GOVERNMENT SET TO PRIVATIZE TELONE AND NETONE
Written by yafmnews on March 21, 2019
Government has intensified efforts to partially privatize telecommunication companies Telone and NetOne and is offering the two entities to potential investors as a joint package.Briefing journalists in Harare, Finance Minister Professor Mthuli Ncube said government is working on finding a transaction advisor who will evaluate the entities’ assets, formulate a strategy in terms of earning projections and shareholding levels.
Government has taken the decision to restructure parastatals as some of them have become perennial loss makers. Government announced last year that at least 11 State-owned enterprises will be privatized under the public enterprises reform framework for 2018-2020 while some will be liquidated, merged or departmentalized.