Bedroom affair: Mutapa Investment Fund moves offices to Tsvangirai upmarket lodge

Story by founding editor Nigel Tawanda Pfunde

Harare- IN a bizzare development, Mutapa Investment Fund (formerly Sovereign Wealth Fund) has moved its offices to the late former Prime Minister’s mansion in Highlands,Express Mail Zim can report.

The mansion had been turned into an upmarket lodge by Tsvangirai’s widow- the vivacious Elizabeth Macheka former wife to versatile busineseman Kenny Ngirazi who has intrest in real estate.

The mansion was bought for a whooping US$3,5 million by government at a time Tsvangirai served as Prime Minister during tge government of national unity.

The property is located at Number 49 Kew Drive and that was Tsvangirai’s last residence after moving from Number 4 Danum Road in Ashdown Park and later to Strataven before the ‘golden handshake’ of the Highland house which is strategically located close to Pockets Hill.

Mutapa Investment Fund, formerly known as the Sovereign Wealth Fund of Zimbabwe was formulated by the Sovereign Wealth Fund Act (Chapter 22:20).[2] It was renamed after the re-election of President Emmerson Mnangagwa as the president of Zimbabwe, doing so by using Statutory Instrument 156 of 2023..

It is a state-owned investment fund established from the balance of payment surpluses, official foreign currency operations, the proceeds of privatisation, government transfer payments, fiscal surpluses and resource earnings.

It manages 20 parastatal entities.and is supritended by former RBZ governor John Panonetsa Mangudya whose middle name can be loosely translated to troublesome.

The decision to move the offices to the upmarket lodge has raised eyebrows and led to speculation about the motives behind the move.

Political analysts have questioned the appropriateness of using the lateTsvangirai’s mansion for business purposes, while others have raised concerns about the transparency and accountability of the Fund which has ‘swallowed’ strategic entities like Kuvimba Mining Company.