially to US$1.4 billion, largely due to fair value gains on its asset base, particularly in the mining portfolio from increased commodity prices and the value of land and buildings. Total assets closed the year at US$16.5 billion, up from US$14.9 billion in 2024, supported by core investments in subsidiaries, an expanded loan book, and a growing marketable securities portfolio. Funds and reserves increased to US$15.2 billion, with a low gearing ratio of 8%. Mutapa plans to intensify efforts in 2026 to raise long-term funding for mining expansion, ene