Marc Holtzman joins Mutapa

AMERICAN banker and businessman Marc Holtzman is to join an expanded Mutapa Investment Fund (MIF) board, which is likely to have two more members, it has emerged.
This comes as government has taken numerous steps to operationalise the fund and the ex-CBZ Holdings (CBZ) chairman, and others including Prassad Bamre have been appointed on the basis of their exposure to a precursor fund of Khazkstan’s sovereign wealth fund (SWF).
“I am extremely pleased and honored by the trust, and confidence… Zimbabwe has shown me to serve in this meaningful and impactful role,” Holtzman told The Financial Gazette this week, adding “I look forward to supporting Mutapa’s mission and working under John Mangudya’s [chief executive] exceptional leadership and qualities.”
“The former governor is not only a skilled, resourceful man (and if you look at his Reserve Bank reign), but has the stamina to steer Mutapa to greater heights,” he said.
While Mangudya was not available for comment at press time, the board reinforcements come as Mutapa has embarked on an aggressive acquisition spree, including a 34 percent stake in Zimre Holdings and is vying for an investment in Tongaat Hulett.
This not only resonates with the fund’s vision and approach “to be a key economic player, and preserving national assets”, but also aligns with ex-central bank boss’ emphasis on “a transparent and accountable fund, which seeks to be a “sustainable, and profitable entity that consistently prioritizes national interests.”
Hence, the recruitment of Holtzman – chairman of the Victoria Falls Investment Fund and its Rwanda equivalent – is expected to give impetus to Mutapa due to his “extensive experience in the global financial word, advisory capabilities and stellar performance at CBZ”.
As it is, the American banker joins a board that is led by Chipo Mutasa and Bhamre, who is the fund’s investment committee chair.
On his part, Mangudya was appointed due to his elaborate civil duty or track record and loyalty to President Emmerson Mnangagwa’s government.
With a strengthened leadership team and a clear vision, Mutapa is well-positioned to play a pivotal role in revitalizing Zimbabwe’s state-owned enterprises and contributing to the nation’s long-term economic stability and prosperity.