Reserve Bank Of Zimbabwe To Sell Seven Companies

On Tuesday the central bank invited bids for the companies as well as provision of financial advisory services for the disposal of the assets.

Two of the companies that are being sold, the central bank have 100 percent shareholding.

The companies were identified as Tractive Power Holdings where the RBZ holds 58,7 percent shareholding, Tuli Coal (70 percent), Transload (Bio Diesel) (50 percent) , Sirtech (Pvt) Ltd (65 percent), Homelink (100 percent) and Carslone Enterprise (100 percent).

RBZ said participation in the acquisition of the assets was “open to all Zimbabwean citizens, locally registered companies as well as to foreigners and externally registered firms subject to the indeginisation laws of the country.”

“In the case of individuals and bodies corporate wishing to acquire any of the assets under disposal, proof must be submitted relating but not limited to nationality and residency of the bidder as well as demonstration of ability to pay for the assets being acquired, the RBZ said in a statement.

As of July last year, the RBZ owed various creditors over US$1.5 billion, which accrued from its various quasi fiscal activities before the formation of the inclusive government.

A number of creditors including suppliers of agriculture inputs have attached RBZ property, which they have auctioned in different parts of the country.

The bank has also retrenched more than half of its staff to stay afloat but the governor Gideon Gono says the financial problems have not eased.