Zimbabwe’s Public Entities Corporate Governance Act Passed

A new law, the Public Entities Corporate Governance Act has been passed. The law was gazetted on Friday, 11 May 2018.  Some key highlights include:

  • CEOs ofState Enterprises and Parastatals will serve for a maximum of 10 years.
  •  Permanent secretaries are no longer allowed to sit on the boards of public entities
  • A Corporate Governance Unit, a department in the Office of the President and Cabinet, is being established to monitor and evaluate the performance of public entities and their leadership
  • State Enterprises and Parastatals senior employees will have to declare assets and business interests exceeding $100 000.
  • Board members will not be allowed to access loans or any other credit facility from SEPs

More: Sunday Mail

Satisfaction survey
How likely is it that you would recommend Pindula News to a friend or colleague?
SuggestionsHow can we improve?
You have already submitted your feedback. If you would like to add more feedback please write us on hello@pindula.com.

RSS Recent Pindula Profiles

Comments

Back to top

Write a Comment

Your email address will not be published.