Broadening local participation in privatization of public assets in Africa

Abstract

The study begins with an overview of the trends in privatization in Sub-Saharan Africa in the last decade and half. Against this background: First, the study focuses on review of the issue, the rationale and the problems associated with broadening local participation in privatization, including the difficulty encountered in reconciling equity with corporate governance within the African context. Second, selective methods that broaden local participation are concisely discussed. These include management and employee buyouts, employee share participation, directed group ownership, public flotation and financial intermediaries.