1. Two years ago in TSP, Cde @MthuliNcube( yes, now i easily add the Cde prefix before his name for he has fought a hard fight) promised to reform parastatals among many other things. Today I will take time to share progress on some of the parastatals among other aspects.
2. *Storage Commission*
Launching the TSP, Ncube announced a draft livestock farming concession agreement with UK’s Boustead Beef. Boustead, would take over CSC’s feedlots and abattoirs. Two years on, CSC is nowhere near any rescue, and still US$36 million in debt.
Launching the TSP, Ncube announced a draft livestock farming concession agreement with UK’s Boustead Beef. Boustead, would take over CSC’s feedlots and abattoirs. Two years on, CSC is nowhere near any rescue, and still US$36 million in debt.
3. According to @MoLAWRR_Zim Minister Anxious Masuka last week, CSC is being placed under reconstruction to protect it from creditors.
“In terms of progress (on a deal to revive CSC), we all know that the expectations have not been met,” Masuka said.
“In terms of progress (on a deal to revive CSC), we all know that the expectations have not been met,” Masuka said.
4. *National Railways of Zimbabwe*
In 2018, government signed a US$400 million deal with the Diaspora Infrastructure Development Group (DIDG) to start fixing NRZ.
All seemed on track when @edmnangagwa travelled to Bulawayo to launch DIDG’s locomotives in 2018.
In 2018, government signed a US$400 million deal with the Diaspora Infrastructure Development Group (DIDG) to start fixing NRZ.
All seemed on track when @edmnangagwa travelled to Bulawayo to launch DIDG’s locomotives in 2018.
5. But, in 2019, government cancelled the contract as the consortium had failed to show it had the financial backing to complete the project.
6. *Telecoms:*
The TSP’s plan was to sell Zimbabwe’s telecoms assets, which @MthuliNcube's estimates would earn the country US$350 million. Nothing has happened. The plan; bundle @NetOneCellular and @TelOneZW together and sell.
The TSP’s plan was to sell Zimbabwe’s telecoms assets, which @MthuliNcube's estimates would earn the country US$350 million. Nothing has happened. The plan; bundle @NetOneCellular and @TelOneZW together and sell.
7. But talks between the two didn’t go far, showing investors’ lack of appetite for the debt-laden firms.
The transactions did not leave the ground; @NetOneCellular and @TelOneZW cannot afford the US$5 million transaction fees for consultancy services.
The transactions did not leave the ground; @NetOneCellular and @TelOneZW cannot afford the US$5 million transaction fees for consultancy services.
8. Government has since cancelled the consultancy contract with @PwC and approached the @WorldBank's @IFC_org for help. The TSP’s plan was also to merge ZESA’s tech company @PowerTelZW with Zarnet and @Africom_ZW.
9. @ZimTreasury says that merger has been “painstakingly slow” and that “counter proposals to the merger have been put across.”
10. *Allied Timbers:*
The TSP’s plan was to partially privatise @AlliedTimbers by this year. It hasn’t happened. @AlliedTimbersZ cannot afford the fees; the African Development Bank has pledged to pay for the consultancy fees,
The TSP’s plan was to partially privatise @AlliedTimbers by this year. It hasn’t happened. @AlliedTimbersZ cannot afford the fees; the African Development Bank has pledged to pay for the consultancy fees,
11. while #Zimbabwe government will pay the success fees from the money it gets from the sale.
12. Industrial Development Corporation (IDC)
The TSP pledged to sell off assets of the state-owned industrial group, wc hs multiple subsidiaries.
@UralchemUK, one of the world’s largest fertiliser companies, bid for IDC’s @ChemplexInc, Zimbabwe’s largest fertiliser manufacturer
The TSP pledged to sell off assets of the state-owned industrial group, wc hs multiple subsidiaries.
@UralchemUK, one of the world’s largest fertiliser companies, bid for IDC’s @ChemplexInc, Zimbabwe’s largest fertiliser manufacturer
13. . @UralchemUK owner, the billionaire Dmitry Mazepin, travelled to #Zimbabwe at least twice to push for the deal. He said he would only agree to a deal that gives him at least a 50% stake in @ChemplexInc.
14.The IDC has received six bids for Willowvale Mazda Industries and three bids for Deven Engineering. No date has been given on the announcement of winning bidders.
IDC has sold Zimglass to a local company, Brainman, for US$22 million.
IDC has sold Zimglass to a local company, Brainman, for US$22 million.
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