Mutapa Fund records USD 3.7 million cash increase despite heavy investment spending

The Mutapa Investment Fund closed the period ending 31 December 2024 with USD 3.49 million in cash and cash equivalents, after generating USD 4.3 million from operating activities.

The Fund spent USD 3.37 million on property and equipment and paid USD 204 100 towards lease liabilities. A bank overdraft of USD 3.01 million boosted financing inflows, resulting in a net increase in cash of USD 3.75 million.


Mutapa began the period with no opening cash balance, as it was reconstituted in September 2023 through Statutory Instrument 156 of 2023.

The Fund also reported USD 254 996 in unrealised exchange losses, reflecting the impact of currency movements on its cash holdings.


Source - Byo24News