Privatization in Africa: An appraisal

In spite of spirited efforts spanning over a decade, only a few African cou ntries can boast of any appreciable success in the privatization and/or ref orm of state-owned enterprises (SOEs). This paper argues that previous stud ies have not paid adequate attention to identifying and addressing the fact ors that affect the outcome of privatization and/or SOE reforms in Africa. After highlighting some flaws in these studies, the paper focuses on the ab sence of the prerequisites for successful SOE reform. It then suggests poli cy issues that need to be addressed first, and, the role of interested part ies, including the multilateral and bilateral financial institutions, in en hancing the success of SOE reform efforts in Africa. (C) 1998 Published by Elsevier Science Ltd. All rights reserved.