State Enterprises and Parastatals minister Gorden Moyo says non-adherence to corporate governance practices by State enterprise and parastatals (SEPs) has contributed to underperformance by most of the entities.
Launching a two-day corporate governance training seminar to enhance economic stability and help restore the capacity of SEPs to contribute to the overall economy in Harare yesterday, Moyo said training and exposure for senior management would be an ongoing exercise.
“The state of affairs is a major concern to the government. Complicity in issues relating to transparency, accountability, appointment of boards of directors, chief executive officers among others, has continued to tarnish the image of most of our State enterprises and parastatals,” said Moyo
He said there has been concern over the non-adherence to current legislation regulating the operations of the State-owned companies.
The training workshop is targeting board members in all State enterprises and parastatals.
The government is expected to spend close to $50 000 in the first phase of the corporate governance framework training programme targeting 450 senior managers.
PriceWaterhouseCoopers, in partnership with the Institute of Directors of Zimbabwe, are in charge of the training programme.
The government has started implementing the corporate governance framework to promote transparency, accountability and improve efficiency in State-owned enterprises in the country.