From 1997 till the end of the decade, at least 1,500 privatisations will be completed in Africa.
Major programmes are ongoing in South Africa, Zambia, Ghana, Uganda and Nigeria. Details of
these programmes are as follows.
South Africa
Some major parastatals are being privatised. The disposal by the state of a strategic stake in
Telkom will probably be the first major transaction.
Zambia
Zambian Consolidated Copper Mines (ZCCM) currently owned by the state is being
demerged into 12 different packages. Majority stakes are being offered to investors in each
package, with the government retaining a minority holding of up to 25 per cent of the
shares. These shares will subsequently be sold off through the Lusaka Stock market.
Nigeria
There are proposals for the privatisation of the Nigerian energy sector, which could net over
$40bn for the Federal government. The proposed privatisation of oil and gas industries,
would transform the economic outlook for Nigeria. It would bring with it enormous
opportunities for the country and offer an excellent opportunity to once again place Nigeria
on a sound global footing.
