41 State-owned Enterprises To Be Restructured

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The government is in the process of restructuring 41 state-owned enterprises (SOEs). This is meant to make them commercially viable as well as reduce the financial burden on the government. Of the 41 SOEs, 13 will be privatised while 12 will be listed on the Zimbabwe Stock Exchange. The rest will be downgraded to a department, partially privatised, commercialised or undergo liquidation. Among the SOEs to be converted into public limited companies include Petrotrade, Willowvale Motor Industries, Chemplex Corporation and Deven Engineering. Speaking to the Sunday Mail, State Enterprises Reform Agency executive director, Edgar Nyoni said

Requests for expressions of interest for transactional advisors for Agribank, Petrotrade, TelOne, POSB, Zimpost were flighted and evaluation of the expressions of interest is currently underway. Requests for Expressions of Interest for Zupco, NetOne and IDBZ will be flighted soon.

The partial privatisation of the 17 Zimbabwe Mining Development Corporation subsidiaries is underway and is being implemented in batches to make the transactions manageable.

More: Sunday Mail

POSB

Post Office Savings Bank (POSB) is a savings bank owned wholly by the government of Zimbabwe. Founded in 1904, it was split up in 2001. This was a move to commercialize the bank and resulted in the creation of Net-One, Tel-One, and Zimpost and a... Read More About POSB

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