Of corruption and mega salaries

Whilst the Government is making efforts to revive the country's economy, it is very shocking, disturbing and worrisome to hear that parastatal bosses are abusing their privilege to pay themselves mega salaries at a time the nation is struggling to restore its blooming economic status.

Corruption can be defined as the misuse of a trusted position for illicit private ends. Corruption ranges across phenomena, including bribery, extortion, fraud and outright theft.

Of worthy noting is that corruption does not affect a single person alone, instead, it affects every citizen in the country. Most parastatal bosses should be reminded that, widespread corruption can hamper the ability of a nation to achieve progress and it can damage their relationships with other countries.

On a smaller scale, corruption can tarnish the reputation of the affected organization, costing it the trust of the public which can later sway public opinion in different directions. Parastatals have an important role to play in developing vital economic infrastructure, managing state assets, and driving the transformation of customers and suppliers. Unlike private enterprises which care only about enriching themselves, parastatals should be there to invest their free cash to support growth of a nation.

Truth be told, corruption by public officials doesn't just mean citizens money wasted. It also means that the public needs are not fairly and properly considered when projects are designed and implemented. Corruption undermines the quality of work and services, which in turn can damage business environment.

There are many foreign investors promising to invest in the country. It is necessary for the responsible authorities to take immediate action and act on all corrupt officials before the country loses potential investors to other neighbouring countries.

The Government has the will and the intent to create businesses that support the long-term economic development agenda for the benefit of society as a whole. For example, the economic blue print, ZIM-ASSET which advocates the eradication of poverty should be fully implemented by these state enterprises. Parastatals should engage in projects that compliment Government development programmes.

Most local authorities and parastatals Chief Executive Officers (CEOs) should be encouraged that delivery of services without fraud and corruption is the key to economic growth.

Public Service, Labour and Social Welfare Minister, Prisca Mupfumira told one weekly paper that the law would take its course on all those who would be found guilty of corruption.

It is reported that five National Social Security Authority (NASSA) executives were recently sacked for corruption and mismanagement which extended to crooked loans splashed to their lovers plus mega salaries pegged at $40 000.

Indeed, this is off putting!
It is, however, heartening that the Government made extra efforts to formulate a National Code on Corporate Governance which was launched early this year by Vice President Emmerson Mnangagwa. The National Code on Corporate Governance provides a framework of conduct for both public and private sectors.  All public and private companies must be encouraged to abide by this code without fail.

Before the launch of the National Code on Corporate Governance, all companies were expected to adhere to the regulations of The Companies Act (Chapter 24:03).  

There are also a number of policies in place that governs the activities of companies in Zimbabwe. For example, Prevention of Corruption Act, Chapter 9:16. Most companies especially parastatals seem to be turning a blind eye to this vital Act that governance the operations of companies in the country. There are rampant cases of corruption and fraud being reported day in and day out. Such cases are derailing the activities of Government and fruition of ZIM-ASSET.

Fighting corruption in any country should be a priority as it assists in ensuring development. It is imperative to note that transparency, integrity and accountability should be in place to ensure that public procurement is corruption free.

Reports from the Auditor General, Mrs Mildred Chiri should be actioned instantly and those found against the law should be put behind bars.

Recently, Secretary for Transport and Infrastructural Development, Munesushe Munodawafa criticized the State for not giving him adequate reason why it was not necessary for him to be removed from remand. However, it is essential for Government to suspend any official facing counts of criminal abuse of office from handling public business until investigations are complete.