Expectations from the new governmentThe private sector plays a very important role in the economic development process of any nation. The private sector, in aggregate, are the chief source of employment and job creation in the economy. In addition, proponents of free-market economic principles argue that privately owned and run enterprises tend to be more disciplined and efficient compared to public owned and run companies. By running efficiently, private enterprises tend to bring about welfare gains in the economy.In Zambia, the private sector has employed more people than the public sector. According to the International Labour Organisation (ILO), the private sector in Zambia contributed about 69.05%, 86.98% and 88.05% to total employment in 2017, 2018 and 2019, respectively. The data shows that, if unemployment is to reduce significantly in Zambia, creating a favourable business environment for private enterprises to flourish is key. In fact, supporting private sector-led employment creation is necessary to ease the wage […]
Expectations from the new government
