The Privatization Act was passed in 1992 to set the legislation
and regulatory framework. Among other regulatory components, it established
the Zambia Privatization Agency (ZPA) to ensure the transparency and
effectiveness of the privatization program. The independence of the Agency
and the quality of its staff, combined with a strong commitment of the
government, have been and will certainly continue to be a determining
factor of the remarkable success of the privatization program.
The institutional framework has been strengthened by the
1993 Companies and Securities Acts and by the creation, with the
collaboration of the International Finance Corporation, of the Lusaka Stock
The Agency is not only implementing and supervising the
privatization program but is also promoting a broad ownership and this, in
collaboration with the Zambia Privatization Trust Fund (ZPTF).
The World Bank is assisting in the Private Sector
Development and more specifically in the privatization program in Zambia
through different projects; among them: the Privatization and Industrial
Reform technical Assistance Project, closed in December 1999 and the
Economic Recovery and Investment Promotion Technical Assistance (ERIPTA)
Project, approved in June 1996 and closing in December 2001.