World Bank recommends ‘dismissal’ of HH from IDC Board – Daily Nation

Zambian presidential candidate for the opposition party United Party for National Development (UPND) Hakainde Hichilema gives a press conference at his residence, in Lusaka on August 11, 2021. – The UPND, the main rival to the ruling Patriotic Front (PF), is eager to tap into mounting disillusionment in the city’s poorest neighbourhoods, where dissent has grown since the last 2016 poll. (Photo by Patrick Meinhardt / AFP)

By NATION REPORTER

THE World Bank has recommended the removal President of the republic of Zambia from the Industrial Development Corporation (IDC) Board because his presence has largely compromised the State-Owned Enterprises (SOEs) ownership policy with a resultant effect of inefficiency, corruption, and mismanagement.

The World Bank has stressed that by depoliticising the board, the IDC could better align its activities with economic objectives, promote transparency and enhance investor confidence.

Additionally, the World Bank, one of the Bretton Wood Institutions in its Public Finance Review report launched in Lusaka yesterday stated that this move would underscore the commitment to professional governance and strengthen the institution’s credibility both domestically and internationally.

“This step would mitigate potential conflicts of interest and political interference, allowing the board to operate with CLICK HERE TO READ MORE

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