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Billions of dollars in potential revenue have been lost due to poor corporate governance in parastatals and it is important for board members to have the interests of the public at heart

The position of CEO comes with a lot of responsibility and the setting up of clear performance targets, amongst a host of other measures, will ensure higher levels of efficiency and effectiveness.Salarygate, as the pay scandal in some parastatals is now referred to, will leave a mark as one of the greatest revelations over the past decade, reminiscent of the Willowgate scandal that claimed quite a few scalps in the 1980s.

I was still in primary school at that time but I remember it vividly. It shook this country and the tremors were felt far and wide.
We have said it in this column and we shall say it again that all and any cases to do with corruption must be dealt with decisively.

There should be no sacred cows if the current swoop is to make an impact. What is interesting for us in the media (because it give us good copy), is the fact that more and more corruption cases are being unearthed literally on a daily basis.

Of course those that are “clean” will not lose sleep over the developments but I am sure in most parastatals and even private firms, there is gnashing of teeth as many make frantic efforts to cover up their misdemeanours but it may as well be too late for the spotlight is quite expansive.

The long arm of the law will catch up with them while the pen, being mightier than the sword, will not rest until the country is squeaky clean.

Emphasis should always be on making investigations as widespread as possible. We owe it to posterity to ensure that the vice is dealt with once and for all.

Those still taking advantage of one loophole or the other are fully aware that it is just a matter of time before they are held to account.
Many have been asking that if the corruption cases are highlighted then what? Are there measures being put in place to ensure that such mischievous behaviour will not recur?

It is in this regard that we commend Government for its proactive stance in curbing shocking anomalies in salaries and remuneration of parastatal, local authorities and quasi-governmental entities.

The establishment of the Corporate Governance and Delivery Agency as enunciated by the Finance Minister Patrick Chinamasa last week is to all intense and purposes an auspicious start in remedying the worrying phenomenon in the afore-mentioned sectors.

This is exactly what the doctor ordered. Government has been accused of inertia in addressing these tragic but true happenings and these latest developments are most welcome as they demonstrate its willingness to restore sanity.

The Minister’s statement is clearly well thought out as it addresses the entire array of issues including, salaries, allowances and procurement procedures, executive appointments and performance related issues.

Clearly the role of boards has been put under public scrutiny, some being guilty of crippling dereliction of duty which has put paid to initiatives to bolster the country’s socio-economic standing.

That the President will approve all board appointments as has been the norm shows the magnitude of commitment to ensure normalcy returns in the operations of such critical sectors of the economy.

Board members, as is universally the norm, should be appointed purely on merit with due cognisance being given to skills possessed and field of specialty.

Political patronage should give way to professionalism and our predicament call for no less.

The envisaged balance vis-a-vis gender and regional spread in boards is yet another prudent measure announced by the minister and will avert potential conflicts.

It would appear boards were sleeping on the wheel and the novel measures introduced which relate to the appointments, tenure of office, performance and frequency of meetings and composition are a manifestation of the Government’s will to end the madness forthwith.

The Minister dealt at length on the appointments of CEOs and the measures are as elaborate as they are stringent.
Indeed this should avert opportunistic appointments and ensure that the right people will lead these organisations thus conceivably improving service delivery, which presently leaves a lot to be desired.

The position of CEO comes with a lot of responsibility and the setting up of clear performance targets, amongst a host of other measures, will ensure higher levels of efficiency and effectiveness. The buck stops with the CEOs and their respective boards. What we would like to see is the unerring application of these measures and the results will come.

It is no secret that the economy has suffered immensely from State enterprises’ failure to adapt to the changing socio-economic landscape.
Billions of dollars worth of earnings have been lost due to poor performance by many. For long, parastatals have continued to be a huge burden on the economy and yet they have potential to bring much revenue to treasury while providing efficient service to the nation.

There is need for new thinking and new corporate behaviour to get the economy ticking. The buck certainly stops with good corporate governance, which is not just a good sounding phrase but one that needs to be adhered to for any enterprise, where public or business, to operate optimally.

Our dire situation calls for action and a results-oriented approach for it is within our capacity to emerge victorious.
In God I Trust!

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