Zimbabwe hopes to raise $350 million from the sale of stakes in five state-owned companies, Finance Minister Mthuli Ncube said.
The proceeds will help the Treasury achieve its target of reducing the budget deficit to 5 percent of gross domestic product, from 12 percent, Ncube said in a statement emailed Tuesday from the capital, Harare. The government has identified 43 state-owned entities for reform, he said.
The firms earmarked for immediate sale are telecommunications companies Tel One Ltd., Net One Ltd. and Telecel Ltd., the state post office ZimPost and the People’s Own Savings Bank, Ncube said.
“Work is already under way to identify transaction advisers,” he said.
more recommended stories
Chamisa roping in members of Zanu PF (G40) says Pressure group
A pressure group going by the.
Zimbabwe nearly doubles bread price as economic woes mount
The price of bread nearly doubled.
President Mnangagwa says let’s openly talk about Gukurahundi
Zimbabwe- President Emmerson Mnangagwa has appealed.
Former Zimbabwean President Robert Mugabe not well; currently in Singapore for treatment.
Former Zimbabwean leader Robert Mugabe is.
President Mnangagwa says compensation only for elderly white farmers
Harare – The Zimbabwe government will.
Zimbabwe reaches agreement with IMF on economic reform programme
Zimbabwe has reached agreement with the.