$4,5million boost for parastatals

10 Feb, 2019 - 00:02 0 Views
$4,5million boost for parastatals

The Sunday News

Sharon Munjenjema
GOVERNMENT has received an additional $4,5 million from the African Development Bank (AfDB) for performance reviews of seven parastatals to guide the future of the public entities.

This comes as Cabinet recently approved the separation of Grain Marketing Board (GMB) commercial and social divisions; and the re-bundling of Zesa subsidiaries through a $4,6 million facility provided by the AfDB in 2017.

Zimbabwe is in the process of reforming its parastatals, the majority of which had been run down over the years and failed to provide efficient services. The AfDB facility comes as the European Union (EU) and World Bank are also offering technical support in capacitating State enterprises.

In an interview, State Enterprises Restructuring Agency (Sera), senior investment analyst Mr Ernest Mujongondi confirmed the latest funding from AfDB.

“We are working with AfDB to provide additional funding for the performance review of seven parastatals and these are Central Mechanical and Equipment Department (CMED), Agricultural and Rural Development Authority(ARDA), Pig Industry Board, Agricultural Marketing Authority (AMA), National Oil Infrastructure Company (NOIC), Industrial Development Co-operation (IDC) and GMB,” he said.

“These are assessments that will be done and they will inform us on way forward. AfDB has committed to giving us another $4,5 million to cover the second phase and we hope to conclude the engagement in this first quarter so that we seal off and start the second phase.”

Mr Mujongondi said the EU was assisting Government conduct performance reviews for Zimparks, Forestry Commission (FC) and Environmental Management Agency (Ema).

Last year, Government announced a raft of parastatal reforms that hinged on dissolution, liquidation, mergers or privatisation.

Share This: