THE Mutapa Investment Fund (MIF) has ordered strict financial reporting standards across entities falling under its portfolio as part of efforts aimed at reviving professional operational conduct.
Presenting the performance report for 2025, MIF Chief Executive Officer, John Mangudya said strong governance remains paramount to the institution’s long‑term success through sustained efforts to strengthen governance frameworks at both the MIF and portfolio‑company levels.
“A structured programme to regularise the annual financial audits across our portfolio has since been directed. As at 31 March 2026, 25 of the Fund’s 31 entities had completed their 2024 audited financial statements, with six entities lagging behind. This progress reflects firm commitments secured from both Board Chairs and Chief Executive Officers to uphold global best practice, including timely audit completion,” he said.
Mangudya, however, bemoaned that such efforts are taking place against a backdrop of technical insolvency in certain entities, driven by legacy debt burdens, structurally inefficient operating models, and historical weaknesses in financial management and governance capability.
“Our objective remains clear: to achieve full IFRS compliant reporting and a solvent, resilient consolidated balance sheet by 2030, positioning the Fund as a credible, long‑term investment partner for international and domestic capital.” he said.
During the reporting period, MIF total assets closed the year at a value of US$16,5 billion from the US$14,9 billion position in 2024, strengthened by the core investment in subsidiaries amounting to US$16,2 billion and supported by an expanded loan book and growing marketable securities portfolio.
Funds and reserves increased to US$15,2 billion, demonstrating a strong capital position that provides a solid foundation for future investment activity.
The Fund’s gearing ratio at 8% remained low as we continue to adopt prudent borrowing strategies to finance key national infrastructure and operational requirements.
