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Sovereign Wealth Funds Briefing - Categorized | Financials, Reserve Currencies

Zimbabwe wealth fund to get share of state mining revenue

Posted on 25 November 2013

Zimbabwe’s planned sovereign wealth fund may get as much as a quarter of mining royalties and the same share of “special dividends” on state mineral and metal sales. Parliament will also be able to appropriate money to benefit the fund.
A 16-member board will decide on the fund’s activities, allowing it to make withdrawals, primarily to pay for infrastructure developments, according to a draft of the Sovereign Wealth Fund of Zimbabwe Act obtained by Bloomberg News………………………………………..Full Article: Source


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