Stakeholders in Zambia call for evaluation of privatization program

State Owned Enterprises (SOEs)
State Owned Enterprises (SOEs)

Stakeholders in Zambia on Tuesday called for the evaluation of the privatization of state-owned enterprises as they feel the country got a raw deal.

The government embarked on a privatization of state enterprises, including the mines in 1992 due to inefficiency and loss-making.

Stakeholders have raised concerns about how some of the firms were sold, adding that the government got a raw deal.

Andrew Ntewewe, president of the Young African Leaders Initiative (YALI) said the organization will petition the chief justice and other relevant bodies to set up a Commission of Inquiry to look at how the firms were privatized.

He said the debate on the privatization program has been raging for years, adding that the matter will only rest with the establishment of a commission to probe on how the assets were disposed of.

Speaking at a press briefing, he said the organization was of the view that the privatization of the firms did not meet the required standards.

Edith Nawakwi, who was finance minister at the time of the privatization program and now an opposition leader said it was unfortunate that some of the people who were appointed as advisors to the government on the program benefited by becoming owners of some of the firms.

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