THE Institute of Directors Zimbabwe (IoDZ) says there is need for specific training and accreditation for board members to improve adherence to corporate governance and stem corruption.
Mike Juru, the IoDZ chairman
Mike Juru, the IoDZ chairman, said there is a gap in the market which was leading to unprofessionalism and enabling corruption.
“The success or failure of organisations hinges on the quality of directors that we have. There are specific responsibilities which come with the office of director.
“You should be able to direct and give oversight. To steer the ship in the right direction,” Juru said.
“Our current weakness is that we do not have a specific criterion for the appointment of directors. There is no structured training which is recognised. The same way we talk of accreditation for lawyers, doctors and journalists”
Juru added that the code on corporate governance comes in handy as it largely addresses the fundamentals in terms of directors’ roles.
“The devil is, however, in implementation. This requires continuous training and development, which IoDZ offers, as well as stringent and consequential monitoring mechanisms at institutional level, and at a national level.
IoDZ with its partners is working on upgrading the National Code on Corporate Governance and further working on upgrading the Director Handbook”.
The IoDZ recently signed a MoU with the Zimbabwe AntiCorruption Commission to ensure that corporate governance practices are engraved across sectors through training, research and development.
“The partnership is one of the many collaborations we are pursuing with the government as part of our national investment towards inculcating a national culture of responsibility and good governance. This national culture aligns to our Sustainable Development Goals as enshrined in Vision 2030”.
IoDZ was established to raise standards and levels of good corporate governance in 1958 as a membership-based not-for-profit organisation.
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