Corporate governance is  the system of rules, practices and processes by which organisations (companies, non-governmental organisations, state enterprises and parastatals) are directed and controlled. It involves balancing the interests of diverse stakeholders, including shareholders, management, customers/clients, suppliers, and the community  to ensure that organisations are managed in a fair, responsible, and transparent manner.Effective corporate governance is essential for maintaining investor confidence, promoting transparency and accountability, and fostering a culture of ethical business practices. By prioritizing good governance, organisations in Zimbabwe can contribute to the growth and development of the economy, while also creating long-term value for all stakeholders.

WHY CORPORATE GOVERNANCE?

• Promotes Transparency: Transparency is a key aspect of good corporate governance, which ensures that stakeholders have access to accurate and timely information about the company's operations, financial performance, and risks.
• Reduces Risk: Good corporate governance helps to reduce risk by ensuring that the company has effective risk management processes in place, which helps to mitigate potential threats to the company's operations and reputation.
• Improves Financial Performance: Good corporate governance has been linked to improved financial performance, as companies with strong governance tend to have better decision-making processes and are more likely to prioritize long-term sustainability.
•  Improves Accountability: Corporate governance ensures that there are clear lines of accountability, which means that executives and directors are held accountable for their actions and decisions.
• Enhances Stakeholder Engagement: Corporate governance encourages stakeholder engagement by providing a platform for stakeholders to participate in decision-making processes and provide input on company policies.
• Attracts Talent: Good corporate governance attracts and retains top talent by providing a positive work environment and demonstrating a commitment to ethical behavior.

BENEFITS FOR HAVING A GOOD CORPORATE GOVERNANCE:

• • Improved Governance: By participating in the survey, companies can identify areas for improvement in their corporate governance practices and take steps to strengthen their governance framework.
  • Benchmarking: The survey provides a benchmarking opportunity, allowing companies to compare their governance practices with those of other companies in their industry or region.
  • Increased Transparency: Participating companies demonstrate their commitment to transparency by sharing their governance practices and policies, which can enhance their reputation and build trust with stakeholders.
  • Stakeholder Engagement: The survey encourages stakeholder engagement by providing a platform for stakeholders to provide feedback and input on company governance practices.
  • Risk Management: By identifying areas for improvement, companies can better manage risks and mitigate potential threats to their operations and reputation.