Fresh call for professionals to embrace good governance

THE Chartered Governance and Accountancy Institute in Zimbabwe (CGI) has made a fresh call for practitioners to embrace good governance to build trust seen as key in boosting investor confidence.

Discussions at the ongoing CGI annual conference in Victoria Falls yesterday showed that governance was the cornerstone that fosters investor confidence, ensures business continuity and sustainability and safeguards public interest.

CGI president Judith Buzuzi said this year’s conference uplifts a governance and accountancy agenda towards a shared future, captured the essence of the way the institute was able to do it.

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“We have a shared depository to ensure that our actions today pave the way for the future that is impressive. One of the key highlights of our conference will be the discussions around the economic transparency by agenda, focusing on how governance and accountancy professionals can contribute to the nation’s journey towards vision for the future,” she said.

Buzuzi said governance and accountancy at their core were not just about managing resources or keeping records, but about stewardship of the public.

The executive says she will to promote growth of small and medium enterprises (SMEs) during her one-year tenure.

“That helps SMEs to have better management practices, structured effective oversight and control mechanisms, which will lead to opportunities for growth, financing and full contribution to economic growth,” Buzuzi said.

“One of the pillars of this conference is the commitment to promote diversity and inclusion of governance and accountability. I am particularly excited about the session on accelerating equity, diversity and inclusion in governance and accountability professionals, led by the women in governance and accountability with the initiative.

“The session not only highlights the role of women in shaping governance, but it also calls for all of us to do more to foster inclusive environments in our workplaces.”

She added that the professionals needed to work together to pave the way for a governance and accountability agenda which supports the nation’s goals, uplifts its vulnerabilities and contributes to economic growth.

Guest of honour Vice-President Constantino Chiwenga said it was imperative that the private and public institutions uphold ethical standards. “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 our private sector needs is establishing a clear, responsible and ethically-minded business environment,” Chiwenga said. He said corruption represents a serious threat to the countrys progress, distorts markets, undermines the rule of law and erode public confidence. “Zimbabwe is making considerable efforts in the fight against corruption. Government has implemented various restrictive measures, such as adopting the United Nations Convention against Corruption in domestic law.”

He said the domestication of this treaty has reinforced existing laws such as the Public Procurement and Disposal of Public Assets Act and the Public Entities Corporate Governance Act.

Chiwenga said this was aimed at creating a strong framework that promotes transparency and accountability, adding that in this rapidly evolving world, technology was not just a main network, but also a catalyst for change in Zimbabwe.-newsda