| Government has allocated $1 million to the Sovereign Wealth Fund (SWF), in a bid to kick-start the national resource pool aimed at empowering citizens. In his 2016 budget statement, Finance minister Patrick Chinamasa said the initiative set to support macroeconomic stabilisation, including long-term economic and social development objectives was going to be financed by mining royalties.
In terms of the Sovereign Wealth Fund Act, the fund will be financed through a charge of up to 25 percent on royalty collections on mineral sales, as well as on special dividend on the sale of diamond, gas, granite and other minerals...............................................Full Article: Source
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