THE Government has rejected claims that all Government parastatals under the recently promulgated Mutapa Investment Fund will not be subject to the Public Procurement and Disposal of Public Assets Act (PPDPA).
Addressing delegates during the Zimbabwe Economic Development Conference (ZEDCON 2023) in Victoria Falls on Monday, Finance, Economic Development and Investment Promotion permanent secretary George Guvamatanga said the entities have not been exempted from public procurement regulations. He said:
They (entities) have not been exempted. To be clear, in terms of the law, the exemption applies to the fund and not any other entities listed.
All this noise of all institutions being exempted is not correct. The fund needs to be quick, cost effect and it was important to place it at par with its peers.
Guvamatanga said the fund is wholly owned by the Government and it (the Government) is the beneficiary of the fund.
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President Emmerson Mnangagwa recently invoked his Presidential Powers to rename the Sovereign Wealth Fund to the Mutapa Investment Fund and transfer the shares in the 20 State-owned enterprises to the new fund.
The companies whose government shares will now fall under the Mutapa Investment Fund are:
Defold Mine
ZUPCO
Kuvimba
Silo Investments (GMB commercial arm)
National Oil Company of Zimbabwe
Cold Storage Commission
Petrotrade
POSB
Netone Cellular
National Railways of Zimbabwe Holdings and NRZ Ltd
TelOne
Arda Seeds
Zimbabwe Power Company
Powertel
Allied Timbers
Telecel Zimbabwe
Air Zimbabwe
Industrial Development Corporation
Cottco
AFC Limited
Hwange Colliery
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