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1 Introduction and Background

1. World Bank, World Development Indicators, Zambia: GDP per capita (in constant 2005 USD). Available at: http://databank.worldbank.org/ (accessed 11 December 2013).

2. Copper wealth in Zambia, The Guardian, 6 March 1965, p. 1. 3. IMF, International financial statistics yearbook, 1994. Washington DC: IMF,

pp. 778– 781. 4. Gulhati, R. (1989). Impasse in Zambia: The economics and politics of

reform, EDI development policy case series analytical case studies, No. 2. Washington DC: World Bank, p. 3. Wulf, J. (1988). ‘Zambia under the IMF Regime’. African Affairs, 87(349), 579– 594, 581.

5. United Nations Development Programme, The 2013 Human Development Report – The Rise of the South: Human Progress in a Diverse World. Human Development Report Office, 2013. Washington DC: United Nations, pp. 144– 147.

6. Hall, R. (1969). The high price of principles: Kaunda and the white south. Boulder: Holmes and Meier. Fraser, A. (2010). ‘Boom and bust on the Zambian cop-perbelt’. In Fraser A., Larmer, M. (eds) Zambia, mining, and neoliberalism. New York: Palgrave Macmillan, pp. 6– 10.

7. Bloom, D. E., Sachs, J. D., Collier, P. and Udry, C. (1998). Geography, demography, and economic growth in Africa, Brookings papers on economic activity, 2, 207– 295. Ndulu, B. J. ed. (2008). The political economy of economic growth in Africa, 1960– 2000, Vol. 2. Cambridge: Cambridge University Press.

8. Examples include, Nunn, N. (2007). ‘Historical legacies: A model link-ing Africa’s past to its current underdevelopment’. Journal of Development Economics, 83(1), 157– 175. Austin, G. (2008). ‘The “reversal of fortune” thesis and the compression of history: Perspectives from African and comparative economic history’. Journal of International Development, 20(8), 996– 1027.

9. Austin, G. (2008). ‘The “reversal of fortune” thesis and the compression of history: Perspectives from African and comparative economic history’. Journal of International Development, 20(8), 996– 1027, p. 997.

10. Acemoglu, D., Johnson, S. and Robinson, J. A. (2002). ‘Reversal of fortune: Geography and institutions in the making of the modern world income distribution’. The Quarterly Journal of Economics, 117(4), 1231– 1294. North, D. C. (1991). ‘Institutions’. Journal of Economic Perspectives, 5(1), 97– 112.

11. du Plessis, S., du Plessis, S. (2006). ‘Explanations for Zambia’s economic decline’. Development Southern Africa, 23(3), 351– 369. du Plessis, S. (2007). ‘Property rights as an institution in Zambia’. South African Journal of Economic History, 22( 1– 2), 1– 21.

12. Tordoff, W. ed. (1980). Administration in Zambia. Manchester: Manchester University Press, p. 43.

Notes

194 Notes

13. Hall, R. (1969). The high price of principles: Kaunda and the white South. Boulder: Holmes and Meier, p. 6.

14. Wulf, J. (1988). ‘Zambia under the IMF Regime’. African Affairs, 87(349), 579– 594, p. 581.

15. National Accounts, Copper Industry Services Bureau, Kitwe, quote in: Elliott, C. ed. (1971). Constraints on the economic development of Zambia. Nairobi: Oxford University Press, p. 3.

16. Hart Group (2013). Reconciliation report, Zambia extractive industry transpar-ency initiative. Thyne: Hart Group.

17. Hansungule, M., Feeney, P. and Palmer, R. H. (1998). Report on land tenure insecurity on the Zambian Copperbelt. Lusaka: Oxfam, p. 16.

18. Gluckman, M. (1967). The judicial process among the Barotse of Northern Rhodesia (Zambia). Manchester: Manchester University Press, p. 2.

19. Welensky, R. (1964). Welensky’s 4000 days: The life and death of the Federation of Rhodesia and Nyasaland. London: Collins, p. 21.

20. Phiri, B. J. (2006). A political history of Zambia: From colonial period to the 3rd Republic. Eritrea: Africa World Press, pp. 31– 92.

21. Ibid., p. 233.22. Great Britain (1964). Zambia Independence Act 1964. Chapter 65. Available

at: http://legislation.data.gov.uk/ukpga/1964/65/data.htm (accessed 27 January 2014).

23. Mbao, M. (2007). ‘The politics of constitution- making in Zambia: Where does the constituent power lie?’ Draft paper presented at African network of constitutional law conference on fostering constitutionalism in Africa, April 2007, Nairobi, p. 5.

24. GRZ, The Constitution of the Republic of Zambia, 1964, Parliamentary Library, Lusaka.

25. Madison, J. (1788). ‘The Federalist No. 51: The structure of the government must furnish the proper checks and balances between the different depart-ments’. Independent Journal, 6.

26. Presidential Republic in N. Rhodesia: Independence for ‘Zambia’ in October, The Guardian, 20 May 1964, p. 1.

27. Ibid., p. 1.28. Seers, D. (1964). Economic Survey Mission on the Economic Development of

Zambia, Report of the UN/ECA/FAO. Ndola: Falcon Press.29. BSAC to sell, Financial Times, 23 August 1963, p. 1.30. Faber, M. L. O., Potter, J. G. (1971). Towards economic independence: Papers on

the nationalization of the copper industry in Zambia. Cambridge: Cambridge University Press, p. 43.

31. Ibid., p. 48.32. For an excellent and up- close account of the final hours, see Galbraith,

J. S. (1974). Crown and charter: The early years of the British South Africa Company. Berkeley: University of California Press.

33. ‘Chartered’ firm on its rights, The Guardian, 16 September 1964, 12. Challenge on validity of £7m treaties, The Guardian, 21 September 1964, p. 5.

34. Martin, A. (1972). Minding their own business: Zambia’s struggle against Western control. Harmondsworth: Penguin, p. 133.

35. ‘Chartered’ to pay less next year, The Guardian, 6 November 1964, p. 16. Merger of British South Africa Co. Being Considered, The Wall Street Journal, 23 November 1964, p. 4.

Notes 195

36. Faber, M. L. O., Potter, J. G. (1971). Towards economic independence: Papers on the nationalization of the copper industry in Zambia. Cambridge: Cambridge University Press.

37. Future of copper in Zambia, The Guardian, 12 December 1964, p. 11.38. Martin, A. (1972). Minding their own business: Zambia’s struggle against Western

control. Harmondsworth: Penguin, p. 59.39. No decision on copper royalties, The Guardian, 2 April 1965, p. 7.40. Strain in copper dispute, The Guardian, 3 May 1965, p. 9.41. Copper royalties unchanged, The Guardian, 8 May 1965, p. 9. Zambian royal-

ties, The Guardian, 24 May 1965, p. 13.42. Seers, D. (1964). Economic survey mission on the economic development of

Zambia, report of the UN/ECA/FAO. Ndola: Falcon Press.43. Ibid., p. 121.44. GRZ, Office of National Development and Planning, Transitional National

Development Plan 1965– 1966, 1965, Parliamentary Library, Lusaka. GRZ, Office of National Development and Planning, First National Development Plan 1966– 1970, 1966, Parliamentary Library, Lusaka.

45. GRZ, Office of National Development and Planning, First National Development Plan 1966– 1970, 1966, Parliamentary Library, Lusaka, p. 5.

46. Ibid., p. 6.47. Ibid., p. 11.48. Kaunda, K. D. (1967). Humanism in Zambia and a guide to its implementa-

tion, Part I. Lusaka: Zambia information services. Minutes of UNIP National Council, resolution to adopt Zambian policy of humanism, 26 April 1966, UNIP 1/1/6/48, UNIP Archive, Lusaka, Appendix C.

49. Shaw, T. M. (1976). ‘The foreign policy of Zambia: ideology and interests’. Journal of Modern African Studies, 14(1), 79– 106, p. 81. Hallen, B. (2009). A short history of African philosophy. Bloomington: Indiana University Press, pp. 72– 89.

50. Kaunda, K. D. (1967). Humanism in Zambia and a guide to its implementation, Part I. Lusaka: Zambia information services.

51. Minutes of UNIP National Council, resolution to adopt Zambian policy of humanism, 26 April 1966, UNIP 1/1/6/48, UNIP Archive, Lusaka, Appendix C.

52. Kaunda K. D. (1966). A humanist in Africa: letters to Colin M. Morris from Kenneth D. Kaunda. London: Longmans.

53. Ibid., p. 78.54. Kaunda, K. D. (1967). Humanism in Zambia and a guide to its implementation,

Part I. Lusaka: Zambia information services, p. 10.55. Ibid., p. 14.56. Larmer, M. ed. (2010). The Musakanya papers: The autobiography writings of

valentine Musakanya. Lusaka: Lembani Trust, pp. 49– 50.

2 What the Literature Already Tells Us

1. Chisala, B. S. (1994). The Downfall of President Kaunda. Lusaka: Co- op Printing, p. 97.

2. Macpherson, F. (1974). Kenneth Kaunda of Zambia: The times and the man. Lusaka: Oxford University Press, p. 72.

196 Notes

3. Kaunda K. D. (1966). A humanist in Africa: Letters to Colin M. Morris from Kenneth D. Kaunda. London: Longmans, p. 72.

4. National Accounts, Copper Industry Services Bureau, Kitwe, quoted in Elliott, C. ed. (1971). Constraints on the economic development of Zambia. Nairobi: Oxford University Press, p. 3.

5. As will be seen in Chapter Three, the GRZ conservatively valued the book value of the two companies’ assets at USD 297 million in 1969; this accounted for 80 per cent of the Zambia’s Gross Capital Formation, accord-ing to the World Bank. World Bank, World Development Indicators, Zambia: Gross Capital Formation (Current US$). Available at: http://databank.worldbank.org/ [accessed 11 December 2013]. Faber, M. L. O. (1971). Corporate Policy on the Copperbelt. In: Faber, M. L. O. and Potter, J. G. (1971). Towards economic independence: Papers on the nationalization of the copper industry in Zambia. Cambridge: Cambridge University Press, p. 1.

6. Ibid, p. 9. 7. Martin, A. (1972). Minding their own business: Zambia’s struggle against Western

control. Harmondsworth: Penguin, p. 59. 8. Seidman, A. (1974). ‘The distorted growth of import- substitution industry:

The Zambian case’. The Journal of Modern African Studies, 12 (04), 601– 631, 601. Elliott, C. ed. (1971). Constraints on the economic development of Zambia, Nairobi, Oxford University Press, p. 3. Faber, M. L. O., Potter, J. G. (1971). Towards economic independence: Papers on the nationalization of the copper industry in Zambia. Cambridge: Cambridge University Press, pp. 1– 13.

9. Jerven, M. (2008). African economic growth reconsidered: Measurement and performance in East- Central Africa, 1965– 1995, unpublished PhD. disserta-tion, London School of Economics.

10. Fraser, A. and Larmer, M. eds (2010). Zambia, Mining, and Neoliberalism: Boom and Bust on the Globalized Copperbelt. Palgrave Macmillan, pp. 9, 38.

11. Schwartz, E. S. (1997). ‘The stochastic behavior of commodity prices: Implications for valuation and hedging’. The Journal of Finance, 52 (3), 923– 973. Duffie, D. (2010). Dynamic asset pricing theory. Princeton: Princeton University Press.

12. Meller, P. and Simpasa, A. (2011). Role of Copper in the Chilean & Zambian Economies: Main Economic and Policy Issues, Global Development Network, Working Paper No. 43, June 2011.

13. Bloomberg L.P, Bloomberg Data Services, Quarterly London Metals Exchange (LME) Copper Prices, Q1 1960– Q4 1991.

14. Auty, R. M. (1991). ‘Mismanaged mineral dependence: Zambia 1970– 90’. Resources Policy, 17 (3), 170– 183.

15. Kaunda quoted by Hall in: Hall, R. (1969). The high price of principles: Kaunda and the white South. Boulder: Holmes and Meier, p. 6.

16. Prices quoted by Kaunda are in Zambian Kwacha (ZMK), at the time worth approximately USD 1.4.

17. Summary Report of the Economic Situation in Zambia, 30 June 1975, UNIP 1/26, UNIP Archive, Lusaka, p. 2.

18. Sachs, J. D. and Warner, A. M. (1995). Natural resource abundance and eco-nomic growth (No. w5398). National Bureau of Economic Research.

19. Auty, R. M. (1990). Resource- based industrialization: Sowing the oil in eight develop-ing countries. Oxford: Clarendon Press. Gelb, A. H. (1988). Oil windfalls: Blessing

Notes 197

or curse? Oxford: Oxford University Press. Nankani, G. (1979). Development problems of mineral exporting countries: A background study for world development report 1979. Washington DC: World Bank.

20. Corden, W. M. and Neary, J. P. (1982). ‘Booming sector and de- industrialisation in a small open economy’. The Economic Journal, 92 (368), 825– 848, 841, 825.

21. Corden, W. M. (1984). ‘Booming sector and Dutch disease economics: Survey and consolidation’. Oxford Economic Papers, 36 (3), 359– 380, p. 374.

22. Bevan, D. L., Collier, P. and Gunning, J. W. (1987). ‘Consequences of a com-modity boom in a controlled economy: Accumulation and redistribution in Kenya 1975– 83’. The World Bank Economic Review, 1 (3), 489– 513, 510.

23. Pamu, M. (2011). Does the copper price explain the deviation of the real exchange rate from the purchasing power parity equilibrium in Zambia? In: Bank of Zambia (2011). Issues on the Zambian Economy. Lusaka: Bank of Zambia.

24. Kayizzi- Mugerwa, S. (1991). ‘External shocks and adjustment in a mineral dependent economy: A short- run model for Zambia’. World Development, 19 (7), 851– 865.

25. Seers, D. (1964). Economic Survey Mission on the Economic Development of Zambia, Report of the UN/ECA/FAO. Ndola: Falcon Press. Bostock, M. and Harvey, C. eds (1972). Economic independence and Zambian copper: A case study of foreign investment. New York: Praeger. Martin, A. (1972). Minding their own business: Zambia’s struggle against Western control. Harmondsworth: Penguin.

26. Deininger K. and Olinto P. (2000). Why liberalization alone has not improved agricultural productivity in Zambia: The role of asset owner-ship and working capital constraints, Policy Research Working Paper 2302. Washington DC: World Bank. Alwang, J., Siegel, P. B. and Jorgensen, S. L. (1996). ‘Seeking guidelines for poverty reduction in rural Zambia’. World Development, 24 (11), 1711– 1723, 1721.

27. Thurlow, J. and Wobst, P. (2004). The road to pro- poor growth in Zambia: Past lessons and future challenges, International Food Policy Research Institute, pp. 2, 5.

28. Mwanawina, I. and Mulungushi, J. (2002). Explaining African economic growth performance: The case study for Zambia. Global Development Network Draft Working Paper, p. 23.

29. Goodman, S. (1968). Investment policy in Zambia. In: Fortman, B. D. G. ed. (1969). After Mulungushi: The economics of Zambian humanism. Nairobi: East African Publishing House, p. 174.

30. Ndulu, B. J. ed. (2008). The political economy of economic growth in Africa, 1960– 2000, Vol. 2. Cambridge: Cambridge University Press, p. 272.

31. World Bank, What would it take for Zambia’s copper mining industry to achieve its potential? Finance & Private Sector Development Unit Africa Region, 2010. Washington DC: World Bank. Available at: http://sitere sources.worldbank.org/INTZAMBIA/Resources/ copper- mining- summary- note( online- copy).pdf [accessed 13 January 2014], p. 5.

32. Important contributions include: Prebisch, R. (1950). The economic develop-ment of Latin America and its principal problems, United Nations Department of economic affairs. New York: UN. Kindleberger, C. P. (1956). The terms of trade. Boston: MIT. Maizels, A., Campbell- Boross, L. F. and Rayment, P. B. W. (1968).

198 Notes

‘Exports and economic growth of developing countries’, The National institute of economic and social research, vol. 25. Mikesell, R. F. (1997). ‘Explaining the resource curse, with special reference to mineral- exporting countries’, Resources Policy, 23 (4), 191– 199.

33. Frank, A. G. (1969). Capitalism and underdevelopment in Latin America: Historical studies of Chile and Brazil. New York: Monthly Review Press.

34. Rosenstein- Rodan, P. N. (1943). ‘Problems of industrialisation of eastern and south- eastern Europe’. The Economic Journal, 53 (210/211), 202– 211. Rostow, W. W. (1971). The stages of economic growth: A non- communist manifesto (vol. 960). London: Cambridge University Press.

35. Goodman, S. (1968). Investment policy in Zambia. In: Fortman, B. D. G. ed. (1969). After Mulungushi: The economics of Zambian humanism. Nairobi: East African Publishing House, p. 166.

36. Harvey, C. (1971). Financial constraints on Zambian development. In: Elliott, C. ed. (1971). Constraints on the economic development of Zambia. Nairobi: Oxford University Press, p. 122.

37. Bostock, M. and Harvey, C. eds (1972). Economic independence and Zambian copper: A case study of foreign investment. New York: Praeger.

38. Collier, P. (2010). The plundered planet. London: Allen Lane, p. 93.39. Bwalya, S. M. (2006). ‘Foreign direct investment and technology spillovers:

Evidence from panel data analysis of manufacturing firms in Zambia’. Journal of Development Economics, 81 (2), 514– 526. De Long, J. B. and Summers, L. H. (1991). ‘Equipment investment and economic growth’. The Quarterly Journal of Economics, 106 (2), 445– 502. Aitken, B., Hanson, G. H. and Harrison, A. E. (1997). ‘Spillovers, foreign investment, and export behavior’. Journal of International Economics, 43 (1), 103– 132.

40. World Bank, World Development Indicators, Zambia: Foreign direct investment – net inflows ( balance- of- payments, current US$). Available at: http://databank.worldbank.org/ [accessed 11 December 2013]. USD deflator calculated from Bloomberg Finance L.P.

41. Bates, R. H. (1981). Markets and states in tropical Africa: The political basis of agricultural policies. Berkeley: University of California Press.

42. Ibid.43. Lipton, M. (1977). Why poor people stay poor: A study of urban bias in world

development. London: Temple Smith.44. Young, C. E. (1971). ‘ Rural– urban terms of trade’. African Social Research, 12,

91– 94. Maimbo, F. J. and Fry, J. (1971). ‘An investigation into the change in the terms of trade between the rural and urban sectors of Zambia’. African Social Research, 12, 95– 110. Markakis, J. and Curry Jr, R. (1976). ‘The global economy’s impact on recent budgetary politics in Zambia’. Journal of African Studies, 3 (4), 1976– 1977.

45. Colclough, C. (1989). The labour market and economic stabilisation in Zambia. Washington DC: World Bank, pp. 33– 34. Jolly, R. (1971). ‘The skilled manpower constraint’. Constraints on the economic development of Zambia, Oxford p. 21.

46. Elliott, C. ed. (1971). Constraints on the economic development of Zambia. Nairobi: Oxford University Press, p. 399.

47. Interview with Charles Elliot, former head of the Department of Economics at University of Zambia, Cambridge, UK, 19 April 2012.

Notes 199

48. Potts, D. (1995). ‘Shall we go home? Increasing urban poverty in African cities and migration processes’. Geographical Journal, 245–264.

49. Van de Walle, N. (2001). African economies and the politics of permanent crisis, 1979–1999. Cambridge: Cambridge University Press, p. 25.

50. Ibid., p. 49.51. Cunningham, S. (1981). The copper industry in Zambia: Foreign mining compa-

nies in a developing country. New York: Praeger.52. Aron, J. and Elbadawi, I. (1992). Parallel markets, the foreign exchange auction,

and exchange rate unification in Zambia. Washington DC: World Bank. Kayizzi-Mugerwa, S. (1991). ‘External shocks and adjustment in a mineral dependent economy: A short-run model for Zambia’. World Development, 19 (7), 851–865.

53. Mujumdar, N., A. (1968). The new economic policy. In: Fortman, B. D. G. ed. (1969). After Mulungushi: The economics of Zambian humanism. Nairobi: East African Publishing House, p. 162.

54. Harvey, C. (1973). ‘The control of credit in Zambia’. Journal of Modern African Studies, 11 (3), 383–392.

55. Brownbridge, M. (1996). Financial policies and the banking system in Zambia. Brighton: Institute of Development Studies.

56. Sardanis, A. (2003). Africa: Another side of the coin: Northern Rhodesia’s final years and Zambia’s nationhood. London: I. B. Tauris, pp. 246, 271–273.

57. Zambian Anglo American Limited, Statement by the Chairman, 10 December 1969. Published in several newspapers including The Guardian, Display ad 14, p. 14.

58. Fosu, A. and Drine, I. eds (2013).‘Special issue: Institutions and African economies’. Journal of African Economies, 22 (4), 491–650.

59. Fosu, A. K. (2013). ‘Institutions and African economies: An overview’. Journal of African Economies, 22 (4), 491–498, 491.

60. Bates, R. H., Block, S. A., Fayad, G. and Hoeffler, A. (2013). ‘The new institu-tionalism and Africa’. Journal of African Economies, 22 (4), 499–522, 513.

61. Rodrik, D., Subramanian, A. and Trebbi, F. (2004). ‘Institutions rule: The primacy of institutions over geography and integration in economic devel-opment’. Journal of Economic Growth, 9 (2), 131–165.

62. du Plessis, S. and du Plessis, S. (2006). ‘Explanations for Zambia’s economic decline’, Development Southern Africa, 23 (3), 351–369. Du Plessis and du Plessis use Christopher Clague et al.’s concept of ‘contract-intensive money’ as a measure of the enforceability of contracts though citizens’ use of finan-cial assets that rely more heavily on the respect for contracts and the enforce-ment of property rights. Clague, C., Keefer, P., Knack, S. and Olson, M. (1999). ‘Contract-intensive money: Contract enforcement, property rights, and eco-nomic performance’. Journal of Economic Growth, 4 (2), 185–211.

63. Coase, R. H. (1937). ‘The nature of the firm’. Economica, 4 (16), 386–405. North, D. C. (1973). The rise of the western world: A new economic history. Cambridge: Cambridge University Press. North, D. C. (1981). Structure and change in economic history. New York: Norton. North, D. C. (1990). Institutions, institutional change, and economic performance. New York: Cambridge University Press. North, D. C. and Weingast, B. R. (1989). ‘Constitutions and commit-ment: The evolution of institutions governing public choice in seventeenth-century England’. The Journal of Economic History, 49 (04), 803–832.

200 Notes

64. North, D. C. and Weingast, B. R. (1989). ‘Constitutions and commitment: The evolution of institutions governing public choice in seventeenth- century England’. The Journal of Economic History, 49 (04), 803.

65. Ibid., p. 831.66. Ibid., pp. 805–806.67. Asiedu, E. (2006). ‘Foreign direct investment in Africa: The role of natural

resources, market size, government policy, institutions and political instability’, The World Economy, 29 (1), 74. Asiedu, E. (2003). ‘Debt relief and institutional reform: A focus on heavily indebted poor countries’. The Quarterly Review of Economics and Finance, 43 (4), 614–626, 620.


69. Acemoglu, D., Johnson, S. and Robinson, J. (2000). The colonial origins of comparative development: An empirical investigation, No. w7771, National Bureau of Economic Research.

70. Boettke, P., Coyne, C. and Leeson, P. (2008). ‘Institutional stickiness and the new development economics’, American Journal of Economics and Sociology, 67 (2), 331–358, 332.

71. Ibid., p. 332.72. Acemoglu, D. and Robinson, J. (2012). Why nations fail: The origins of power,

prosperity, and poverty. London: Profile Books.73. Robinson, J. (2013). Why Regions Fail: The Mexican Case, Harvard University

Case Study. Available at: http://scholar.harvard.edu/files/ jrobinson/files/why_regions_fail.docx [accessed 13 January 2014].

74. Amundsen, I. (2014). ‘Drowning in oil: Angola’s institutions and the “resource curse”’. Comparative Politics, 46 (2), 169–189, 171.

75. Ibid., p. 175.76. Ibid., p. 171.77. Coffman, D., Leonard, A. and Neal, L. eds (2013). Questioning credible com-

mitment: Perspectives on the rise of financial capitalism. Cambridge: Cambridge University Press.

78. Austin, G. (2008). ‘The “reversal of fortune” thesis and the compression of history: perspectives from African and comparative economic history’. Journal of International Development, 20 (8), 996—1027.

79. Hall, R. (1969). The high price of principles: Kaunda and the white South. Boulder: Holmes and Meier. Martin, A. (1972). Minding their own business: Zambia’s struggle against Western control. Harmondsworth: Penguin.

80. Molteno, R. and Tordoff, W. (1974). Independent Zambia: Achievements and prospects. In: Tordoff, W. ed. (1974). Politics in Zambia. Berkeley: University of California Press, 394.

81. Sutcliffe, R. B. (1967). ‘Zambia and the strains of UDI’, The World Today, 23 (12), 506–511. Larmer, M. ed. (2010). The Musakanya Papers: The Autobiography Writings of Valentine Musakanya. Lusaka: Lembani Trust, p. 38.

82. Collier, P. (2007). The Bottom Billion. Oxford: Oxford University Press, pp. 53–63.

83. Acemoglu, D. and Robinson, J. (2012). Why nations fail: The origins of power, prosperity, and poverty. London: Profile Books, 70–76.

84. Henisz, W. J. (2004). ‘Political institutions and policy volatility’. Economics & Politics, 16 (1), 1–27. Fosu, A. K. (2013). Growth of African

Notes 201

economies: Productivity, policy syndromes, and the importance of insti-tutions. WIDER Working Paper No. 2013/005, 491. Asiedu, E. (2006). ‘Foreign direct investment in Africa: The role of natural resources, market size, government policy, institutions and political instability’, The World Economy, 29 (1).

85. Brunetti, A. and Weder, B. (1998). ‘Investment and institutional uncertainty: A comparative study of different uncertainty measures’. Weltwirtschaftliches Archive, 134 (3), 513–533.

86. Ndulu, B. J. ed. (2008). The political economy of economic growth in Africa, 1960–2000, Vol. 2. Cambridge: Cambridge University Press, p. 272.

87. Dixit, A. K. (1994). Investment under uncertainty. Princeton: Princeton University Press.

88. Keynes, J. M. (2006). General theory of employment, interest and money. New Delhi: Atlantic Publishers, p. 195.

89. Brigham, E. F. and Ehrhardt, M. C. (1988). Financial management: Theory & practice. Stamford: Cengage Learning. Bostock, M. and Harvey, C. eds (1972). Economic independence and Zambian copper: A case study of foreign investment. New York: Praeger.

90. Erol, C. (1985). ‘An exploratory model of political risk assessment and the decision process of foreign direct investment’. International Studies of Management & Organization, 75–91.

91. Busse, M. and Hefeker, C. (2007). ‘Political risk, institutions and foreign direct investment’. European Journal of Political Economy, 23 (2), 397–415, 1.

92. Goodman, S. (1968). Investment policy in Zambia. In: Fortman, B. D. G. ed. (1969). After Mulungushi: The economics of Zambian humanism. Nairobi: East African Publishing House, 170–176.

93. Gordon, A. (1972). The prospects for new mine investment. In: Bostock, M., Harvey, C. eds (1972). Economic independence and Zambian copper: A case study of foreign investment. New York: Praeger, 204.

94. Ibid., p. 204.95. Saleh, J. (2004). Property rights institutions and investment. Vol. 3311.

Washington DC: World Bank, p. 7.96. Aron, J. (2000). ‘Growth and institutions: A review of the evidence’. The

World Bank Research Observer, 15 (1), 99–135, 128.97. North, D. C. and Weingast, B. R. (1989). Constitutions and commitment:

The evolution of institutions governing public choice in seventeenth- century England. The Journal of Economic History, 49 (04), 803–832, 808.

98. Faber, M. L. O. and Potter, J. G. (1971). Towards economic independence: Papers on the nationalization of the copper industry in Zambia. Cambridge: Cambridge University Press. Bostock, M. and Harvey, C. eds (1972). Economic independence and Zambian copper: A case study of foreign invest-ment. New York: Praeger, 207. Barry, F. (1991). ‘Terms of trade collapse and the growth of foreign debt: Zambia’s macroeconomic crisis, 1970–90’, Development Review 1991. Kildare: Trocaire.

99. Hotte, L., McFerrin, R. and Wills, D. (2011). On the Dual Nature of Weak Property Rights, No. 1103E, University of Ottawa. Goodman, S. (1968). Investment policy in Zambia. In: Fortman, B. D. G. ed. (1969). After Mulungushi: The economics of Zambian humanism. Nairobi: East African Publishing House, p. 176.

202 Notes

3 Control: Responsibility and Risk (1964–1970)

1. Copper wealth in Zambia, The Guardian, 6 March 1965, p. 1. 2. Copperbelt wage claim a dilemma for Zambia, The Guardian, 13 June 1966,

p. 1. Gupta, A. (1974). Trade unionism and politics on the Copperbelt. In: Tordoff, W. ed. (1974). Politics in Zambia. Berkeley: University of California Press, p. 288.

3. Minutes of UNIP National Council, April 1966, UNIP 1/1/6/77, Appendix D, p. 1, UNIP Archive, Lusaka.

4. Ibid. 5. Larmer, M. ed. (2010). The Musakanya papers: The autobiography writings of

valentine Musakanya. Lusaka: Lembani Trust, p. 105. 6. Tordoff, W. ed. (1980). Administration in Zambia. Manchester: Manchester

University Press, pp. 43, 21. Larmer, M. ed. (2010). The Musakanya papers: The autobiography writings of valentine Musakanya. Lusaka: Lembani Trust, p. 105.

7. Valentine Musakanya in: Larmer, M. ed. (2010). The Musakanya papers: The autobiography writings of valentine Musakanya. Lusaka: Lembani Trust, p. 43.

8. Burawoy, M. (1972). The colour of class on the copper mines, from African advancement to Zambianization (vol. 7). Manchester University Press [for] the Institute for African Studies, University of Zambia, p. 28.

9. Ibid., p. 28.10. Ibid., p. 47.11. Mwanakatwe, J. M. (2003). John M. Mwanakatwe: Teacher, politician, lawyer:

My autobiography. Lusaka: Bookworld, pp. 172– 174.12. Ibid., pp. 172– 175.13. Posner, D. N. (2005). Institutions and ethnic politics in Africa. Cambridge:

Cambridge University Press, p. 91.14. Hall, R. (1969). The high price of principles: Kaunda and the white South.

Boulder: Holmes and Meier, p. 191.15. Kaunda seeks merger with Opposition, The Guardian, 7 November 1969, p. 3.16. Minutes of the Extra- Ordinary Council held at Mulungushi, Kabwe, From

8th to 10th November 1968, 8 November 1968, p. 1, UNIP 1/1/16/141, UNIP Archive, Lusaka.

17. Ibid.18. Dr Kaunda tries to calm his angry party men, The Guardian, 31 August

1967, p. 8.19. Larmer, M. (2006). ‘A little bit like a volcano – The united progressive party

and resistance to one- party rule in Zambia, 1964– 1980’. The International Journal of African Historical Studies, 39 (1), 49– 83, 56.

20. Johns, S. (1980). The parastatal sector. In: Tordoff, W. ed. (1980). Tordoff, W. ed. (1980). Administration in Zambia. Manchester: Manchester University Press, p. 124.


22. Letter from Sardanis to Kaunda, Urgent need for fundamental rethinking, 10 April 1970, HM84/INDECO/1/70/9, p. 4, National Archive, Lusaka.

23. UNIP’s boldest plan – ‘instant’ law changes, Times of Zambia, 6 February 1969, p. 1.

Notes 203

24. Speech given by Kaunda to protesters, 17 July 1969, 84/PP/3/69/1, National Archive, Lusaka.

25. The following day Kaunda wrote a personal letter to Sardanis thanking him for his help in safely arranging Skinner’s departure. Letter from Kaunda to Sardanis, marked ‘personal’, 18 July 1969, 84/PP/1/69/1, National Archive, Lusaka.

26. Another judge leaves Zambia, The Guardian, 26 July 1969, p. 3.27. Letter from Skinner to Kaunda, 84/PP/1/69/1, National Archive, Lusaka.28. Kaunda admits his errors in courts crisis, The Guardian, 28 July 1969, p. 1.29. Chief Justice resigns, The Guardian, 24 September 1969, p. 2. Neither Skinner

nor Evans returned to the Zambian Judiciary. Skinner took up the position of Chief Justice in Malawi.

30. Zambia deports a QC, The Guardian, 12 July 1969, p. 1.31. Speech given by Kaunda to protesters, 17 July 1969, 84/PP/3/69/1, National

Archive, Lusaka.32. Letter from Kaunda to Andrew Sardanis appointing him as chairman and

CEO of INDECO from the 1 June, 29 May 1965, 84/INDECO/1/65/10, National Archive, Lusaka.

33. Johns, S. (1980). The parastatal sector. In: Tordoff, W. ed. (1980). Administration in Zambia. Manchester: Manchester University Press, p. 106.

34. Larmer, M. ed. (2010). The Musakanya papers: The autobiography writings of valentine Musakanya. Lusaka: Lembani Trust.

35. Letter from Sardanis to Kaunda reiterating the need to enter partnerships with a profit motive, 19 August 1965, 84/INDECO/1/65/64, National Archive, Lusaka.

36. Letter from Sardanis to staff explaining reasons for the low value of Zambian stocks and the need to hire public relations for which Kaunda is supportive, 2 July 1965, 84/INDECO/1/65/23, National Archive, Lusaka.

37. List of investment interests written by Sardanis, 8 July 1965, 84/INDECO/1/65/30. National Archive, Lusaka. Letter from Sardanis to Kaunda about interest from Japan, 28 July 1965, 84/INDECO/1/65/48. National Archive, Lusaka.

38. United Nations, Parliamentary Report by Edward W Espenhahn, United Nations Industrial Advisor, to the Chairman and MD of the INDECO pre-pared, 17 December 1965, 84/INDECO/1/65/124, National Archive, Lusaka, p. 11.

39. Letter from Sardanis to Kaunda informing him of INDECO’s results, 8 June 1967, 84/INDECO/1/67/13, National Archive, Lusaka.

40. Zambian Copper Firm to Spend £20M, The Times, 18 November 1965, p. 18.41. Kaunda makes ‘no nationalisation’ statement reassuring share investors, The

Times, 6 December 1966, p. 19. Zambian Copper Firms to Boost Capacity; 2 Major Producers to Spend $87 Million, Wall Street Journal, 24 August 1967.


43. Andrew Sardanis, former CEO of INDECO, email correspondence with Stuart Barton, 29 September 2013, 1 and 3 October 2013, 19 January 2014.

44. Johns, S. (1980) The parastatal sector. In: Tordoff, W. ed. (1980). Administration in Zambia. Manchester: Manchester University Press, p. 109.

204 Notes

45. Letter from Kaunda to Minister of Commerce and Industry, INDECO’s policy on making loans only to large companies, 11 February 1966, 84/INDECO/1/66/4, National Archive, Lusaka. Also a later letter from the Cabinet Office to Sardanis expressing disappointment that several UNIP leaders had not received their loans, 18 February 1970, HM84/INDECO/1/70/4, National Archive, Lusaka.

46. Letter from Sardanis to Kaunda on the dangers of not recovering bad loans on the credit worthiness of Zambia, 1965, 84/INDECO/1/65/97, National Archive, Lusaka.

47. Letter from Kaunda to Minister of Agriculture, Commerce, and Industry instructing him to give loans to co- ops rather than individuals, 10 November 1965, 84/INDECO/1/65/111, National Archive, Lusaka.

48. Minutes of UNIP National Council, 11 December 1965, UNIP 1/1/1, UNIP Archive, Lusaka. Letter from Lever Brothers to GRZ, 10 November 1965, 84/INDECO/1/65/78, National Archive, Lusaka.

49. GRZ, Minutes of Meeting held to discuss formation of National Development Corporation, 12 April 1967, HM84/INDECO/2/67/1, National Archive, Lusaka.

50. Letter from Kaunda to Sardanis accepting his opposition to the move of INDECO to the Ministry of Commerce, 23 March 1966, 84/INDECO/1/66/10, National Archive, Lusaka.

51. The Mulungushi Reforms are named after Mulungushi Rock, the location near Kabwe where the UNIP held its National Council meeting. Speech by Kaunda to the UNIP National Council, Zambia’s economic revolution, 19 April 1968, Mulungushi, Lusaka: Zambia Information Services. Mr Kaunda tries to stop Zambia being ‘milked’, The Guardian, 20 April 1968.

52. Ibid., p. 60.53. Ibid., p. 68.54. Dr Kaunda keeps his hands off copper, The Guardian, 2 May 1968. Martin, A.

(1972). Minding their own business: Zambia’s struggle against Western control. Harmondsworth: Penguin, pp. 76– 78.

55. Speech by Kaunda to the UNIP National Council, Zambia’s economic revolution, 19 April 1968, Mulungushi, Lusaka: Zambia Information Services, p. 69.

56. Mining shares hit by curb, The Guardian, 20 April 1968, p. 7.57. Dr Kaunda keeps his hands off copper, The Guardian, 2 May 1968. Bonds

Firm on Frankfurt Bourse, The Times, 6 December 1966, p. 19.58. Big Board Bans Credit For Five More Issuers, The Wall Street Journal, 16

September 1968, p. 3.59. Fortman, B. D. G. ed. (1969). After Mulungushi: The economics of Zambian

humanism. Nairobi: East African Publishing House.60. Fortman, B. D. G. (1968). Humanism and the Zambian economic order. In:

Fortman, B. D. G. ed. (1969). After Mulungushi: The economics of Zambian humanism. Nairobi: East African Publishing House, pp. 105– 106.

61. Martin, A. (1972). Minding their own business: Zambia’s struggle against Western control. Harmondsworth: Penguin, 59.

62. Williams, M. (1973). ‘State participation and the Zambian economy’. World Development, 1 (10), 43– 53, p. 52.

Notes 205

63. Larmer, M. (2010). Zambia’s Mining Booms and Busts. In: Fraser, A., Larmer, M. eds (2010). Zambia, Mining, and Neoliberalism: Boom and Bust on the Globalized Copperbelt. New York: Palgrave Macmillan, p. 37. Future of copper in Zambia, The Guardian, 12 December 1964, p. 11.

64. Speech by Kaunda to the UNIP National Council, Zambia’s economic revo-lution, 19 April 1968, Mulungushi, Lusaka: Zambia Information Services, pp. 53– 54.

65. Letters from Indian storeowners, April and May 1969, UNIP 7/1/3, UNIP Archive, Lusaka.


67. Macmillan, H. (2008). ‘The devil you know’: The impact of the Mulungushi economic reforms on retail trade in rural Zambia, with special reference to Susman Brothers & Wulfsohn, 1968– 80. In: Gewald, J. B., Hinfelaar, M. and Macola, G. eds (2008). One Zambia, many histories: Towards a history of post- colonial Zambia (vol. 12). Leiden: Brill, p. 198.

68. Letter from Mainza Chona, UNIP National Secretary, to Justin Chimba, Minister of Commerce, question over who is included in the new law. 27 August 1968, UNIP 7/1/3, UNIP Archive, Lusaka.

69. Asians defy shops decree in Zambia, The Guardian, 3 January 1969, p. 2.70. Collection of letters from Indian storeowners questioning why their

Zambian buyers’ applications have still not been accepted months after the application was filed, April and May 1969, UNIP 7/1/3, UNIP Archive, Lusaka.

71. Ibid.72. No reprieves for foreign traders, Times of Zambia, 4 January 1969, p. 1.73. Ibid., p. 1.74. Asians on one- way tickets. Closures hit 6,000 Zambians, Times of Zambia,

9 January 1969, p. 1.75. Shops open their doors as trading turmoil eases, Times of Zambia, 10 January

1969, p. 1.76. Letter from Kaunda to Sardanis, marked ‘Private’, 9 October 1968, HM84/

INDECO/1/68/9, National Archive, Lusaka.77. INDECO, Minutes of Board meeting, 12 September 1968, ZIMCO 1/2/55,

National Archive, Lusaka, p. 4.78. One- party shops in Zambia, The Guardian, 28 January 1969.79. Letter from Minister Chona to KK complaining about how a senior

UNIP official has taken over Indian shop in Monza, 5 July 1969, HM84/INDECO/1/69/6, National Archive, Lusaka.

80. Prices rocket as potato ‘famine’ hits the capital’s shops, Times of Zambia, 9 December 1968, p. 7.

81. Martin, A. (1972). Minding their own business: Zambia’s struggle against Western control. Harmondsworth: Penguin, p. 119

82. The foundations of wealth, The Guardian, 17 March 1969, p. 12.83. Ibid., p. 12.84. Kaunda says what lies ahead, Times of Zambia, 24 December 1968, p. 1.85. UNIP, Letter from constituency publicity secretary to national secretary,

29 December 1968. UNIP 1/1/12/51, UNIP Archive, Lusaka, p. 2.

206 Notes

86. Ibid, p. 1. 87. Letter from UNIP National Headquarters to Tenants of Faria Emmasdale

Flats, 21 January 1969, UNIP 1/1/12/63, UNIP Archive, Lusaka. Letter from Mainza Chona, UNIP National Secretary to all Regional Secretaries, 1969 Membership Cards, 29 August 1969, UNIP 1/1/12/68, UNIP Archive, Lusaka.

88. UNIP’s boldest plan – ‘instant’ law changes, Times of Zambia, 6 February 1969, p. 1.

89. Why we are voting, by Kaunda, Times of Zambia, 13 June 1969, p. 1. 90. Opinion, Times of Zambia, 6 February1969, p. 1. 91. Victory for Kaunda in Zambian referendum, The Guardian, 20 June

1969, p. 2. 92. No nationalisation of Zambia’s copper, The Guardian, 13 December

1968, p. 11. 93. No nationalisation of Zambia’s copper, The Guardian, 13 December

1968, p. 11. 94. Zambian Anglo American, Announcement to Shareholders, 18 December

1968. Published in several newspapers including The Guardian, Display ad 6. 95. Roan Selection Dividend Wins Approval by Zambia, The Wall Street Journal,

20 December 1968, p. 20. 96. Anglo warning on dividend curbs, Times of Zambia, 18 December 1968, p. 9. 97. Ibid. 98. Zambian Anglo American, Announcement to Shareholders, 18 December

1968. Published in several newspapers including The Guardian, Display ad 6. 99. Ibid.100. INDECO records of the mine takeover, ZIMCO 1/1/14, National Archive,

Lusaka. Box named ‘INDECO mines takeover’ was found missing in ZIMCO collection at the National Archive. Subsequent investigation has not been able to locate it.

101. Zambia Seeks 51% Of That Nation’s 2 Copper Firms, The Wall Street Journal, 12 August 1969, p. 2.

102. Andrew Sardanis, former CEO of INDECO, email correspondence with Stuart Barton, 29 September 2013, 1 and 3 October 2013, 19 January 2014. Sardanis, A. (2003). Africa: Another side of the coin: Northern Rhodesia’s final years and Zambia’s nationhood. London: I. B. Tauris, p. 232. Martin, A. (1972). Minding their own business: Zambia’s struggle against Western control. Harmondsworth: Penguin, p. 163.

103. In Zambian Hands, The Times, 12 August 1969, p. 7.104. Letter from Kaunda to the Central Committee and Members of Parliament,

marked ‘Confidential’, 14 August 1969, UNIP 7/1/2, UNIP Archive, Lusaka.105. Ibid., p. 1.106. In Zambian Hands, The Times, 12 August 1969, p. 7.107. Hall, R. (1969). The high price of principles: Kaunda and the white South.

Boulder: Holmes and Meier.108. Scott, I. (1978). ‘Middle class politics in Zambia’. African Affairs, 77 (308),

321– 334, 326.109. Letter from Kaunda to the Central Committee and Members of Parliament,

marked ‘Confidential’, 14 August 1969, UNIP 7/1/2, UNIP Archive, Lusaka, p. 2.

Notes 207

110. Kaunda takes control to ‘unite’ Zambia, The Guardian, 26 August 1969, p. 1.111. Tordoff, W. ed. (1974). Politics in Zambia. Berkeley: University of California

Press, p. 306.112. Letter from Secretary General to the Government describing Kapwepwe’s

resignation, 20 October 1971, UNIP 7/2/24/124, UNIP Archive, Lusaka.113. Letter to Kaunda from Alexander Chikwanda, Minister of Planning and

Finance, Imperialist Reactions to our Reforms and what Reform means to Zambia, 14/8/1969, UNIP 7/19/2, p. 5.

114. Annan, K. A. (1972). International joint venture with a government partner case study: copper mining in Zambia. Unpublished Master’s Thesis, Sloan Business School, MIT. Available at: http://dspace.mit.edu/ handle/1721.1/14100 [accessed 11 May 2013], p. 89, 90. Southall, T. (1980). ‘Zambia: Class formation and government policy in the 1970s’. Journal of Southern African Studies, 7 (1), 91– 108, p. 97.

115. Libby, R. T. and Woakes, M. E. (1980). ‘Nationalization and the displace-ment of development policy in Zambia’. African Studies Review, 23 (1), 33– 50, 33.

116. Zambia move holds no fears for RST, The Guardian, 14 August 1969, p. 12.117. Letter from Anglo to GRZ, Outline of proposals submitted to government

for achievement of 51 per cent by Anglo, 28 September 1969, HM84/INDECO/5/69/1, National Archive, Lusaka. Letter from Roan Selection Trust Chairman Vuillequez to Ministry of State Participation, including a draft Heads of Agreement in response to the President’s invitation to sell 51 per cent, 25 September 1969, HM84/INDECO/5/69/2, National Archive, Lusaka.

118. INDECO, Mining Proposals: Minutes of Meetings 1– 9 held between the 29th September and 18th October 1969 – marked ‘Secret’, HM84/INDECO/2/69/1, National Archive, Lusaka.

119. Ibid.120. Ibid.121. Ibid.122. Ibid.123. Ibid.124. Roan Selection Trust, Heads of Agreement, draft, 24 December 1969,

HM84/INDECO/5/69/2, National Archive, Lusaka.125. Ibid.126. Zambia gets its stake in mining, The Guardian, 30 January 1970, p. 13.127. Copper agreement, The Guardian, 20 October 1969, p. 3.128. Roan Selection Trust, Heads of Agreement, draft, 24 December 1969,

HM84/INDECO/5/69/2, Point (v), National Archive, Lusaka,129. Ibid., Point (ix).130. Ibid., Point (xi).131. Master Agreement, 1969 takeovers, 24 December 1969, quoted in: Bostock,

M. and Harvey, C. eds (1972). Economic independence and Zambian copper: A case study of foreign investment. New York: Praeger, p. 238.

132. Zambian Anglo American Limited, Statement by the Chairman, 10 December 1969. Published in several newspapers including The Guardian, Display ad 14. Innes, D. (1984). Anglo American and the rise of modern South Africa. New York: Monthly Review Press, p. 235.

208 Notes

133. Copper firm to move, The Guardian, 10 December 1969, p. 14. According to the World Bank total inward investment between 1970 and 1979 amounted to just USD 302.7 million compared with the more than USD 350 million disinvested by Anglo in 1970. Inward foreign investment from World Bank, World Development Indicators, Zambia: Foreign direct investment – net inflows ( Balance- of- payments, USD). Available at: http://databank.worldbank.org/ [accessed 11 December 2013].

134. On day seven of the meetings Kasonde asked where the new holdings would be registered, and Relly indicated Bermuda but stated that no final decision had been made. According to the minutes of the meeting the dis-cussion ended there. INDECO, Mining Proposals: Minutes of Meetings 1– 9 held between the 29th September and 18th October 1969 – marked ‘Secret’, HM84/INDECO/2/69/1, National Archive, Lusaka.


136. Zambian Anglo American Limited, Statement by the Chairman, 10 December 1969. Published in several newspapers including The Guardian, Display ad 14.

137. Zambian Anglo American Limited, Announcement to Shareholders, New York Times, ad 89, 23 September 1971, p. 103.

138. Innes, D. (1984). Anglo American and the rise of modern South Africa (pp. 48– 71). New York, NY: Monthly Review Press, p. 236.

139. Interview with former financial controller, LONRHO, Nottingham Road, 17 July 2012.

140. Ibid.141. Letter from Sardanis to Kaunda, Steps Needed, 10 April 1970. HM84/

INDECO/1/70/9, p. 2. National Archive, Lusaka.142. Letter from Sardanis to Kaunda, Response to copper price warning, 30 July

1970, HM84/INDECO/1/70/22, National Archive, Lusaka, p. 1.143. Ibid., p. 1.144. De Vries, M. G. ed. (1976). The International Monetary Fund, 1966– 1971: The

system under stress (Vol. 2). Washington, D. C: IMF, p. 265.145. Copper prices from Bloomberg Finance L.P. NEWS OF COMMODITIES:

Wars, Boom and Politics Fuel the Copper Market Shishko, Irwin Barron’s National Business and Financial Weekly, 8 September 1969. pp. 49 and 36.

146. Kaunda wants bigger effort by Zambians, The Guardian, 15 December 1969, p. 3.

147. Interest and capital repayments on USD 298 million of 6 per cent bonds paid over 8 and 12 years = approximately USD 48 million per year, or USD 18 million in interests + USD 30 million in capital repayments.

148. North, D. C. (1991). ‘Institutions’. Journal of Economic Perspectives, 5 (1), 97– 112, p. 97.

149. Rasmussen, T. (1969). ‘Political competition and one- party domination in Zambia’. Journal of Modern African Studies. 7 (3), 407– 424. Macola, G. (2008). Harry Mwaanga Nkumbula, UNIP and the roots of authoritarianism in nationalist Zambia. In: Gewald, J. B., Hinfelaar, M. and Macola, G. eds (2008). One Zambia, many histories: Towards a history of post- colonial Zambia (vol. 12). Leiden: Brill, p. 17. Acemoglu, D. and Robinson, J. (2012). Why

Notes 209

nations fail: The origins of power, prosperity, and poverty. London: Profile Books, pp. 70– 6.


151. Ibid, p. 10.152. White miners leave, The Guardian, 11 December 1969, p. 1.153. Seers, D. (1964). Economic Survey Mission on the Economic Development

of Zambia, Report of the UN/ECA/FAO. Ndola: Falcon Press.154. Tordoff, W. ed. (1974). Politics in Zambia. Berkeley: University of California

Press, p. 380.155. Rasmussen, T. (1969). The Myth of Democracy, Times of Zambia, 30 January

1969, p. 6.156. Lentin, A. (1985). Enlightened Absolutism, 1760– 1790: A Documentary

Sourcebook. Newcastle- upon- Tyne: Avero.157. Mwanakatwe, J. M. (2003). John M. Mwanakatwe: Teacher, politician, lawyer:

My autobiography. Lusaka: Bookworld, p. 216.158. Barber, J. D. (1992). The presidential character, 4th ed. Englewood Cliffs:

Prentice- Hall, pp. 141– 160.159. Ibid., p. 9.160. Zambia Sends Soldiers To Copper Companies In Take- Over Demand, The

Wall Street Journal, 13 August 1969, p. 8.161. Zambian Negotiations On Copper Take- Over To Open on Thursday, The

Wall Street Journal, 26 August 1969, p. 21.162. Asiedu, E. (2006). Foreign direct investment in Africa: The role of

natural resources, market size, government policy, institutions and political instability, The World Economy 29 (1), 74. Goodman, S. (1968). Investment policy in Zambia. In: Fortman, B. D. G. ed. (1969). After Mulungushi: The economics of Zambian humanism. Nairobi: East African Publishing House, p. 176.


164. Rakner, L. (2003). Political and economic liberalisation in Zambia: 1991– 2001. Stockholm: Nordic Africa Institute, p. 188.

4 Exclusion: Centralisation and Contraction (1970–1974)

1. Copper prices from Bloomberg Finance L.P. GDP data from World Bank, World Development Indicators, Zambia: Gross Domestic Product (Current US$). Available at: http://databank.worldbank.org/ [accessed 23 January 2014].

2. Some good examples: Letter from Sardanis to Kaunda, Doubled investments and quad profits, 8 June 1967, 84/INDECO/1/67/13, National Archive, Lusaka. Minutes of INDECO’s board meetings, 6 June 1968, ZIMCO 1/2/49, National Archive, Lusaka. Mwanakatwe, J. M. (2003). John M. Mwanakatwe: Teacher, Politician, Lawyer: My Autobiography. Lusaka: Bookworld, p. 213.

3. Letter Sardanis to Kaunda entitled ‘State enterprise’, 10 June 1968, HM84/INDECO/3/70/1, National Archive, Lusaka.

210 Notes

4. Letter from Sardanis to Kaunda, Steps Needed, 10 April 1970, HM84/INDECO/1/70/9, National Archive, Lusaka, p. 2.

5. Ibid. 6. Bank warned by Zambia, The Guardian, 15 January 1970, p. 20. 7. Zambia may take over bank, The Guardian, 1 May 1970. 8. Speech by Kaunda on the occasion of the closing of the United National

Independence Party National Council, Mulungushi Hall, Lusaka, 10 November 1970, UNIP 1/1/16/2, UNIP Archive, Lusaka.

9. Ibid., p. 3.10. Ibid., p. 4.11. Ibid., p. 6.12. Ibid., pp. 9 and 10.13. Ibid., p. 10.14. Kaunda takes control of four banks, The Guardian, 11 November 1970, p. 14.15. Letter from Sardanis to Kaunda, Proposed Structure, 12 November 1970,

HM84/INDECO/1/70/29, National Archive, Lusaka.16. Brownbridge, M. (1996). Financial policies and the banking system in Zambia.

Brighton: Institute of Development Studies, p. 4. Johns, S. (1980). The parastatal sector. In: Tordoff, W. ed. (1980). Administration in Zambia. Manchester: Manchester University Press, pp. 113– 4.

17. Bank shells out K6 million ‘rescues’ COZ, Times of Zambia, 23 June 1969, p. 1.18. Harvey, C. (1993). The role of commercial banking in recovery from economic

disaster in Ghana, Tanzania, Uganda and Zambia. Institute of Development Studies, p. 7.

19. Letter from Mwanakatwe, Finance Minister to the Secretary General of UNIP entitled ‘Nationalisation of Commercial banks – 1970’, 23 July 1976, UNIP 7/5/13/4, UNIP National Archive, Lusaka.

20. Brownbridge, M. (1996). Financial policies and the banking system in Zambia. Brighton: Institute of Development Studies, p. 21.

21. Cabinet Office to Sardanis, List of 13 UNIP leaders whom the President has considered worthy of a loan, 18 February 1970, HM84/INDECO/1/70/4, National Archive, Lusaka.

22. Ibid.23. Cabinet Office to Sardanis, Loans to UNIP leaders from INDECO, 27 February

1970, HM84/INDECO/1/70/4, National Archive, Lusaka.24. Cabinet minister Makasa to INDECO, 13 loans to UNIP officials have been

approved by Kaunda, 12 August 1970, HM84/INDECO/1/70/23, National Archive, Lusaka.

25. Letter from Mr FTA Manning to Sardanis, marked ‘Confidential’, Why a series of ‘Loans for Party Leaders’ have been rejected on their commercial basis, 13 November 1970, HM84/INDECO/1/70, National Archive, Lusaka.

26. Letter from Sardanis to Kaunda, Offer of Resignation, 1 June 1970, HM84/INDECO/3/70/18, National Archive, Lusaka.

27. Ibid.28. Letter from Sardanis to Kaunda, State enterprise and government meddling,

1970, HM84/INDECO/3/70/1, National Archive, Lusaka, p. 7.29. Letter from Sardanis to Kaunda, The Zambian economy, 1970, HM84/

INDECO/3/70/2, National Archive, Lusaka, p. 2. Letter from Sardanis to

Notes 211

Kaunda, On State Capitalism, June 1970, HM84/INDECO/1/70/17, National Archive, Lusaka.

30. Ibid., p. 4.31. Zambia delays maize exports, The Guardian, 1 May 1969.32. Zambia appeals for 700 trucks, The Guardian, 27 March 1971, p. 2. Zambia

may seek airlift, The Guardian, 7 April 1971, p. 2. Maize arrives for Zambia, The Guardian, 12 April 1971, p. 2. S. Africa helps out Zambia, The Guardian, 22 May 1971, p. 3.

33. Letter from Sardanis to Kaunda, Steps Needed, 10 April 1970, HM84/INDECO/1/70/9, National Archive, Lusaka, p. 2.

34. Letter from Sardanis to Kaunda, The Zambian economy, 1970, HM84/INDECO/3/70/2, National Archive, Lusaka, p. 4.

35. Letter from Kaunda to Sardanis, Local products are facing stiff competition, 15 March 1971, HM84/INDECO/1/71/15, National Archive, Lusaka.


37. Kaunda, Circular on mud- slinging in parliament, 20 February 1970, UNIP 8/1/8/4, UNIP Archive, Lusaka, p. 3.

38. Letter from Kaunda on need for uniformity in public statements. 25 February 1970, UNIP 8/1/8/5, UNIP Archive, Lusaka.

39. UNIP, Leadership Code, undated, UNIP 8/1/6/1, UNIP Archive, Lusaka. Letter from UNIP Secretary General to wide distribution list, marked ‘Confidential’, UNIP’s disciplinary ladder: enforcement machinery, 25 February 1970, UNIP 8/1/8/3, UNIP Archive, Lusaka.

40. UNIP Win!, The Guardian, 29 August 1970, p. 2.41. Szeftel, M. (1982). ‘Political graft and the spoils system in Zambia – The state

as a resource in itself’. Review of African Political Economy, 9 (24), 4– 21. Ban on Zambian party, The Guardian, 13 February 1970, p. 4.

42. Can we rule together?, Zambia Daily Mail, 21 April 1971, p. 1.43. A report presented to the members of the interim executive committee by

his Excellency Dr K. D. Kaunda, President of the Republic of Zambia, April 1971, UNIP 8/1/9/4, UNIP Archive, Lusaka.

44. Ibid., p. 2.45. Ibid., p. 4.46. Challenge by Kapwepwe, The Guardian, 23 August 1971, p. 1.47. Kaunda’s police arrest 100, The Guardian, 17 September 1971, p. 4. Kaunda

‘allowing UPP victimisation’, The Guardian, 8 September 1971, 8. UNIP zeal turns to violence, The Guardian, 23 November 1971, p. 4. Kapwepwe accuses police, The Guardian, 6 October 1971, p. 4. UNIP zeal turns to violence, The Guardian, 23 November 1971, p. 4.

48. Assembly expels six MPs, The Guardian, 24 November 1971, p. 3.49. Kaunda calls for snap poll, The Guardian, 25 November 1971, p. 5.50. Letter from Kaunda to Sardanis, 8 February 1971, HM84/INDECO/1/71/11,

National Archive, Lusaka.51. Kaunda unseats Zambia’s outspoken editor. The Guardian, 3 January

1972, p. 4.52. Journalist expelled, The Guardian, 15 June 1972, 4. Prohibited, The Guardian,

22 August 1972, p. 3.

212 Notes

53. Letter from Kaunda instructing all ministers to participate in humanist radio discussions, 21 July 1972, UNIP 7/1/12/25, UNIP Archive, Lusaka.

54. Kaunda is given press promise, The Guardian, 4 August 1972, p. 4.55. Kaunda bans UPP and has 123 arrested, The Guardian, 5 February 1972, 3.

UPP hunger strikers taken to hospital, The Guardian, 6 January 1972, p. 3.56. Zambia closes UPP firms, The Guardian, 15 February 1972, p. 4.57. Statement by his Excellency the President, Dr K.D. Kaunda, at the press

conference at State House announcing the appointment of a national Commission on the establishment of a one- party democracy in Zambia, 18 February 1972, UNIP 7/1/1/47, UNIP Archive, Lusaka.

58. The National Commission on the Establishment of a One- Party Participatory Democracy in Zambia [The Chona Commission Report], 15th October 1972, UNIP 45/7/1/11, UNIP Archive, Lusaka.

59. Speech by Kaunda to the National Council, The Machinery for Effective Participation, 5 June 1973, UNIP 1/26/ 307- 312, UNIP Archive, Lusaka.

60. Summary of recommendations accepted by government, Government Paper No. 1 of 1972, National Archive, Lusaka, pp. 4– 6.

61. UNIP, A Nation of Equals: The Kabwe Declaration: Addresses to the National Council of the United National Independence Party at the Hindu Hall, Kabwe, 1– 3 December 1972, UNIP 34/1/17/1, UNIP Archive, Lusaka, pp. 25– 30. Resolutions on a One- Party State, 2 December 1972, UNIP 1/1/17/60, UNIP Archive, Lusaka.

62. Speech by Kaunda, A Nation of Equals: The Kabwe Declaration: Addresses to the National Council of the United National Independence Party at the Hindu Hall, Kabwe, 1– 3 December 1972, UNIP 34/1/17/1, UNIP Archive, Lusaka.

63. Ibid., pp. 69, 77.64. Minutes of National Council Meeting, 1 December 1972, UNIP 1/1/17/15,

UNIP Archive, Lusaka, p. 15.65. Speech by Kaunda on the occasion of the signing of the bill establishing

a one party participatory democracy in Zambia, High Court, Lusaka, 13 December 1972, UNIP 7/1/12/2, UNIP Archive, Lusaka, p. 4.

66. GRZ, Constitution of the Republic of Zambia, Article 12 (5), 25 August 1973, Parliamentary Library, Lusaka.

67. Kapwepwe is free – but a marked man, The Guardian, 2 January 1973, p. 4.68. A permanent partnership with foreign investment, The Guardian, 29 March

1972, p. 17. Kaunda assurance on One- Party state, The Guardian, 10 July 1972, p. 4.

69. Inward foreign investment from World Bank, World Bank, World Development Indicators, Zambia: Foreign direct investment – net inflows (BoP, US$). Available at: http://databank.worldbank.org/ [accessed 11 December 2013]. Details of Anglo’s disinvestment are presented in Chapter Three.

70. Unsigned brief to Minister of Finance, July 1971, UNIP 7/5/7, UNIP Archive, Lusaka.

71. Ibid.72. Ibid.73. Larmer, M. ed. (2010). The Musakanya papers: The autobiography writings of

valentine Musakanya. Lusaka: Lembani Trust, p. 49.

Notes 213

74. Zambia curbs as copper declines, The Guardian, 6 December 1971, p. 4. Zambia bans Bentleys, The Guardian, 22 February 1972, p. 4. Zambia halts issue of import licences, The Guardian, 15 May 1972, p. 4.

75. Two major clothing factories in Ndola and Kitwe were forced to close after ministry of trade rejected their applications for permits to import cloth. Vital items banned in imports muddle, The Guardian, 9 June 1972, p. 4.

76. Zambian concern as reserves fall. The Guardian, 30 June 1972, p. 3. Larmer, M. ed. (2010). The Musakanya papers: The autobiography writings of valentine Musakanya. Lusaka: Lembani Trust, p. 49.

77. Governor removed, The Guardian, 27 June 1972, p. 7.78. Zambia tightens its belt, The Guardian, 27 January 1973, p. 2. Import restric-

tions, The Guardian, 9 February 1973, p.3.79. Speech by Kaunda to UNIP General Council, Revolution must continue,

24 August 1973, UNIP 7/19/4, UNIP Archive, Lusaka. Dr Kaunda sets new targets, The Guardian, 13 January 1972, p. 3.

80. Prime Minister Chona’s review of the SNDP, 25 April 1974, UNIP 1/26/ 269- 272, UNIP Archive, Lusaka.

81. Smith blockade with the hole in it, The Guardian, 10 January 1973, p. 1.82. Zambia retaliates as Smith closes border, The Guardian, 12 January 1973, p. 1.83. Contingency Planning Secretariat, Effect of Border Closure on Mining

Industry Costs and Capital Projects, Appendix VII, 19 March 1973, UNIP 7/2/25, UNIP Archive, Lusaka.

84. Ibid., p. 1.85. Zambia copper airlift, The Guardian, 19 January 1973, p. 4. Supplies flown to

Zambia, The Guardian, 23 January 1973, p. 3.86. Ibid., p. 3.87. Zambians saved by airlifts, The Guardian, 30 March 1973, p. 4.88. UNIP, International tour to raise funds, 26 March 1973, UNIP 7/2/26, UNIP

Archive, Lusaka. Zambia seeks UK transport aid, The Guardian, 2 February 1973, p. 4. Nations to aid Zambia, The Guardian, 20 February 1973, p. 1.

89. Special drawing rights (SDR) are foreign exchange reserves defined and maintained by the IMF. Not actually a currency, SDRs represent a claim on currency held by IMF member countries. Memorandum to the Minister of Planning and Finance, 11 December 1974, UNIP 8/3/12/22, UNIP Archive, Lusaka, p. 6.

90. Memorandum to the Minister of Planning and Finance, 11 December 1974, UNIP 8/3/12/22, UNIP Archive, Lusaka, p. 6. Zambia gets £4M gift from Peking, The Guardian, 28 May 1973, 3. Canada gives Zambia £3M aid, The Guardian, 20 March 1973, p. 3.

91. Memorandum to the Minister of Planning and Finance, 11 December 1974, UNIP 8/3/12/22, UNIP Archive, Lusaka, p. 4. Bonnick, G.G. (1997). Zambia country assistance review: Turning an economy around. Washington D. C.: World Bank.

92. Situmbeko, L. C. and Zulu, J. J. (2004). Zambia: Condemned to debt, how the IMF and World Bank have undermined development. London: World Development Movement, p. 7.

93. Ibid., p. 14.94. Ibid., p. 14.

214 Notes

95. Prices from Bloomberg Finance L.P. 96. Contingency Planning Secretariat, Information Paper, marked ‘Top Secret’,

Cabinet Office, 19 March 1973, UNIP 7/2/25, UNIP Archive, Lusaka, p. 1. 97. Letter to Kaunda from Vernon J. Mwaanga, Permanent Representative to

the United Nations. Undated although includes maize import numbers for 1970 and 1971, UNIP 7/23/28, UNIP Archive, Lusaka.

98. Nations to aid Zambia, The Guardian, 20 February 1973, p. 1. 99. Speech by Kaunda to the UNIP National Council, Mulungushi Hall,

20/4/1974, UNIP 1/1/22, also UNIP 8/3/20/48, 24/7/1974, UNIP Archive, Lusaka.

100. Canada gives Zambia £3M aid, The Guardian, 20 March 1973, p. 3. Two jobs for Dr Kaunda, The Guardian, 17 May 1973, p. 12. Tourist tells of shooting at the falls, The Guardian, 18 May 1973, p. 4.

101. Kaunda’s excuses anger Canada, The Guardian, 28 May 1973, p. 3.102. We’ve lost K174m on mines, Times of Zambia, 15 September 1973, p. 1.103. Sardanis claims the bonds were trading as low as 48% of face value in:

Sardanis, A. (2007). A venture in Africa: The challenges of African business. London: I.B. Tauris, p. 17. A figure very close to this (50%) was confirmed by the bonds’ trustees, Manufacturers Hanover Trust Company now part of JP Morgan Chase, New York.

104. Speech by Kaunda on the ZIMCO redemption, 31 August 1973, UNIP 7/19/4, UNIP Archive, Lusaka, p. 1.

105. Extensive details are presented in Chapter Three.106. Marketing boost, Times of Zambia, 28 September 1973, p. 1.107. Zambia reorganises mining, The Guardian, 1 September 1973, p. 16.108. Copper is now in our control, Times of Zambia, 1 September 1973, p. 1.109. Larmer, M. ed. (2010). The Musakanya papers: The autobiography writings of

valentine Musakanya. Lusaka: Lembani Trust, pp. 116– 117.110. Memorandum by the Minister of Planning and Finance to the Cabinet,

Budget: Levels of expenditure – 1975, UNIP 8/3/12/22, UNIP Archive, Lusaka, p. 2.

111. Cable from United States Ambassador to Zambia, Jean Wilkowski, to US State Department, Revision of Mine Take- over Agreements, US Department of State, 1 September 1973, 1973LUSAKA01607_b. Available at: www.wikileaks.org/plusd/cables/1973LUSAKA01607_b.html [accessed 21 January 2014]. Also personal correspondence with Andrew Sardanis, 19 January 2014.

112. The Wall Street Journal reported three weeks after the announcement that ZIMCO still expected to pay considerably less that face value for the bonds. Zambia to Prepay Bonds, Wall Street Journal, 19 September 1973, p. 29.

113. Cable from United States Ambassador to Zambia, Jean Wilkowski, to US State Department, Revision of Mine Take- over Agreements, US Department of State, 1 September 1973, 1973LUSAKA01607_b. Available at: www.wikileaks.org/plusd/cables/1973LUSAKA01607_b.html [accessed 21 January 2014]. Also, personal correspondence with Andrew Sardanis, 19 January 2014.

114. According to Musakanya, Kaunda and a small number of advisors had devised the policy, purposely excluding the Governor of the BoZ and the

Notes 215

Minister of Finance from discussions. Larmer, M. ed. (2010). The Musakanya papers: The autobiography writings of valentine Musakanya. Lusaka: Lembani Trust, pp. 116– 117.

115. 1973 Bank of Zambia annual report shows two 1973 Euro- dollar loans of USD 50 million in June and USD 100 million in September (after redemp-tion announced) respectively. Also reported in: We’ve lost K174m on mines, Times of Zambia, 15 September 1973, p. 1.

116. This could mean interest rates as high as 13%, Times of Zambia, Business Review, 28 September 1973, p. 8.

117. A fairly good analysis of the situation was made by The Wall Street Journal: Zambia to Prepay Bonds, Wall Street Journal, 19 September 1973, p. 29.

118. Its tough getting African Bank loan, Times of Zambia, 4 June 1974, p. 1.119. Harvey, C. (1972). Growth and the structure of the economy. In: Bostock,

M., Harvey, C. eds (1972). Economic independence and Zambian copper: A case study of foreign investment. New York: Praeger, p. 103. Larmer, M. ed. (2010). The Musakanya papers: The autobiography writings of valentine Musakanya. Lusaka: Lembani Trust, p. 117.

120. This is based on: USD 146m outstanding, originally 6% interest, 7 years to run; versus new terms of USD 146m, 15% average interest rate between 1973 and 1983, and 10 years maturity. USD 6M interbank rate 1973– 1983 rates from Bloomberg Finance L.P.

121. Larmer, M. ed. (2010). The Musakanya papers: The autobiography writings of valentine Musakanya. Lusaka: Lembani Trust, p. 117.

122. Letter from Kaunda to Ministers on the reorganisation of ZIMCO, 19 February 1974, UNIP 7/25/22, UNIP Archive, Lusaka.

123. Reorganisation of ZIMCO, 14 March 1974, UNIP 7/25/28, UNIP Archive, Lusaka. Reorganisation of ZIMCO, 14 March 1974, ZIMCO 1/2/159, National Archive, Lusaka. Zambians take over management, The Guardian, 30 November 1973, p. 21.

124. Minutes of meeting of the Central Economic and Finance Committee, 25– 26 March 1974, UNIP 8/3/21/8, UNIP Archive, Lusaka, p. 11.

125. Letter from Sardanis to Kaunda, marked ‘Secret and Personal’, Comment on Kaunda’s decision to redeem the ZIMCO bonds, 19 September 1973, HM84/INDECO/1/73/1, National Archive, Lusaka.

126. Ibid.127. Ibid.128. Andrew Sardanis, former CEO of INDECO, email correspondence with

Stuart Barton, 29 September 2013, 1, 3 October 2013, 19 January 2014.129. Sardanis, A. (2003). Africa: Another side of the coin: Northern Rhodesia’s final

years and Zambia’s nationhood. London: I. B. Tauris, p. 273.130. Cable from United States Ambassador to Zambia, Jean Wilkowski, to

the US Secretary of State, Revision of mine agreements, 5 September 1973, 1973LUSAKA01612_b. Available at: www.wikileaks.org/plusd/cables/1973LUSAKA01612_b.html [accessed 21 January 2014].

131. Ibid.132. Cable from the Department of State to the Zambian Embassy, Revision

mine takeover agreements, 10 September 1973, 1973STATE179711_b. Available at: www.wikileaks.org/plusd/cables/1973STATE179711_b.html [accessed 21 January 2014].

216 Notes

133. Kirkland- Whittaker, Kaunda Manages Copper, Broker report, Wall Street Journal, 3 September 1973, p. 17.

134. Bache Commodities Limited, Zambian copper holdings, Comment, Wall Street Journal, 21 September 1973, p. 15.

135. Zambian Anglo American Limited Bermuda, Review by the President H.F Oppenheimer, 9 October 1973, Published in several newspapers including The Guardian, Display Ad 32, p. 17.

136. New force in world of mining finance, The Guardian, 10 June 1974, p. 13.137. Roan Copper Mines, Announcement to Shareholders, Wall Street Journal,

21 November 1973, p. 24.138. World Bank, World Development Indicators, Zambia: Gross Capital

Formation (Constant 2005 USD). Available at: http://databank.worldbank.org/ [accessed 11 December 2013].

139. De Long, J. B. and Summers, L. H. (1991). ‘Equipment investment and economic growth’. The Quarterly Journal of Economics, 106 (2), 445– 502. Aitken, B., Hanson, G. H. and Harrison, A. E. (1997). ‘Spillovers, foreign investment, and export behavior’. Journal of International Economics, 43 (1), 103– 132.

140. Tordoff, W. ed. (1974). Politics in Zambia. Berkeley: University of California Press, p. 384.

141. Confidential letter from UNIP Secretary General to wide distribution list, UNIP’s disciplinary ladder: Enforcement machinery, 25 February 1970, UNIP 8/1/8/3, UNIP Archive, Lusaka. UNIP, Leadership Code, undated, UNIP 8/1/6/1, UNIP Archive, Lusaka.

142. Can we rule together?, Zambia Daily Mail, 21 April 1971, p. 1.143. A paper presented to the members of the interim executive committee by

his Excellency Dr K. D. Kaunda. President of the Republic of Zambia, April 1971, UNIP 8/1/9/4, UNIP Archive, Lusaka, pp. 3– 4.

144. Ibid., p. 10.145. Ibid., p. 12.146. Kaunda’s police arrest 100, The Guardian, 17 September 1971, p. 4. Kaunda

‘allowing UPP victimisation’, The Guardian, 8 September 1971, p. 8. UNIP zeal turns to violence, The Guardian, 23 November 1971, p. 4. Kapwepwe accuses police, The Guardian, 6 October 1971, p. 4. Kaunda unseats Zambia’s outspoken editor, The Guardian, 3 January 1972, p. 4.

147. Statement by his Excellency the President, Dr K.D. Kaunda, at the press confer-ence at State House announcing the appointment of a national Commission on the establishment of a One- party democracy in Zambia, 18 February 1972, UNIP 7/1/1/47, UNIP Archive, Lusaka. Reported in: Kaunda’s plan for one- party democracy, The Guardian, 26 February 1972, p. 3.

148. Bates, R. H. and Collier, P. (1995). ‘The politics and economics of policy reform in Zambia’. Journal of African Economies, 4 (1), p. 116.



151. McPherson, M. F. (1995). The sequencing of economic reforms: Lessons from Zambia (No. 516). Cambridge, Massachusetts: Harvard Institute for International Development, p. 9.

Notes 217

152. Letter from Sardanis to Kaunda, marked ‘Secret and Personal’, Comment on Kaunda’s decision to redeem the ZIMCO bonds, 19 September 1973, HM84/INDECO/1/73/1, National Archive, Lusaka.

153. Sardanis, A. (2003). Africa: Another side of the coin: Northern Rhodesia’s final years and Zambia’s nationhood. London: I. B. Tauris, pp. 266– 278.

154. Ibid., pp. 271 and 268.155. Ibid., p. 273.

5 Crisis: Decline and Denial (1975–1981)

1. Jerven, M. (2008). African economic growth reconsidered: Measurement and performance in East- Central Africa, 1965– 1995. Ph.D. disserta-tion, London School of Economics. Larmer, M. (2010). Zambia’s Mining Booms and Busts. In: Fraser, A., Larmer, M. eds (2010). Zambia, Mining, and Neoliberalism: Boom and Bust on the Globalized Copperbelt. New York: Palgrave Macmillan, p. 39.

2. du Plessis, S. and du Plessis, S. (2006). ‘Explanations for Zambia’s economic decline’, Development Southern Africa, 23 (3), 351– 369, 354.

3. Zambian concern as reserves fall, The Guardian, 30 June 1972, p. 3. 4. Auty, R. M. (1991). ‘Mismanaged mineral dependence: Zambia 1970– 90’.

Resources Policy, 17 (3), 170– 183. 5. Fry, J. (1980). The economy. In: Tordoff, W. ed. (1980). Administration in

Zambia. Manchester: Manchester University Press, p. 58. 6. New force in world of mining finance, The Guardian, 10 June 1974, p. 13. 7. Unsigned brief to Minister of Finance, July 1971, UNIP 7/5/7, UNIP Archive,

Lusaka. 8. Larmer, M. ed. (2010). The Musakanya papers: The autobiography writings of

valentine Musakanya. Lusaka: Lembani Trust, p. 49. 9. Zambian concern as reserves fall, The Guardian, 30 June 1972, p. 3.10. Larmer, M. ed. (2010). The Musakanya papers: The autobiography writings of

valentine Musakanya. Lusaka: Lembani Trust, p. 49.11. Governor removed, The Guardian, 27 June 1972, p. 7.12. Average London Metal Exchange copper price April 1974 = USD 2,733 per

ton. 10- year trailing average in June 1972 = USD 1,140 per ton. Prices from Bloomberg Finance L.P.

13. Memorandum by the Minister of Planning and Finance, Budget: Levels of Expenditure 1975, 11 December 1974, UNIP 8/3/12/22, UNIP Archive, Lusaka.

14. Ibid.15. Larmer, M. ed. (2010). The Musakanya papers: The autobiography writings of

valentine Musakanya. Lusaka: Lembani Trust, pp. 96– 97.16. Memorandum by the Minister of Planning and Finance, Budget: Levels

of Expenditure 1975, 11 December 1974, UNIP 8/3/12/22, UNIP Archive, Lusaka, pp. 5– 6.

17. Clark, J., Allison, C. and Keen, D. (1989). Zambia: Debt & poverty, Oxfam, p. 11.

18. Fry, J. (1980). The economy. In: Tordoff, W. ed. (1980). Administration in Zambia. Manchester: Manchester University Press, p. 58.

218 Notes

19. Speech by Kaunda, Summary Report of the Economic Situation in Zambia, 30 June 1975, UNIP 1/26, UNIP Archive, Lusaka, pp. 2, 6.

20. Cable from US ambassador to Zambia reporting meeting with Humphrey Mulemba, 31 October 1975, Public Library of US diplomacy, 1975LUSAKA02142_b. Avalable at: www.wikileaks.org/plusd/cables/1975LUSAKA02142_b.html [accessed 21 January 2014], p. 1.

21. GRZ, Loans policy committee report, 12 June 1976, UNIP 7/5/13, UNIP Archive, Lusaka.

22. Mwanakatwe, J. M. (2003). John M. Mwanakatwe: Teacher, politician, lawyer: My autobiography. Lusaka: Bookworld, pp. 293– 295.

23. Memorandum by the Minister of Planning and Finance, Budget: Levels of Expenditure 1975, 11 December 1974, UNIP 8/3/12/22, UNIP Archive, Lusaka, p. 4.

24. Barry, F. (1991). ‘Terms of trade collapse and the growth of foreign debt: Zambia’s Macroeconomic Crisis, 1970– 90’, Development Review. Kildare: Trocaire, p. 32.


26. Simwinga, G. (1980). Corporate autonomy and government control of State enterprises. In: Tordoff, W. ed. (1980). Administration in Zambia. Manchester: Manchester University Press, pp. 131– 137.

In: Tordoff, W. ed. (1980). Administration in Zambia. Manchester: Manchester University Press, pp. 131– 134.

27. Memorandum by the Minister of Planning and Finance, Budget: Levels of Expenditure 1975, 11 December 1974, UNIP 8/3/12/22, UNIP Archive, Lusaka, p. 4.

28. Mwanakatwe, J. M. (2003). John M. Mwanakatwe: Teacher, politician, lawyer: My autobiography. Lusaka: Bookworld, p. 225.

29. Zambian Copper Firms to Boost Capacity; 2 Major Producers to Spend $87 Million, Wall Street Journal, 24 August 1967. World Bank, World Development Indicators, Zambia: Foreign direct investment – net inflows ( balance- of- payment, USD). Available at: http://databank.worldbank.org/ [accessed 11 December 2013].

30. Summary Report of the Economic Situation in Zambia, 30 June 1975, UNIP 1/26, UNIP Archive, Lusaka, 2, 6. ZIMCO Board Meetings – 1975, UNIP 7/25/29, UNIP Archive, Lusaka. Mwanakatwe, J. M. (2003). John M. Mwanakatwe: Teacher, politician, lawyer: My autobiography. Lusaka: Bookworld, pp. 288– 289.



33. Curbs on wealthy in Zambia, The Guardian, 26 October 1973, p. 4.34. Tordoff, W. ed. (1980). Administration in Zambia. Manchester: Manchester

University Press, p. 31.35. Szeftel, M. (1978). Conflict, Spoils and Class Formation in Zambia, Doctoral

dissertation, University of Manchester, p. 425, quoted in: Tordoff, W. ed. (1980).

Notes 219

Administration in Zambia. Manchester: Manchester University Press, p. 31.


37. Kaunda takes over papers, The Guardian, 1 July 1975, p. 1.38. Speech given by His Excellency the President Dr. Kenneth D. Kaunda to the

UNIP National Council, The Watershed Speech, 30 June 1975, UNIP 12/12/3, UNIP Archive, Lusaka.

39. Strasma, J., Mulenga S., P. and Musona, D. (1995). Land valuation and taxation. In: Roth, M. (1995). Land Tenure, Land Markets, and Institutional Transformation in Zambia. LTC Research Paper 124, p. 127.

40. Speech given by His Excellency the President Dr. Kenneth D. Kaunda to the UNIP National Council, The Watershed Speech, 30 June 1975, UNIP 12/12/3, UNIP Archive, Lusaka.

41. Burawoy, M. (1972). The colour of class on the copper mines, from African advancement to Zambianization (vol. 7). Lusaka: Institute for African Studies, University of Zambia.

42. GRZ, Constitution of the Republic of Zambia, Article 12 (5), 25 August 1973, Parliamentary Library, Lusaka.

43. UNIP, The Cause of the People is the Cause of the Party – Guidelines for the Central Committee, 1974, UNIP 8/1/32, UNIP Archive, Lusaka, p. 13.

44. Bates, R. H. and Collier, P. (1995). ‘The politics and economics of policy reform in Zambia’. Journal of African Economies, 4 (1), p. 116.

45. Tordoff, W. ed. (1974). Politics in Zambia. Berkeley: University of California Press, p. 384.


47. INDECO, Annual Report: 1976, ZIMCO 1/2/139, National Archive, Lusaka.48. UNIP, Minutes of the 11th National Council of the United National

Independence Party. Mulungushi hall. 12th– 15th December 1977, UNIP 1/1/24, UNIP Archive, Lusaka, p. 80.

49. GRZ, Committee on Parastatal Bodies, Report of the Committee on Parastatal Bodies, 30 November 1978, ZIMCO 1/2/215, National Archive, Lusaka, pp. 1– 17.

50. Letter from Kaunda to Board of directors of INDECO, 31 October 1978. In the letter Kaunda expresses his belief that INDECO is being mismanaged and proposes an entirely new management structure. ZIMCO 1/2/159, National Archive, Lusaka. Letter to Prime Minister Daniel Lisulo from Kaunda, Kaunda believes ZIMCO is failing and appoints Prime Minister Daniel Lisulo to Chair of ZIMCO, 2 August 1978, UNIP 7/27/7/70. UNIP Archive, Lusaka, p. 1. Further ZIMCO rationalisation occurred in 1979, Letter from Kaunda on ZIMCO rationalisation, ZIMCO 1/4/44, National Archive, Lusaka.


52. GRZ, Committee on Parastatal Bodies, Report of the Committee on Parastatal Bodies, 30 November 1978, ZIMCO 1/2/215, National Archive, Lusaka, p. 16.


54. Ibid., p. 283.

220 Notes

55. Internal audits of ZIMCO companies 1975– 1981, ZIMCO 1/2/214, National Archive, Lusaka. ZIMCO Audit report – 1982, December 1982, ZIMCO 1/3/41, National Archive, Lusaka, p. 283.

56. Letter from Kaunda to Prime Minister Daniel Lisulo identifying problems at INDECO’s, 24 August 1978, UNIP 7/27/7/70, UNIP Archive, Lusaka, p. 1.

57. ZIMCO, Report on Supa Baking Company, 30 August 1983, ZIMCO 1/2/378, National Archive, Lusaka, p. 2.

58. Letter from Kaunda to Prime Minister Daniel Lisulo identifying problems at INDECO’s, 24 August 1978, UNIP 7/27/7/70, UNIP Archive, Lusaka, p. 3.

59. ZIMCO, Audit report – 1982, December 1982, ZIMCO 1/3/41, National Archive, Lusaka.

60. Letter from Tate & Lyle Chairman to Kaunda, 31 October 1978, UNIP 7/27/7/86, UNIP Archive, Lusaka.

61. Seshamani, V. (1988). Industrial Development in Zambia: Retrospect and Prospect. In: Coughlin, P. and Ildara, G. eds (1988). Industrialization in Kenya: In search of a strategy. London: James Currey, p. 68.

62. Simwinga, G. (1980). Corporate autonomy and government control of State enterprises. In: Tordoff, W. ed. (1980). Administration in Zambia. Manchester: Manchester University Press, pp. 131– 134.

63. Ibid.64. Kaunda says what lies ahead, Times of Zambia, 24 December 1968, p. 1.65. Letter from Sardanis to Kaunda, Steps Needed, 10 April 1970. HM84/

INDECO/1/70/9, National Archive, Lusaka, p. 2. Letter from Sardanis to Kaunda, marked ‘Secret and Personal’, Comment on Kaunda’s decision to redeem the ZIMCO bonds, 19 September 1973, HM84/INDECO/1/73/1, National Archive, Lusaka.

66. Mwananshiku named new bank chief, Times of Zambia, 4 May 1976, p. 1.67. Mwanakatwe, J. M. (2003). John M. Mwanakatwe: Teacher, politician, lawyer:

My autobiography. Lusaka: Bookworld, pp. 208– 243. Trade winds hit Zambia, The Guardian, 2 February 1972, p. 4.


69. Cable from United States Ambassador to Zambia, Jean Wilkowski, to US State Department, Bank of Zambia governor replaced in arrest scandal, 4 May 1976. Available at: www.wikileaks.org/plusd/cables/1976LUSAKA01205_b.html [accessed 11 March 2014].

70. UNIP, Loans committee clamp down on loans, 12 June 1976, UNIP 7/5/13, UNIP Archive, Lusaka. Kwacha takes a dive, Times of Zambia, 9 July 1976, p. 1.

71. Zambia borrowed K159m in two years, Times of Zambia, 8 April 1978, p. 5. Finland’s K4m aid is timely says Simonda, Times of Zambia, 23 December 1976, p. 1. More aid for Zambia, The Guardian, 9 August 1978, p. 14. Mwanakatwe’s cash despair, Times of Zambia, 17 September 1976, p. 1.

72. State loans clarified, Times of Zambia, 14 December 1976, 1. GRZ, Discussions on authority to raise loans and validity of GRZ loans, 27 December 1976, UNIP 7/5/15/9, UNIP Archive, Lusaka.

73. Mwanakatwe’s cash despair, Times of Zambia, 17 September 1976, p. 1. Letter from Minister of Finance to all Cabinet Ministers, control of expenditure as things look dim, 13 July 1977, UNIP 7/5/13, UNIP Archive, Lusaka.

Notes 221

74. MPs to have pay increases, Times of Zambia, 15 September 1976, p. 1. 75. When the Third World becomes a second rate risk, The Guardian,

26 September 1977, p. 19. 76. Letter from Minister of Finance to Governor of Reserve Bank on Balance of

Payment arrears, 23 November 1977, UNIP 7/5/13, UNIP Archive, Lusaka. 77. Minutes of 10th National Council Meeting, 27– 30 June 1977, UNIP 1/1/37,

UNIP Archive, Lusaka. 78. No more nationalisation, says Zambia, The Guardian, 4 October 1977, p. 14.

Times of Zambia, 5 October 1977, p. 1. 79. GRZ, Industrial Development Act, No. 18 of 1977, Parliamentary Library,

Lusaka. 80. No more nationalisation, says Zambia, The Guardian, 4 October 1977, p. 14. 81. Investors urged: Act is charter, Times of Zambia, 5 October 1977, p. 1. 82. GRZ, The Industrial Development Act of 1977, Section 18, Pt. IV, 24, d,

Parliamentary Library, Lusaka. 83. Kaunda will send city jobless back to the farm, The Guardian, 12 October

1977. 84. Call for political and economic changes by Zambian group, The Guardian,

5 December 1977. 85. UNIP, Letter to meat dealers enforcing standardized pricing, 26 June 1978,

UNIP 7/27/7/63, UNIP Archive, Lusaka. 86. Ibid. 87. GRZ, letter from Home Affairs to Prime Minister, marked ‘Secret’, Shortage

of essential commodities in the country, 7 September 1979, UNIP 7/27/7/123, UNIP Archive, Lusaka.

88. UNIP, Letter from Lusaka Province to Secretary General concerning queues outside shops, 19 July 1979, UNIP 7/27/7/122, UNIP Archive, Lusaka.

89. Zambia to cut out the LME, The Guardian, 14 November 1978, p. 16. 90. Mercedes Benz Zambia, Letter of confirmation for 20 Mercedes Benz,

30 November 1978, UNIP 8/315/73 and UNIP 8/11/11, UNIP Archive, Lusaka. 91. UNIP, Large collection of demands for unpaid accounts, 1974– 1975, UNIP

8/3/26, UNIP Archive, Lusaka. 92. Funds plea by Zambia, The Guardian, 11 March 1978, p. 6. 93. Ibid, p. 6. 94. IMF deal has snags says report, Business Review, Times of Zambia,

24 October 1978, p. 2. 95. Ibid., p. 2. 96. IMF, Zambia – Request for Trust Fund Loan, 17 April 1978, TR/78/19,

Washington DC: IMF Archive. Zambia devalues by ten per cent, The Guardian, 18 March 1978, p. 2.

97. Zambian rivals to stand against Kaunda, The Guardian, 3 August 1978, p. 6. Kaunda faces election challenge, The Guardian, 28 September 1978, p. 6.

98. Zambian leader faces challenge for first time, The Afro American, 7 October 1978, p. 1.

99. Kaunda’s rivals lose appeal against election ruling, The Guardian, 17 November 1978, p. 8. Kaunda’s mandate diminished, The Guardian, 14 December 1978, p. 7.

100. Kaunda arrests critics, The Guardian, 11 September 1979, p. 7. Zambia deports editor, The Guardian, 7 April 1979, p. 6.

222 Notes

101. Zambian clergy warn of ‘Marxist’ threat, The Guardian, 20 September 1979, p. 7.

102. Kaunda threatens to curb press freedom, The Guardian, 23 April 1980, p. 7.103. Ibid, p. 7.104. Ibid, p. 7.105. Tordoff, W. ed. (1980). Administration in Zambia. Manchester: Manchester

University Press, pp. 268– 269.106. Larmer, M. ed. (2010). The Musakanya papers: The autobiography writings

of valentine Musakanya. Lusaka: Lembani Trust, p. 65. Curfew imposed on Zambia’s principal towns, The Guardian, 24 October 1980, p. 6.

107. Zambia foils Pretoria plot, The Guardian, 28 October 1980, p. 7.108. Zambian union leaders suspended, The Guardian, 12 January 1981, p. 6.

Union Chiefs fired, Times of Zambia, 10 January 1981, p. 1. Zambian union leaders held for ‘plotting’, The Guardian, 28 July 1981, p. 7.

109. Chiluba lashes ‘economy bunglers’, Times of Zambia, 31 December 1976, p. 1.110. Zambian strike spreads, The Guardian, 23 January 1981, p. 8. Police and

miners in clash, The Guardian, 28 January 1981, p. 6.111. Asians expulsion threat, The Guardian, 15 January 1981, p. 6.112. Zambia curbs critics as economy falters, The Guardian, 19 January

1981, p. 6.113. Kaunda in truce with the unions, The Guardian, 30 October 1981, p. 7.114. Speech by Prime Minister Elijah Mudenda, 29 October 1978, UNIP 8/3/11/9

UNIP Archive, Lusaka, p. 1.115. Zambia buys maize from SA to replenish failed harvest, The Guardian, 10

October 1979, p. 2.116. Growing pains at ten, The Guardian, 24 October 1974, p. 19.117. Zambia refuses to halt raids, The Guardian, 7 November 1979, p. 7.118. Zambia’s southern links destroyed, The Guardian, 19 November 1979, p. 6.119. Speech given by Prime Minister of Zimbabwe- Rhodesia Mr. Abel Muzorewa,

20 November 1979, ITN news. Available at: www.itnsource.com/shotlist//RTV/1979/11/22/BGY511150301/?s=rhodesia [accessed 10 October 2013].

120. Zambia buys Soviet MiGs, The Calgary Herald, 8 February 1980, p. 11. Moscow selling MiGs to Zambia, The Guardian, 2 February 1980, p. 6.

121. Zambia buys maize from SA to replenish failed harvest, The Guardian, 10 October 1979, p. 8. Zambian maize imports delayed, The Guardian, 25 February 1980, p. 6.

122. This loan will later form part of a lawsuit between the hedge fund Donegal and the GRZ. Laryea, T. (2010). Donegal v. Zambia and the Persistent Debt Problems of Low- Income Countries. Law & Contemp. Probs., 73, 193.

123. Russian advisers help build Zambian jets, The Guardian, 15 December 1980, p. 5.

124. Ibid., p. 5.125. SA cut off wheat supplies, Times of Zambia, 9 April 1981, p. 1.126. Ibid., p. 1.127. World Bank, Accelerated Development in Sub- Saharan Africa: An Agenda

for Action, 1981. Washington D. C.: World Bank, pp. 2– 4. Strange weight tips the Bank balance, The Guardian, 4 November 1981, p. 9.

128. Zambian socialism’s failure laid bare, The Guardian, 19 March 1980, p. 7.129. Capitalism is out says Kaunda, Times of Zambia, 16 May 1981, p. 5.

Notes 223

130. Hall, R. (1969). The high price of principles: Kaunda and the white South. Boulder: Holmes and Meier, 6.


132. du Plessis, S. and du Plessis, S. (2006). ’Explanations for Zambia’s economic decline’, Development Southern Africa, 23 (3), 351– 369, 355. Devarajan, S. W. and Easterly, W., Pack, H. (2001). ‘Is investment in Africa too high or too low? Macro and micro evidence’. Journal of African Economies, 10, 81– 108.

133. Acemoglu, D. and Robinson, J. (2012). Why Nations Fail: The Origins of Power, Prosperity, and Poverty. London: Profile books, p. 110.

134. UNIP, Paper to Central Committee on economics and the implementation of Watershed, August 1975, UNIP 8/3/9/13, UNIP Archive, p. 2.

135. Aron, J. and Elbadawi, I. (1992). Parallel Markets, the foreign exchange auc-tion, and exchange rate unification in Zambia. Washington D. C.: World Bank. Bates, R. H. (1981). Markets and states in tropical Africa: The political basis of agricultural policies. Berkeley: University of California Press.

136. Speech given by Prime Minister of Zimbabwe Rhodesia Mr. Abel Muzorewa, 20 November 1979, ITN news. Available at: www.itnsource.com/shotlist//RTV/1979/11/22/BGY511150301/?s=rhodesia [accessed 10 October 2013].

137. UNIP, Minutes of the 15th National Council Meeting, 1– 6 November 1980, UNIP 1/1/50, UNIP Archive, Lusaka.

6 Conditionality: Inertia and Adjustment (1981–1991)

1. Berg, E., Amoako, K. J. and Guesten, R. (1981). Accelerated development in Sub- Saharan Africa: An agenda for action. World Bank. Bates, R. H. (1981). Markets and states in tropical Africa: The political basis of agricultural policies. University of California, Pr.

2. Kaunga, E. C. and Ncube, P. D. (1984). An overview of the Zambian Economy, Ministry of Finance and National Commission for Development Planning. In: Kaunga, E. C. and Ncube, P. D. (1985). The Zambian Economy: Problems and Prospects. Lusaka: University of Zambia, pp. 163– 164.

3. Ibid., p. 166. 4. USD interbank rates reach 20 per cent in 1980. Interest rate on bonds

in 1980 = interbank rate + 1.75 per cent = 21.75 per cent. Bonds USD 150 million at 21.75 per cent equates to USD 32.63 million. Rates from Bloomberg Finance L.P.

5. Kaunga, E. C. and Ncube, P. D. (1984). An overview of the Zambian Economy, Ministry of Finance and National Commission for Development Planning. In: Kaunga, E. C. and Ncube, P. D. (1985). The Zambian Economy: Problems and Prospects, University of Zambia, Lusaka, p. 167.

6. Ibid., pp. 168– 9. 7. Ibid., p. 169. 8. Mwanakatwe, J. M. (2003). John M. Mwanakatwe: Teacher, Politician,

Lawyer: My Autobiography. Lusaka: Bookworld, p. 289. 9. Kaunga, E. C. and Ncube, P. D. (1984). An overview of the Zambian

Economy, Ministry of Finance and National Commission for Development

224 Notes

Planning. In: Kaunga, E. C. and Ncube, P. D. (1985). The Zambian Economy: Problems and Prospects, University of Zambia, Lusaka, p. 162.

10. Ibid., p. 162.11. Ibid., p. 156.12. Zambia curbs critics as economy falters, The Guardian, 19 January 1981, p. 6.13. Budget deficit jumps to K100m, Times of Zambia, Business Review, 24 March

1981, p. 2.14. Top bank tightens foreign cash flows, Times of Zambia, 5 May 1981, p. 1.15. SA cut off wheat supplies, Times of Zambia, 9 April 1981, p. 1.16. Zambian cargo marooned in Tanzania, passenger services have been stopped

as a result, Times of Zambia, 15 April 1981, p. 1.17. This is still going on, Times of Zambia, 24 April 1981, p. 1.18. Maize crisis hits copper belt, Times of Zambia, 12 May 1981, p. 5.19. Russian advisers help build Zambian jets, The Guardian, 15 December

1980, p. 5.20. IMF gives us K1bn loan, Times of Zambia, 13 May 1981, p. 1.21. Ncube, P. D., Sakala, M. and Ndulu, M. (1987). The International Monetary

Fund and the Zambian Economy. In: Havnevik, K. (1987). The IMF and the World Bank in Africa: conditionality, impact and alternatives, p. 136.

22. Wulf, J. (1988). Zambia under the IMF Regime. African Affairs, 87(349), 579– 594, 580.

23. Letter from Frank Chitambala, Chief Political Advisor to Kaunda, to the Director General of ZIMCO, 7 September 1981, UNIP 7/27/7/158, UNIP Archive, Lusaka.

24. Ibid.25. Ibid.26. Craig, J. R. (2001). Putting privatisation into practice: the case of Zambia

Consolidated Copper Mines Limited. Journal of Modern African Studies, 39(3), 389– 410.

27. Kaunga, E. C. and Ncube, P. D. (1984). An overview of the Zambian Economy, Ministry of Finance and National Commission for Development Planning, Lusaka. In: University of Zambia (1984). The Zambian Economy: Problems and Prospects, pp. 165– 6. Wulf, J. (1988). Zambia under the IMF Regime. African Affairs, 87(349), 579– 594.

28. Kwacha devalued, Times of Zambia, 8 January 1983, p. 1. Zambia suspends payments, The Guardian, 8 January 1983, p. 19.

29. IMF deal sealed, Times of Zambia, 26 March 1983, p. 1. IMF nods request, Times of Zambia, 10 March 1983, p. 1.


31. IMF deal sealed, Times of Zambia, 26 March 1983, p. 1.32. Letter from Ministry of Finance, marked ‘secret’, Industrial Sector Project, 25

June 1984, UNIP 7/5/15/65, UNIP Archive, Lusaka, p. 1.33. Ibid., p. 2.34. Ibid., p. 4.35. World Bank, Financing Adjustment with Growth in Sub- Saharan Africa,

1986– 1990, 1986. Washington DC: World Bank, p. 24.36. Aron, J. and Elbadawi, I. (1992). Parallel markets, the foreign exchange auction,

and exchange rate unification in Zambia. Washington DC: World Bank.

Notes 225



39. Letter from Mr A. J. Soko Chairman of Economic and Finance Committee to Kaunda, marked ‘Secret’, Proposed exchange rate auctions, 6 July 1984, UNIP 7/5/15/66, UNIP Archive, Lusaka, p. 1.

40. Ibid., pp. 1– 2.41. Wulf, J. (1988). Zambia under the IMF Regime. African Affairs, 87(349),

579– 594, 586. Gulhati, R. (1989). Impasse in Zambia: The Economics and Politics of Reform, EDI Development Policy Case Series Analytical Case Studies, No. 2. Washington DC: World Bank.

42. World Bank, Zambia: Country Economic Memorandum, and Bank of Zambia, Quarterly Financial and Statistical Review, various issues, quoted in Wulf, J. (1988). Zambia under the IMF Regime. African Affairs, 87(349), 579– 594, 580– 581.

43. McPherson, M. F. (1995). The sequencing of economic reforms: Lessons from Zambia (No. 516). Cambridge, MA: Harvard Institute for International Development. Wulf, J. (1988). Zambia under the IMF Regime. African Affairs, 87(349), 579– 594, 581, 586.

44. Zambians killed in food riots sweeping the Copperbelt, The Guardian, 10 December 1986, p. 8. Kaunda kills price rise after riots, The Guardian, 12 December 1986, p. 9.

45. Bates, R. H. and Collier, P. (1995). The politics and economics of policy reform in Zambia. Journal of African Economies, 4(1), 115– 143, 135.

46. Larmer, M. (2006). ‘The Hour Has Come at the Pit’: The Mineworkers’ Union of Zambia and the Movement for Multi- Party Democracy, 1982– 1991. Journal of Southern African Studies, 32(2), 293– 312, 302– 303. Rakner, L. (1993). Political transition and economic reform. The role of labour in Zambian National Politics. In Forum for Development Studies (Vol. 20, No. 2, pp. 131– 147). Taylor & Francis Group.

47. There had been an ongoing battle between UNIP and the unions for con-trol of the mineworkers. See Burawoy, M. (1972). The colour of class on the copper mines, from African advancement to Zambianization (Vol. 7). Manchester University Press [for] the Institute for African Studies, University of Zambia, p. 28.

48. Aid brings grumbles at Lusaka, The Guardian, 3 February 1984, p. 8.49. World Bank, World Development Report, 1985. Washington DC: World

Bank, p. iii.50. Ibid., p. 1.51. Ibid., p. 48.52. The GRZ, Restructuring in the Midst of Crisis, Background Paper for the

Consultative Group for Zambia in Paris, 22– 24 May 1984, Volume 1, p. 25, Volume 2, pp. 9– 11.

53. Gulhati, R. (1989). Impasse in Zambia: The Economics and Politics of Reform, EDI Development Policy Case Series Analytical Case Studies, No. 2. Washington DC: World Bank, pp. 42– 43.

54. Letter from Frank Chitambala, Chief Political Advisor to Kaunda, to the Director General of ZIMCO, 7 September 1981, UNIP 7/27/7/158, UNIP Archive, Lusaka.

226 Notes

55. Gulhati, R. (1989). Impasse in Zambia: The Economics and Politics of Reform, EDI Development Policy Case Series Analytical Case Studies, No. 2. Washington DC: World Bank, p. 43.

56. Ibid., p. 43.57. Larmer, M. (2006). ‘The Hour Has Come at the Pit’: The Mineworkers’

Union of Zambia and the Movement for Multi- Party Democracy, 1982– 1991. Journal of Southern African Studies, 32(2), 293– 312, 294.


59. Ibid., pp. 581, 586. Zambians killed in food riots sweeping the Copperbelt, The Guardian, 10 December 1986, p. 8. Kaunda kills price rise after riots, The Guardian, 12 December 1986, p. 9.

60. We are in Crisis – Kaunda, Times of Zambia, 28 April 1987, p. 1. Be ready – Kaunda, Times of Zambia, 29 April 1987, p. 1.

61. Zambia to ‘go it alone’, The Guardian, 2 May 1987, p. 6. Why we differed, Times of Zambia, 6 May 1987, p. 1.

62. Kaunda charts course, Times of Zambia, 26 May 1987, p. 1.63. Wulf, J. (1988). Zambia under the IMF Regime. African Affairs, 87(349),

579– 594, 590.64. Ibid., p. 586.65. Bank Chief fired, Times of Zambia, 14 May 1987, p. 1. We will be ruthless,

Times of Zambia, 16 May 1987, p. 1.66. Prices are ‘made up’, Times of Zambia, 8 May 1987, p. 1.67. Ibid.68. Letter from Robinson Nabulyato to Kenneth Kaunda, 31 March 1987, HM79/

PP/1/87/1, National Archive, Lusaka.69. Mwanakatwe, J. M. (2003). John M. Mwanakatwe: Teacher, Politician,

Lawyer: My Autobiography. Lusaka: Bookworld, p. 283.70. Letter from Robinson Nabulyato to Kenneth Kaunda, 31 March 1987, HM79/

PP/1/87/1, National Archive, Lusaka.71. Ibid.72. Letter from Robinson Nabulyato to Kenneth Kaunda warning him that vio-

lating the constitution will result in a coup, 4 March 1988, HM79/PP/1/88/2, National Archive, Lusaka.

73. Letter from Robinson Nabulyato asking Kaunda for protection from har-assment by security forces, 9 November 1988, HM79/PP/1/88/7, National Archive, Lusaka.

74. IMF, IMF Approves Three- year ESAF and One- year SAF Loans for Zambia, Press Release No. 95/62, 6 December 1995. Available at: www.imf.org/external/np/sec/pr/1995/pr9562.htm [accessed 15 November 2013]. Debt reported as of January 1990, in: World Bank, Global Development Finance, 2003, Washington DC: World Bank. Zambia imports 2m bags, Times of Zambia, 6 June 1987, p. 1.

75. Rakner, L. (2003). Political and Economic Liberalisation in Zambia: 1991– 2001. Stockholm: Nordic Africa Institute, p. 62.

76. World Bank, World Development Report, 1991. The Challenge of Development, Washington DC: World Bank, p. 2.

77. Ibid., pp. 181– 191.78. Attack on Third World spending, The Guardian, 9 May 1990, p. 24.

Notes 227

79. World Bank, World Development Report, 1991. The Challenge of Development, Washington DC: World Bank, p. 25.

80. Bonnick, G. G. (1997). Zambia Country Assistance Review: Turning an Economy Around. Washington DC: World Bank.

81. Saasa, O. S. (2002). Aid and poverty reduction in Zambia: mission unaccom-plished. Uppsala: Nordic Africa Institute, p. 43.

82. Bonnick, G. G. (1997). Zambia Country Assistance Review: Turning an Economy Around. Washington DC: World Bank.

83. Saasa, O. S. (2002). Aid and poverty reduction in Zambia: Mission unaccom-plished. Uppsala: Nordic Africa Institute, p. 44.

84. Bates, R. H. and Collier, P. (1995). The politics and economics of policy reform in Zambia. Journal of African Economies, 4(1), 115– 143, 141.

85. Andreassen, B. A., Geisler, G. and Tostensen, A. (1992). Setting a Standard for Africa? Lessons from the 1991 Zambian Elections, p. 14.

86. Larmer, M. (2010). Zambia’s mining booms and busts. In: Fraser, A. and Larmer, M. (Eds) (2010). Zambia, Mining, and Neoliberalism: Boom and Bust on the Globalized Copperbelt. New York: Palgrave Macmillan, p. 47.

87. Rakner, L. (2003). Political and Economic Liberalisation in Zambia: 1991– 2001. Stockholm: Nordic Africa Institute, p. 63.

88. Wina, A. (1990). Interview given to New African, May 1990. In: Andreassen, B. A., Geisler, G. and Tostensen, A. (1992). Setting a Standard for Africa? Lessons from the 1991 Zambian Elections. Report Chr. Michelsen Institute Department of Social Science and Development, Oslo, p. 12.

89. Kaunda promises vote on ending one- party rule, The Guardian, 30 May 1990, p. 8.

90. Andreassen, B. A., Geisler, G. and Tostensen, A. (1992). Setting a Standard for Africa? Lessons from the 1991 Zambian Elections. Report Chr. Michelsen Institute Department of Social Science and Development, Oslo, p. 14.

91. Larmer, M. (2006). ‘The Hour Has Come at the Pit’: The Mineworkers’ Union of Zambia and the Movement for Multi- Party Democracy, 1982– 1991. Journal of Southern African Studies, 32(2), 293– 312. Nordlund, P. (1996). Organising the political agora: Domination and democratisation in Zambia and Zimbabwe. Rakner, L. (2003). Political and Economic Liberalisation in Zambia: 1991– 2001. Stockholm: Nordic Africa Institute.

92. Larmer, M. (2006). ‘The Hour Has Come at the Pit’: The Mineworkers’ Union of Zambia and the Movement for Multi- Party Democracy, 1982– 1991. Journal of Southern African Studies, 32(2), 293– 312, 311.

93. Spreading food price riots leave 15 dead in Lusaka, The Guardian, 27 June 1990, p. 9. Shaken Kaunda postpones democracy referendum, The Guardian, 26 July 1990, p. 10. Zambia still volatile despite failed coup, The Guardian, 2 July 1990, p. 8.

94. Zambia lifts opposition ban, The Guardian, 18 July 1990, p. 8. Kaunda to face first- party challenge, The Guardian, 5 August 1991, p. 8.

95. Barclays de Zoete Wedd, Copper Sector Report, 22 December 1990, BZW1990- 4723. Barclays Capital, London.


228 Notes

97. U.S. Geological Survey, Copper Statistical Compendium. Available at: http://minerals.usgs.gov/minerals/pubs/commodity/copper/stat/ [accessed 25 October 2013].

98. Mwanakatwe, J. M. (2003). John M. Mwanakatwe: Teacher, Politician, Lawyer: My Autobiography. Lusaka: Bookworld, p. 194.


100. Letter from Ministry of Finance, marked ‘secret’, Industrial Sector Project, 25 June 1984, UNIP 7/5/15/65, UNIP Archive, Lusaka, p. 1.

101. Bates, R. H. and Collier, P. (1995). ‘The politics and economics of policy reform in Zambia’. Journal of African Economies, 4(1), 115– 143, 141.

102. Bonnick, G. G. (1997). Zambia country assistance review: Turning an economy around. Washington DC: World Bank, p. 52.

103. Russian advisers help build Zambian jets, The Guardian, 15 December 1980, p. 5.


105. Larmer, M. ed. (2010). The Musakanya Papers: The Autobiography Writings of Valentine Musakanya. Lusaka: Lembani Trust, p. 65. Curfew imposed on Zambia’s principal towns, The Guardian, 24 October 1980, p. 6. Zambian union leaders held for ‘plotting’, The Guardian, 28 July 1981, p. 7.

106. Kaunda in truce with the unions, The Guardian, 30 October 1981, p. 7.107. Larmer, M. (2006). ‘The Hour Has Come at the Pit’: The Mineworkers’ Union

of Zambia and the Movement for Multi- Party Democracy, 1982– 1991. Journal of Southern African Studies, 32(2), 293– 312, 300, 302.

108. Andrews, M. (2013). The limits of institutional reform in development. Cambridge: Cambridge University Press.

7 Reform: Building Trust and Raising Capital (1991–2005)

1. World Bank, World Development Indicators (2013). Zambia: GDP per capita (constant 2005 US$). Available at: http://databank.worldbank.org/ [accessed 11 December 2013].

2. Gulhati, R. (1989). Impasse in Zambia: The Economics and Politics of Reform, EDI Development Policy Case Series Analytical Case Studies, No. 2. Washington DC: World Bank, pp. 4.

3. Kaunga, E. C. and Ncube, P. D. (1984). An overview of the Zambian Economy, Ministry of Finance and National Commission for Development Planning. In: Kaunga, E. C. and Ncube, P. D. (1985). The Zambian Economy: Problems and Prospects, University of Zambia, Lusaka, p. 162.

4. First Multiparty Elections Set In Zambia for End of October, New York Times, 5 September 1991. Available at: www.nytimes.com/1991/09/05/world/first-multiparty-elections-set-in-zambia-for-end-of-october.html [accessed 21 February 2014].

5. Kaunda promises vote on ending one-party rule, The Guardian, 30 May 1990, p. 8. Larmer, M. (2006). ‘The Hour Has Come at the Pit’: The Mineworkers’

Notes 229

Union of Zambia and the Movement for Multi-Party Democracy, 1982–1991. Journal of Southern African Studies, 32(2), pp. 293–312.

6. Helle, S. and Rakner, L. (2012). The interplay between poverty and electoral authoritarianism: poverty and political mobilization in Zambia and Uganda. CMI Working Paper WP2012:3, CMI: Oslo.

7. Hero turned dictator who remains father of Zambia, The Guardian, 2 November 1991, p. 12. Kaunda quits after election landslide, The Guardian, 2 November 1991, p. 28.

8. Ministry of Finance, Budget Address, January 1992, Parliamentary Archive, Lusaka, p. 8.

9. Zambian government courts South African business, The Guardian, 5 March 1992, p. 11.

10. IMF, Press Release, No. 92/57, 17 July 1992. Available at: www.imf.org/ external/np/sec/pr/1992/pr9257.htm [accessed 15 November 2013]. At the time the GRZ had accumulated arrears with the IMF and World Bank totalling SDR 920.7 million (USD 1,369 million), IMF, IMF Approves Three-year ESAF and One-year SAF Loans for Zambia, Press Release No. 95/62, 6 December 1995. Available at: www.imf.org/external/np/sec/pr/1995/pr9562.htm [accessed 15 November 2013].

11. GRZ, The Privatisation Act of 1992, Section II, part 8.2 i), Parliamentary Library, Lusaka. Poorer than the poor, The Guardian, 14 May 1993, p. 23.

12. Munshi, A. (1995). The Role of the Zambia Privatisation Trust Fund, Economics Association of Zambia. Privatisation Workshop: Proceedings and Resolutions, Pamodzi Hotel, 14 December 1994.

13. Ibid.14. Fundanga, C. M. and Mwaba, A. (1997). Privatization of public enterprises

in Zambia: An evaluation of the policies, procedures and experiences, Economic Research Papers No. 35, African Development Bank.

15. Rakner, L. (2003). Political and economic liberalisation in Zambia: 1991–2001. Stockholm: Nordic Africa Institute, pp. 14.

16. Zambia Airways grounded in debt, The Guardian, 5 December 1994, p. 12.17. IMF, The Fund’s Support of Member countries, 6 December 1995, Washington

DC Available: www.imf.org/external/pubs/ft/ar/96/pdf/part14.pdf [accessed 15 November 2013]. IMF, IMF Approves Three-year ESAF and One-year SAF Loans for Zambia, Press Release No. 95/62, 6 December 1995. Available at: www.imf.org/external/np/sec/pr/1995/pr9562.htm [accessed 15 November 2013].

18. Chiluba’s main goal is to put economy on road to recovery, The Guardian, 2 April 1993, p. 15.

19. Ibid., p. 15.20. National Audit Office, Management of Programme Aid: Report by the

Controller and Auditor General, Overseas Development Administration: 1994, HC 68 Session, London.

21. Ibid., p. 6.22. Ibid., p. 11.23. Szeftel, M. (2000). ‘Eat With Us’: Managing Corruption and Patronage Under

Zambia’s Three Republics, 1964–1999. Journal of Contemporary African Studies, 18(2), 207–224, 218.

24. Charges Mount against Chiluba, BBC News, 5 August 2003. Available at: http://news.bbc.co.uk/2/hi/africa/3125601.stm [accessed 21 February 2014].

230 Notes

25. North, D. C. (1991). Institutions. Journal of Economic Perspectives, 5(1), 97–112, p. 97.

26. Nelson, J. ed. (1989). Fragile coalitions: the politics of economic adjustment (No. 12). Piscataway: Transaction, p. 9.

27. Van de Walle, N. (2001). African economies and the politics of permanent crisis, 1979–1999. Cambridge: Cambridge University Press, p. i.

28. Rakner, L. (2001). The pluralist paradox: the decline of economic interest groups in Zambia in the 1990s. Development and change, 32(3), 521–543, pp. 10. Bates, R. H. and Krueger, A. O. (1993). Political and economic interac-tions in economic policy reform. Oxford: Blackwell.

29. Fraser, A. and Lungu, J. (2007). For whom the windfalls? winners and losers in the privatisation of Zambia’s copper mines. Lusaka: CSTNZ, p. 21.

30. Larmer, M. ed. (2010). The musakanya papers: the autobiography writings of Valentine Musakanya. Lusaka: Lembani Trust, pp. 49–50.

31. Janine Aron quoted in Larmer, M. (2010). Historical perspectives on Zambia’s mining booms and busts. In: Fraser, A. and Larmer, M. eds. (2010). Zambia, mining, and neoliberalism: boom and bust on the globalized Copperbelt. New York: Palgrave Macmillan, p. 41.

32. Craig, J. R. (1999). State enterprise and privatisation in Zambia 1968–1998. University of Leeds: doctoral dissertation, p. 164.

33. Fraser, A. and Larmer, M. eds. (2010). Zambia, mining, and neoliberalism: boom and bust on the globalized Copperbelt. New York: Palgrave Macmillan, p. 33.

34. Fraser, A. and Lungu, J. (2007). For whom the windfalls? winners and losers in the privatisation of Zambia’s copper mines. Lusaka: CSTNZ, p. 2.

35. As a legacy of nationalisation in 1969, and the consolidation of ZCCM in 1982, Anglo owned 27.3 percent of ZCCM. Africa Economic Digest, The New African, 25 January 1994, p. 33.

36. Ibid., p. 33.37. Craig, J. R. (1999). State enterprise and privatisation in Zambia 1968-1998.

University of Leeds: doctoral dissertation, p. 169.38. Rio Tinto Zinc (1992). Valuation Report: Zambia Consolidated Copper

Mines, 18 August 1992, LE-42488, Rio Tinto Research, London.39. Calculated from ZCCM Annual Reports (1990 to 1998). In: Craig, J. R.

(1999). State enterprise and privatisation in Zambia 1968–1998. University of Leeds: doctoral dissertation, p. 167.

40. Paul Kapinga, Minister of Mines, quoted in: Craig, J. R. (1999). State enter-prise and privatisation in Zambia 1968–1998. University of Leeds: doctoral dissertation, footnote 15, p. 167.

41. Kenny, T. (2000). Zambia, deregulation and the denial of human rights. Oxford: RAID, pp. 215–218.

42. Ibid.43. Mines’ sale – the inside story, Times of Zambia, 8 April 1998, p. 1.44. Coakley, G. J. (1998). The Mineral Industry of Zambia, US Geological Survey.

Virginia: Reston, p. 1.45. Kafue Consortium finally abandons ZCCM’s mines bid, The Post of Zambia,

10 June 1998, p. 1. Kafue consortium shrinks by half, The Northern Miner, 6 August 1998, p. 4.

46. Codelco Mines Sale Deal Flops, The Post of Zambia, 27 August 1999, p. 1.

Notes 231

47. Anglo buys ZCCM, IRIN News, 29 October 1999.48. For a detailed and somewhat sympathetic account of the privatisation pro-

cess, see Kenny, T. (2000). Zambia, deregulation and the denial of human rights. Oxford: RAID, pp. 215–218.

49. Craig, J. R. (1999). State enterprise and privatisation in Zambia 1968–1998. University of Leeds: doctoral dissertation, p. 198.

50. Fraser, A. and Lungu, J. (2007). For whom the windfalls? Winners and losers in the privatisation of Zambia’s copper mines. Lusaka: CSTNZ, pp. 2.


52. U.S. Geological Survey, Copper Statistical Compendium. Available at: http://minerals.usgs.gov/minerals/pubs/commodity/copper/stat/ [accessed 25 October 2013]. Mwanakatwe, J. M. (2003). John M. Mwanakatwe: teacher, politician, lawyer: my autobiography. Lusaka: Bookworld, p. 194.

53. Fraser, A. and Lungu, J. (2007). For whom the windfalls? Winners and losers in the privatisation of Zambia’s copper mines. Lusaka: CSTNZ, p. 5.

54. Ibid., p. 5.55. ZCI strategic review of investment in Konkola Copper Mine, Anglo

American, 24 January 2002. Available at: www.angloamerican.com/media/releases/2002pr/2002-01-24 [accessed 13 November 2013].

56. Official Statement from the Government of the Republic of Zambia on the closing of KCM. In: Zambia gov says copper mines will not close, Engineering News, 25 January 2002, p. 1.

57. Rakner, L. (2003). Political and Economic Liberalisation in Zambia: 1991-2001. Stockholm: Nordic Africa Institute, pp. 148.

58. World Bank, Project Performance Assessment Report – Zambia, 2003. Available at: www.worldbank.org/en/country/zambia/projects/operational-documents?qterm=&docty_exact=Project+Performance+Assessment+Report [accessed 18 November 2013]. World Bank, Zambia public sector reform and export promotion credit, project information document, 1997. Washington DC: World Bank. Available at: http://documents.worldbank.org/curated/en/1997/08/440737/zambia-public-sector-reform-export-promotion-credit-project [accessed 18 November 2013].

59. IMF, Fact Sheet: Debt Relief Under the Heavily Indebted Poor Countries (HIPC) Initiative, 1 October 2013. Available at: www.imf.org/external/np/exr/facts/hipc.htm [accessed on 14 November 2013].

60. World Bank, World Development Indicators, Zambia: External debt stocks, total (dispersed and outstanding debt, current US$). Available at: http://databank.worldbank.org/ [accessed 11 December 2013].

61. Le fonds Africain de developpement (2001). Zambia – HIPC approval Document – Decision point, July 2001. Available at: www.afdb.org/ fileadmin/uploads/afdb/Documents/Financial-Information/ADB-BD-WP-2001-07-EN-HIPC-ZAMBIA-BOARD-APPROVAL-DOC-REVISED-ECA-18-JAN.PDF [accessed on 14 November 2013].

62. ibid.63. Asiedu, E. (2003). Debt relief and institutional reform: a focus on Heavily

Indebted Poor Countries. The Quarterly Review of Economics and Finance, 43(4), 614–626, p. 623.

232 Notes

64. Williamson, J. (2000). What should the World Bank think about the Washington Consensus?. The World Bank Research Observer, 15(2), 251–264, p. 262.

65. Laryea, T. (2010). Donegal v. Zambia and the Persistent Debt Problems of Low-Income Countries. Law and Contemporary Problems, 73, 193–200.

66. Ibid.67. Zambia pays ‘vulture fund’ $15m, BBC News, 24 April 2007. Available at:

http://news.bbc.co.uk/2/hi/ business/6589287.stm [accessed 18 November 2013].

68. Action Aid Denmark, Zambia’s HIPC Completion Point – a Never-ending Story? September 2004. Available at: www.actionaid.dk/sw15154.asp?usepf=true [accessed 11 November 2013].

69. IMF, IMF and World Bank Support US$3.90 Billion in Debt Service Relief for Zambia, Press Release No. 05/80, 8 April 2005. Available at: www.imf.org/external/np/sec/pr/2005/pr0580.htm [accessed 18 November 2013]. In May 2003 the ZPA starts to receive bids for ZANACO, eventually 49% would be sold to Rabobank in 2007. Jesuit Centre for Theological Reflection (2005). The Meaning to the HIPC Completion Point to Zambia, is it Worthwhile? Available at: www.jctr.org.zm/downloads/hipcmeang.pdf [accessed 18 November 2013].

70. US boosts Zambia with Debt Relief, BBC News, 31 December 2005. Available at: http://news.bbc.co.uk/2/hi/africa/4571652.stm [accessed 18 November 2013].

71. Cheap imports to stop, Times of Zambia, 1 July 2001. Zambia to Enact Law to Protect Local Industry, Xinhua News, 2 July 2001.

72. Zeng, D. Z. ed. (2010). Building engines for growth and competitiveness in China: experience with special economic zones and industrial clusters. Washington DC: World Bank. World Bank, Special Economic Zones: Performance, Lessons Learned, and Implications for Zone Development, 2008. Washington DC: World Bank, p. 9. Nishitateno, S. (1983). China’s Special Economic Zones: experimental units for economic reform. International and Comparative Law Quarterly, LQ 32:175.

73. World Bank, Special Economic Zones: Performance, Lessons Learned, and Implications for Zone Development, 2008. Washington DC: World Bank, p. 9, 12.

74. Hamada, K. (1974). An economic analysis of the duty-free zone. Journal of International Economics, 4(3), 225–241, 225.

75. Farole, T. (2011). Special Economic Zones in Africa: Comparing Performance and Learning from Global Experiences. Washington DC: World Bank, p. 191.

76. Rodriguez, C. A. (1976). A note on the economics of the duty free zone. Journal of International Economics, 6(4), 385–388.


78. Ibid., p. 182.79. GRZ, The Export Processing Zones Act of 2001, Parliamentary Library, Lusaka.80. ZACCI, ZAM ponder Export Processing Zones Act, Times of Zambia,

20 November 2001, p. 1. ZAM Still Awaiting Final Notification on Export Act, Times of Zambia, 18 December 2001, p. 1.

Notes 233

81. Service Centre for EPZs Coming, Times of Zambia, 18 December 2001, p. 1. EPZ Info Centres to be Operational Early, Times of Zambia, 2002. 19 December 2001. Investors Jostle for Share of Business in Ndola, Times of Zambia, 23 January 2002.

82. IMF, Zambia: Poverty Reduction Strategy Paper Progress Report. IMF Country Report No. 05/112, March 2005. ZAM Still Awaiting Final Notification on Export Act, Times of Zambia, 18 December 2001.

83. Economics Association of Zambia, Deepening Economic Diversification in Zambia: Towards the Transformation of the Copperbelt, Summary Workshop Report, 3–5th June 2002, Kitwe Hotel, 18 June 2002. Available at: www.eaz.org.zm/downloads/file/200807022033450.DIVESIFICATION-FORUM%20REPORT.pdf [accessed 2 December 2013]. Government Says Export Processing Zones Would Assist in Lowering Production Costs, Times of Zambia, 16 December 2002.

84. Can EPZ Survive Where Other Similar Ideas Have Failed?, Times of Zambia, 5 December 2002. Zambia Export Processing Zones Authority Starts to Operate. Xinhua News, 14 April 2003.

85. IMF, Zambia: Poverty Reduction Strategy Paper Progress Report. IMF Country Report No. 05/112, March 2005. Export Processing Zone Licenses Ban Makes Inter Trade Institute Sad, Times of Zambia, 10 December 2003.

86. World Bank Sends Back Zambia’s EPZ Act Proposal, The Post, 30 March 2004, p. 1.

87. World Bank, IMF Set Conditions for EPZs, Times of Zambia, 13 July 2004, p. 1.

88. Interview with Michael Sata, Leader of the Patriotic Front (later President of Zambia), Oxford, 1 May 2011.

89. Kragelund, P. (2009). Knocking on a wide open door: Chinese investment in Zambia, Review of African Political Economy, 36(122), 479–497.

90. Haglund, D. (2008). Regulating FDI in weak African states: a case study of Chinese copper mining in Zambia. Journal of Modern African Studies, 46(4), p. 547.

91. Interview with Sibajene Munkombwe, Senior Research Officer, Research, Planning & Policy Division, ZDA, Lusaka, 29 March 2011.

92. Bhatia, A. and White, O. C. C. (1999). Privatization in Africa. Washington DC: World Bank.

93. Szeftel, M. (2000). ‘Eat With Us’: Managing Corruption and Patronage Under Zambia’s Three Republics, 1964–1999. Journal of Contemporary African Studies, 18(2), 207–224, p. 222. White, H. (1997). Zambia in the 1990s as a case of adjustment in Africa. African Development Review, 9(2), 56–87, p. 80.

94. McPherson, M. F. (1995). The sequencing of economic reforms: Lessons from Zambia (No. 516). Cambridge, Massachusetts: Harvard Institute for International Development, p. 22.

95. Rakner, L. (2001). The pluralist paradox: the decline of economic interest groups in Zambia in the 1990s. Development and Change, 32(3), 521–543.

96. Haggard, S., Webb, S. B. eds. (1994). Voting for reform: democracy, politi-cal liberalization, and economic adjustment. New York: Oxford University Press. Haggard, S. and Kaufman, R. R. eds. (1995). The political economy

234 Notes

of democratic transitions. Princeton: Princeton University Press. Nelson, J. M. (1994). Labor and Business Roles in Dual Transitions: Building Blocks or Stumbling Blocks? In: Nelson, J. M. ed. (1994). Intricate Links: Democratization and Market Reforms in Latin America and Eastern Europe. New Brunswick: Transaction Publishers.

97. Van de Walle, N. (2001). African economies and the politics of permanent crisis, 1979–1999. Cambridge: Cambridge University Press.

98. Rakner, L. (2003). Political and economic liberalisation in Zambia: 1991–2001. Stockholm: Nordic Africa Institute, p. 16.

99. Van de Walle, N. (2001). African economies and the politics of permanent crisis, 1979–1999. Cambridge: Cambridge University Press, p. 49.

100. Cooke, R. A. and Lafferty, J. C. (1983). Level V: Organizational Culture Inventory (Form I). Plymouth: Human Synergistics.

101. Johnson, G. (1992). Managing strategic change—strategy, culture and action. Long range planning, 25(1), 28–36, p. 29. Kotter, J. P. (1995). Leading change: why transformation efforts fail. Harvard Business Review, 73(2), 59–67.

102. Ibid., p. 65.103. Van de Walle, N. (2001). African economies and the politics of permanent crisis,

1979–1999. Cambridge: Cambridge University Press. Carothers, T. (2002). The end of the transition paradigm. Journal of Democracy, 13(1), 5–21.

104. Kotter, J. P. (1995). Leading change: why transformation efforts fail. Harvard Business Review, 73(2), p. 60.

105. Nelson, J. M. ed. (1989). Fragile coalitions: the politics of economic adjust-ment (No. 12). Piscataway: Transaction, p. 4.

106. Lungu, J. (2008). Copper mining agreements in Zambia: renegotiation or law reform?. Review of African Political Economy, 35(117), 403–415, p. 403.

107. Fraser, A. and Lungu, J. (2007). For whom the windfalls? Winners and losers in the privatisationof Zambia’s copper mines. Lusaka: CSTNZ. Fraser, A. and Larmer, M. eds. (2010). Zambia, mining, and neoliberalism: boom and bust on the globalized Copperbelt. New York: Palgrave Macmillan.

108. Craig, J. R. (2000). Evaluating privatisation in Zambia: a tale of two pro-cesses. Review of African Political Economy, 27(85), 357–366, p. 364.

109. World Bank, World Development Indicators, Zambia: GDP per cap-ita (Constant 2005 US$). Available at: http://databank.worldbank.org/ [accessed 11 December 2013].

8 Inclusion: Stability and Growth (2005–2014)

1. See Figure 8.1 below. Average investment between 2000 and 2005 amounted to USD 276 million per year and began to grow significantly after 2005. World Bank, World Development Indicators, Zambia: Foreign direct investment – net inflows ( balance- of- payments, USD). Available at: http://databank.worldbank.org/ [accessed 11 December 2013].

2. Investment pledges total US$4.3 billion, Lusaka Times, 16 November 2012. Available at: www.lusakatimes.com/2012/11/16/ investment- pledges- total- us43- billion/ [accessed 11 December 2013].

Notes 235

3. World Bank, World Development Indicators, Zambia: Foreign direct investment – net inflows ( balance- of- payment, USD). Available at: http://databank.worldbank.org/ [accessed 11 December 2013].

4. Asiedu points out that while FDI increased by 218% in Africa between 1980s and 1990s, the same figures for East Asia (990%), Latin America (556%) and South Asia (789%), are much more impressive. Asiedu, E. (2004). Policy reform and foreign direct investment in Africa: Absolute progress but relative decline. Development Policy Review, 22(1), 41– 48, 41.


6. Haglund, D. (2008). Regulating FDI in weak African states: A case study of Chinese copper mining in Zambia. Journal of Modern African Studies, 46(4), 547.

7. Mining Companies Could See Big Profits in Congo, The OTC Investor, 26 October 2010. Available at: http://theotcinvestor.com/ mining- companies- could- see- big- profits- in- congo- 855/ [accessed 14 December 2013].

8. Investment pledges total US$4.3 billion, Lusaka Times, 16 November 2012. Available at: www.lusakatimes.com/2012/11/16/ investment- pledges- total- us43- billion/ [accessed 11 December 2013].

9. GRZ, The Zambia Development Agency Act no. 11 of 2006, Parliamentary Archive, Lusaka.

10. United Nations, Investment Policy Review: Zambia, United Nations Conference on Trade and Development, 2006, Geneva. Available at: http://unctad.org/en/docs/iteipczambia_en.pdf [accessed 21 November 2013], p. 57.

11. Ibid., pp. 17– 18.12. Ibid., p. 7.13. GRZ, The Privatisation Act of 1992, Section II, part 8.2 i), Parliamentary

Library, Lusaka. Munshi, A. (1995). The Role of the Zambia Privatisation Trust Fund, Economics Association of Zambia. Privatisation Workshop: Proceedings and Resolutions, Pamodzi Hotel, 14 December 1994. Cheap imports to stop, Times of Zambia, 1 July 2001, p. 1.

14. Zan Baosen, general manager Zambia- China Economic and Trade Cooperation Zone, quoted in: Zambia – Chambishi MFEZ investment rises, iZambia News, 25 January 2013. Available at: www.izambia.co.zm/news/africa/item/ 28807- zambia- chambishi- mfez- investment- rises.html [accessed 27 November 2013].

15. GRZ, Ministry of Foreign Affairs, Visit to Japan of His Excellency Mr Levy Patrick Mwanawasa, announcement by the Press Secretary/ Director- General for Press and Public Relations, 24 December 2004.

16. Task Team on South- South Cooperation, Japan- Zambia- Malaysia – Investing in the Triangle of Hope, case study from the Task Team on South- South Cooperation. Available at: www.impactalliance.org/ev_en.php?ID=49126_201&ID2=DO_TOPIC [accessed 12 December 2013].

17. Zambia Needs to Adopt MFEZ, Times of Zambia, 14 June 2005. Also con-firmed in an interview with Mr Shedrick Salili, Senior MFZ analyst, Zambian Development Agency, Lusaka, 29 March 2011.

236 Notes

18. Triangle of Hope, Strategic Action Initiative for Economic Development, Japan International Cooperation Agency. Available at: www.jica.go.jp/zambia/english/activities/pdf/03_ToHSAIED.pdf [accessed 12 December 2013]. Task Team on South- South Cooperation, Japan- Zambia- Malaysia – Investing in the Triangle of Hope, case study from the Task Team on South- South Cooperation. Available at: www.impactalliance.org/ev_en.php?ID=49126_201&ID2=DO_TOPIC [accessed 12 December 2013].

19. World Bank, Zambia: Diagnostic Trade Integration Study, Country Trade Diagnostic Studies, 2005. Washington DC: World Bank. GRZ, The Zambia Development Agency Act no. 11 of 2006, Parliamentary Archive, Lusaka.

20. GRZ, Daily Parliamentary Debate, 14 March 2006, Parliamentary Library, Lusaka.

21. Zambia Development Agency (2006). The Multi- Facility Economic Zones, ZDA, Lusaka.

22. United Nations, Conference on Trade and Development, Blue Book on Best Practice in Investment Promotion and Facilitation: Zambia, 2006. Available at: http://unctad.org/en/docs/iteipcmisc20063_en.pdf [accessed 12 December 2013].

23. Zambian Development Agency (2011) Background. Available at: www.zda.org.zm/node/152 [accessed on 28 May 2011].

24. Zambia Development Agency (2011). Zambia’s Investor Guide, June 2011 Edition, Lusaka, pp. 7– 8.

25. Ibid., p. 7.26. Interviews with Mrs Sharon Sichilongo, Senior Planning and Policy Officer,

and Mr Shedrick Salili, Senior MFZ analyst, 28 and 29 March 2011, Zambian Development Agency, Lusaka.

27. Brautigam, D., Xiaoyang, T. (2011). African Shenzhen: China’s special economic zones in Africa. Journal of Modern African Studies, 49(1), 27– 54.

28. Obiorah, N.,(2007). Who’s afraid of China in Africa? Towards an African civil society perspective on China- Africa relations. African Perspectives on China in Africa, 35– 56, 53.

29. Ferguson, J. (2007). Global Shadows: Africa in the Neoliberal World Order, Duke University Press, pp. 13,203.

30. Ibid., p. 203.31. Ghandour, M. M. (1975). Dualistic Development: A New Approach, The

Developing Economies, 13(3), 243– 251.32. Japan International Cooperation Agency (2009). Zambia: Africa’s New

Frontier for Investments and Profits. Available at: www.jica.go.jp/for/ business/pdf/invest_zam_01.pdf [accessed 3 March 2011].

33. People’s Republic of China (2006). Hu Jintao Meets with Burundian President, President of the Somali Interim Government, Speech by President Hu Jintao to China- African Summit, Beijing, 4 November 2006, Forum on China- Africa Cooperation. Available at: www.focac.org/eng/tptb/t404200.htm [accessed 11 May 2009].

34. China Launches First African Economic and Trade Zone. Xinhua News, 5 February 2007. Available at: www.china.org.cn/english/BAT/198844.htm [accessed 12 December 2013].

35. Gadzala, A. W. (2010). From formal- to informal- sector employment: exam-ining the Chinese presence in Zambia. Review of African Political Economy, 37(123), 41– 59.

Notes 237

36. Zambia- China Cooperation Zone (2011). General Introduction of Zambia- China Economic & Trade Cooperation Zone, ZDA, Lusaka. Zambia Commits 1mln USD to Development of Economic Zone. People’s Daily Online, 21 July 2007. Available at: http://english.people.com.cn/90001/90777/6221111.html [accessed 12 December 2013].

37. Interview with Sibajene Munkombwe, Senior Research Officer, Research, Planning & Policy Division, ZDA, Lusaka, 29 March 2011.

38. Interview with Shedrick Salili, Senior MFZ analyst, Zambian Development Agency, ZDA, Lusaka, 29 March 2011.

39. Government Declares Solwezi as an Economic Zone, Lusaka Times, 3 December 2008. Available at: www.lusakatimes.com/2008/12/03/ govt- declares- solwezi- as- an- economic- zone/ [accessed 12 December 2013].

40. Mutati, F. (2007). Speech given at the NEPAD- OECD Africa Investment Initiative Roundtable, 27 November 2007.

41. Chinese Firms to Invest Millions at Chambishi. Lusaka Times, 22 April 2010. Available at: www.lusakatimes.com/2010/04/22/ chinese- firms- nvest- million- chambishi/ [accessed 12 December 2013].

42. NFCM Plan to Invest in Chambishi South Mine in Zambia, Steel Guru, 7 July 2010.

43. World Bank, World Development Indicators, Chile: Foreign direct invest-ment - net inflows ( balance- of- payment, current US$). Available at: http://databank.worldbank.org/ [accessed 11 December 2013].

44. The Patriotic Front (2011). Manifesto 2011– 2016, Section 20, PF, Lusaka. Investment pledges total US$4.3 billion, Lusaka Times, 16 November 2012. Available at: www.lusakatimes.com/2012/11/16/ investment- pledges- total- us43- billion/ [accessed 12 December 2013].

45. Barrick Seen Trumped as Equinox Belies Top Valuation: Real M&A, Bloomberg News, 26 April 2011. Available at: www.bloomberg.com/news/ 2011– 04- 26/ barrick- seen- trumped- as- equinox- belies- top- valuation- real- m- a.html [accessed 12 December 2013]. Barrick Gold increases investment in Zambian mine, Xinhua News, 4 August 2011. Available at: http://news. xinhuanet.com/english2010/business/ 2011– 08/04/c_131029862.htm [accessed 27 November 2013].

46. Chambishi MFEZ investment rises, iZambia News, 25 January 2013. Available at: www.izambia.co.zm/news/africa/item/ 28807- zambia- chambishi- mfez- investment- rises.html [accessed 27 November 2013].

47. Ibid.48. Tordoff, W. ed. (1974). Politics in Zambia. Berkeley: University of California

Press, pg 384. Zambian Anglo American Limited (1969). Statement by the Chairman, Mr H. F. Oppenheimer, 10 December 1969.

49. Zambian politics trip up First Rand, Mail and Guardian, 22 February 2013, p. 1.

50. Zambian govt takes over private bank, Elias Mbao, African Review, 11 December 2010. Available at: www.africareview.com/ Business— Finance/-/979184/1070690/-/384ndg/-/index.html [accessed 10 August 2013].

51. Finance Bank: A real test case for Zambia, Lusaka Times, 4 January 2011. Available at: www.lusakatimes.com/2011/01/04/ finance- bank- real- test- case- zambia/ [accessed 12 December 2013].

52. Mahtani arrested for alleged money laundering, The Post, 4 August 2010, p. 1.

238 Notes

53. Zambia’s Sata Reverses First Rand’s Purchase, Fires Central Bank Board, Bloomberg News, 3 October 2011. Available at: www.bloomberg.com/news/ 2011– 10- 03/ zambia- reverses- firstrand- s- purchase- fires- central- bank- board.html [accessed 12 December 2013].

54. Ibid.55. Zambian politics trip up First Rand, Mail and Guardian, 22 February

2013, p. 1.56. Ibid.57. Sata vows to re- nationalise Zamtel once in power, The Post, 15 January

2010, p. 1.58. High Court allows LAP Green to take case to neutral country, Government to

appeal decision, Lusaka Times, 30 March 2013. Available at: www. lusakatimes.com/2013/03/30/ high- court- allows- lap- green- to- take- case- to- neutral- country- government- to- appeal- decision/ [accessed 12 December 2012].

59. President Sata appoints Dr Mupanga Mwanakatwe, Chairman and acting CEO of ZAMTEL, Lusaka Times, 24 January 2012. Available at: www.lusakatimes.com/2012/01/24/ president- sata- appoints- dr- mupanga- mwanakatwe- chairman- acting- ceo- zamtel/ [accessed 12 December 2013].

60. LAP Green demands $480 million in Zamtel compensation, Lusaka Times, 19 March 2012. Available at: www.lusakatimes.com/2012/03/19/ lap- green- demands- 480- million- zamtel- compensation/ [accessed 12 December 2012].

61. High Court allows LAP Green to take case to neutral country, Government to appeal decision, Lusaka Times, 30 March 2013. Available at: www.lusaka-times.com/2013/03/30/ high- court- allows- lap- green- to- take- case- to- neutral- country- government- to- appeal- decision/ [accessed 12 December 2012].

62. Zambian Watchdog, Zamtel MD Mwanakatwe to award himself Billions Kwacha contract, Zambian Watchdog, 19 January 2013. Available at: www.zambianwatchdog.com/?p=49554 [accessed 12 December 2012].

63. Sata Assures Investors, Workers on Zamtel, Times of Zambia, 23 January 2012, p. 1.

64. Government to constitute a Commission of Inquiry to probe the sale of ZANACO to Rabobank of the Netherlands, Lusaka Times, 31 December 2011. Available at: www.lusakatimes.com/2011/12/31/ government- constitute- commission- inquiry- probe- sale- zanaco- rabobank- netherlands [accessed 12 December 2012]. President Michael Sata sets ZANACO as next target, Lusaka times, 28 January 2012. Available at www.lusakatimes.com/2012/01/28/ president- michael- sata- sets- zanaco- target/ [accessed 12 December 2012].

65. Zambian Watchdog, ZANACO sale was through competitive tender, MD tells inquiry, Zambian Watchdog, 6 February 2012. Available at: www.zambian-watchdog.com/?p=30276 [accessed 12 December 2012].

66. Sata’s statement on Zanaco was premature, The Post, 21 May 2012, p. 1.67. No Nationalisation, Insists Government, Times of Zambia, 23 May 2012, p. 1.68. Sata vows to re- nationalise Zamtel once in power, The Post, 15 January

2010, p. 1.69. Zambia ends railway deal with SA investor, City Press, 15 September 2012.

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70. Zambian Watchdog, PF Announces Nationalisation of the Railways, 10 September 2010. Available at: www.zambianwatchdog.com/2012/09/10/

Notes 239

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71. Zambia ends railway deal with SA investor, City Press, 15 September 2012. Available at: www.citypress.co.za/business/ zambia- ends- railway- deal- with- sa- investor- 20120915/ [accessed 12 December 2012].

72. Government may not compensate the Railway Systems of Zambia (RSZ)- Attorney General, Lusaka Times, 12 September 2012. Available at: www.lusakatimes.com/2012/09/12/ government- compensate- railway- systems- zambia- rszattorney- general/ [accessed 12 December 2012].

73. Gordon, A. (1972). The Prospects for new Mine Investments. In: Bostock, M., Harvey, C. eds. (1972). Economic Independence and Zambian Copper: A case study of foreign investment. New York: Praeger, p. 207.

74. Sakanga, L. (2012). Zambia railways thesis report, University of Zambia, Lusaka, pg 51.

75. Government may not compensate the Railway Systems of Zambia (RSZ)- Attorney General, Lusaka Times, 12 September 2012. Available at: www.lusakatimes.com/2012/09/12/ government- compensate- railway- systems- zambia- rszattorney- general/ [accessed 12 December 2012].

76. Government contracts USD110 million since reaching HIPC, Lusaka Times, 10 July 2007. Available at: www.lusakatimes.com/2007/07/10/ government- contracts- usd110- million- since- reaching- hipc/ [accessed 12 December 2012].

77. Ibid.78. Quote from Muyatwa Sitali, project officer for debt and trade at the

Jesuit Centre for Theological Reflection. In: United Nations, Office for the Coordination of Humanitarian Affairs, Zambia: Civil society warns against more borrowing, 11 July 2007. Available at: www.irinnews.org/report/73193/ zambia- civil- society- warns- against- more- borrowing [accessed 12 December 2012].

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240 Notes

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9 Zambia’s 50-year Relationship with Foreign Capital

1. Ajayi, J. A. (1982). Expectations of independence. Daedalus, 111(2), 1– 9, 2.2. Shaw, T. M. (1976). The foreign policy of Zambia: ideology and interests.

Journal of Modern African Studies, 14(1), 79– 106, 81.3. Kaunda, K. D. (1967). Humanism in Zambia and a guide to its implementation,

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Part II. Lusaka: Zambia information services, p. 53.

Notes 241

5. Ensminger, J. and Knight, J. (1997). Changing social norms: common prop-erty, bridewealth, and clan exogamy. Current Anthropology, 38(1), 1– 24.

6. Hall, R. (1969). The high price of principles: Kaunda and the white South. Boulder: Holmes and Meier, p. 6.

7. Hamilton, A. and Madison, J. (1788). The Structure of the Government Must Furnish the Proper Checks and Balances Between the Different Departments, The Federalist Papers No. 51, Independent Journal, 6 February 1788.

8. Sipalo, N. (1978). Constitutional development in Zambia, 1890– 1975, Unpublished LL.M dissertation, Faculty of Law, University of Zambia. Available at: http://dspace.unza.zm:8080/jspui/handle/123456789/957 [accessed 11 December 2013].

9. Speech given by Prime Minister of Zimbabwe Rhodesia Mr. Abel Muzorewa, 20 November 1979, ITN news. Available at: www.itnsource.com/shotlist//RTV/1979/11/22/BGY511150301/?s=rhodesia [accessed 10 October 2013].

10. Bates, R. H. (1981). Markets and states in tropical Africa: the political basis of agricultural policies. Berkeley: University of California Press.

11. Minutes of UNIP National Council, resolution to adopt Zambian policy of humanism, 26 April 1966, UNIP 1/1/6/48, UNIP Archive, Lusaka, Appendix C.

12. Larmer, M. ed. (2010). The Musakanya papers: The autobiography writings of Valentine Musakanya. Lusaka: Lembani Trust, pp. 49– 50.

13. Unsigned brief to Minister of Finance, July 1971, UNIP 7/5/7, UNIP Archive, Lusaka.

14. Loans policy committee report, 12 June 1976, UNIP 7/5/13, UNIP Archive, Lusaka.

15. World Bank, World Development Indicators, Zambia: Gross Capital Formation (Current US$). Available at: http://databank.worldbank.org/ [accessed 11 December 2013].

16. Ibid.17. Meller, P. and Simpasa, A. (2011). Role of Copper in the Chilean &

Zambian Economies: Main Economic and Policy Issues, Global Development Network, Working Paper No. 43, June 2011. U.S. Geological Survey, Copper Statistical Compendium, Available at: http://minerals.usgs.gov/minerals/pubs/ commodity/copper/stat/ [accessed 25 October 2013].

18. GRZ, Restructuring in the Midst of Crisis, Background Paper for the Consultative Group for Zambia in Paris, 22– 24 May 1984, Volume 1, p. 25, Volume 2, pp. 9– 11.

19. North, D. C. and Weingast, B. R. (1989). Constitutions and commitment: the evolution of institutions governing public choice in seventeenth- century England. The Journal of Economic History, 49(04), 803– 832, 803. Acemoglu, D., Johnson, S. and Robinson, J. A. (2002). Reversal of fortune: Geography and institutions in the making of the modern world income distribution. The Quarterly Journal of Economics, 117(4), 1231– 1294.

20. Barber, J. D. (1992). The presidential character, 4th ed. Englewood Cliffs: Prentice- Hall.


242 Notes

22. Friedman, M. (1977). Nobel lecture: inflation and unemployment, The Journal of Political Economy, 451– 472, 468. Rodrik, D. (1991). Policy uncer-tainty and private investment in developing countries. Journal of Development Economics, 36(2), 229– 242.

23. Bostock, M. and Harvey, C. eds., (1972). Economic independence and Zambian copper: A case study of foreign investment. New York: Praeger, p. 204.

24. Oxford dictionaries, Oxford University Press, Available online at: www.oxforddictionaries.com/us/definition/american_english/inertia [accessed 10 Februray 2014].

25. Kaunda, K. (1968). Speech: Zambia towards economic Independence. In: Fortman, B. D. G. ed., (1969). After Mulungushi: the Economics of Zambian Humanism. Nairobi: East African Publishing House, p. 60

26. Seers, D. (1964). Economic Survey Mission on the Economic Development of Zambia, Report of the UN/ECA/FAO. Ndola: Falcon Press. Letter from Sardanis to Kaunda reiterating the need to enter partnerships with a profit motive, 19 August 1965, 84/INDECO/1/65/64, National Archive, Lusaka.


28. MPs to have pay increases, Times of Zambia, 15 September 1976, p. 1. Letter of confirmation for 20 Mercedes Benz, 30 November 1978, UNIP 8/315/73 and UNIP 8/11/11, UNIP Archive, Lusaka. Zambia buys Soviet MiGs, The Calgary Herald, 8 February 1980, p. 11. Moscow selling MiGs to Zambia, The Guardian, 2 February 1980, p. 6.

29. Zambia deports editor, The Guardian, 7 April 1979, p. 6. Kaunda arrests crit-ics, The Guardian, 11 September 1979, p. 7.

30. World Bank, World Development Indicators, Zambia: GDP per capita (con-stant 2005 US$). Available at: http://databank.worldbank.org/ [accessed 11 December 2013].

31. North, D. C. (1990). Institutions, institutional change and economic performance. Cambridge: Cambridge University Press, p. 89.

32. Kotter, J. P. (1995). Leading change: why transformation efforts fail. Harvard business review, 73(2), 59– 67.

33. Van de Walle, N. (2001). African economies and the politics of permanent crisis, 1979– 1999. Cambridge: Cambridge University Press.

34. World Bank, World Development Indicators, Zambia: GDP per capita (con-stant 2005 US$). Available at: http://databank.worldbank.org/ [accessed 11 December 2013].

35. Minutes of UNIP National Council, resolution to adopt Zambian policy of humanism, 26 April 1966, UNIP 1/1/6/48, Appendix C, UNIP Archive, Lusaka. Kaunda, K. D. (1969). Towards complete independence, address given to UNIP National Council, 11 August 1969, Mulungushi Hall, Lusaka. In: Fortman, B. D. G. ed., (1969). After Mulungushi: the Economics of Zambian Humanism. Nairobi: East African Publishing House.

36. Faber, M. L. O. and Potter, J. G. (1971). Towards economic independence: papers on the nationalization of the copper industry in Zambia. Cambridge: Cambridge University Press, p. 1. Harvey, C. (1971). Financial constraints on Zambian development. In: Elliott, C. ed., (1971). Constraints on the Economic Development of Zambia. Nairobi: Oxford University Press, p. 122. Martin, A. (1972). Minding their own business: Zambia’s struggle against Western control.

Notes 243

Harmondsworth: Penguin. McPherson, M. F. (1995). The sequencing of eco-nomic reforms: Lessons from Zambia, Working Group on Economic Reform in the Context of Political Liberalisation for Africa, Paris 9– 10 November 1995, Ministry of Foreign Affairs, Netherlands, p. 55.

37. Acemoglu, D. and Robinson, J. (2012). Why nations fail: the origins of power, prosperity, and poverty. London: Profile Books. Robinson, J. (2013). Why Regions Fail: The Mexican Case, Harvard University Case Study. Available at: http://scholar.harvard.edu/files/jrobinson/files/why_regions_fail.docx [accessed 13 January 2014].

244

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Anglo American Corporation, ZCI strategic review of investment in Konkola Copper Mine, 24 January 2002. Anglo American, London.

Bache Commodities Limited, Zambian copper holdings, Comment, Wall Street Journal, 21 September 1973.

Barclays de Zoete Wedd, Copper Sector Report, 22 December 1990, BZW1990– 4723, Barclays Capital, London.

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British South Africa Company, Charter, London Gazette, 20 December 1889.Cabinet Office to INDECO, 13 loans to UNIP officials have been approved by

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Chitambala, Chief Political Advisor to Kaunda, to the Director General of ZIMCO, 7 September 1981, UNIP 7/27/7/158, UNIP Archive, Lusaka.

Chona, UNIP National Secretary, to Chimba, Minister of Commerce, question over who is included in the new law. 27 August 1968, UNIP 7/1/3, UNIP Archive, Lusaka.

Chona to Kaunda complaining about how a senior UNIP official has taken over Indian shop in Monza, 5 July 1969, HM84/INDECO/1/69/6, National Archive, Lusaka.

Chona to all Regional Secretaries, 1969 Membership Cards, 29 August 1969, UNIP 1/1/12/68, UNIP Archive, Lusaka.

Chona, review of the SNDP, 25 April 1974, UNIP 1/26/ 269– 272, UNIP Archive, Lusaka.

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275

AAcemoglu, Daron, 2, 31, 66, 114,

174, 183Acheson, Denis, 82African Development Bank, 126, 172African National Congress (ANC), 14,

42, 108Agricultural Development Plan, 106agriculture, 25, 112, 117, 123, 164Aitken, Brian, 26Ajayi, Ade, 178–9Albetter Albronze Limited, 165Alwang, Jeffrey, 24American Metal Climax Inc. (AMAX),

5, 85and British Selection Trust, 15investment in Zambia, 45

Amundsen, Inge, 32, 66ANC. See African National Congress

(ANC)Andrews, Matt, 134Anglo American (Anglo), 8, 15, 97

disinvestment by, 61, 66, 76, 86, 89, 92, 189

share in copper mining in Zambia, 20

Zambian mining operations and, 81Anglo American Corporation of

South Africa (Anglo), 142Arab Bank, 172Aron, Janine, 28, 36–7, 115, 123, 142Arusha Declaration, 60Asiedu, Elizabeth, 30, 35, 147, 160Austin, Gareth, 2, 33Auty, Richard, 22, 92Avmin, 143

BBache Commodities, 85balance-of-payments (BOP)

crisis in Zambia, 10, 11first balance-of-payments crisis,

93–116

international emergency committee, formation of, 78–9

negative, 80, 184second balance-of-payments crisis,

118–32unconditional IMF support and,

93, 95Banda, Henry, 169Banda, Rupiah, 167Bankers’ Association of Zambia, 139Bank of Canada, 132Bank of Zambia (BoZ), 6, 24, 69, 77,

93, 120, 139, 166Baosen, Zan, 165Barber, James, 63, 183Barclays Bank, 67–8Barclays Capital, 172Barclays de Zoete Wedd (BZW), 132Barrick Gold, 165Barry, Frank, 96Bates, Robert, 26, 88, 100, 117, 125Berg, Elliot, 117Bevan, David, 23black hole industries, 136Bloom, David, 2Bloomberg Finance L.P., 7Bloomberg News, 5Boettke, Peter, 31Bornemann, Edwin, 120borrowings

foreign, 91, 95, 107renewed, 171–4unsustainable, 67

Bostock, Mark, 36, 184BoZ. See Bank of Zambia (BoZ)Bräutigam, Deborah, 163British Selection Trust (BST), 15British South Africa Company

(BSAC), 12, 14royalty from mining operations, 21

Brownbridge, Martin, 28, 69Brunetti, Aymo, 35Burawoy, Michael, 41

Index

276 Index

Busse, Matthias, 36Bussière, Jacques, 132Bwalya, Samuel, 26BZW. See Barclays de Zoete Wedd

(BZW)

Ccapital

allocation, 103constraint, 96–8fixed, infrastructure, 25foreign. See Foreign capitalformation, 119misallocation of, 103raising, 136–56shortage, 98and Zambian economy, 24

capital constraint, consumption and, 96–8

capital investment, 95–7, 96, 113, 118, 132, 144, 182–4

capitalism, 112capital markets, 66Carothers, Thomas, 154, 174Catholic Church, 131, 134Central Economic and Finance

Committee, Zambia, 84Césaire, Aimé, 17Chikwanda, Alexander, 55, 94, 170,

172, 175, 184Chiluba, Frederick, 109, 113, 125,

137, 138Chimba, Justin, 49China

economic access to Zambia, 151foreign investment from, 151, 160Special Economic Zones (SEZs) in,

149, 163China Non-Ferrous Metals Mining

Corporation (CNMC), 164, 166Chinese-Zambian cooperation

zone, 164Chipimo, Elias, 8, 108, 109, 113Chisala, Beatwell, 20Chisanga, Patrick, 109, 113Chisembele, Sylvester Mwamba, 73Chitambala, Frank, 121Chona, Mainza, 49, 51, 74Chona Commission, 74

Christianity, 108, 180Chuula, Fitzpatrick, 57civil society organisations, 174Clague, Christopher, 35Clark, John, 94Clarkwell Investments, 167CNMC. See China Non-Ferrous Metals

Mining Corporation (CNMC)Coase, Ronald, 29Codelco, 144Coffman, D’Maris, 33Colclough, Christopher, 26Collier, Paul, 23, 25–6, 34, 88, 100, 125colonialism, 179

economic, 187Humanism and, 179–80

Committee of 14, 73conditionality

and implementation, 122–7inertia and adjustment, 132–5introduction, 117–18new economic recovery programme

and, 127–9new reform and an emerging

democracy, 129–32second balance-of-payments crisis

and, 118–22Consolidated Tyres, 120consumption

and capital constraint, 96–8luxury, 142

contract-intensive money theory, 35Cooke, Robert, 153copper mining

agreements, 15contracts cancellation by

Kaunda, 22nationalisation of, 52–3production, 21and Zambian economy, 2, 12, 20–4

copper prices, artificial inflation of, 22–3

Cordon, Warner, 23corporate black spots, 102corruption

institutionalised culture of, 153nationalisation and, 192parastatals and, 101reforms and, 152

Index 277

Craig, John, 155Credit Organisation of Zambia, 69Credit Suisse, 167Curry, Robert, 26

DDaimler Benz, 107De Beer, Johannes, 84debt-servicing costs, 127, 148, 172Deininger, Klaus, 24De Long, Bradford, 26democracy

multi-party, 131–2new reform and emerging, 129–32participatory, 73

Deutsche Bank, 172discounted cash flow (DCF), 36Dixit, Avinash, 35domestic investment, 85, 96, 184. See

also InvestmentDonegal International, 148Dumont, Rene, 112Dutch disease, 23–4

Eeconomic adjustment programme,

121economic exclusion, 67–72economic growth

and capital, 24and copper mining, 20–4and institutional history of

Zambia, 3and institutional quality, 29and trade routes, 34of Zambia, 1–3, 28–33

economic pragmatism, 86economic recovery programme, 127–9economic reforms, 93, 115, 118, 122,

132–3, 141, 152. See also Reformseconomic stimulus, 149–52economy, 1–2

restructuring of, 15–16State’s involvement in, 44–6

Elbadawi, Ibrahim, 28, 115, 123Elliot, Charles, 26–7Emrys-Evans, Paul, 14Engelhard Minerals & Chemical

Corp., 85

Enhanced Structural Adjustment Facility (ESAF), 140

Ensminger, Jean, 180entrepreneurial bourgeoisie, 98EPZs. See Export Processing Zones

(EPZs)Equinox Corporation, 164Equinox Minerals, 165ESAF. See Enhanced Structural

Adjustment Facility (ESAF)Eurobond, 172–4European Community, 126exchange rate auctions, 128exclusion

centralisation and contraction, 86–90

economic, 67–72foreign reserves and international,

76–80international, 76–80mine management takeover, 80–6political, 72–6

Export Processing Zones (EPZs), 162EPZ Act, 150, 166potential sites for, 150

exportscopper, 77–9, 191diversification of, 122export processing zones, 149–52growth of, 92of maize, 120temporary inflation of, 95

extractive institutions, 32

FFaber, Michael, 20–1Fanon, Frantz, 17Farole, Thomas, 150FDI. See Foreign Direct Investment

(FDI)Ferguson, James, 163Finance Bank of Zambia Limited

(FB), 167The Financial Times, 5, 8FINDECO, 69, 72, 84, 92Finsbury Investments, 167first balance-of-payments crisis

consumption and capital constraint, 96–8

278 Index

first balance-of-payments crisis – continued

decline and denial, 112–16MiGs before maize, 111–12opposition, exclusivity, and

renewed control, 108–11parastatal inefficiency, 100–3political control and economic

exclusion, 98–100reform under institutional inertia,

103–8First National Development Plan

(FNDP), 16FirstRand Bank, 168fiscal reforms, 127, 133. See also

ReformsFitch Ratings, 172, 175food shortage, 112foreign capital, 177–92

outside economic zones, 167–71foreign development organisations, 174foreign direct investment (FDI), 149,

151, 158–60. See also Investmentforeign exchange reserves, 77, 83foreign exchange spending, 94foreign investment

and copper mining in Zambia, 24exclusivity and, 182–5importance of, 76inward, 95in mining sector, 64policies by UNIP, 25private, 97–8promoting, 130stable investment environment

and, 64UNIP’s failure to maintain, 182–3

Foreign Investment Protection Act, 47foreign management contracts, 69, 98foreign reserves

decentralising, 77decline in, 93international exclusion and, 76–80UNIP’s control of, 97–8

Fortman, Bastiaan, 47Fosu, Augustin, 29Frank, Andre Gunder, 25Fraser, Alastair, 2, 21Friedman, Milton, 184

Fry, James, 26, 92Fundanga, Caleb, 168

GGaddafi, Muammar, 170GDP. See Gross Domestic Product

(GDP)General Theory of Employment,

Interest, and Money (Keynes), 36Ghandour, Marwan, 163Glencore International, 142–3Glorious Revolution, 165Gluckman, Max, 12Goodman, Simon, 24–5, 36Goodman, Stephen, 64government-backed ZIMCO corporate

bonds, 81Government of the Republic of

Zambia (GRZ)and Anglo, 56–7balance-of-payments, 10copper mining agreements, 15discrimination against non-Zambi-

ans, 48–50economic history, 10foreign borrowing, 1, 19influence on Bank of Zambia, 28overvaluation of the Kwacha, 28patriotic political assistants

concept, 41policy decisions, 2, 10preferential policies, 26and RST, 56–7

government policies. See PoliciesGraham, Philip, 8gross domestic product (GDP), 136

copper sales and, 12, 20debt-servicing costs as per cent

of, 172GDP per capita during 1960-2013,

158, 190public debt and, 136Zambia, 1

Guanteng Group, 165The Guardian, 5, 52, 78, 106, 110,

112, 131Gulhati, Ravi, 126, 133Gunning, Jan, 23Gupta, Anirudha, 40

Index 279

HHaglund, Dan, 151, 160Hall, Richard, 2, 8, 180Hallen, Barry, 17Hamada, Koichi, 149Hamilton, Alexander, 180Hanson, Gordon, 26Harrison, Ann, 26Harvey, Charles, 25, 28, 36, 184Heavily Indebted Poor Countries

(HIPC) initiative, 138, 146, 159aim of, 146–7completion of, 171–2importance of, 138sustaining reform and, 146–9

Hefeker, Carsten, 36Henisz, Witold, 35HIV/AIDS, 147Hu Jintao, 164Humanism, 179–80, 189

IIMF. See International Monetary

Fund (IMF)imports

agricultural and medical, 77banning of, 77food, 93, 112, 130GDP and, 97of luxury goods, 123of maize, 111rise in duty on, 77subsidised, 115, 184

import substitution, 124inclusive economic institutions, 32INDECO. See Industrial

Development Corporation of Zambia (INDECO)

Industrial Development Act, 106Industrial Development Corporation

of Zambia (INDECO), 6, 44–5, 67, 69, 70, 72, 84, 87, 92, 101

sale proposal, 56–7Industrial Finance Company, 69institutional history, of Zambia and

economic growth, 3institutional reforms, 92, 113, 118,

141, 145, 148, 167. See also Reforms

institutions. See also Political institutions

extractive, 32inclusive economic, 32quality and economic growth,

28–33and relationship with economic

growth, 37–8stability and financial investments,

35, 36–7Interbank Interest Rates, 83Interbank Offer Rate, 83Internal Settlement, 110International Centre for the

Settlement of Investment Disputes, 58–9

International Financial Institutions (IFIs), 125, 130, 139, 163

International Monetary Fund (IMF), 3, 79, 91

balance-of-payment support from, 93–5, 120

borrowings from, 93–5, 107–8economic reform and, 93HIPC, 146Rights Accumulation Programme

(RAP), 129Investec, 139investment

capital. See Capital investmentdomestic, 85, 96, 184environment, 64exclusivity and foreign, 182–5foreign. See Foreign investmentforeign direct, 149, 151, 158–60government, 96, 184–5growth in the MFEZs, 164–7primary, 159reduced, 64, 178reluctant, 159–62secondary, 159

Investment Act, 166

JJapan International Cooperation

Agency (JICA), 162, 166Jerven, Morten, 21, 91JICA. See Japan International

Cooperation Agency (JICA)

280 Index

Johns, Sheridan, 43, 69Johns, Simon, 101Johnson, Gerry, 153Johnson, Simon, 31, 183Jolly, Richard, 26Jordaan, Michael, 168Journal of African Economies, 28–9

KKabwe, Christopher, 109, 113Kalulu, Solomon, 42Kamana, Dunstan, 8, 74, 113Kankasa, Chibesa, 109Kapinga, Paul, 143Kapwepwe, Simon, 42–3, 73, 88, 108

and Kaunda, 54–5Kasonde, Emmanuel, 57, 138Kaunda, Kenneth, 14, 66, 91, 136

appreciation of British’s contribution, 20

backing Sardanis business, 45–6and copper mining contracts

cancellation, 22and Kapwepwe, 54–5mine nationalisations, 36on nationalisation, 46–8and UNIP Youth League’s attacks,

43–4Zambian Humanism philosophy,

16–17Kaunga, Ephraim, 119Kavindele, Enoch, 171KCM. See Konkola Copper Mine

(KCM)Kellock, Thomas, 44Keynes, John Maynard, 36Kirkland-Whittaker, 85Knight, Jack, 180Konkola Copper Mine (KCM), 145Kotter, John, 153–4, 174, 187–8Kragelund, Peter, 151Kulim High Technology Park

Corporation, 162, 166Kuwani, Bitwell, 103, 104, 112, 120

LLafferty, Clayton, 153Lancaster House Agreement, 111LAP Green, 170

Larmer, Miles, 21, 43, 48, 91, 131, 155

Law Association of Zambia, 139Libby, Ronald, 56Libya Africa Investment Portfolio

Green Networks (LAP Green), 168Libyan civil war, 170Libyan Investment Authority, 168Lipton, Michael, 26Lisulo, Daniel, 102Livingston Motor Plant, 120LME. See London Metals

Exchange (LME)London and Rhodesia Holdings

company (LONRHO), 59–60, 84London Metals Exchange (LME),

7, 107London stock exchange, 81LONRHO. See London and Rhodesia

Holdings company (LONRHO)Lumaswala, Kwaleyela, 128Lungu, John, 141Lusaka City Council, 173Lusaka Multi-Media Complex, 131

MMacmillan, Hugh, 49Macpherson, Fergus, 20Madison, James, 14, 180Magande, Ng’andu, 162Mahtani, Rajan, 167Mail and Guardian, 168Maimo, Fabian, 26Major, John, 129Makasa, Robert, 70Malila, Mumba, 169Mansa Batteries, 120Mapoma, James, 107Markakis, John, 26market-based exchange rate, 130market economy, 52–6

nationalisation of copper mines, 52–3

Martin, Anthony, 8, 14, 43Matero agreements, 60–1Matero Reforms, 53, 54, 56, 60,

62, 99Maxwell Stamp Africa, 184McPherson, Malcolm, 89, 124, 152

Index 281

MDRI. See Multilateral Debt Relief Initiative (MDRI)

Meller, Patricio, 21MiG-21 fighter jets, 111–12MINDECO, 72, 84mine management takeover, 80–6Mine Workers Union of Zambia

(MUZ), 125Ministry of Commerce, Trade, and

Industry, 149Mitsubishi Shoji Kaisha Co., 53Mitsui and Co., 53MMD. See Movement for Multi- Party

Democracy (MMD)monetary reforms, 118, 133, 125127.

See also ReformsMonze, Lily, 104Monze Township Council, 49Morris, Colin, 17Movement for Multi-Party Democracy

(MMD), 11, 131, 137, 138, 165Moyo, Dambisa, 172Mudenda, Elijah, 110Mugabe, Robert, 111Mujumdar, Narasinh, 28Mukata, Keith, 173Mulemba, Humphrey, 81, 95Multi-Facility Economic Zones

(MFEZs), 154, 158Multilateral Debt Relief Initiative

(MDRI), 149multi-party politics, 130, 132Mulungushi, James, 24Mulungushi Reforms, 46–7, 60–1,

204n51Mupeta, Sydney, 169Murray and Roberts, 139Musakanya, Valentine, 18, 34, 41, 93,

109, 113, 181Musokotwane, Kebby, 120, 122MUZ. See Mine Workers Union of

Zambia (MUZ)Muzorewa, Abel, 110, 115, 180Mwaanga, Vernon, 74, 80Mwanakatwe, John, 42, 70, 97, 101–2,

103, 169Mwanakatwe, Mupanga, 169Mwananshiku, Luke, 103, 120, 122Mwanawasa, Levy, 157, 167

Mwanawina, Inyambo, 24Mwape, Michael, 128

NNabulyato, Robinson, 128National Bureau of Economic

Research, 23National Commercial Bank, 69National Commission for

Development Planning, 118, 119National Development Corporation,

46National Interim Committee for

Multi-Party Democracy, 131nationalisation

discrimination against non-Zambians, 48–50

of Finance Bank of Zambia Limited (FB), 167, 169–70

of mines, 70, 89, 171, 192of private property, 46–8of Zambia National Commercial

Bank (ZANACO), 169–70NCCM. See Nchanga Consolidated

Copper Mines (NCCM)Nchanga Consolidated Copper Mines

(NCCM), 53, 81, 122Ncube, Patrick, 119Ndulu, Benno, 2Nelson, Joan, 141, 154NERP. See New Economic Recovery

Programme (NERP)New Economic Recovery Plan, 133New Economic Recovery Programme

(NERP), 127–8New Institutional Economics (NIE),

2, 19New Limpopo Bridge Projects

Investment Limited, 170–1Nkrumah, Kwame, 17Nkulukusa, Felix, 172, 174Nkumbula, Harry, 14, 42, 108N. M. Rothschild, 143Noranda, 143Nordlund, Per, 131North, Douglass, 2, 29–30, 93, 165,

183, 187Nyerere, Julius, 17

Arusha Declaration, 60

282 Index

OOAPEC. See Organization of Arab

Petroleum Exporting Countries (OAPEC)

Obiorah, Ndubisi, 163The Observer, 8oil embargo of 1973, 79Olinto, Pedro, 24Oppenheimer, Ernest, 15, 28Oppenheimer, Harry, 45, 52–3,

85, 183on reorganising Zambian

investments, 59Organizational Culture Inventory, 153Organization of Arab Petroleum

Exporting Countries (OAPEC), 79

PPamu, Mulenga, 24parastatal inefficiency, 100–3Paris stock exchange, 81partial reform syndrome, 152,

154, 188Patel, M. B., 49Patriotic Front (PF), 165Phelps Dodge, 143Phiri, Bizeck, 12PIP. See Production and Investment

Plan (PIP)policies

biasness of Zambian governmental, 31

cheap food, 26colonial control and, 31

political control, and economic exclu-sion, 98–100

political exclusion, 72–6A Political History of Zambia (Phiri), 12political institutions

economic growth and, 28–33stability measures, 30

political reforms, 115, 129–30, 145, 152. See also Reforms

Posner, Daniel, 42Potter, James, 20–1Poverty Reduction Strategy Paper

(PRSP), 147, 150Prain, Ronald, 14private foreign investment, 97

privatisationof mines, 137, 141, 154–5protracted, 137of Zambian Consolidated Copper

Mines (ZCCM), 141–6of the Zambian National

Commercial Bank, 148Zambia Privatisation Agency and,

161Zambia Privatisation Trust Fund

and, 139, 161Privatisation Bill, 139, 160, 161, 166Production and Investment Plan

(PIP), 126Productive Farming, 108property rights, 46–8, 92, 98,

113–14, 170PRSP. See Poverty Reduction Strategy

Paper (PRSP)

RRabobank, 169–70Railway Systems of Zambia (RSZ), 170Rakner, Lise, 64, 125, 131, 152RAP. See Rights Accumulation

Programme (RAP)Rasmussen, Thomas, 62RCM. See Roan Copper Mines (RCM)reforms

and an emerging democracy, 129–32

building trust and raising capital, 136–56

economic, 93, 115, 118, 122, 132–3, 141, 152

economic conditions and, 60–2FINDECO and, 69fiscal, 127, 133inclusion and economic stimulus,

149–52and informal resistance, 138–41institutional, 92, 113, 118, 141,

145, 148, 167under institutional inertia, 103–8interrelated three-way, 156Matero, 99monetary, 118, 125, 127, 133Mulungushi, 73, 100political, 115, 129–30, 145, 152

Index 283

privatisation, uncomfortable, 141–6sustaining reform and the HIPC

Initiative, 146–9of UNIP’s Central Committee,

101–2Relly, Gavin, 57Republic of Zambia. See ZambiaRhodes, Cecil John, 12Rhodes-Livingstone Institute, 12Rights Accumulation Programme

(RAP), 129, 139Rio Tinto Zinc (RTZ), 142Roads Development Agency, 173Roan Copper Mines (RCM), 81, 122Roan Selection Trust (RST), 8, 14–15,

81, 97, 183copper mining share and, 20disinvestment by, 189mining operations and, 81

Robinson, James, 31, 66, 114, 174, 183

Rodrik, Dani, 184Rosenstein-Rodan, Paul, 25Rostow, W. W., 25Rowland, Tiny, 60, 84RP Capital, 169RST. See Roan Selection Trust (RST)

SSaasa, Oliver, 130, 170Sachs, Jeffrey, 23Saleh, Jahangir, 36Sangwa, John, 168Sardanis, Andrew, 6, 28, 43, 67, 100,

113, 185and INDECO, 44–5

Sardanis Papers, 6Sata, Michael, 8, 151, 168scientific socialism, 108Scott, Guy, 8second balance-of-payments crisis,

118–22Seebohm, Sir Frederic, 67Seers, Dudley, 14–15, 185Senghor, Léopold Sédar, 17Seshamani, Venkatesh, 103Shandong Shifeng Group, 164Shaw, Timothy, 16–17Siame, Paul, 170

Sichinga, Robert, 165Simpasa, Anthony, 21Simwinga, George, 97, 103Situmbeko, Lishala, 79Skinner, James, 43–4Smith, Ian, 110, 111Soko, Axon, 124South African Port Authorities, 120Soviet Union, 111–12, 148Special Economic Zones (SEZs), 11,

138, 149, 159, 161Standard Bank in Zambia, 108–9Standard & Poor’s, 175state capitalism, 70Strasma, John, 99Strategic Action Initiative for

Economic Development (SAIED) Programme, 162

Summers, Lawrence, 26Sunday Times, 109Supa Baking Company, 102Sutcliffe, Robert, 34Szeftel, Morris, 72, 98, 152

TTang Xiaoyang, 163Tate & Lyle, 102Thomas, Robert, 29–30Thurlow, James, 24The Times, 5The Times of Zambia, 5, 8, 43, 52, 74,

78, 81, 83, 88, 106, 108, 112, 113, 121

Tordoff, William, 41, 86, 100trade unions, 109–10transitional grey zone, 15424-acre rule, 99

UUjamaa, 17UK Commonwealth Development

Corporation, 143UK-South African Trade Commission,

67Unilateral Declaration of

Independence (UDI), 34UNIP. See United National

Independence Party (UNIP)UNIP Archives, 107

284 Index

UNIP National Council, 75UNIP’s Disciplinary Ladder:

Enforcement Machinery, 72United African National Council, 110United Bus Company, 139United National Independence Party

(UNIP), 4, 5–6, 66, 91, 117, 136, 166

control and responsibilities, 60–5general elections win, 42institutional changes, 9nationalisation of companies, 33party supremacy, 50–2policies on foreign investment, 25political context, 40–4Youth League attacks, 43–4and Zambian trade unions, 40

United Nations, 14, 80United Nations Conference on Trade

and Development, 160United Nations Development

Programme, 1United Progressive Party (UPP), 73University of Zambia, 171, 184UPP. See United Progressive Party

(UPP)urban bias theory, 26–7, 181US State Department, 104

Vvan de Walle, Nicolas, 141, 152,

174, 188Vuillequez, Jean, 56–7vulture funds, 148

WWalcott, John, 85The Wall Street Journal, 5Warner, Andrew, 23Weder, Beatrice, 35weekly currency auctions, 124Weingast, Barry, 29–30, 183White, Howard, 152Wilkowski, Jean, 82, 104Williams, Mike, 48Williamson, John, 148Wina, Arthur, 130Wina, Sikota, 50Woakes, Michael, 56

Wobst, Peter, 24Wood, Albert, 169World Bank, 1, 3, 76, 79, 95, 104,

112, 122, 126, 133, 142SEZs, defined by, 149unconditional loan from, 79

World Development Report, 125Wulf, Jürgen, 122

XXiang Guang Group, 164–5Xinhua News, 5

YYom Kippur War of 1973, 79Young, Charles, 26Yunnan Copper Industry Group, 164

ZZAM. See Zambia Association of

Manufacturers (ZAM)ZamAnglo, 85, 189Zambezi Portland Cement Limited,

167Zambia

balance-of-payment crisis, 10, 11capital constraint, 24–6copper mining, 12economic growth, 1–3, 28–33economic performance of, 1–2history and economic growth, 33–7independence, 1, 14institutions and economic growth,

37–8market economy, 52–6Multi-Facility Economic Zone

(MFEZ) initiative, 4physical archives on, 5–7reforms in, 60–5Transitional Development Plan, 16

Zambia Airways, 139Zambia Association of Chambers of

Commerce and Industry, 139, 150Zambia Association of Manufacturers

(ZAM), 150Zambia-China Economic and Trade

Cooperation Zone (ZCCZ), 164Zambia Congress of Trade Unions

(ZCTU), 125, 138

Index 285

Zambia Consolidated Copper Mines Ltd (ZCCM), 102, 122, 137

Zambia Copper Investments (ZCI), 59Zambia Development Agency (ZDA),

8, 151ZDA Act, 160, 162ZDA Bill, 162

Zambia Export Processing Zones Authority (ZEPZA), 151, 163, 166

Zambia Independence Act, 13Zambia Industrial and Mining

Corporation (ZIMCO), 6, 72, 76, 81, 84, 87, 92, 101

Zambia Institute of Chartered Accountants, 139

Zambia Investment Centres, 150, 162–3, 166

Zambian Anglo-American (ZamAnglo), 45, 52–3

Zambian Army, 131Zambia National Commercial Bank

(ZANACO), 169–70Zambian Chamber of Business, 8Zambian Congress of Trade Unions,

109Zambian Consolidated Copper Mines

(ZCCM), 141Zambian Contingency Planning

Secretariat, 79Zambian Copper Investments, 145

Zambian Development Agency, 166Zambian Development Corporation,

46Zambian Humanism philosophy,

16–17Zambianisation, 40–1Zambian National Commercial Bank,

148Zambian Post, 5Zambia Privatisation Agency, 161Zambia Privatisation Trust Fund

(ZPTF), 139, 161Zambia Public Procurement Authority,

166Zambia Railways, 173Zamtel, 168ZANACO. See Zambia National

Commercial Bank (ZANACO)ZCCM. See Zambia Consolidated

Copper Mines Ltd (ZCCM)ZCCZ. See Zambia-China Economic

and Trade Cooperation Zone (ZCCZ)

ZCTU. See Zambia Congress of Trade Unions (ZCTU)

ZIMCO. See Zambia Industrial and Mining Corporation (ZIMCO)

Zulu, Jack Jones, 79Zulu, Justin, 82Zulu, Sebastian, 170

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