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Zimbabwe transfers power utility Zesa into sovereign wealth fund

President Emmerson Mnangagwa’s government has placed ownership of national utility Zimbabwe Electricity Supply Authority (Zesa) and six other companies into recently revamped sovereign wealth fund Mutapa Investment Fund’s portfolio, where they join the likes of National Oil Company of Zimbabwe, Petrotrade and Hwange Colliery.

African Energy takes a closer look at questions surrounding the move and examines recent developments at Mutapa that have triggered some deeper controversy.

Issue 503 - 27 March 2024

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African leaders push for reforms to global financial architecture

Shortfalls in financial flows, failures to deal with debt and a lack of voice in global decision-making arenas are longstanding issues that African leaders are now seeking to address, with leaders from Ghana, Kenya and Zambia setting out a blueprint for reform covering everything from UN Security Council seats to the reallocation of $100bn-worth of assets held by the IMF.

The extent to which these ambitious goals can be achieved could prove critical to Africa’s ability to finance and structure the energy transition on its terms – but the continent’s governments also need to accelerate their own reforms.

Issue 502 - 18 March 2024

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