HARARE — Zimbabwe’s sovereign investment vehicle Mutapa Investment Fund has appointed Patrick Maseva-Shayawabaya as chief executive officer of its gold division, replacing Trevor Barnard, who had assumed the role in 2024.
Maseva-Shayawabaya previously served as managing director of Freda Rebecca Gold Mine, the largest asset under Kuvimba Mining House. His appointment signals a strategic push to strengthen operational leadership within Mutapa’s gold portfolio.
Barnard, meanwhile, joined Mutapa from Prospect Lithium Zimbabwe, where he held the position of general manager.
Restructuring to Attract Capital
The leadership change comes amid a broader restructuring initiative launched in February, which saw Mutapa reorganise its mining interests into commodity-specific subsidiaries covering gold, platinum, base metals and energy.
The restructuring is designed to improve asset visibility and governance, positioning the fund to attract both domestic and international investors.
Funding Strategy Underway
As part of its 2026 capital strategy, Mutapa is seeking to raise approximately US$75 million from local banks to support ongoing operations. The fund is also advancing a US$400 million commodity offtake agreement aimed at securing long-term financing tied to mineral output.
The combination of leadership changes, structural reorganisation and funding initiatives underscores Mutapa’s efforts to unlock value from Zimbabwe’s mineral assets while strengthening its balance sheet and investor appeal.
