Overview
This policy updates Zambia’s approach to governing State‑Owned Enterprises (SOEs), addressing persistent challenges such as weak oversight, fragmented ownership arrangements, high debt, poor financial performance, and limited transparency. It articulates a clear rationale for state ownership focused on maximizing long‑term societal value and operating mainly where market failures or strategic needs exist. The policy sets guiding principles aligned with OECD SOE governance standards, emphasizing an active state ownership role, competitive neutrality, equitable treatment of shareholders, robust disclosure and accountability, capable and independent boards, and sustainability/ESG integration. It outlines five objectives with measures including a corporate governance code, disclosure and reporting frameworks, an SOE ownership strategy, strengthened supervisory and performance monitoring, fiscal risk and financial oversight frameworks, debt dismantling, and promotion of strategic equity partnerships. Implementation provisions assign core ownership and oversight to the Ministry of Finance and National Planning, with roles for line ministries, state holding companies, regulators, and oversight institutions. The Government will develop a comprehensive SOE Act to standardize governance, clarify ownership and institutional arrangements, and establish policies on remuneration, dividends, partnerships, and competitive neutrality. Monitoring and evaluation will include annual reporting and periodic reviews.