馃嚳馃嚰ZimbabweSouthern Africa
Mutapa Investment Fund reports 503% surplus increase to US$21.67 million in FY25
via NewsDay Zimbabwe6 min read
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
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Econet Wireless Zimbabwe, the country's largest mobile network operator, is investing more than US$200 million to expand its network capacity, improve service quality, and strengthen infrastructure resilience. This investment addresses the surging demand for mobile data driven by increased smartphone adoption, video streaming, and digital services. Econet Group chief executive officer Douglas Mboweni stated that the company's immediate priorities include expanding network capacity and making infrastructure more resilient to ensure reliable connectivity. The company operates over 7,000 base stations supporting 2G, 3G, 4G, and 5G technologies and is progressively reallocating spectrum to 4G and 5G services. However, the transition is slowed by older mobile devices, particularly in rural areas, preventing millions of subscribers from accessing modern digital services. Mboweni noted that over three million subscribers use handsets too old for high-bandwidth applications and that Econet is working on initiatives to make new smartphones more affordable. Power supply challenges also contribute to network disruptions, prompting Econet to invest in alternative energy, including a solar power station at its Tech City campus and an artificial intelligence-powered energy management system. The company expects this system to reduce power-related faults by up to 50% by the end of the year, with customers experiencing a more resilient network with fewer outages by December.
Zimbabwean athletes Makanakaishe Charamba, Thandazani Ndlovu, and Ashley Miller achieved impressive results at the Gyulai Istv谩n Memorial鈥揌ungarian Athletics Grand Prix in Budapest. Charamba secured second place in the men鈥檚 200 metres with a time of 20.09 seconds, finishing behind Morocco鈥檚 Yassine Hssine. Ndlovu recorded a personal best of 44.64 seconds, placing fourth in the men鈥檚 400 metres against a competitive international field. Miller finished fifth in the women鈥檚 400 metres hurdles with a time of 55.03 seconds. The National Athletics Association of Zimbabwe NAAZ president, Tendayi Tagara, stated that these performances will boost the team's confidence for the rest of the season, highlighting the progress made through investment in athlete development and high-performance programs. NAAZ emphasized that the results demonstrate Zimbabwean athletes' capability to compete effectively on the international stage.
Must ReadThe 15th Africa Border Day was held at Lake Kariba, where leaders highlighted the role of borders as facilitators for development. This event took place amidst various other news items, including reports on Zimbabweans' journeys home, a teenage sex trade in Mutare, and police sealing off NCA offices. Other headlines covered rising confidence in ZMX trades, a potential bridge through Scottland FC's SA trip, and challenges in Zimbabwe's hospitality sector facing a US$30 million funding gap ahead of IATF 2029. Additionally, there were reports on political tensions leading to violence, power outages affecting ART operations, and Zimbabwe commissioning a specialized honey testing laboratory to enhance export competitiveness.