{"id":103717,"date":"2025-01-30T23:06:51","date_gmt":"2025-01-30T21:06:51","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-to-sell-state-owned-enterprises-to-raise-funds-for-public-debt-repayment"},"modified":"2025-02-10T22:50:45","modified_gmt":"2025-02-10T20:50:45","slug":"zimbabwe-to-sell-state-owned-enterprises-to-raise-funds-for-public-debt-repayment","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-to-sell-state-owned-enterprises-to-raise-funds-for-public-debt-repayment","title":{"rendered":"Zimbabwe To Sell State-Owned Enterprises To Raise Funds For Public Debt Repayment"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>Zimbabwe is urgently working to identify and sell off several State-owned Enterprises (SOEs) to help reduce its growing public debt, which has exceeded US$21 billion.<\/p>\n

This massive debt, which makes up nearly 90% of the country\u2019s GDP, is threatening economic progress and undermining fiscal stability.<\/p>\n

Major creditors include the World Bank, the African Development Bank (AfDB), and members of both the Paris and non-Paris Clubs.<\/p>\n

The debt has been driven by years of borrowing, and its interest now outweighs the country\u2019s economic growth.<\/p>\n

Speaking to Business Times on the sidelines of the launch of the National Venture Capital Company of Zimbabwe (NVCCZ) event last week, Finance Minister Mthuli Ncube said the government has begun identifying assets for sale as part of efforts to address the debt. He said:<\/p>\n

We are looking to see which assets we should target. It\u2019s a work in progress. When opportunities arise, we will swing on the right assets and we\u2019ll be able to allow ourselves to dispose of them.<\/p>\n

What is more worrisome to me is that Zimbabwe\u2019s average growth of around 6% is way lower than the interest rate growth.<\/p>\n

This means that our debt will continue to be increasing. That\u2019s why we have to restructure our debt to ensure that the debt does not accumulate.<\/p>\n

Ncube urged stakeholders from various sectors\u2014such as the private sector, civil society, and development partners\u2014to view the debt crisis as a national issue, not just a government problem.<\/p>\n

Last year, the government launched high-level dialogue platforms led by AfDB President Akinwumi Adesina and former Mozambican President Joaquim Chissano.<\/p>\n

However, delays in implementing key governance reforms, necessary for clearing arrears and resolving debt, have slowed progress.<\/p>\n

Economist Gift Mugano warned that the country\u2019s rising debt, combined with its limited ability to repay, could lead to a full fiscal crisis if not addressed quickly. He said:<\/p>\n

The government\u2019s slow pace in addressing governance reforms risks further isolating Zimbabwe from international financial support.<\/p>\n

The rising debt levels demand immediate restructuring or forgiveness to avoid economic catastrophe.<\/p>\n

For More News And Analysis About Zimbabwe<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. Zimbabwe is urgently working to identify and sell off several State-owned Enterprises (SOEs) to help reduce its growing public debt, which has exceeded US$21 billion. This massive debt, which makes up nearly 90% of the country\u2019s GDP, is threatening economic progress and undermining fiscal stability. Major creditors include the World Bank, the […]<\/p>\n","protected":false},"author":84,"featured_media":103716,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,12],"tags":[14067,376,17772,17771,13785,19],"class_list":["post-103717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-arrears","tag-debt","tag-public-debt","tag-soes","tag-state-owned-enterprises","tag-zimbabwe"],"yoast_head":"\nZimbabwe To Sell State-Owned Enterprises To Raise Funds For Public Debt Repayment - zimbabwe<\/title>\n<meta name=\"description\" content=\"Zimbabwe is urgently working to identify and sell off several State-owned Enterprises (SOEs) to help reduce its growing ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-to-sell-state-owned-enterprises-to-raise-funds-for-public-debt-repayment\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zimbabwe To Sell State-Owned Enterprises To Raise Funds For Public Debt Repayment\" \/>\n<meta property=\"og:description\" content=\"Zimbabwe is urgently working to identify and sell off several State-owned Enterprises (SOEs) to help reduce its growing ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-to-sell-state-owned-enterprises-to-raise-funds-for-public-debt-repayment\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-30T21:06:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-10T20:50:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2025\/01\/sm_1738267021.675209.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"704\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-to-sell-state-owned-enterprises-to-raise-funds-for-public-debt-repayment#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-to-sell-state-owned-enterprises-to-raise-funds-for-public-debt-repayment\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Zimbabwe To Sell State-Owned Enterprises To Raise Funds For Public Debt Repayment\",\"datePublished\":\"2025-01-30T21:06:51+00:00\",\"dateModified\":\"2025-02-10T20:50:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-to-sell-state-owned-enterprises-to-raise-funds-for-public-debt-repayment\"},\"wordCount\":367,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-to-sell-state-owned-enterprises-to-raise-funds-for-public-debt-repayment#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2025\/01\/sm_1738267021.675209.jpg\",\"keywords\":[\"Arrears\",\"debt\",\"Public Debt\",\"SOEs\",\"State-owned Enterprises\",\"Zimbabwe\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-to-sell-state-owned-enterprises-to-raise-funds-for-public-debt-repayment#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-to-sell-state-owned-enterprises-to-raise-funds-for-public-debt-repayment\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwe-to-sell-state-owned-enterprises-to-raise-funds-for-public-debt-repayment\",\"name\":\"Zimbabwe To Sell State-Owned Enterprises To Raise Funds For Public Debt Repayment - 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