The Zimbabwean government has confirmed that it is considering the sale of a majority stake in the state-owned mobile network provider, NetOne.
NetOne Chief Executive Officer, Reward Kangai, said the privatisation of the mobile parastatal was imminent. He could not however state the names of companies interested in the purchase.
“A partner will not be hand-picked. A strategic partner will be selected in a transparent manner,” said Mr. Kangai.
Recently, the newly appointed minister of finance, Tendai Biti, announced that for Zimbabwe to start generating the much needed revenue for economic resuscitation it would need to sell some of the non-performing government owned parastatals, such as NetOne, Air Zimbabwe, National Railways of Zimbabwe (NRZ) and others.
The government of Zimbabwe is looking for a whopping US$8.5 billion in order to rekindle its collapsed economy. Apart from the government owned NetOne, Zimbabwe has two other mobile metwork operators – Econet Wireless and Telecel.
