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*Companies Under Mutapa Investment Fund Not Exempted From Public Procurement Laws - Guvamatanga* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?ra The Government has rejected claims that all Government parastatals under the recently promulgated Mutapa Investment Fund will not be subject to the Public Procurement and Disposal of Public Assets Act (PPDPA). Addressing delegates during the Zimbabwe Economic Development Conference (ZEDCON 2023) in Victoria Falls on Monday, Finance, Economic Development and Investment Promotion permanent secretary George Guvamatanga said the entities have not been exempted from public procurement regulations. He said: ---------- Latest itel S24 available on Pindula: 128GB storage, 4GB RAM $119 USD WhatsApp: +263715068543 Calls: 0772464000 Buy Online: https://www.pindula.co.zw/market/itel-s24-128gb-22-20240426142756795795/?s=wanews ---------- > They (entities) have not been exempted. To be clear, in terms of the law, the exemption applies to the fund and not any other entities listed. > All this noise of all institutions being exempted is not correct. The fund needs to be quick, cost effect and it was important to place it at par with its peers. Guvamatanga said the fund is wholly owned by the Government and it (the Government) is the beneficiary of the fund. President Emmerson Mnangagwa recently invoked his Presidential Powers to rename the Sovereign Wealth Fund to the Mutapa Investment Fund and transfer the shares in the 20 State-owned enterprises to the new fund. The companies whose government shares will now fall under the Mutapa Investment Fund are: Defold Mine ZUPCO Kuvimba Silo Investments (GMB commercial arm) National Oil Company of Zimbabwe Cold Storage Commission Petrotrade POSB Netone Cellular National Railways of Zimbabwe Holdings and NRZ Ltd TelOne Arda Seeds Zimbabwe Power Company Powertel Allied Timbers Telecel Zimbabwe Air Zimbabwe Industrial Development Corporation Cottco AFC Limited Hwange Colliery More: Pindula News _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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