IoDZ wants to equip civic leaders with knowledge on CDF administration

THE Institute of Directors of Zambia (IoDZ) is exploring ways of partnering with Government in equipping civic leaders with knowledge on the administration of the Constituency Development Fund (CDF).

IoDZ president Edward Kabwe said by doing so they would aim to enhance transparency, accountability and effectiveness in the management of the funds which would ultimately lead to more impactful community development projects and initiatives.

Mr Kabwe said there was need to ensure that the procurement process was supported by proper documentation so that when auditors come to audit the transaction, the transactions would be easily verifiable.

He said they would make sure that controls to make sure that reports on how the money was spent was done periodically.

“From our side corporate governance has one of the tenets which was controls, transparency and accountability, there are two aspects to this, the first one being to set up controls around application of CDF the second aspect was the people that were applying it, the kind of knowledge they have in procurement, accountability and reporting and that was what they teach as IoDZ,” he said.

Mr Kabwe said this during the media launch of the corporate governance conference and award gala which would be held from May 29 to 31, 2024 at Avani Hotel in Livingstone under the theme championing change- the board’s impactful role in environmental, social and governance success.

He also said IoDZ continued to place key interest in the strategic cooperation and collaboration that they had with both the public and private sector.

Mr Kabwe also announced that they had been in constant conversations and engagements with the Industrial Development Corporation with the view of developing a corporate mechanism of enhancing corporate governance and its subsidiaries as well as investee companies.