Mutapa Fund seizes ZESA board control

According to New Zimbabwe, the Mutapa Investment Fund (MIF) appointed an 11-member board for ZESA (Private) Limited, completing a restructuring that consolidates ZESA Holdings, ZPC, and ZETDC into a single utility. This move centralizes control over Zimbabwe's power sector under a state-owned fund. Industry analysts warn the consolidation risks creating a bureaucratic bottleneck, as MIF now holds sway over generation, transmission, and distribution. Critics argue the fund lacks operational expertise in energy, raising concerns about efficiency and accountability. MIF's dual role as investor and regulator threatens to stifle independent oversight and private-sector participation in a sector already plagued by chronic power shortages.