VP Mnan­gagwa calls for fi­nan­cial pru­dence

Chronicle (Zimbabwe) - - National News - Zva­maida Mur­wira Harare Bu­reau

THERE is a need for strong le­gal frame­work to en­hance State en­ti­ties’ ca­pac­i­ties to deal with fi­nan­cial crimes and cor­rup­tion, vices that have plagued the econ­omy, Vice Pres­i­dent Em­mer­son Mnan­gagwa has said.

He said pub­lic au­di­tors and pro­fes­sional ac­coun­tants had a duty to root out the scourge of cor­rup­tion and fi­nan­cial mis­man­age­ment as it worked against the moral fab­ric of so­ci­ety and the fun­da­men­tal ethos of good gov­er­nance.

VP Mnan­gagwa said this on Thurs­day evening dur­ing a speech read on his be­half by Harare Metropoli­tan Pro­vin­cial Af­fairs Min­is­ter Cde Miriam Chikukwa, dur­ing a cer­e­mony to award lo­cal au­thor­i­ties, ter­tiary in­sti­tu­tions and state en­ti­ties that ex­celled in var­i­ous dis­ci­plines of fi­nan­cial man­age­ment and ac­count­abil­ity.

“The coun­try has to tackle sys­tem­atic cor­rup­tion through il­licit fi­nan­cial flows by pro­mot­ing the con­cept of good cor­po­rate gov­er­nance. So­phis­ti­cated crimes such as or­gan­ised fi­nan­cial crimes and cor­rup­tion re­quire suf­fi­cient ca­pac­i­ties and a strong leg­isla­tive frame­work in or­der to ef­fec­tively deal with it,” said VP Mnan­gagwa.

He said the pub­lic sec­tor had played a crit­i­cal role in the post in­de­pen­dence era in the so­cio-eco­nomic de­vel­op­ment of the coun­try.

“I want to re­it­er­ate that, de­spite the pre­vail­ing eco­nomic sit­u­a­tion, Zim­babwe presents bet­ter op­por­tu­ni­ties for all cit­i­zens to­day than it did be­fore the at­tain­ment of in­de­pen­dence in 1980. This is a di­rect re­sult of Gov­ern­ment ini­tia­tives and our pub­lic sec­tor poli­cies that are peo­ple ori­ented,” said VP Mnan­gagwa.

“It is there­fore im­per­a­tive that we cher­ish our achieve­ments and in­crease our de­sire for im­prove­ments in all spheres of our op­er­a­tions at all times.”

In the quest to pro­mote sound cor­po­rate gov­er­nance and ac­count­abil­ity, said VP Mnan­gagwa, Gov­ern­ment set up two units that would deal with gross fi­nan­cial mis­man­age­ment and cor­rup­tion in loss mak­ing en­ti­ties.

“One of the units fo­cuses on analysing fi­nan­cial state­ments of all pub­lic sec­tor in­sti­tu­tions, while the other fol­lows up all au­dit find­ings and rec­om­men­da­tions done by the Au­di­tor Gen­eral,” said VP Mnan­gagwa.

“They en­sure that what­ever de­fi­cien­cies are re­vealed therein, are duly ad­dressed by the line min­istry and that where such con­cerns are raised in re­spect of state en­ter­prises, they have the role of en­sur­ing that the line min­istry, in col­lab­o­ra­tion with the board and man­age­ment of the en­tity, ef­fec­tively ad­dress those con­cerns.”

Vic­to­ria Falls mu­nic­i­pal­ity and Mvurwi town coun­cil scooped prizes in sev­eral cat­e­gories of fi­nan­cial man­age­ment while Joshua Mqabuko Nkomo Polytech­nic col­lege, Harare Polytech­nic col­lege and Hill­side Teach­ers’ Col­lege won in the cat­e­gory of ter­tiary in­sti­tu­tions.

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