The privatisation programme in Zambia has been a resounding success. Zambia Privatisation Agency (ZPA) public relations officer Jane Shamwana said in an interview with African Business that approximately $93m plus has been raised from the sale of parastatals also known as State Owned Enterprises (SOEs). $150m in liabilities have been assumed by the purchasers.
A few illustrative examples of success scored in the ambitious programme include: Foodcorp (formerly Zambia Horticultural Products), which has since privatisation increased its labour force by 50% from 23 to 46 and has pumped in massive investment over the last three years, improving efficiency in the process.
Currently the firm is working closely with local farmers who supply the factory with raw materials such as mangoes, tomatoes, pineapples and citrus fruits. The injection of $3.5m in working capital has facilitated the …