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The Institute of Chartered Secretaries and Administrators in Zimbabwe Excellence in Corporate Governance Awards will this year include Public Sector Award categories for state-owned enterprises and parastatals. The awards, which were inaugurated by ICSAZ in 2013, now cover three sectors: stock exchange listed companies, banking institutions and public sector companies and organisations.
Vice-President Phelekezela Mphoko will be the guest of honour and speaker at this year’s awards presentation dinner, which will be hosted by ICSAZ on November 12 at Cresta Lodge Hotel in Harare.
ICSAZ introduced the Excellence in Corporate Governance Awards in 2013 as a means of promoting good corporate governance by recognising corporate boards that exemplify excellence in their governance processes.
They have become a hallmark of excellence as participants use them as a best practices-based yardstick for board governance processes and a source of reference for corporate governance best practice in the market.
Adjudication for the Awards is based on national and international criteria for best practice in corporate governance.
The inaugural awards in 2013 focused purely on companies listed on the Zimbabwe Stock Exchange. Last year they were expanded to include categories for banks. This year they have been further expanded with the introduction of award categories for state owned enterprises and parastatals.
The ICSAZ chief executive and secretary, Dr Farai Musamba, said ICSAZ was given formal authority by the Government to include state owned enterprises and parastatals in this year’s edition of the awards.
“There are more than 60 state-owned enterprises and parastatals that are participating under the Public Sector Awards category this year. The institute has developed a special scorecard for the adjudication of these institutions,” Dr Musamba said.
“The team of adjudicators makes use of publicly available information on the participants, ranging from annual reports to website information and other published literature on and from the company.
“The awards aim to promote good corporate governance by recognising leadership efforts of corporate boards that practise good corporate governance in their functioning as well as their implementation of ethical and innovative practices which promote good corporate governance.
Online Reporter