Online Reporter
Business Reporter
The Institute of Directors Zimbabwe (IoDZ) recently held its Director of the Year Awards 2025.
The awards were adjudicated by a distinguished panel of six professionals with deep and broad experience in governance, finance, development economics, and corporate strategy.
The panel, chaired by Ms Susan Mutangadura, an international arbitrator at the Arbitration Chambers, upheld the highest standards of objectivity, independence, and integrity throughout the adjudication process.
In her speech at the awards ceremony, Ms Mutangadura stated that the awards continue to celebrate visionary strategic leadership and exemplary governance across Zimbabwe’s private sector, public enterprises, non-governmental organisations, academia, and small and medium enterprises.
“Hosted annually, the Director of the Year Awards recognise directors who have navigated volatile and turbulent macroeconomic conditions in a fast-changing global operating environment while demonstrating excellence in governance, innovation, stakeholder stewardship, sustainability, and ethical leadership,” she said.
She noted that the diversity of professional backgrounds on the panel allowed for a holistic and nuanced evaluation process across all categories and sectors.
Ms Mutangadura explained that for the evaluation process, the Institute of Directors partnered with Equity Axis, “a respected financial research firm”, to enhance analytical depth and support evidence-based evaluations.
The analysts employed a performance-based evaluation matrix, incorporating quantitative financial metrics and governance disclosures.
“A 10 percent subjectivity test was applied to the analysts’ findings to ensure a balanced consideration of both measurable outcomes and intangible leadership qualities that are not always captured in financial reports,” she said.
The process also applied customised scorecards and sector-specific metrics, developed in line with global frameworks such as the Institute of Directors UK Governance Principles, the King IV Report (South Africa), the OECD Principles of Corporate Governance, the UN Sustainable Development Goals, and ESG global benchmarks.
Ms Mutangadura said that for entities with publicly available financial statements and voluntary submissions, such as large, listed companies and State-Owned Enterprises (SOEs), Equity Axis performed detailed analyses of financial performance, including ratio and trend analysis. It also looked at ESG disclosures and sustainability performance, as well as board conduct, composition, and effectiveness.
She added that institutions without publicly available records were invited to submit their audited reports for inclusion, with entities that had unqualified financials and those aligning with international reporting standards being scored more favourably.
“Importantly, the committee noted that several nominations were disqualified during the adjudication process due to serious concerns, including non-compliance with disclosure requirements, a lack of submitted audited financials, and, in some cases, corporate governance scandals,” she said. “While specific names are not disclosed, this underscores the importance of the awards as a mechanism not only to reward excellence but also to promote accountability, ethical leadership, and governance discipline in the Zimbabwean corporate landscape.”
The award categories included:
Large and Listed Companies
Small and Medium Enterprises
State-Owned Enterprises and Parastatals
NGOs and Civil Society Organisations
Woman Director of the Year
Young Director of the Year
Chief Executive Officer of the Year
Most Diverse Board of the Year
Board of the Year
Report of the Year
Each submission was evaluated based on a weighted scorecard, reflecting dimensions such as strategic leadership, governance ethics, diversity, innovation, digitalisation, sustainability, and stakeholder engagement.
Ms Mutangadura said that while environmental, social, and governance considerations were integrated across all categories as part of the holistic evaluation framework, the committee acknowledged the growing global emphasis on ESG accountability.
“As such, ESG will be introduced as a standalone category in future awards cycles to deepen sector-specific analysis, incentivise formal ESG adoption, and enhance alignment with international best practice,” she said.
Some of the observations from the awards were that several nominees demonstrated exceptional leadership, responsible governance, and strategic foresight amid a complex operating environment.
There was a marked increase in participation from regulatory SOEs, though overall parastatal involvement remains low.
“We encourage broader participation, especially given the central role of SOEs in national development,” she said.
She also noted increased participation from SMEs and NGOs, which highlights a growing interest in structured governance. Ms Mutangadura added that the Institute will continue to engage with SME boards and the donor community to encourage more participation from this constituency.
