Privatisation as an Engine of Economic Diversification in Kabwe District of Central Zambia

Silongwa Simakando and Lucy Kamboni
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Silongwa Simakando: Kwame Nkrumah University, Zambia
Lucy Kamboni: Kwame Nkrumah University, Zambia

International Journal of Research and Innovation in Social Science, 2021, vol. 05, issue 10, 71-76

Abstract: This study aimed at assessing privatisation as an engine of economic diversification in Kabwe District of Central Zambia. Despite some studies arguing that privatisation subjected former employees to harsh economic conditions due to the loss of their jobs, this study argues that privatisation was an engine of economic diversification in Kabwe. This was because privatisation opened up new doors for former workers to come up with other economic activities that enabled them to earn a living. Instead of experiencing economic retrogression as suggested by some studies, former workers from the privatised parastatals engaged themselves in other economic activities like trading and farming which enabled them to live far much better lives as compared to the time when they were still in employment. The study further discusses that privatisation benefited not only former workers, but the entire community of Kabwe District. Apart from the people of Kabwe, Zambia at large and other parts of the world benefitted from the privatisation of Kabwe’s parastatals. Therefore, the findings of this study will help people within and outside Kabwe to appreciate privatisation as a blessing and not a curse

Date: 2021
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