Business Development

Zimbabwe Institute of Risk Management To Foster Good Corporate Governance

By Anyway Yotamu and Joyce Mukucha

The Zimbabwe Tourism Authority (ZTA), First Mutual, TelOne, Mimosa amongst other stakeholders has partnered with Institute of Risk Management (IRM) Zimbabwe regional group to officially launch the Zimbabwean regional group to ensure that the nation catches up with the leading global practice.

The IRM regional group’s main thrust seeks to push the agenda on risk management as a critical tool in upholding good corporate governance through risk management for both public and private entities.

In his keynote address during the launch in Harare on the 30th of September 2019, the Permanent Secretary for Corporate Governance Unit in the Office of the President and Cabinet, Mr Willard Manungo emphasised that it was of paramount significance to share values and ideas as well as finding strategies in as much as managing risks was concerned.

“We appreciate joining you as you embark on this timely and positive initiative that also attempts to embrace as many stakeholders. The aspirations of good risk management practices are consistent with our national vision 2030, outlined by His Excellency, President ED Mnangagwa. Vision 2030 provides for us the roadmap which is guiding the nation “Towards a Prosperous and Empowered Upper Middle Income Society by 2030,”he said.

He reiterated that Government recognises the adoption of risk management as an important outcome in striving to re-orient the performance and fortunes of the various public entities.

The chairperson of IRM Zimbabwe regional group, Margret Mukarazhizha explained that from 2018 to date, they have managed to run a number of workshops to drum up support, share ideas, and spread the news of the formation the Harare IRM regional group and ensure that chances for success were increased. The initiative, she explained, breaks a new ground which aims at mitigating risks and champion sustained development in a discipline, practice and culture of risk management in Zimbabwe.

“To us, the timing of the formation of the indigenous IRM Zimbabwe regional group was indeed prophetic and one thing was for certain. It was at the right time, the right place and the right thing to do. This breaks a new ground which aims at mitigating risks and championing sustained development in the discipline, practice and culture of risk management in Zimbabwe,” she said.

Mukarazhizha explained that they have taken cognisance of the fact that the Zimbabwean Government is also pushing the agenda with risk management as a critical tool in upholding good governance.

The Zimbabwe regional group was formed in 2017 after risk management practitioners identified a gap in the risk management profession. The board is currently run by an all-inclusive elected volunteer coordinating committee which was approved by IRM Global with members from both the public and private sector.

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Byron Adonis Mutingwende