{"id":116508,"date":"2026-04-18T19:00:00","date_gmt":"2026-04-18T17:00:00","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mutapa-reports-503-surplus-after-tax-rise-to-us21-67m"},"modified":"2026-04-18T21:58:03","modified_gmt":"2026-04-18T19:58:03","slug":"mutapa-reports-503-surplus-after-tax-rise-to-us21-67m","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mutapa-reports-503-surplus-after-tax-rise-to-us21-67m","title":{"rendered":"Mutapa Reports 503% Surplus After Tax Rise to US$21.67M"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>THE Mutapa Investment Fund (Mutapa) surplus after tax surged by 503% to US$21,67 million last year, driven by improved income streams and portfolio performance from its investee companies.<\/p>\n

Mutapa had recorded a surplus after tax of US$3,58 million in the 15 months ended December 31, 2024.<\/p>\n

The massive increase is attributed to the country\u2019s sovereign wealth fund improving its governance structures at its investee companies allowing those state entities to improve their income levels.<\/p>\n

Consequently, total income soared just over 406% to US$60,34 million during the review period.<\/p>\n

Leading this growth were increases in dividend income of nearly 304% to US$23,32 million and Mutapa recording management fees of US$26,56 million compared to zero in the prior period.<\/p>\n

\u201cThe Fund\u2019s financial performance for the year demonstrates not only the strength of our balance sheet but also the effectiveness of the restructuring efforts being undertaken across our investment portfolio,\u201d Mutapa chief executive officer John Mangudya said in a statement attached to the Fund\u2019s annual report ended December 31, 2025.<\/p>\n

\u201cAt the entity level, the Fund achieved a surplus after tax of US$21,7 million for the year ended 31 December 2025, from the position of US$3,6 million in 2024.<\/p>\n

\u201cThis solid performance was underpinned by dividend income of US$23,3 million and management and advisory fees totalling US$26,6 million from investee companies to the Fund.\u201d<\/p>\n

He said strong governance remained paramount to the Fund\u2019s long\u2010term success.<\/p>\n

\u201cParticular emphasis was placed on: Clarifying roles and responsibilities between shareholder, board, and management; Strengthening risk identification,assessment, and mitigation processes; and Reinforcing ethical conduct, compliance, and accountability,\u201d Mangudya said.<\/p>\n

\u201cThese efforts are essential not only for protecting asset value, but also for positioning the Fund and its investee companies to attract long\u2010term capital and strategic partnerships in line with NDS2 [National Development Strategy 2].\u201d<\/p>\n

He said the Fund\u2019s total comprehensive income grew substantially to US$1,4 billion, largely driven by significant fair value gains on Mutapa\u2019s asset base.<\/p>\n

\u201cWe have seen significant value growth in our mining portfolio as a result of the increased commodity prices. Another driver for the valuation gains was the value of land and buildings,\u201d Mangudya said.<\/p>\n

\u201cThe valuation of assets is central to our mandate as a custodian of national wealth, and this outcome reflects the maturation of the comprehensive valuation framework established by the Fund following its establishment in September 2023.\u201d<\/p>\n

Consequently, total assets closed the year at a value of US$16,5 billion from the US$14,9 billion position in 2024.<\/p>\n

Mangudya said this was strengthened by Mutapa\u2019s core investment in subsidiaries amounting to US$16,2 billion and supported by an expanded loan book and growing marketable securities portfolio.<\/p>\n

\u201cFunds and reserves increased to US$15,2 billion, demonstrating a strong capital position that provides a solid foundation for future investment activity,\u201d he said.<\/p>\n

\u201cThe Fund\u2019s gearing ratio at 8% remained low as we continue to adopt prudent borrowing strategies to finance key national infrastructure and operational requirements.\u201d<\/p>\n

This has positioned the Fund to continue with its growth strategy.<\/p>\n

\u201cIn 2026, we expect to intensify our efforts to raise long\u2010term funding for mining expansion, energy rehabilitation, logistics rehabilitation, and industrial sector revival that are in sync with the National Development Strategy 2 and Vision 2030,\u201d Mangudya said.<\/p>\n

\u201cEqually, we will place greater emphasis on operational discipline, environmental sustainability, and risk management across the Fund\u2019s portfolio companies.\u201d<\/p>\n

Mutapa board chair Chipo Mtasa said that looking ahead, the Fund will maintain its transformation momentum while positioning itself to attract global capital.<\/p>\n

\u201cKey priorities for 2026 include: Scaling up investments in mine expansion; Supporting critical upgrades in the energy sector; Modernising national logistics and infrastructure; Revitalising industrial production to enhance resilience and competitiveness,\u201d she said.<\/p>\n

For More News And Analysis About Zimbabwe<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. THE Mutapa Investment Fund (Mutapa) surplus after tax surged by 503% to US$21,67 million last year, driven by improved income streams and portfolio performance from its investee companies. Mutapa had recorded a surplus after tax of US$3,58 million in the 15 months ended December 31, 2024. The massive increase is attributed to […]<\/p>\n","protected":false},"author":84,"featured_media":116507,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[19],"class_list":["post-116508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-zimbabwe"],"yoast_head":"\nMutapa Reports 503% Surplus After Tax Rise to US$21.67M - zimbabwe<\/title>\n<meta name=\"description\" content=\"THE Mutapa Investment Fund (Mutapa) surplus after tax surged by 503% to US$21,67 million last year, driven by improved i ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mutapa-reports-503-surplus-after-tax-rise-to-us21-67m\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mutapa Reports 503% Surplus After Tax Rise to US$21.67M\" \/>\n<meta property=\"og:description\" content=\"THE Mutapa Investment Fund (Mutapa) surplus after tax surged by 503% to US$21,67 million last year, driven by improved i ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mutapa-reports-503-surplus-after-tax-rise-to-us21-67m\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2026-04-18T17:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-18T19:58:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2026\/04\/sm_1776542210.341071.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mutapa-reports-503-surplus-after-tax-rise-to-us21-67m#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mutapa-reports-503-surplus-after-tax-rise-to-us21-67m\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mutapa Reports 503% Surplus After Tax Rise to US$21.67M\",\"datePublished\":\"2026-04-18T17:00:00+00:00\",\"dateModified\":\"2026-04-18T19:58:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mutapa-reports-503-surplus-after-tax-rise-to-us21-67m\"},\"wordCount\":620,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mutapa-reports-503-surplus-after-tax-rise-to-us21-67m#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2026\/04\/sm_1776542210.341071.jpg\",\"keywords\":[\"Zimbabwe\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mutapa-reports-503-surplus-after-tax-rise-to-us21-67m#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mutapa-reports-503-surplus-after-tax-rise-to-us21-67m\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mutapa-reports-503-surplus-after-tax-rise-to-us21-67m\",\"name\":\"Mutapa Reports 503% Surplus After Tax Rise to US$21.67M - 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