HomeNewsGovt begins corporate governance training

Govt begins corporate governance training

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The government is expected to spend close to $50 000 in the first phase of the corporate governance framework training programme meant to equip directors with key requisite skills to turnaround the fortunes of the ailing parastatals.

Minister of State Enterprises and Parastatals Gorden Moyo yesterday said 450 senior managers at parastatals and State enterprises would undergo a six-day training programme in the first phase.

“It is important that we get these parastatals to start functioning as they are the rails on which the economy moves. They contribute as much as 40% of the gross domestic product,” said Moyo soon after meeting implementing partners.

PriceWaterhouseCoopers, in partnership with the Institute of Directors of Zimbabwe, are in charge of the training programme.

PriceWaterhouseCoopers senior partner, Tinashe Rwodzi said: “Good corporate governance is a prerequisite if we are to get the State enterprises to function.”

The government has started implementing the corporate governance framework, to promote transparency, accountability and improve efficiency in State-owned enterprises in the country.

Speaking at a recent workshop Moyo said the challenge faced by the government was that of lack of implementation.

“We are trying to breathe life into this policy document. We are rolling out a programme to train all board members of our State enterprises in preparation for the implementation of the policy,” said Moyo.

“Our main focus is on the competency of board members, skills mix and the capacity of these boards to give a strategic vision.”

The proposed framework covers issues that have to do with the role of shareholders, boards and senior management and general meetings.

Other issues include financial governance, compliance and reporting on the performance of the enterprises.

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