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Victor Maphosa, Harare Bureau
GOOD corporate governance is vital for sustainable economic development as it holds the key to building stable and secure societies, Vice President Kembo Mohadi has said.
VP Mohadi made the remarks while officiating at the 7th Edition of the Excellence in Corporate Governance Awards held in Harare last night.
The event which was organised by the Institute of Chartered Secretaries and Administrators in Zimbabwe was running under the theme, “Good Corporate Governance, Key to Influencing Economic Growth.”
In his remarks, VP Mohadi implored corporates to practice accountable governance systems which builds trust and confidence in the society.
“Good corporate governance is vital for sustainable economic development, it holds the key to building stable and secure societies towards inclusive growth and shared prosperity.
“Fair, reliable and accountable governance systems in our institutions build the much needed trust and such confidence promotes a cohesive and productive society.”
Cde Mohadi said good corporate governance attracts investments.
“Investment and public participation for economic growth will be ensured by good corporate governance.
“When we declare that Zimbabwe is Open for Business, we collectively have to commit ourselves to the creation of an environment that enhances the ease of doing business and sound corporate governance is imperative,” he said.
“The Second Republic is committed to ensuring structures are in place to enhance transparency and accountability.
“We promote procedure based, result focused operations that are open to public scrutiny and oversight.
“Whatsoever we do, be it as Government officials, business corporates or private entities we should remember that we do it for the people of Zimbabwe, they have a right to receive value for money in all we do.”
Turning to corruption VP Mohadi said fighting corruption should be a continuous effort and good corporate governance plays an important role in achieving a free corrupt society.
“Fighting corruption is not a once off campaign but a determined and sustained strategy to effect a culture change through a deliberate paradigm shift towards productivity and sustainable social and economic development, it must be a continuous and relentless effort.
“The solution to the problem of corruption is to improve the systems that check and oversee the exercise of power, grant oversight powers to the people and make the exercise of power more transparent and institutionalised, that is why the development of Chartered Secretaries with integrity is central to the fight,” he said.
VP Mohadi said globally, citizens entrust Governments with their tax money and their natural resources.
“It is this element of trust that binds Government and its people, stakeholders and those charged with governance.
“We must be honest and upright in our conduct while we also remain clean and prudent in exercising power.
“Government is committed to continuously use state power for the people not for personal or private benefit. Sound corporate governance ethics demand that one is devoted to serve the public and impose strict self-discipline.”
Bongani Ndlovu
Online Reporter