Top officials from the Mutapa Investment Fund (MIF) on Wednesday committed to a zero-tolerance stance on corruption by signing integrity pledges under the Zimbabwe Anti-Corruption Commission (ZACC) initiative.
Corruption remains a major challenge across Zimbabwe's public sector, affecting institutions such as law enforcement, the judiciary, and local government. It often manifests through petty bribery, patronage, and large-scale looting by political elites. Zimbabwe is estimated to lose about US$2 billion annually to corrupt activities.
Established in 2014 and operationalised in 2023, the MIF is a state-owned investment fund built from balance of payment surpluses, foreign currency operations, privatisation proceeds, government transfers, fiscal surpluses, and resource earnings.
With a portfolio of over 32 companies valued at approximately US$16 billion, the Fund recognises the high risk of corruption within its operations, prompting senior management to sign the anti-corruption pledge.
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Speaking at the signing ceremony, MIF CEO Dr John Mangudya said the move demonstrates the Fund's commitment to transparency and the integration of anti-corruption controls within its governance framework.
"We take great pride that following the Fund's pledge, our Board Chairperson, Board Members, myself as Chief Executive Officer, and all Senior Management here present will each sign individual integrity pledges, personally affirming our dedication to honesty, accountability, and good corporate citizenship," said Mangudya.
"In doing so, we are saying, as the Mutapa Investment Fund, that integrity begins with each one of us."
The former Reserve Bank of Zimbabwe (RBZ) governor added that ethical leadership cannot be delegated but must be demonstrated through example, allowing the culture of integrity to cascade down to the Fund's investee companies.
Also speaking at the event, ZACC chairperson Michael Reza urged MIF officials to move beyond symbolism and live up to the commitments they made.
"Corporate leaders must not only be seen pledging integrity; they must act with integrity to ensure the seamless attainment of our national vision of an upper-middle-income society by 2030," said Reza.
"Integrity in governance and investment is the linchpin that will propel us toward this vision."
Reza further described the pledge as a constitutional covenant, emphasising that public resources must be managed with transparency and accountability. He reminded MIF officials that, as custodians of national investments, the destiny of Zimbabwe's people lies in their hands.
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