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2025 Intake Invitation

The Minister of Finance, Economic Development, and Investment Promotion, Professor <a href="https://www.pindula.co.zw/Mthuli_Ncube/">Mthuli Ncube</a>, has announced the appointment of the <a href="https://www.pindula.co.zw/Mutapa_Investment_Fund/">Mutapa Investment Fund</a> board. The Mutapa Investment Fund was previously known as the Sovereign Wealth Fund of Zimbabwe. According to a statement seen by Pindula News, the appointments were approved by President Emmerson Mnangagwa. Read the statement:
<blockquote>
1. The Sovereign Wealth Fund Act [Chapter 22:201 (“the Act”), which established the Sovereign Wealth Fund of Zimbabwe was promulgated in 2015.
2. Since then, the operationalization of the Fund progressed slowly as the Government was exploring various efficient ways of capitalising the fund.
3. Following consultations with various stakeholders, His Excellency has now taken a substantive and deliberate decision to operationalise the Fund as well as to capitalise it appropriately.
4. As part of the implementation of that decision, His Excellency, through SI 56 of 2023, made certain important amendments to the Sovereign Wealth Fund of Zimbabwe Act which included the transfer of the Government of Zimbabwe’s various shareholdings in twenty-two entities to the Fund. The Fund was also renamed Mutapa Investment Fund through the publication of Mutapa Investment Fund: Presidential Powers (Temporary Measures) (Investment Laws Amendment) Regulations, 2023.
5. The Mutapa Investment Fund is owned by the Republic of Zimbabwe as set out in section subsection 2 of section 3 of the Act.
6. Traditionally, SoEs and local authorities used to contribute 40% to the country’s GDP. Over the years, not only did the positive contribution by SOEs cease, but they have generally become a drain on the fiscus, for many well-documented reasons.
7. His Excellency, the President has observed that the performance of SOEs can be enhanced by proper performance management, reformulation of their corporate strategies in line with the National Vision 2030 and NDS1, institution of effective governance frameworks, a strengthening of the institutions, effective capital raising and disciplined capital allocation. 
8. Being a sovereign wealth fund, the Fund’s objects are to make secure investments for the benefit and enjoyment of future generations of Zimbabweans, to support the development objectives of the Government, including its long-term economic and social development; to support fiscal or macroeconomic stabilisation, and to contribute to the revenues of Zimbabwe from the net retums on its investments
9. Government is determined not only that it earns a return on its investments starting with its investments in the companies listed in Statutory Instrument 156 of 2023, but also to foster sustainable employment creation, and ultimately that the companies operate profitably and contribute to the fiscus. This will be achieved in part through the implementation of a robust monitoring and evaluation institutional framework by the Fund as part of the performance management system in respect of companies in which it is invested.
10. To this end, I am pleased to announce that, as a further step towards the reforms and the operationalisation of the Fund, His Excellency, the President of the Republic of Zimbabwe, Cde. Dr. E. D. Mnangagwa, has approved the appointment of the following professionals to serve as Board members of the Mutapa Investment Fund:
 i. <a href="https://www.pindula.co.zw/Chipo_Mtasa/">Chipo Mtasa</a> (Chairperson) 
ii. Lesley Ndlovu (Vice Chairperson) 
iii. Thembelihle Khumalo
 iv. Farai Mtamangira 
v. Bart Mswaka 
vi.  Charity Jinya 
vii. Prassad Bhamre.
11. Government is determined to establish a world-class sovereign wealth fund and it is envisaged that the board will make a strong contribution towards this objective.
12. May I take the opportunity to wish the new board members success in their new role and to register Government’s commitment to support the board in its work.
Thank you.
</blockquote>
<h3><a href="https://www.pindula.co.zw/">More Pindula News</a></h3>

Pindula News

Finance Minister, Mthuli Ncube, Announces Appointment Of Mutapa Investment Fund Board

The Minister of Transport and Infrastructural Development, Felix Mhona, has appointed former TelOne Managing Director, Chipo Mtasa, as the Chairperson of the Air Zimbabwe board.
In a statement, Mhona said Mtasa’s appointment is with effect from 06 February 2023 and that she will be deputised by Edmund Murambiwa Makona, who is said to be an aviation expert who has worked in the aviation industry for more than two decades. Said Mhona:
<blockquote>
Dr. Mtasa is a top-level Executive with more than two decades of experience in devising and executing strategies and leading team efforts that have produced significant business turnaround in telecommunications, pharmaceuticals, tourism, hospitality management and many other sectors.
She is an accomplished Chartered Accountant who holds a Bachelor of Accountancy (Honours) degree from the University of Zimbabwe and several other postgraduate qualifications and certifications.
I wish Dr. Mtasa and her Board, great success as they lead Air Zimbabwe’s recovery process, through the implementation of the Air Zimbabwe 6-year Strategic Turnaround Plan, with the view to developing a dependable airline, with a robust hub and spoke network; with Harare and Victoria Falls as the main and tourist hubs respectively.
</blockquote>

Chipo Mtasa Appointed Chairperson Of The Air Zimbabwe Board

<a href="https://www.pindula.co.zw/Chipo_Mtasa">Chipo Mtasa</a> says she is stepping down “with my head high” as Managing Director of <a href="https://www.pindula.co.zw/TelOne">TelOne</a> after a decade in the post.
Mtasa was appointed MD of the state-owned telecoms company in 2013, and leaves at the end of this month after serving her two terms, as required by regulations governing Zimbabwean parastatals, <a href="https://newzwire.live/telones-chipo-mtasa-i-take-a-bow-with-my-head-high/">newZWire</a> reported citing her note to staff. It read:
<blockquote>
As I look back at the last 10 years and the progress that we have made, the challenges that we have conquered, the lessons that we have learnt, the dreams that we have shared and above all the friendships that we have created; a big part of me feels sad to be saying goodbye.
I take a bow with my head high because of how you all worked so hard to build the TelOne brand and all the achievements we scored. Being associated with this amazing brand will remain a highlight of my career which I will so proudly acclaim. 
Together we started the journey to transform TelOne and so it is my wish for those that will come after me and indeed the rest of the TelOne team to keep moving forward and do even better.
</blockquote>
Under Mtasa, TelOne shifted its strategy from the fixed-line business on which it was founded to becoming a more broadband-focused company. 
In 2018, broadband, for the first time, started contributing more to earnings than voice after accounting for 49.8% of revenue, compared to 38% in 2017.
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

Chipo Mtasa Steps Down As TelOne Managing Director

TelOne has announced that it has been given the green light by the Postal and Regulatory Authority of Zimbabwe to increase its tariffs by nearly 200 percent.
In a statement on Wednesday, TelOne said that the increase is attributed to the country’s economic situation. The statement reads in part:
<blockquote>Please be advised that as per approvals granted by the Potraz, Telone rates will be increased by 199,35 percent effective 6 November 2019.
This increase has been necessitated by our continued desire to provide world-class connectivity and digital solutions to you our valued customers.</blockquote>
The development comes when mobile network operators, Econet Wireless and NetOne have also increased the prices of their services.
Power cuts, fuel shortages and the scarcity of foreign currency are some of the factors that are said to have increased the cost of production resulting in companies raising their prices in a bid to remain afloat.
More: <a href="https://www.chronicle.co.zw/telone-increases-tariffs-by-200-percent/">The Chronicle</a>

"TelOne Rates Increased By 199,35% Effective 6 November 2019,”

TelOne has launched its own mobile sim card which provides very cheap data and voice minutes to any network.
For one to get the sim cards, TelOne demands:
<ol>
<li>Proof of residence</li>
<li>Copy of ID</li>
<li>RTGS 10 for the SIM card only</li>
</ol>
LTE (Long Term Evolution) is a standard for 4G wireless broadband technology that offers increased network capacity and speed to mobile device users. It is available in Chitungwiza, Ruwa, Avondale, Borrowdale, Kuwadzana, Town, Southerton, Glenview.
The modems are: Indoor Modem B315 $472 and MiFi E5573Cs-322 $333, the SIM Card is $10.
 
<ul>
<li>Blaze lite 8Gb $54                Voice(minutes) – 15</li>
<li>Blaze Extra 15Gb $82            Voice(minutes) – 25</li>
<li>Blaze boost 20Gb $102         Voice(minutes) – 30</li>
<li>Blaze Ultra 40Gb $165           Voice(minutes) – 50</li>
<li>Blaze trailblazer 100Gb $248     Voice(minutes) – 80</li>
<li>Blaze supernova unlimited $489    Voice(minutes) – 100</li>
</ul>
More: <a href="https://www.techzim.co.zw/2019/10/everything-to-know-about-telones-blaze-lte/">Techzim</a>

TelOne Launches Mobile Sim Card Which Provides Cheap Data And Voice To Any Network

State-owned fixed telecommunications provider TelOne is owed $101 million by the government and parastatals.
The company’s managing director, Chipo Mtasa said that if the government pays its debts, it will be able to meet its immediate capital expenditure needs. Said Mtasa:
<blockquote>The issue that will really help us is the Government paying its debts to TelOne. It is an issue that continuously plays havoc with our cash-flows. Right now the total that we are being owed by Government and parastatals is RTGS$101 million.
If we got all that money in, that is actually a good RTGS fund from which we can actually use for some of our immediate capital expenditure needs. We have an outstanding $5 million project, for example, that we really need to commission. And we can also pay other obligations.</blockquote>
Meanwhile, the government will soon complete the assumption of TelOne’s US$383 million legacy loans after Cabinet gave the green light.
<h4>Related:</h4>
<ul>
<li class="entry-title">
<h4><a href="https://news.pindula.co.zw/2019/04/10/government-set-to-inherit-telone-debt/">Government Set To Inherit TelOne Debt</a></h4>
</li>
<li class="entry-title">
<h4><a href="https://news.pindula.co.zw/2019/03/23/government-selling-telone-netone-one/">Government Selling TelOne and NetOne As One Entity</a></h4>
</li>
</ul>
<h4>More: <a href="https://www.herald.co.zw/cabinet-okays-telone-debt-takeover/">The Herald</a></h4>

Govt Owes TelOne $101 Million

The managing director of TelOne, Chipo Mtasa, revealed that negotiations are underway for the government to inherit TelOne’s US$383 million legacy loans.
Speaking to the Parliamentary Portfolio Committee on Information Communication Technology yesterday, Mtasa said:
<blockquote>We have been made aware that Cabinet passed a resolution to waiver our legacy loans, and we are currently in the process of engaging the Ministry of Finance and Economic Development in terms of finalising the transaction,</blockquote>
Mtasa also argued that the loans which were taken to boost the Posts and Telecommunications Corporation (PTC) operations are undermining TelOne’s performance. The adoption of the debt by the state will likely lessen the burden on the telecom firm.
TelOne owes a total of US$314.4 million to financial institutions of Norway, France, Tunisia-based African Development Bank, Japan, and Germany. Most of the loans were secured between 1992 and 1997. Interests have made it difficult for TelOne to service the debt.
Mtasa revealed also that TelOne is owed about RTGS$101 million by the government and parastatals. The managing director believes that TelOne could perform better if the government and parastatals pay the money they owe to the firm.
<h3>Related:</h3>
<ul>
<li class="entry-title"><a href="https://news.pindula.co.zw/2019/03/28/telone-increases-data-bundle-prices-introduces-us-dollar-pricing/" rel="bookmark">TelOne Increases Data Bundle Prices, Introduces US Dollar Pricing</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2019/03/23/government-selling-telone-netone-one/" rel="bookmark">Government Selling TelOne and NetOne As One Entity</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2018/12/20/telone-warns-of-possible-internet-blackout-at-it-chokes-with-22-million-debt/" rel="bookmark">TelOne Warns Of Possible Internet Blackout As It Chokes With $22 Million Debt</a></li>
</ul>
More: <a href="https://www.herald.co.zw/cabinet-okays-telone-debt-takeover/" rel="noopener" target="_blank">The Herald</a>

Government Set To Inherit TelOne Debt

The contract of <a href="http://www.pindula.co.zw/TelOne" target="_blank">Telone</a> managing director, <a href="http://www.pindula.co.zw/Chipo_Mtasa" target="_blank">Chipo Mutasa</a> will be renewed after its expiry at the end of this month. This was revealed by the company chairman  Charles Shamu.  Mutasa has been credited with the turnaround in fortunes of the state-owned telecoms company.
During Mutasa’s tenure, Telone reduced operational costs by $30 million and-and held its first annual general meeting last year.
Speaking to Newsday,   Shamu said:
<blockquote>We are not at liberty to disclose any details on this as contractual issues are confidential between the employer and the employee. You may, however, need to note that as a board we are happy with her performance and come January 2017 Chipo Mtasa will continue as TelOne managing director.</blockquote>
More: <a href="https://www.newsday.co.zw/2016/12/23/telone-renews-mtasas-contract/" target="_blank">Newsday</a>

Chipo Mutasa's contract renewed, credited with Telone revival

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