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Zambia : Post-Privatization Study

ACCESS TO CAPITAL AGGREGATE DEMAND AGRICULTURAL SECTOR BANK OPERATIONS BANKRUPTCY BANKS BORROWER BRANCH BUSINESS CLIMATE CAPITAL INVESTMENT CAPITAL INVESTMENTS COLLATERAL COLLECTIVE COLLECTIVE BARGAINING COLLECTIVE BARGAINING AGREEMENTS COMMERCIAL BANK COMPANY INFORMATION COMPETITORS CONFIDENTIAL INFORMATION CONFIDENTIALITY CONSUMER DEMAND CONSUMER PRICE INDEX CORRUPTION COST OF CAPITAL DEBT DEVELOPMENT BANK DOMESTIC MARKET DONOR SUPPORT ECONOMIC GROWTH ECONOMIC LIBERALIZATION ECONOMIC SYSTEMS EMPLOYEE EMPLOYMENT ENTERPRISE DEVELOPMENT EXCHANGE RATE EXCHANGE RATES EXPORT EARNINGS FARMERS FINANCE COMPANIES FINANCIAL STATEMENTS FIRMS FIXED ASSETS FOREIGN INVESTORS FOREIGN OWNERS FOREIGN OWNERSHIP FREE TRADE GREATER ACCESS GROUP OF COMPANIES GROWTH RATE GROWTH RATES HOLDING COMPANY INCOME INCOME TAXES INCORPORATED INDEBTEDNESS INDIGENOUS ENTREPRENEURS INDIVIDUAL COMPANY INEQUALITIES INSTALLMENTS INSURANCE INVESTOR CONFIDENCE LABOR MARKET LARGE COMPANIES LIMITED LOAN LOCAL CURRENCY MANAGEMENT CONTRACT MANAGERS MANUFACTURER MANUFACTURERS MINIMUM WAGES MINING CORPORATION MISMANAGEMENT MONOPOLY OPERATING COMPANIES OVERDRAFTS PARENT COMPANY PERFORMANCE DATA PREEMPTIVE RIGHTS PRIVATE ENTERPRISE PRIVATE SECTOR GROWTH PRIVATIZATION PRIVATIZATIONS PUBLIC EDUCATION REGIONAL TRADE SAVINGS SEES SMALL COMPANY SMALLER COMPANIES SOCIAL VALUE STOCKS SUPPLIERS TAX TAX CREDITS TAX LIABILITIES TAX RATES TAX STRUCTURE TAXATION TRACK RECORD TRADE AGREEMENTS TURNOVER UNION UNIONS VILLAGE WORKING CAPITAL
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World Bank, Washington, DC
Africa | Zambia
2014-09-17T20:48:43Z | 2014-09-17T20:48:43Z | 2003-12-16

The World Bank seeks to assess the effectiveness of the privatization program which was initiated in Zambia in 1992 with significant assistance from the World Bank and other donor agencies. A review of representative sample of companies was undertaken in order to assess the effect of privatization on performance. The twenty largest non-copper mining companies by purchase price, the twenty by current assets at time of privatization, and a remaining sample of smaller companies were chosen for the study. The indicator most consistently reported by companies was turnover. This indicator was chosen as the most reliable available gauge for analysis of performance. Typically smaller and less export-oriented - the initial benefits of privatization have been difficult to sustain, and performance has faltered after the initial two years. Although recent performance has been better than in the immediate pre-privatization period, turnover among most companies has never recovered in real terms to early 1990 levels. Difficulty in sustaining the net benefits of privatization can also be attributed to a suboptimal domestic and regional environment for private sector growth. Greater attention to these constraints within the domestic and regional environment is warranted in future World Bank assistance strategies, in order to enhance the benefits of privatization and maximize new private sector growth.

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