Staff Writer
The foundation of a prosperous and just society lies in strong governance and ethical accountancy, Vice-President Constantino Chiwenga told the annual conference of the Chartered Governance and Accountancy Institute in Zimbabwe annual conference in Victora Falls Thursday.
“These are the cornerstones of our nation’s progress. Good governance fosters investor confidence, ensures business continuity and sustainability and safeguards the public interest.
“It is not merely a compliance exercise but a strategic imperative that underpins economic growth and development,
“Your role as chartered governance and accountancy professionals is crucial in shaping the business landscape and ensuring ethical conduct across all sectors,” he said.
“As we advance the transformative agenda outlined by the conference’s theme, it is essential to embrace governance practices that foster a more prosperous and equitable Zimbabwe,” he added.
The conference theme is ‘A Governance and Accountancy Transformative Agenda: Towards a Shared Future for Zimbabwe’.
The Vice-President said realising this agenda required upholding high ethical and moral standards, not only in theory but in practice.
“Understanding these principles theoretically is not enough. They must be embedded in both your professional and personal lives,” he said.
He said effective governance goes beyond mere regulatory compliance. It embodied the principles of proficient management, ensuring transparency, accountability and ethical conduct, which were essential for the nation’s progress.
Dr Chiwenga said it should be recognised that significant strides had been made in governance and accountancy within the nation, each of which reflected the dedication and hard work of both the government and its people.
“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 of the private sector hinged on establishing a clear, responsible and ethically guided business environment.
“It is important to recognise that corruption represents a serious threat to our nation’s progress, distorting markets, undermining the rule of law and eroding public confidence,” he said, adding it was imperative for professionals in both private and public institutions to uphold ethical standards.
The government was committed to collaborating with the private sector to create a corruption-free ecosystem, through enforcement of anti-corruption laws, fostering strong partnerships, enhancing public awareness and providing robust protection for whistleblowers.
Turning to the role that technology can play in the country’s development, Dr Chiwenga said that Zimbabwe must fully integrate advanced technologies into its governance and accountancy frameworks to realise Vision 2030.
“Our current frameworks must evolve to support a rapidly changing economic landscape characterised by new technologies, global market integration and a commitment to honesty and transparency,” he said.
“Reforming our regulations to encourage compliance and adaptability will help ensure competition on the global stage and protection of the integrity of our institutions, a key requirement for the sustainable development envisioned by our developmental agenda,” he said.
“Going forward, let us work together towards a Zimbabwe where economic growth is not only rapid but also equitable and sustainable.”
He said the challenges ahead, which included resistance to change, resource limitations an technological hurdles, should serve as opportunities for growth, research and innovation.
“Together we can build a Zimbabwe that is prosperous, fair and prepared to meet the challenges and seize the opportunities of the 21st century,” he said.
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