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The Zimbabwe Code on Corporate Governance (Zimcode) has taken a step in promoting global governance convergence in Zimbabwean businesses, with a growing number of companies embracing international corporate governance standards.
Zimcode hosted a forum last night in Greendale, where stakeholders from various sectors gathered to discuss emerging trends in corporate governance.
By Vongai Masuka
The forum focused on updating the Zimbabwe Code on Corporate Governance, with a report unveiled emphasizing the growing importance of global governance convergence.
In his report, the Prospective Chair of International Best Practice Committee Member, Fungwa Mawarire, the convergence is particularly important for organizations like the Standards Association of Zimbabwe (SAZ) and other international businesses in Zimbabwe.
“By aligning with globally recognized standards, these entities can demonstrate their commitment to robust governance frameworks, enhancing their credibility and competitiveness on the global stage,” Fungwa said.
The report also highlighted the increasing importance of Environmental, Social, and Governance (ESG) factors in core business strategies.
The Zimcode Fundraising committee chairperson, Mr. Luxon Zembe, congratulated Zimbabweans for crafting and adopting ZIMCOD 1, a code of corporate governance for public and private organizations.
“We congratulate Zimbabweans, through Zimcode Partners, for crafting, adopting and codifying Zimcode 1 for good corporate governance and effective management of our public and private organizations,” Mr. Zembe said.
“Among and between us all, Zimbabweans have the resources, capacity and capabilities to come up with the second issue of world class Code of Corporate Governance which will be a source of inspiration world over. We therefore call for a shared vision and unit of purpose and action.” Zembe added.
The forum emphasized the need for continuous review of guiding principles and practices to keep pace with national aspirations and international trends.
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