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Privatisation in Sub-Saharan Africa: Where Do We Stand by Organisation for Economic Co-Operation and Development

Posted On February 25, 2017 at 5:03 pm by / Comments Off on Privatisation in Sub-Saharan Africa: Where Do We Stand by Organisation for Economic Co-Operation and Development

By Organisation for Economic Co-Operation and Development

This booklet examines fresh growth made within the region's privatisation attempt in Sub-Saharan Africa. With cumulative proceeds of privatisation accounting for simply $8 billion in comparison to $46 billion in transition economies over an analogous interval, it truly is truly nonetheless in its infancy. The document charts development, outlines equipment used, and questions even if the targets were accomplished. It additionally examines the influence privatisation has had on assuaging poverty. it's for coverage makers, advisers and donors and learn institutes curious about the privatisation technique.

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Extra resources for Privatisation in Sub-Saharan Africa: Where Do We Stand (Development Centre Studies)

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However, the uncertainties associated with running a water utility in a developing country mean that this is not always easy to do. Further, competition is likely to be even less effective for contract renewals, since the incumbent has a significant informational advantage. In Africa, because of the small number of firms that have been actively involved in the urban water sector, it is even more difficult to ensure that bidding is competitive. , investment and network development) should be well specified, and easy to implement and monitor.

When this is not the case, and when the Bretton Woods institutions detect a blatant lack of transparency, uncompetitive transactions can lead to a straightforward suspension of donor funding programmes. In Ghana, for example, a contract awarded to Enron subsidiary Azurix for a BOOT water project was cancelled in 2002 after the World Bank withheld a $100 million funding programme because the contract had been awarded in unclear circumstances. Enforcing competition in privatisation deals is also naturally in the interest of African countries, and companies promoting uncompetitive bidding processes are sometimes prosecuted by national authorities.

At the time of the original sale, 10 per cent of the shares were sold to Sonatel employees at a highly discounted rate. Another 17 per cent were then offered in 1998 for public sale through the regional stock exchange BRVM; two-thirds were reserved for Senegalese nationals and institutions. All shares were quickly bought up; purchasers included some 9 000 Senegalese individuals who paid a total of CFAF 17 billion ($30 million). Private sale In February 2001, MSI/Detecon paid the first tranche of $60 million, but the second tranche due on 31 December 2001 was not paid, owing to a controversy over the soundness of TTCL’s financial statements.

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