Zimbabwe and Seychelles to exchange experience on corporate governance practices in public entities |04 March 2020
The Zimbabwean delegation during a meeting with Mr Tirant yesterday (Photo: Joena Meme)
A delegation from the State Enterprise Reform, Corporate Governance and Procurement Department of the Office of the President of the Second Republic of Zimbabwe is currently conducting a week’s study tour in Seychelles from March 2 to 10, 2020.
The delegation is in Seychelles mainly to learn from Seychelles’ experience on the management, oversight, and corporate governance practices in their public entities. Locally, the tour is being organised by the Public Enterprise Monitoring Commission (PEMC).
Georges Tirant, the chief executive of PEMC, explained to the Zimbabweans that the organisation acts according to the Public Enterprise Monitoring Commission Act, 2013.
“Our mission is to monitor and evaluate the overall performance of public enterprises and to promote ethics of good governance in all their business transactions. We also ensure efficient operation of such enterprises, promote ethics of good governance in all business transactions, including financial matters such as investments and budget, give recommendations to improve performance and thus increase the return on investments,” noted Mr Tirant.
He also noted that PEMC has drafted a new piece of legislation for its organisation.
During their visit, the delegation is hoping to enrich the government of Zimbabwe’s current process of reviewing the country’s Ownership Model and to learn on the experiences of Seychelles with regard to public entities reforms such as consolidation, privatisation, unbundling, among others.
They will also draw lessons that will inform on the institutional enhancement of the Zimbabwe framework; to empower the personnel of the unit with practical knowledge with a view to improve on their technical know-how and to benchmark the unit’s future performance.
All the workshops are being held at PEMC and the group will be visiting the Procurement Oversight Unit, the Seychelles Public Transport Corporation, PEMC Financial Analysis Section, Public Utilities Corporation, Seychelles Petroleum Co. Ltd, PEMC Governance & Compliance Section, Seychelles Trading Co. Ltd, National Information Services Agency, Société Seychelloise d’Investissement, Ministry of Finance, Trade, Investment & Economic Planning, Air Seychelles, Seychelles Civil Aviation Authority and Development Bank of Seychelles.
They will also pay a courtesy call on Ambassador Maurice Loustau-Lalanne, the Minister for Finance, Trade, Investment & Economic Planning.
Vidya Gappy