State enterprise reform to be completed by 2019

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BERNARD MPOFU

ZIMBABWE’S state enterprises agency says privatisation, merging and restructuring of government entities is expected to be completed by 2019 as treasury seeks to wean off the entities, widely criticised for bleeding the fiscus.

Zimbabwe has 107 state-owned enterprises with bulk operating in the red due to poor governance and funding.

“The State Owned Enterprises reforms which are being implemented over the period 2018-19, include privatizing 16 entities, merging of 13 entities, liquidating 2 entities and absorbing five entities as ministerial departments,” State Enterprises Restructuring Agency executive director Edgar Nyoni said at the CZI meeting

“Transactional Advisors for the privatization of the eight entities are currently being engaged in a transparent and competitive manner”

He said some entities will embark on partial privatisation to improve their operating efficiencies.

Some of the institutions which government is considering for partial privatisation include Agribank and Infrastructure Development Bank of Zimbabwe.