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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches, Trends

Planned sovereign wealth fund may well be only Zim entity able to pay for stakes in mines

Posted on 28 March 2014

The introduction of the Sovereign Wealth Fund (SWF) by the Zimbabwe government could not have been more timeous, according to experts, as it will be used for much-needed infrastructure development. This also comes amid investor dissatisfaction in the Zimbabwean mining industry, owing to the country’s Indigenisation and Economic Empowerment Act and mining royalties policies.
In his speech at the Zimbabwe Chamber of Mines’ (CoM’s) seventy-fourth annual general meeting in May last year, CoM president John Chikombero said the operating environment for the mining industry in 2012 was, to a large extent, similar to that of 2011: the country’s mining industry remains a primary contributor to Zimbabwe’s gross domestic product and was expected to provide impetus for economic growth……………………………………Full Article: Source


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