Zimbabwe: Invictus Energy Promises to Deliver On Mutapa Fund’s U.S.$5 Million Stake

Invictus Energy, the company spearheading an ambitious oil and gas project in northern Zimbabwe says the Mutapa Investment Fund (MIF) recent US$5 million capital injection into the project will go a long way in turning around the country’s fortunes.

Last year, Invictus offered 151,515,152 shares worth US$10 million in a private placement out of which the MIF opted to underwrite US$5 million worth of the share issue while a private equity fund, Mangwana Capital injected another US$5 million to…