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Mukudzei Chingwere in VICTORIA FALLS

VICE President Dr Constantino Chiwenga has called on captains of industry to uphold the highest degree of good corporate governance and transparency to foster growth in private enterprises and the national economy.

He was speaking in Victoria Falls yesterday at the 2024 annual conference of the Chartered Governance and Accountancy Institute in Zimbabwe.

This year’s conference is running under the theme, “A Governance and accountancy transformative agenda: Towards a shared future for Zimbabwe.”

VP Chiwenga said everyone has a role to play in building a Zimbabwe that is prosperous, fair and prepared to meet challenges and seize the opportunities of the 21st century and propel Zimbabwe to a rapidly growing economy that is equitable and sustainable.

“As leaders, our responsibility is to create an environment where adherence to effective corporate governance principles is not just encouraged, but expected,” he said.

“The optimal potential of our private sector hinges on establishing a clear, responsible and ethically guided business environment.

“It is important to recognise that corruption represents a serious threat to our nation’s progress, distorting markets, undermining the rule of law, and eroding public confidence.”

VP Chiwenga said professionals in key positions in both private and public institutions must uphold ethical standards and categorically denounce all forms of corruption in their organisations.

Zimbabwe is making considerable strides in fighting corruption through implementing laws and abiding by international obligations such as adopting the United Nations Convention Against Corruption (UNCAC).

Domestication of this treaty has reinforced existing laws such as the Money Laundering and Proceeds of Crime Act, the Public Procurement and Disposal of Public Assets Act, and the Public Entities Corporate Governance Act, which are aimed at creating a strong framework that promotes transparency and accountability.

VP Chiwenga said Zimbabwe remains committed to collaborating with the private sector to create a corruption-free ecosystem through vigorous enforcement of anti-corruption laws, fostering strong partnerships, enhancing public awareness, and providing robust protection for whistle-blowers.

“By upholding the principles of good governance and actively participating in anti-corruption initiatives, the private sector can demonstrate its commitment to ethical business practices and contribute to a brighter future for our nation,” he said.

“In today’s rapidly evolving world, technology is not just an enabler, but also a catalyst for the change we seek.

“To realise Vision 2030, Zimbabwe must fully integrate advanced technologies into its governance and accountancy frameworks”.

Chartered Governance and Accountancy Institute in Zimbabwe president, Ms Judith Buzuzi, committed to the goals of transparency and good corporate governance.

She thanked the national leadership for being alive to issues of good governance and accountability and prioritising them.