Zimbabwe’s former central bank governor Kombo Moyana has been appointed as board chair of the country’s Sovereign Wealth Fund.
President Robert Mugabe last year signed into law a bill to set up the fund, meant to secure investments for future generations and support economic growth.
A sovereign wealth fund is a state-managed pool of money drawn from the country’s reserves, set aside for investment in strategic areas that benefit the economy and its citizens. Funding for sovereign wealth funds is typically accumulated from revenues generated from the export of a country’s natural resources, such as minerals.
The other board members are banker, Nicholas Vingirayi; Zimtrade chief executive, Sithembile Pilime and former deputy governor of the central bank, Nicholas Ncube.
Zimbabwe plans to fund its SWF by allocating a quarter of royalties and special dividends earned on minerals such as diamonds, gold and platinum.
Analysts have however warned that a great deal of transparency is required if the country is to benefit from the fund.
3 Replies to “exRBZ Govenor Kombo Moyana Appointed Sovereign Wealth Fund Boss”
Comments are closed.
He won’t have any work as mugabeland is totally broke no thing in the coffers. Like the NASA joke its a luta continua
zimeye editors verify your news please he is called kombo moyana not kembo.Zimbabwe never had such a governor plizzzzzzzzzzzzzzzzzzzzzzz
Rich countries with budget supplasses have SWF, yes Zim is rich but the weath goes to a few connected individuals, see how all these ex-Zanu cadres fired from the party are fighting to go back in, all because they have their ill gotten wealth protected if they are in Zanu, Mutasa looses a council house he got in 1984, CBZ demand Mliswa pay back an old loan, the list goes on. What happened to the community funds from Mines, zilch, this SWF is pie in the air. Zim needs roads, hospitals, schools, water and electricity. if these are sorted the rest fall in place. A few people are looting and do not care about the rest, this SWF is a pot of gold to dip their grubby hands in.