GOVERNMENT has committed to supporting risk management and good governance at all levels through the implementation of policies and initiatives that promote best practices, a Cabinet minister has said.
Speaking at the Enterprise Risk Management and Corporate Governance Excellence Awards on Wednesday night in Harare, Skills Audit and Development minister Paul Mavima said government had put in place policies and initiatives that are “designed to strengthen our capacity in these areas, and we are working tirelessly to ensure that they are implemented effectively”.
“The government of Zimbabwe has developed and launched a risk management framework and guidelines for the public sector. This shows our commitment to ensuring that all government institutions are managing their risk in an effective and efficient manner,” Mavima said.
Risk management is the identification, evaluation and prioritisation of risks followed by co-ordinated and economical application of resources to minimise, monitor and control the probability or impact of unfortunate events to maximise the realisation of opportunities.
“It will lead to improved decision-making, better governance and more efficient use of resources. It will also help to create a more transparent and accountable government, which is essential for building trust and credibility with the public,” Mavima said.
“Both risk management and good governance are essential for the economic development of our country. By creating a culture of effective risk management and strong corporate governance, we can assure that our businesses operate in a sustainable and responsible manner and that our country is able to attract investment and foster growth.”
He said Zimbabwe could achieve the goal of becoming an upper-middle-income economy by 2030 on the back of a shared vision and a commitment to risk management and good governance practices.
“We must focus on building a strong and resilient economy that can withstand external shocks and create opportunities for all. By working together, we can create a Zimbabwe that is prosperous, stable and peaceful for generations to come,” Mavima said.
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Also speaking at the awards ceremony, the Institute Corporate Governance of Zimbabwe chairperson Matthews Kunaka encouraged those in the risk management and governance sector to work together for the good of Zimbabwe.
“By organising and rewarding excellence in these areas, we can encourage others to follow suit and to make our country a better place for everyone,” he said.