business / companies
Reserve Bank to dispose its 100% shareholding in Homelink
01 Jun 2011 at 06:11hrs | Views
In a move to try and clear debt estimated at over $1 billion, the Reserve Bank of Zimbabwe (RBZ) is planning to dispose off it\'s non-core assets and shareholding in seven companies.
RBZ plans to shed off 58,75% shareholding in Tractive Power Holdings, 70% in Tuli Coal, 50% in Transload, 64,9% in Astra Holdings, 65% in Scientific Research and Industrial Development.
It also plans to dispose its 100% shareholding in Homelink and Carslone Enterprise.
In a statement on Monday, RBZ said: "Participation in the acquisition and or disposal of the said RBZ assets is open to all Zimbabwe citizens, locally registered companies, as well as to foreigners and externally-registered firms, subject to the indigenisation laws of the country."
"In the case of individuals and bodies corporate wishing to acquire any assets under disposal, proof must be submitted relating, but not limited to, nationality and residency of bidder as well as demonstration of ability to pay for the assets being acquired."
The central bank set June 30 as the deadline for the submission of bids.
RBZ also invited independent financial advisors to undertake the disposal as a way of making the process transparent.
The central bank in February retrenched 1 500 workers and expects to retrench part of the 530 workers that remained.
The 1 500 workers that were retrenched are receiving their packages in batches because the bank is bankrupt.
Recent local media reports said that the central bank faces closure as it was losing some of its finest brains through the retrenchment exercise.
RBZ plans to shed off 58,75% shareholding in Tractive Power Holdings, 70% in Tuli Coal, 50% in Transload, 64,9% in Astra Holdings, 65% in Scientific Research and Industrial Development.
It also plans to dispose its 100% shareholding in Homelink and Carslone Enterprise.
In a statement on Monday, RBZ said: "Participation in the acquisition and or disposal of the said RBZ assets is open to all Zimbabwe citizens, locally registered companies, as well as to foreigners and externally-registered firms, subject to the indigenisation laws of the country."
"In the case of individuals and bodies corporate wishing to acquire any assets under disposal, proof must be submitted relating, but not limited to, nationality and residency of bidder as well as demonstration of ability to pay for the assets being acquired."
The central bank set June 30 as the deadline for the submission of bids.
RBZ also invited independent financial advisors to undertake the disposal as a way of making the process transparent.
The central bank in February retrenched 1 500 workers and expects to retrench part of the 530 workers that remained.
The 1 500 workers that were retrenched are receiving their packages in batches because the bank is bankrupt.
Recent local media reports said that the central bank faces closure as it was losing some of its finest brains through the retrenchment exercise.
Source - Byo24News
