Parastatal reforms take shape

Africa Moyo Deputy News Editor
PRESIDENT Mnangagwa says parastatal reforms have gathered momentum, with commendable milestones achieved so far in a number of companies including the National Railways of Zimbabwe (NRZ), the Grain Marketing Board (GMB) and the Cold Storage Commission (CSC).

In his State of the Nation Address (SONA) Tuesday, President Mnangagwa said: “Significant steps that have been realised in the implementation of the public enterprise reforms, these include the: de-merger of GMB into the GMB Strategic Grain Reserve and Silo Foods Industries; recapitalisation of the NRZ for which US$420 million has now been secured by the DIDG (the Diaspora Infrastructure Development Group); recapitalisation of CSC, of which the approved strategic partner is already on the ground; unbundling of the Civil Aviation Authority of Zimbabwe (CAAZ); approval by Cabinet of the roadmap for the privatisation of TelOne and NetOne as a single entity and the partial privatisation of Allied Timbers, POSB, Zupco, Agribank and the IDBZ (Infrastructure Development Bank of Zimbabwe).”

CSC investor, Boustead Beef, is already on the ground working towards the revival of the company that used to export beef to Europe.

Further, DIDG, which won the tender to recapitalise the National Railways of Zimbabwe, has indicated that the Ministry of Foreign Affairs and International Trade was playing a critical role in attracting Diasporans to invest back home.

Since the coming in of the Second Republic, the Ministry of Foreign Affairs has been mandated with championing economic diplomacy, so as to attract more investors and revitalise the economy.

Ambassadors have also been tasked with ensuring that they market investment opportunities that exist in Zimbabwe so as to grow the economy and help in the attainment of Vision 2030 of an Upper Middle Income society, where citizens have decent jobs and a per capita income of US$3 500.

DIDG executive chairman Mr Donovan Chimhandamba told The Herald that they were happy with the role being played by the Ministry of Foreign Affairs, especially in the drive to conclude the US$420 million NRZ recapitalisation project.

Source :

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