...Describe and explain the different forms of church governance in Zimbabwe Governance is a set of policies, power and structure by which the rights, powers and privileges of people are processed and protected. The term “government” refers to the management, administration, rule or direction, control, command, authority or leadership which processes and sees to the implementation of these policies. The Church government is set to manage and control the privileges of the children of God e.g. prosperity, healing etc. Simplified, it is the organization pattern by which the church movement or congregation rules, controls or directs itself. Even in the church in Zimbabwe, there are different forms of governments because of different understandings of scripture. * Episcopal form of government This is also known as the hierarchical form. The word Episcopal comes from the words “Epis/ epic” which means top and “scopos” which means to see, look or sight. This means that there is a man at the top to oversee what is happening below him. The principal officer in this type of government is the Bishop/overseer who is followed by a Priest/ Presbyter/ elder and then the deacons. The Bishop has a right to ordain the elder and he governs the church. Every decision at local level comes from the Bishop at Head office. It’s not a scriptural system but simply draws from the fact that in the Bible Moses was an overseer, followed by Aaron the High Priest. There were also elders who helped judge...
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...mobile telecommunications corporate governance firms in Zimbabwe. By Mugombe Godfrey Background and Introduction The purpose of this study is to provide insight into the association between business performance of the telecommunications sector in Zimbabwe and corporate governance practices as prescribed in the Organization for Economic Cooperation and Development (OECD). It is widely believed that better corporate governance manifest itself in enhanced corporate performance and lead to higher economic growth (Brickley & James, 2011). There are four major players in the mobile telecommunications sector of Zimbabwe namely Econet Wireless Zimbabwe, Telecel Zimbabwe, NetOne and Africom. NetOne is a state controlled entity whilst the other three companies are privately owned with Econet Wireless Zimbabwe commanding the lion’s share of mobile telephone & broadband business in Zimbabwe (Econet Wireless Zimbabwe, 2013). Statement of the problem The major telecommunications companies in Zimbabwe like NetOne, Telecel, Africom and Econet have embraced corporate governance principles and practices since the turn of the new millennium. However, as Ernst & Young (2012) and Gwatiringa (2012) show, wide ranging differences on corporate performance exist in these companies even after the introduction of the multiple currency regime in 2009. It therefore remains unknown to the public stakeholders and the practitioners of corporate governance in general and potential investors...
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...11(1), 2011, 187-196 187 INTERNAL CONTROLS IN ENSURING GOOD CORPORATE GOVERNANCE IN FINANCIAL INSTITUTIONS KOSMAS NJANIKE, MARGARET MUTENGEZANWA, FUNGAI B. GOMBARUME * ABSTRACT: This paper assessed factors that influence the internal controls in ensuring good corporate governance in financial institutions in developing economies with special reference to Zimbabwe. The research paper assessed how lack of internal controls affected good corporate governance and aimed to bring out elements of good corporate governance. It emerged that failure to effectively implement internal controls contributed significantly to poor corporate governance. The study discovered that internal control system overrides and the issue of “fact cat” directors also contributed to poor corporate governance. The study recommended that there is need for the board of directors to guarantee an organizational structure that clearly defines management responsibilities, authority and reporting relationships. There is also need to ensure that delegated responsibilities are effectively carried out to ensure compliance with internal controls of the financial institution concerned. KEY WORDS: internal controls; corporate governance; ethical behaviour. JEL CLASSIFICATION: G21, G28; G30; G38. 1. INTRODUCTION The year period December 31 2003 to December 31 2004 witnessed the collapse of a number of financial institutions in Zimbabwe. This period witnessed a 27.5% decline in the number of registered financial...
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...Netherlands Paper prepared for the Constitutional Conference, Zimbabwe, October 26-29, 2009, Rainbow Towers, Harare, Zimbabwe Introduction Local community governance is essential not only for the practice of good governance but also of economic growth and development. For this reason most of the developed countries of the world, irrespective of their political or economic systems, have a robust system of local or community governance. This also explains why many developing and former communist states have made solid efforts to enhance the capacities of their systems of local governance since the third wave of democratic revolution swept through the world in the 1980s and 1990s and the results have been quite impressive. Africa may be the only exception to this general principle even though there have been some progress as well in some countries. Unfortunately, Zimbabwe has not been part of the good news as far as the effort to enhance the capacity of local governance is concerned. It is ironic that over time, the resilient institutions of local governance that were inherited at independence have deteriorated over time-both in the cities or in the rural areas. It is even further ironic that though community organs were crucial during nationalist struggles in the countries in which political independence involved military engagement between occupying powers and nationalist forces, the story of local governance has been lack-luster in these countries in Africa (Mozambique,...
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...Setting the pace and getting started in NGO Corporate governance. An Assessment of corporate governance for Non Governmental Organizations in Zimbabwe By Lasford Flackson lasyflackson@gmail.com .Tel:+263773931949 Table of contents Introduction Chapter one An overview of corporate governance The evolution of governance Development of corporate governance Approaches to corporate governance Chapter two Adaptation and adoption of corporate governance Ngo sector in Zimbabwe Requirements for NGO operation in Zimbabwe Guiding principles for good corporate governance Chapter three Conclusion and Recommendations 2 Introduction The collective problem of business today is increasingly attributed to the failure of corporate governance. This means that far too many boards are failing to execute their duties responsibly, both collectively and individually. Despite increasing awareness, there is a general lack of understanding of the principles of effective corporate governance in most quarters. The study sought to assess corporate governance issues and challenges for non governmental organisations. The study takes a point of departure in explaining how non governmental organisations can adapt and adopt effective corporate governance practices viz- a- viz, how NGOs can adapt and adopt to corporate governance. Several non governmental organisations do not observe good corporate governance and this to the collapse of many. There are no set rules ...
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...COURSE : Disaster and Livelihoods Management LECTURER : Dr S.Mombeshora QUESTION Discuss the application of the Sustainable application of the Livelihood Approach to disaster management in drought prone areas of one African country DUE DATE : 10 October 2015 Introduction There are several approaches to disaster risk reduction. These include the Sustainable Livelihoods Approach, the Ecosystem Approach, the Community Participation Approach and the Integrated Approach.This essay seeks to discuss the relevance of the application of the Sustainable Livelihood Approach to disaster management in drought prone areas of Zimbabwe as a strategy of improving communities’ resilience to drought. In doing so, the essay will also seek to analyse if there are no inherent weaknesses that may call for improvements in policy processes and governance structures. Definition of Terms Disaster: This is a severe alteration in the normal functioning of a community or a society due to hazardous physical events interacting with vulnerable social conditions, leading to widespread adverse human, material, economic, or environmental effects that require immediate emergency response to satisfy critical human needs and that may require external support for recovery. Disaster Management: This is a method or plan chosen to bring about a desired future, such as achievement of a goal or solution to a problem....
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... The need for corporate governance among listed and unlisted companies and state-run enterprises is so great in Zimbabwe. The drive toward corporate governance has been fuelled by a number of factors. There is wide recognition that corporate governance can contribute to the economic success of corporations and to their long-term sustainability (going concern). It is also recognised that good corporate governance can enhance corporate responsibility and improve the reputation of companies, which in turn can attract local and foreign investors. Corporate governance is also seen as a deterrent to corruption and unethical business practices that has scared our business image.( WOYO MANNERS 2013) The market discipline and transparency...
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...more. pdf An Evaluation of the Effectiveness of Public Financial Management Syste… 8 Pages An Evaluation of the Effectiveness of Public Financial Management System being used by Government Departments in Zimbabwe. (2000 – 2011) Uploaded by Donnelie Muzividzi Files 1 of 2 Views 3,402 connect to download READ PAPER Academia.edu An Evaluation of the Effectiveness of Public Financial Management System being used by Government Departments in Zimbabwe. (2000 – 2011) Download Research Journal of Finance and Accountingwww.iiste.org ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online)Vol.4, No.4, 201320exodus from the public sector and from Zimbabwe impacted negatively on the effectiveness of PFMS andaccountability systems, threatening day to day operations from the reform.Some human resources existed but not adequate in numbers and quality to perform some critical functions andoptimal utilization largely due to lack of working facilities.The shortfall has been found to have two dimensions: the technical dimension and the governance dimension. Onthe technical dimension, the effectiveness of the PFMS has been reduced due to failure to maintain the systemand inability to cope with number of digits due to hyper inflation. On the governance dimension, some existingregulations and procedures were not followed and this phenomenon pointed to weakness in implementation,monitoring and follow up. The outcome has been loss of confidence in the PFMS resulting...
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...Profile of Peter Chikumba as at December 2010. 2 Zebra Close, Borrowdale West Harare Mobile/ Business: +263912570040 Home tel: + 263 4 870193 Nationality: Zimbabwean D.O.B : 15/08/1954 E-mail: peterchikumba@gmail.com ------------------------------------------------------------------------------------------------------ PERSONAL ATTRIBUTES A mature, dynamic and hardworking person and an extrovert who is able to work as part of a multi-discipline team, committed to providing professional service and able to lead a cross-functional team. A firm and unwavering practitioner of Corporate Governance based on one value of INTEGRITY. Key Competencies: • Possess strong Technical Skills in Airframe and Engine maintenance technologies • Experience in building and leading multi-discipline and cross-functional teams, relationship management, influencing and inspiring teams, utilizing exceptional problem solving abilities. • Goal driven, careful and meticulous, critical of errors and unsystematic work • Proven leadership skills with commendable analytical and problem solving skills. Strong professional and personal integrity. • Strong interpersonal and reporting skills • Versatile and dynamic, having worked in different settings in different countries • Goal getter and a faithful executive • Total commitment to generosity in giving: time, talent, treasure...
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...FACULTY OF COMMERCE DEPARTMENT OF BUSINESS MANAGEMENT MASTERS IN STRATEGIC MANAGEMENT AND CORPORATE GOVERNANCE Name : BRIGHTON CHIROODZA Module : Advanced Strategic Management (MBM 702) Year : 2016 Lecturer : DR S NHUTA Assignment Question In organizations that lack strategic direction there is a tendency to look inwards in time of stress, management to cut costs and shade unprofitable divisions. This means that focus is on efficiency (relationship between inputs and output in short time horizon) rather than effectiveness (attainment of desired competitive position). Efficiency is introspective whereas effectiveness highlights the link between the organization and the environment. Discuss the above statements while giving specific examples in the Zimbabwean context. Introduction An organization that lacks strategic direction is like radar less boat. Failure to have a clear business strategic direction defeats the whole essence of engaging in that line of business, hence the need for organizations to charter their clear courses of action that help achieve the primary business objective of profitability and maximizing shareholders wealth by drawing much attention to the vision and mission of the organisation. The vision and the mission statement will enshrine the basic philosophy of the business by entailing an organization’s purpose of existence. It is the environment which we are operating on which helps make certain decisions in our stage...
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...DEPARTMENT OF INSURANCE & ACTUARIAL SCIENCE STRATEGIC MANAGEMENT: AN INDISPENSABLE APPARATUS TO CREATE SUSTAINABLE COMPETITIVE ADVANTAGE IN THE VOLATILE ZIMBABWEAN SHORT-TERM INSURANCE MARKET? By HENSLEY MADAMOMBE N010 7541D SUBMITTED IN PARTIAL FULFILMENT OF THE REQUIREMENTS OF THE B.COM (HONOURS) DEGREE IN RISK MANAGEMENT AND INSURANCE SUPERVISOR: MR A. NYANHETE MAY 2014 Dedication To my family You have been my source of inspiration and hard work. You sacrificed everything that you had for the sake of my education. From you, I have learnt that: ‘it is only through a disciplined mind that success can only be achieved’. I will always love and cherish you. And, to the late Mr Paul Malaba (Former Chairman of the Insurance and Actuarial Science Department at NUST) You have gone too soon dear Sir, but your immense contributions to the academic fraternity will forever be cherished. You were an inspiration and a father-figure to all of us. The Q.A.B courses at NUST will never be the same without you. i Acknowledgements First and foremost, I would like to give honor, praise and glory to the almighty lord for his unending mercy, protection and unconditional love: “I will praise thee, O Lord my God, with all my heart; and I will glorify thy name for evermore” (Psalms 86:12, King James Version). I would also like to thank my parents, Mr. and Mrs. Madamombe, for their parental advice, financial support, guidance and endless love. Dear father and mother: ‘you are my fountain of...
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...The Institute of Chartered Accountants of Zimbabwe IPSAS and role of the Accountancy Profession LOAN ? X ROAD: ASSET? X CASH? Y Road Madagascar, Loan US$ 150m N2, A, Country X, Loan US$ 150m Borrowings, guarantees…. • Borrowings? • Contingent liabilities? • Guarantees? 3 Questions • Should the transactions be recorded and presented and /or disclosed in governments financial statements? • …..how do you assess the quality of public sector financial information? • Should we improve public sector reporting? 4 Presentation outline… Quality of reporting - Africa IPSAS…why, what , adoption Role of the Profession Zimbabwe Conclusion Quality of financial information in Africa… PFM …. Key dimensions per PEFA Budget credibility Comprehensiv eness and transparency Policy-based budgeting Six critical dimensions of PFM system performance Effective audit and External scrutiny Accounting, recording and reporting Control and stewardship in budget execution 7 PEFA Assessments results..Africa (Oct 09) Link to economic growth… 8 PEFA overall results… Significant variability in average scores. Africa Region PEFA Scores (October 2009 data) 3.50 3.00 2.50 2.00 1.50 1.00 0.50 9 What about financial reporting? PEFA – Accounting Performance Indicators Indicator Description P1 22 Timeliness and regularity of accounts reconciliations P1 24 Quality and timeliness...
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...who govern or have a special position in the society. (common mwananchi) My understanding of the statement: giving common citizens or people the ability/ empowering them economically, socially for there general well being. Fallacy: We can take development to the people The fallacy in reasoning here is that we can empower local people so that they can take control of their own lives, express their own demands and find their own solutions to their problems. According to this fallacy, the empowerment of common citizens by people in governance or those who have a special position in the society is possible and likely to be achieved; it presumes that the government/ the high & mighty in the society are willing to empower the local people and the latter are ready to receive the empowerment. This fallacy fails to address pertinent issues that will affect the smooth realization of taking development to the people. Greed & power People in governance / the high & mighty in the society want to amass wealth for themselves at the expense of the common citizens. This has seen to it that few people control resources instead of trickling it down to the people and hence a wide gap between the rich and the poor. e.g. Robert Mugabe...
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...Economic Commission for Africa The Millennium Development Goals in Africa: Progress and Challenges Economic Commission for Africa The Millennium Development Goals in Africa: Progress and Challenges August 2005 © 2005. Economic Commission for Africa Material from this publication may be freely quoted or reprinted. Acknowledgment is requested, together with a copy of the publication. The views expressed are those of the original authors and do not necessarily reflect those of the United Nations. Project coordinator: Adrian Gauci Editorial coordination: Cristina Müller Team: Abebe Shimeles, Workie Mitiku, Vanessa Steinmayer, Reto Thoenen This report was produced with guidance and input from Augustin Fosu, Director of the Economic and Social Policy Division of the ECA. It benefited greatly from the revisions of Bartholomew Armah and Kwabia Boateng. Special thanks to Lorna Davidson for the final editing, to Akwe Amosu for her valuable input, and to Seifu Dagnachew and Teshome Yohannes for creative and efficient lay-out and production. The report was designed by the ECA Communication Team and printed by the Documents Reproduction and Distribution Unit, in Addis Ababa, Ethiopia. Photo credits (left to right): Front cover- R. Zurba/USAID, J. Dunlop/USAID, R. Zurba/USAID, M. Crozet/ILO. Back cover- J. Maillard/ILO, T. Brunette/USAID, I. Getachew/UNICEF. Table of Contents Acronyms .....................................................................
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...the future while price wars between airline companies have become ever more intensive due to increased competitive levels in the industry. Fuel costs as play a significant role in the day to day running of an airline as fuel costs constitutes 30% of total operational cost. This is due to existing rivalries as well as new entrants within the discount airline market segment. In contrast to its rivals SIA has preferred policies of adding extra value through customer service rather than ones of pure discounts on prices. Similarly investment in technology such as the development of an e-ticket system enhanced its strength in terms of cost effective sales and billing systems. These developments have been supported by skilled management and governance procedures which have generally resulted in SIA enjoying a strong financial framework benefiting from previous successful operations. A key indicator is that the load factor represents and determines the breakeven point between cost and profitability. It is also affected by other cost related factors in determining the profitability of an airline company. SIA is...
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