THE Institute of Administration and Commerce (IAC) has said Zimbabwean businesses are failing to effectively compete on the regional market because of the economic challenges facing the country.
By Our Staff
IAC President Phineas Chihota told a media briefing on the upcoming Zimbabwe Accountants Conference, that the liquidity crunch and stringent lending conditions were hampering efforts by local companies to penetrate the regional markets.
“Policy and policy formulation is difficult at the moment. Zimbabwe has alignment with Sadc and Comesa but the fundamental question is whether Zimbabwe is benefitting at the same level as other countries in the region or not,” said Chihota.
He said deliberations at the conference would assist people to gain a greater understanding on how to deal with the basic fundamentals of the business environment in Zimbabwe.
The inaugural Zimbabwe Accountants Conference is being hosted by the Public Accountants and Auditors Board (Paab) in collaboration with its constituent bodies.
The conference, to be held in Harare from April 10 to 11, is an opportunity for the accountancy profession, policy makers, industry leaders and other stakeholders in both the public and private sectors to observe and leverage on past experiences and in the process influence future strategies.
This year’s conference focuses on the business environment in Zimbabwe. The World Bank will also make a presentation on the Ease of Doing Business reports, processes and methodologies and present their recommendations on Zimbabwe.
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A panel discussion comprising key stakeholders in the economy will discuss and make their recommendations on what needs to be done to improve the business environment in Zimbabwe.
Topics to be discussed include navigating an uncertain world, cost efficiencies in public private partnerships, indigenisation law implementation and unpacking the soon to be launched Zimbabwe National Code on Corporate Governance.
Panelists and speakers include Media, Information and Publicity minister Jonathan Moyo, Youth, Indigenisation and Empowerment minister Francis Nhema and JSM Capital chairman Joe Mutizwa, among many others.
Institute of Chartered Accountants of Zimbabwe (Icaz) President Tinashe Rwodzi said the main thematic focus for this year’s conference was that of governance and how it affected business.
“Governance is the fundamental of any institution and if that governance is good, then the institution is likely to be strong,” he said.
Rwodzi said discussions would also be on whether goals and obligations of organisations were properly structured at operational levels.
