Govt must focus more on business than politics: ICAZ


THE Institute of Chartered Accountants of Zimbabwe (ICAZ) says the government should put more effort in developing the economy rather than politics in a clear signal business is losing patience on national leaders.


Speaking at the ICAZ 20th anniversary at Integrity House in Harare last week, past president Nyasha Zhou said the institute was ready to work with the government in rebuilding the country.

“We sense there is too much effort on politics and not on the economy. Can you please go and tell the Vice-President (Emmerson Mnangagwa) in a nice way that the government should put less energy on politics and more energy on the development of the economy,” Zhou said.

“Pull the professional people together and ask what Zimbabwe they would want to see. We say let’s work together, we are here the professional people.”

He said there were a number of policy inconsistences, more talk and little action and this was worrying professional people in Zimbabwe.

“The economy is grinding backwards continuously, job losses both in public and in the private sector that many people are now in the streets. We now have vendors selling anything from bows and arrows to tsenza (edible tubers),” Zhou said.

Since the December sacking of ministers for allegedly plotting to topple President Robert Mugabe, the ruling Zanu PF has devoted more efforts in purging those who hold divergent views as the economy burns.

ICAZ president Bothwell Nyajeka said the institute had grown from 616 members to 1 700 spread across the world.

“In 1995, we had 616 members and 169 students. We now have 1 700 members and 700 students, a growth of three times in membership and six times in the number of students,” Nyajeka said.

“In addition, in 1995, most of our members were operating in Zimbabwe. To date, your excellence, we are proud to say that our members are now spread out throughout the world with 47% of our members now based outside Zimbabwe.”

He said the institute had mutual recognition agreements with six international accounting bodies — South African Institute of Chartered Accountants, Hong Kong, Scotland, Ireland, Canada, England and Wales, and was also working on agreements with India, United States, and Namibia.

Nyajeka said ICAZ had started discussions on areas the institute could partner with the auditor-general.

“We believe this will strengthen accounting and financial management within government which will result in improved use of resources. After all, Your Excellency, government is the biggest business entity in the country with revenue streams of over $4 billion and a huge capital base. As chartered accountants, we always believe that good financial management coupled with effective corporate governance will lead to economic growth,” he said.

Nyajeka said ICAZ members were also working with the Ministry of Industry and Commerce to come up with a framework on how chartered accountants could assist in the resuscitation of distressed parastatals.

Speaking at the same event, Justice, Legal and Parliamentary Affairs permanent secretary Virginia Mabhiza said chartered accountants were relevant for the growth of the economy playing key roles in public and private sectors.

“No economy can grow successfully without the involvement of chartered accountants. You are very relevant to the growth of the economy and also for the Zimbabwe Agenda for Sustainable Socio-Economic Transformation,” she said.

She glorified the profession, saying that in the world of business, chartered accountants had proved to be trustworthy and faithful to their work even when the members were called to investigate corruption and anomalies in company financials.

She added that chartered accountants should continue and help the nation to fight against corruption.

She said corruption had serious effects on the economy and some of the negative effects were scarce resources, which affected the smooth running of hospitals and schools, among many others.


  1. Its a pity to hear a chartered accountant complaining about job losses.My question is why not teach them to open their own businesses.What you hear is if you are a chartered accountant its easy to get a job why not train them so that they have exstensive ability to establish successfull businesses not to look for a job.I thnk these vendors are better as compared to these chartered accountants who are looking for jobs in the sense that they are a able to see a gap in the market and exploit it nomatter how small it is .Remember these big businesses were once small so instead of Zhou saying pple are now selling bow and arrows and tsenza i think he was supposed to say how are we going to export tsenza to other countries thats how can we make it a big businesses.Shame on you Mr Zhou .

    • John, you cannot just wake up and decide to ‘open a business’ that is not how an economy works, it is pitiful for you to be describing the selling of tsenza as identifying a gap in the market. According to your thinking, every zimbabwean should be an entrepreneur, if that was the case who would be the employee? Secondly, in case you had not realised it, this economy does not create a conducive environment for entrepreneurship so no matter how brilliant you are the economy does not allow for it. Do you honestly think exporting tsenza is going to resolve Zimbabwe’s economic woes? It is people with that sort of thinking who have gotten us in a mess to start with. Honestly, our government should stop trying to reinvent the wheel. For any economy to work the world over people need to be at work plain and simple. Selling tsenza is not work, that person needs to be in a factory somewhere. We need a large portion of our population in real employment to create the necessary platform for entrepreneurship to flourish. Util that basic requirement is met we will be chasing our tails for the foreseeable future.

    • not every1 should own a business.In as much efforts are being made to establish our own business we also need to revive the existing buiness and ultimately create employment aand contribute to the GDP

  2. mutsa you you missing the point here, john has a valid point. for starters 3/4 of the companies are run by these guys and for you trying to absolve them from the economic mess the country is in, is suicidal. secondly the obtaining economic environment calls for real entrepreneurs not paper employees icaz holders. if you take john and zhou’s analoge of tenza literally then you need mental examination. opportunities are currently abound in zimbabwe if icaz members should be cut above the john and proper policy advocates then the economy might well be on recovery.

    • Still exporting tsenza cannot make you big. These guys though have a valid point unfortunately it gets us nowhere because those guys are busy on each other’s throats. The biggest problem is the politicians have gone into business and they expect free labour, free capital and every penny from their business is profit.

  3. Handeyi kumombe vakoma. Tingozoswera tichitamba gonan’ombe murukova kumombe vakomana.

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