Govt begins foreign  investment deals in State giants

Source: Govt begins foreign  investment deals in State giants | Daily News

Zimbabwe is engaging transaction advisers in deals to attract foreign investment in its larger State-owned enterprises (SOEs), which are undergoing reforms to make them more competitive, Finance minister Mthuli Ncube has said.

Ncube began a new round of reforms when he became minister in September aimed at streamlining its lumbering SOEs by introducing private capital, curbing overcapacity, shutting down “zombie” subsidiaries and restructuring assets.

“Having approved the implementation framework for 43 SOEs and parastatals in 2018, government has targeted five public enterprises — Tel-One, NetOne, Telecel, Zimpost and POSB — for immediate reforms and work is already underway to identify transaction advisors. Government projects to realise over US$350 million from this initial process,” Ncube said.

“Other key reforms underway include turning the Grain Marketing Board (GMB) into a strategic reserve entity under government and a commercial arm; improving the governance, leadership and operational efficiency at Allied Timbers; re-bundling Zimbabwe Electricity Supply Authority into a single corporate board to improve governance; the rationalisation of Industrial Development Corporation units and partial privatisation, as well as many more.”

Ncube said he was establishing a One-Stop-Shop Investment Centre, and legislation to establish a specific and dedicated institution — the Zimbabwe Investment and Development Agency — is now before Parliament.

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    Ndebele 2 years ago

    What about the thousands of people who invested billions of dollars in agriculture over the ast 50 years? What honesty, integrity or respect did zanu show for these investors? What about people who used Forex to build agriculture up and then Mugabe, ED, Shiri, Monica Chinammasa, Obert Mpofu, Sekeremayi, Mohadi, Chihuri, Mujuru, and all the rest of the Zanu thieves all stole their businesses under the guise of the FTLRP? What is to say that these Born Again Christian Zanu Thieves Will not do it all over again? I know Eddie Cross will tell them that it will never happen again because these are all Born Again Zanu Christian Thieves – but Mugabe is a Catholic and he still took farms? Mthuli is a Christian but he still floated a RTGS $ and stole all the peoples’ US$. Gifoen Gonzo printed amatrillions – and he would have to be a Zanu Christian – I mean even if only on Sundays? It is such a relief to think that the 20 000 civilans murdered by Shiri, Mugabe, ED and Chiwenga is no longer a problem because Eddie Cross has now upgraded these people from Murderer to Christian? We are so lucky to have Eddie Cross?