The Mutapa Investment Fund (MIF), Zimbabwe’s sovereign wealth fund, has established an environmental, social and governance (ESG) board committee to instil such practices into the State-owned firms under its control.
An ESG is a framework used to assess the sustainability and societal impact of a company or investment, and companies that score highly on ESG metrics may be viewed as better-managed, more resilient, and more attractive investment opportunities.
There are 30 State-owned enterprises under the MIF.
As reported by NewsDay, MIF chief executive officer John Mangudya announced the ESG board committee at the Director of the Year Awards 2024.
In a speech read on his behalf by MIF’s chief investment officer, Simbarashe Chinyemba, Mangudya said:
The Institute has been a leading voice on ESG and at Mutapa we have established an ESG board committee to ensure its critical focus is instilled in our portfolio companies. It is crucial to apply ESG in developing countries.
Mangudya urged business leaders to embrace responsible practices that prioritise both financial gains and positive social impacts.
The awards were organised by the Institute of Directors Zimbabwe (IODZ) and held under the theme, Celebrating Leadership Excellence and were split into 12 categories.
The event, themed “Celebrating Leadership Excellence”, was sponsored by the Zimbabwe National Roads Administration, Old Mutual Zimbabwe, and Econet Wireless Zimbabwe.
The prestigious Overall Director of the Year Award was presented to property investor Mashonaland Holdings, which also won the Director (Large & Listed) and Board of the Year Awards. The company’s chairperson, Grace Bema, was named Chairman of the Year.
Other notable winners included:
- Report of the Year Award: Innscor Africa Limited
- Best Diverse Corporation: First Capital Bank Zimbabwe
- Best CEO: Regina Chinamasa, Zimbabwe Revenue Authority Commissioner General
- Best SME Director: Clive Chisenye, CEO of Steelmate Zimbabwe
- Woman Director of the Year: Chipo Mafunga, Co-founding and Managing Partner of Chimuka Mafunga Attorneys
- Best Young Director: Arthur Matsaudza, Old Mutual Zimbabwe Digital Services Managing Director
More: Pindula News