Telecoms Get Partial Privatisation

The 2019 Budget announced by the Minister of Finance Professor Mthuli Ncube yesterday called for the partial privatisation of TelOne, NetOne and Telecel through joint ventures or listings.

Early in October Professor Mthuli Ncube said that the government had spent $500m in assisting Parastatals that were struggling, and with privatisation the government expects proceeds of at least $350million. 

The government has however, refrained from taking over all, or part of the debts that State Owned Enterprises have accrued, and maintains that “not all debt is risky to potential investors”. Partial privatisation is an opportunity for state owned entities to resuscitate their operations, so that they  contribute to the Gross Domestic Product.

ZIMPOST and POSB are also on the list for privatisation.

 

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