Zimbabwe to sell shares in 35 state-owned firms - Chinamasa

President Emmerson Mnangagwa, who came to power in November after a de facto military coup forced Robert Mugabe to resign, has made reviving the economy his top priority.

FILE: Zimbabwean Finance Minister Patrick Chinamasa. Picture: search.co.zw

HARARE - Zimbabwe will look to sell shares in 35 state-owned firms, including telecoms and mining entities, Finance Minister Patrick Chinamasa said on Friday in the country’s latest step to revive the economy under new political leadership.

New President Emmerson Mnangagwa, who came to power in November after a de facto military coup forced Robert Mugabe to resign, has made reviving the economy his top priority.

Chinamasa told reporters that Mnangagwa’s cabinet had on Tuesday decided that the government would partially sell some shares in a range of state-owned companies, known locally as parastatals.

These include mobile carriers NetOne and Telecel and fixed-line operator TelOne, which are all owned by the government.

Shares in 17 government-run mines would also be sold.