HARARE – The Zimbabwe National Roads Administration (Zinara) has been honoured for emerging with flying colours in the corporate governance public sector following results of a recent financial audit.

The praise follows the roads administrator’s recent presentation of audited 2020 and 2021 financial results, which were subjected to public scrutiny at the parastatal’s sixth Annual General Meeting held in Harare on Monday.

Transport and Infrastructural Development Minister Felix Mhona, who was represented by his permanent secretary Engineer Theodius Chinyanga, led the plaudits for Zinara.

“I am aware of the various initiatives that Zinara is undertaking to improve its governance systems,” he said.

“I commend the board and management for rewriting the script for Zinara and I am equally proud to be associated with the organisation.”

He also applauded Zinara for complying with the Public Entities Corporate Governance Act, which requires public entities to hold annual general meetings to be attended by representatives of the line ministry and other stakeholders.

Corporate Governance Unit chief director Sanguita Popatlal also hailed Zinara for improving its systems and presenting clean financial results.

“Zinara has made significant progress in improving its corporate governance practices,” said Ms Popatlal. “This is evident in the clean financial results that the parastatal has presented.”

Zinara chief executive officer Nkosinathi Ncube said the parastatal had achieved significant milestones in its turnaround journey in 2021.

“During the period under review, we disbursed $13.2 billion to road authorities through the Emergency Road Rehabilitation Programme,” said Ncube.

“We also strengthened our risk, audit, and assurance departments to mitigate and prevent criminal activities.”

Ncube said Zinara was committed to continuing to improve its corporate governance practices in order to maintain the trust and confidence of its stakeholders.

The positive response to Zinara’s recent financial results is a clear indication that the parastatal is on the right track in its efforts to improve its corporate governance practices.

This is a welcome development, as good corporate governance is essential for ensuring the long-term sustainability of any organisation.