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Mthuli Ncube sets privatisation timelines

by Staff reporter
16 Nov 2018 at 07:02hrs | Views
Finance minister Mthuli Ncube has set timelines for the disposal and partial privatisation of a number of state-owned enterprises, as part of a raft of measures to revitalise Zimbabwe’s fragile economy.

A new audit report by Auditor-General (AG) Mildred Chiri has revealed that 23 insolvent parastatals are teetering on the brink of collapse, saddled with massive debts running into hundreds of millions of dollars.

Ahead of his maiden budget presentation slated for next week, Ncube outlined a strategy to privatise struggling enterprises through listing on the Zimbabwe Stock Exchange (ZSE) and forming joint ventures. He was addressing a pre-budget seminar in Bulawayo last week.

Ncube identified nine ailing state enterprises that have consistently relied on the fiscus to stay afloat which are set to be partially privatised through partnerships and listing on the local bourse.

Source - Zim Ind