Zambia's New State-Owned Enterprise Bill: A Step Toward Enhanced Governance and Economic Growth
In a significant stride towards bolstering the governance, ownership, and performance of state-owned enterprises, Zambia is on the verge of implementing a comprehensive state-owned enterprise bill. Simomo Akapelwa, the Western Province Permanent Secretary, recently highlighted the bill’s importance, emphasizing its potential impact on the country’s economy.
During a consultative workshop focused on the draft bill, Akapelwa expressed optimism that this legislative measure will effectively address ongoing challenges faced by state enterprises. He noted that the new bill is grounded in the recently revised state-owned enterprise policy, which received the green light from Zambia’s Cabinet in October 2024. This policy aims to redefine and enhance the operational framework of these enterprises, ensuring that they not only meet their obligations but also contribute significantly to the nation’s economic landscape.
One of the key highlights of the revised policy is its clear vision for reform. This includes not just the improvement of efficiency and output within state enterprises but also a strategic focus on their performance in the broader context of Zambia’s economy. By laying the groundwork for measurable governance and accountability, the bill aims to turn state-owned enterprises into pillars of economic development, driving growth and innovation.
The consultative workshop, which saw participation from various stakeholders, served as a platform for discussing the intricacies of the bill and gathering feedback aimed at refining the draft. Akapelwa’s speech, delivered by Western Province Acting Assistant Secretary Mubitelela Sililo, underscored the collaborative spirit that is essential for the successful implementation of such reforms.
As Zambia takes this proactive approach to restructuring its state-owned enterprises, the international community is keeping a keen eye on the developments. The potential for increased transparency and efficiency could serve as a model for other nations across the continent.
With these ambitious reforms, Zambia is poised to enhance not only the effectiveness of its public enterprises but also its overall economic resilience. It’s an exciting time for the country as it embarks on a journey towards a more robust, dynamic, and accountable public sector.
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