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Mutapa Investment Fund Gets US$2.2 Million Dividend From NOIC

8 months agoThu, 11 Jul 2024 12:19:23 GMT
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Mutapa Investment Fund Gets US$2.2 Million Dividend From NOIC

The Mutapa Investment Fund has received a 2023 dividend of ZiG31 million (US$2.2 million) from the National Oil Infrastructure Company of Zimbabwe (NOIC), one of over 20 state-owned companies that the sovereign wealth fund now runs.

NOIC is responsible for pipeline transportation of petroleum products and storage in strategic depots across the country and also offers blending services on behalf of clients at its depots.

According to newZWire, the dividend adds to the US$1 million dividend that NOIC declared for 2022. Simba Chinyemba, chief investment officer at Mutapa, said:

The dividend is a commendable thing. There are also various projects that NOIC is doing, chief of which is increasing the capacity of the oil pipeline capacity.

According to NOIC CEO Wilfred Matukeni, the project will see the pipeline from Feruka adding capacity from 2 billion litres per year to 3 billion litres by September. A second phase which will increase capacity to 5 billion litres.

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NOIC makes its money by charging importers for using the pipeline and its storage facilities.

In November 2023, President Emmerson Mnangagwa commissioned a six million litre ethanol storage and handling facility at NOIC in Mabvuku, Harare.

Mnangagwa said that the two ethanol storage and handling facilities were installed with a capacity of three million litres each.

NOIC is also building 2 000-metric-tonne LPG storage facilities.

More: Pindula News

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20 Comments

Mahur'e, ajaira kuba · 8 months ago
****ish
👽🦁 · 8 months ago
For Wikinero and Co to loot
Mukoma Oncemore · 8 months ago
I hope the USD2,2m will be distributed to us citizens.....tiri mashareholders ka isu. Mutapa is our investment vehicle
Anonymous · 8 months ago
Good joke.
off duty officer · 8 months ago
it's just **** **** **** everywhere and we can't do nothing
Temba · 8 months ago
vanodya kupinda musheep scheme Uyayi munyorese mukanonoka vana chimombe munowana vaipedza musazoti vanodya kudya voga mwana wehuku anodya ndouripo
...,. · 8 months ago
is it correct for the national oil infrastructure company of Zimbabwe to be giving dividends to the mtapa fund and not to treasury? why not rename it to mtapa oil infrastructure company of Zimbabwe (moic)? at one time it was said the operations of the mtapa fund were going to be secret, was it changed or not adopted?
iii · 8 months ago
mtapa fund ispublic fund no secret on it paida kimamiswa cash chibaba
Anonymous · 8 months ago
Mutapa was set up as a way to siphon funds under the pretext of having a sovereign fund, Which they clearly know will not benefit the citizens,rotten to the core
vbc · 8 months ago
vakomana tapuwa imwe Mari toda kuita 🐑 sheep scheme tinoda vanodya vanyerere kwete kuzogauta tokunyudza
Mwene · 8 months ago
Toda kuita Command Hyena. Tinoda mapere okunorwisa maZambians vari kuwirirana nemuvengi.
iii · 8 months ago
maZambian dzikamai Tanga tichishaikwa mukanwa wekutora dzimba dzedu dzamakavakira munyika medu to hell with you ose achimwene back to your mother land kana muchida nezvemuno udzai vamwe venyu vati hlooooo
Account Holder · 8 months ago
"Pandichanozorora kana term yangu yechipiri yapera,tichaita congress posarudzwa mumwe achatevera tsoka dzangu ini MunhuMutapa" vakadaro mukuru..............Mutapa uyu anombori aniko,anoita nezvei?
dhugu · 8 months ago
Mnangagwa
Anonymous · 8 months ago
Atotanga kuba pasina nguva refu yekuronga.........
Mba · 8 months ago
Thieves team Kuba ibai semagariro
dhugu · 8 months ago
idyai dzese mari dzenyika imi makangwara madzetse achiitisana nharo dzaana kirk Franklin pasocial media
jobho wekuSt Mary's · 8 months ago
there is no crisis in Zimbabwe.
. · 8 months ago
Do you sincerely believe that by repeating that statement Goebbels style the crisis will go away?

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