We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Zimbabwe will part-privatise or sell 35 state-owned companies and close at least two others as President Emmerson Mnangagwa seeks to revive the economy and cut government spending. Since taking over from Robert Mugabe in November, Mnangagwa has sought to end almost two decades of economic decline and reduce a debt burden of at least $11bn that it owes to lenders such as the African Development Bank. He told ministers in January that they must prove the viability of businesses under their control ahead of a comprehensive reform of state assets. The southern African nation’s postal service, known as Zimpost, landline operator TelOne Corporation and 17 mines are among businesses that will be subject to "partial privatisation,’’ Finance Minister Patrick Chinamasa told reporters in the capital, Harare, on Friday. Some may be listed on the Zimbabwe Stock Exchange, he said. At least two state-owned companies, one a glass-maker and one that wasn’t specified, will be liquidated, Chinamasa ad...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

Commenting is subject to our house rules.