Zimpapers Logo

Victor Maphosa Herald Correspondent
Government is placing strong emphasis on reviving key economic sectors through the promotion of production-oriented investment and implementing initiatives targeted at enhancing the performance of State enterprises and parastatals.

This was said by Vice President Kembo Mohadi during the 7th edition of the Excellence in Corporate Governance Awards held in Harare on Thursday night.

The annual awards ceremony is organised by the Institute of Chartered Secretaries and Administrators in Zimbabwe (ICSAZ) to honour company boards who promote good corporate governance practices.

Cde Mohadi said the various reforms being undertaken by Government had put Zimbabwe in the right direction.

“We are seeking to grow the livelihoods of our people,” he said.

“Progress has been made on many fronts that include, but not limited to fiscal consolidation, monetary policy restoration and liberalisation of the foreign exchange market to mention but a few.

“The 2020 National Budget, which marked a transition from austerity to a growth stimulation and employment generation era, offered quite a number of incentives which should be taken advantage of by all productive sectors of the economy.”

Cde Mohadi said Government was improving the ease of doing business in the country through the establishment of a “One-Stop Shop” investment centre.

“The establishment of a One-Stop Shop investment centre is aimed at improving investor confidence,” he said.

“It will enable the smooth processing of investment approvals within a short space of time, thus significantly improving the investment climate.”

VP Mohadi implored various company representatives who were present to ensure that tenets of good corporate governance were always practised.

“Corporate governance is not for Government alone, but it starts with you, the corporates and should also be mirrored at a national level,” he said.

“Governance is a culture, and I challenge you to rise to the task as success will never lower its level.

“I urge you, therefore, to ensure tenets of good governance are entrenched into your day-to-day operations.”

VP Mohadi commended this year’s 7th edition of the Excellence in Corporate Governance Awards’ theme, saying it resonated well with Zimbabwe’s vision 2030.

“You have selected an appropriate theme, “Good Corporate Governance — Key to Influencing Economic Growth”, it precisely captures Zimbabwe’s vision as we work through the Transitional Stabilisation Programme, which is the precursor to the forthcoming National Development Plans that will lead us to the realisation of Vision 2030,” he said.

“The goal of the TSP is clear, it is to stabilise the economy, attract investment and lay the foundation for shared and sustained growth.”