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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Public Enterprise Reform and Privatisation in Zimbabwe: Economic, Legal and Institutional Aspects
Authors:Godana, Tekaligne
Hlatshwayo, BenISNI
Periodical:Zambezia (ISSN 0379-0622)
Notes:biblio. refs.
Geographic terms:Zimbabwe
Southern Africa
Subjects:economic policy
Law, Human Rights and Violence
Economics and Trade
Development and Technology
Economics, Commerce
public enterprises
Economic reform
government policy
External link:https://journals.co.za/doi/abs/10.10520/AJA03790622_337
Abstract:Although privatization of State enterprises has achieved the status of economic orthodoxy throughout the world, the degree and extent it should go and the pace and form it should take remain controversial. Besides political and ideological motives, the rationale for privatization is very often economic. In Zimbabwe, privatization has been introduced as an integral part of the IMF and World Bank economic reform packages initiated in the early 1990s. Among the most critical indicators for assessing the performance of privatization programmes are the depth and quality of programme design and management, the existence of an appropriate legislative framework, the legal authority and autonomy of the privatization body and transparency. Weighed against these indicators, Zimbabwe's privatization programme fairs badly compared to international practice in general and four other privatizing African countries - Malawi, Tanzania, Uganda and Zambia - in particular. Zimbabwe alone lacks comprehensive policy statements on public enterprise reform and privatization, adequate legal and institutional frameworks and transparent privatization processes. Worse still, there is a proliferation of bodies and institutions with conflicting roles in the parastatal reform process. To correct these anomalies and bring the Zimbabwe privatization programme into line with the now internationally accepted standards, the authors suggest a conceptual, institutional and legal framework for the way forward. Bibliogr., notes, ref., sum.