HARARE - The crises ridden Reserve Bank of Zimbabwe on Tuesday invited bids for the bank's seven assets that include stakes in manufacturing, energy, and financial companies in order to concentrate on its co business as required by the Reserve Bank act a brainchild of Finance Minister Tendai Biti.
With a free rein in at the RBZ Gideon Gono before the inclusive government era swooped on every sector of the country’s economy, however, a strong Minister of Finance Biti has clipped his wings and made the bank that recently laid off more than half of its inflated labour force in a bid to cut operational costs concentrate on its co business through an act of parliament.
“Consistent with the Reserve Bank Act (chapter 22:15) which requires that the Reserve Bank of Zimbabwe (RBZ) disposes of its assets not related to its co functions, the Bank hereby notifies the public that it intends to dispose of assets… consisting of shares that the Bank holds or controls in various listed and unlisted companies,” read a statement from the RBZ Board.
The central bank had spread its tentacles to almost every facet of the economy in Zimbabwe and will on the 10th of June close bids for Tractive Power Holdings Pvt Lmt a manufacturing company in which it holds a 58.75 percent share.
Tuli Coal, a mining company in which the bank has a 70 percent stake; Transload (Bio-Diseal) 50 percent and a 64.9 percent stake in Astra Holdings a manufacturing company.
RBZ tentacles also spread to Sirtech a scientific and research company in which the bank has 65 percent stake, Homelink in the financial sector and also Carslone Enterprises in which the Bank has 100 percent shares.
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