This update discusses the privatisation process in Zambia during 1991. This seven year programme is widely hailed as ‘the success story of Africa’ but this process was not always trasparent and above board. The socio-economic impact was greater than anticipated when the inflation spiralled form 18.6% in 1997 to over 30% in 1998. A failure to complete the process has arguably greater long-term costs in terms of lost investment and profitability. The lesson to be learned is that privatisation demands transparency.
