Give four reasons why the governments of West African countries have found the policy of privatization attractive. [20 marks]
Explanation
(i) To inject efficiency into the management of government owned businesses.
(ii) To redirect resources from businesses to other pressing areas of the economy
(iii) To attract foreign investment
(iv) To minimize wastage and corruption
(v) To attract foreign technology and expertise.
(vi) To foster rapid economic development
(vii) To raise the general standard of living through sale of shares to small investors.
(viii) To generate employment opportunities
(ix) To generate additional government revenue.