AUSTRALIAN energy firm, Invictus Energy Limited (Invictus) has revealed a powerful local consortium—comprising the Mutapa Investment Fund, the National Social Security Authority and other leading institutional investors — to support its Cabora Bassa oil and gas project.
Following its landmark US$500 million funding commitment from Qatari investment group Al Mansour Holdings, announced in August, the firm is moving to commercialise its oil and gas Cabora Bassa Project.
The project is in the Muzarabani district of Mashonaland Central province.
Ahead of the deal, Invictus had a market capitalisation of AUD84,98 million (US$55,2 million), which has now soared to AUD256,55 million (US$168,9 million) as of Tuesday as investors have increased their interest in the firm following the involvement of Al Mansour Holdings.
Over the past two years, the Cabora Bassa Project’s exploration success has positioned Invictus as an emerging energy producer in Sub-Saharan Africa.
“During the year, the company received strong support from institutional shareholder, Mangwana Capital, which has been instrumental in mobilising a strategic investment consortium,” Invictus managing director Scott Macmillan said in a letter to shareholders attached to its annual report for the period ended June 30, 2025.
“This cornerstone group includes the Mutapa Investment Fund (the Sovereign Wealth Fund of Zimbabwe), the National Social Security Authority (NSSA) and a number of other leading local institutional investors.
“Their participation not only reinforces confidence in the company’s long-term prospects but also demonstrates alignment between Invictus’ success and Zimbabwe’s economic development objectives.”
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He said a landmark achievement was Invictus’ listing on the Victoria Falls Stock Exchange, providing Zimbabwean investors with the opportunity to directly participate in the company’s growth.
“This milestone broadens the shareholder base, fosters inclusive ownership, and enhances alignment with national stakeholders,” Macmillan said.
Invictus is committed to growing its resource base through a disciplined program of high-impact exploration and appraisal across the Cabora Bassa portfolio.
“Our fields, prospects, and leads are continually advanced through seismic acquisition, drilling, and well-testing programs, with the objective of converting resources into reserves classification — commercial resources that underpin long-term value,” Macmillan said.
“Completion of these appraisal programs will enable us to define a robust development plan, secure sales agreements, meet licensing requirements, and obtain the financing necessary to bring these resources into production.”-newssda
