13.11.2014 - Zimbabwe: Sovereign Wealth Fund Act Takes Effect
Legislation to establish the Sovereign Wealth Fund is now in place following the gazetting of the Sovereign Wealth Fund Act on Monday, a landmark development which seeks to establish a facility whose objective is to reserve income from the country's finite mineral resources for the benefit of future generations. The fund will be driven primarily by 25 percent of all royalties on mineral exports, which will be deposited, along with special dividends on the sales of diamonds, gas, granite and other minerals through the Zimbabwe Mining Development Corporation. The Reserve Bank of Zimbabwe will be the primary custodian of the fund...............................................Full Article: Source
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