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Privatisation programme suspended

    JOHANNESBURG

    Malawi announced on Monday it had suspended efforts to privatise state-owned industries, Associated Press reported. “It’s a moment of soul-searching,” Charles Msosa, Malawi’s secretary for privatisation, told journalists. “We want to look back at what we have done and see whether we are in the right direction.”

    Malawi has privatised 36 of its nearly 100 money-losing state-owned companies since the programme began in 1995.
    Msosa said the cabinet had suspended the initiative earlier this month and asked for an update to see if it was helping Malawi improve its economy.
    The state-owned companies employ over 500,000 people and account for 20 percent of the country’s total income.

    Supporters of the programme say it would help attract foreign investment. Critics say it will lead to massive job losses and the sale of most state assets to foreigners, AP said. The programme was suspended just as Malawi was to choose a partner to buy a 30 percent stake in Malawi Telecommunications Limited, the state-owned telephone company struggling to provide telecommunications to the country.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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