The Institute of Directors of Zambia has urged Government to speed up the reconstitution of boards for state-owned enterprises to ensure sustainable and effective management of resources in the affected companies.
Institute president, Julu Simuule, noted that some state-owned enterprises have been running without boards for some time now following Government’s move to reconstitute their boards, adding that the situation has made it difficult for the affected managements to effect decisions in a transparent and accountable manner.
Mr Simuule stated that whilst recognizing that boards in the state-owned enterprises are rightly reconstituted, the pace at which this is done is critical for timely decision making and enabling those charged with governance duties to effectively and legally discharge them.
He said in a statement made available to ZANIS in Lusaka today that corporate governance should be seen as a system of monitoring and guidance meant to curb mismanagement of the concerned institutions.
Mr Simuule, however, commended Government for its undertaking through its line ministries, to reconstitute boards of many state-owned enterprises, statutory bodies and other corporate entities in the public domain in a bid to make them more efficient, transparent and accountable.
He said this institution promotes sound corporate governance principles and ethics in order to ensure proper management, control and accountability for affairs of public and private enterprises in the country and in the process, preserve and secure the interests of all stakeholders.
Mr Simuule also applauded the initiative taken by some organisations to advertise positions for potential board members in the press, saying this is a good concept which promotes efficiency, transparency, effectiveness and accountability in the conduct of good corporate governance practices by such boards.
ZANIS
Heeeee give PF a break, they don’t understand what you are complaining about. One person, Kabimba, can’t be everywhere no time for boards.
Surely they should have found enough Bembas to fill these boards by now?
A statutory instrument should be passed forbiding any one to sit on more than one board. The reason why these boards are not effective is because some people have too much on their plate. They sit on this board and that board and collect cool cash for drinking tea and dozzing.
Bakateka, we are still waiting. There is nothing to fear, just appoint more of us. The bantustans can complain all they want. We are the ruling class for the next 100 years. If they don’t like it, they can get the hell out of our country!
They are still training Kaponyas at Matero University and Kulima Tower School of Economics to take over. Graduation ceremony will be in 2016 December, I hope they will still be in power by then.
Fishing for govt jobs! Directors get a life learn to survive outside GRZ sphere
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