NetOne sale suspended until global economy improves

11 May 2009

A Zimbabwean cabinet minister revealed last week that the government was halting the planned sale of stakes in loss-making state enterprises, including mobile network operator NetOne, until the global economic climate improves. Economic planning and investment promotion minister Elton Mangoma told members of the Employers’ Confederation of Zimbabwe that undertaking a privatisation drive could prejudice the government in a time when the country desperately requires funds to kick-start the economy. ‘We are not selling anything because prices are very low at present,’ Mangoma announced. Other enterprises earmarked for privatisation include airline Air Zimbabwe and steelmaker Ziscosteel.

Zimbabwe, NetOne