From Africa Recovery, Vol.11#3 (February 1998), Briefs page

Commonwealth Development Corporation aiming to privatize

The Commonwealth Development Corporation (CDC), which provides assistance to commercial enterprises in some 54 developing countries around the world, is expected to announce a programme for its own privatization by the end of 1998 or early 1999. According to the CDC's country manager for Zimbabwe, Mr. Christopher Brain, consultants retained by the UK government and the CDC are currently working on such a programme, designed to expand its capital base and broaden its range of operations. Privatization would enable the CDC to borrow from capital markets.

According to Mr. Brain, the UK government would sell 60 per cent of the CDC to private investors, but retain a "golden share" of 40 per cent. This, he said, would help preserve the CDC's "unique character and development goals as an ethical and responsible investor."

[Back to index] [To Volume11#3 -- full graphics]

Material from this article may be freely reproduced, with attribution to "Africa Recovery, United Nations".
We would appreciate a copy of the reproduction.

Africa Recovery
Room S-931
United Nations
New York, NY 10017 USA

Tel: (212) 963-6857
Fax: (212) 963-4556
Email: africa_recovery@un.org


Website: www.africarecovery.org
Contact us by email: africa_recovery@un.org