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Privatisation deadline for parastatals

Under pressure from the IMF and World Bank, The government has given key parastatals between six and nine months to compete their privatization. “Minister Ncube said those that need to be liquidated will go under the hummer, with already three targeted for dissolution, while a further seven State-owned entities will be departmentalised into line ministries. He said Government will dissolve all subsidiary boards of ZESA Holdings and allow ZPC to engage strategic partners for its power generation projects. Grain Marketing Board (GMB) will be demerged into a commercial business unit and Strategic Grain Reserve.”

Zimbabwe announces privatisation of ailing state firms

The government has announced it will privatize and merge parastatals. “Larger parastatals and manufacturers including vehicle assembler Willowvale Mazda Motor Industries, Chemplex Corporation and Deven Engineering are set for partial privatization. The Civil Aviation Authority of Zimbabwe is to be “unbundled into a regulatory and airports authority” while the current recapitalization program for the National Railways of Zimbabwe is expected to continue.”

Source: Fin24

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