Fresh push for SMEs to adopt governance practices

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Fresh push for SMEs to adopt governance practices
Fresh push for SMEs to adopt governance practices

Africa-Press – Zimbabwe. The Chartered Governance and Accountancy Institute in Zimbabwe (CGI Zimbabwe) says governance must be the heartbeat of small to medium-sized enterprises (SMEs).

The call by CGI Zimbabwe president Judith Buzuzi comes as SMEs represent the majority of the economy, part of an informal sector that contributes nearly 70% of all economic activities, generating an estimated US$14,2 billion in annual revenue.

Speaking at the institute’s just-ended two-day Winter School for Chartered Governance and Accountancy Professionals held in Masvingo, Buzuzi said many SMEs remain vulnerable due to weak governance structures, informal practices and limited access to capacity-building.

“To drive inclusive and sustainable growth, we must bring governance to the centre of SME development — not as a compliance burden, but as a transformative enabler of resilience, transparency and investor confidence,” she said.

“Our task as governance and accountancy professionals, therefore, is to go beyond traditional boundaries and embed ourselves where we are needed most — in advising, mentoring and strengthening the governance architecture of emerging enterprises. We must democratise governance — making it accessible and practical for small businesses, co-operatives and startups.”

The Winter School provided opportunities for governance and accountancy professionals to sharpen their tools.

“Whether it’s through exploring cybersecurity, sustainability reporting, ethical leadership, or digital transformation, each session equips us not just for the boardroom, but for the broader responsibility of nation-building,” Buzuzi said.

“CGI Zimbabwe stands ready to lead this transformation. We are building partnerships, crafting relevant qualifications and advocating for professional standards that uplift the most underserved sectors of our economy. Our vision is clear: a profession that is responsive, inclusive and future-fit.”

The theme of this year’s Winter School, Upskilling Governance and Accountancy Professionals for Enhanced Organisational Resilience, was chosen in acknowledgement of the current challenges and opportunities facing the professions.

According to the institute, the imperative for continuous professional development, adaptability and unwavering ethical standards has become greater, in an era marked by rapid technological innovation, economic volatility, and increasingly complex regulatory environments.

“We convene here not merely to fulfil CPD [Continuing Professional Development] obligations, but to transform — to reimagine the future of our profession and to sharpen our capacity to lead and adapt,” CGI Zimbabwe chief executive officer Lovemore Gomera said.

He said the collective success as governance and accountancy professionals lies not only in technical acumen but in the ability to integrate strategy, foresight and sustainability into every decision.

“We are no longer just compliance officers or accountants — we are strategic partners, ethical stewards, and architects of long-term value,” Gomera said.

“As CGI Zimbabwe, we remain steadfast in our mission to elevate the standards of governance and accountancy in the country and across the continent. Let this Winter School serve not only as a training ground but also as a launchpad for fresh ideas, stronger networks, and renewed purpose.”

Topics covered at the Winter School centred on cyber security, optimising workforce productivity in an era of connectivity, entrepreneurship in Zimbabwe and ethical leadership.

Others included transforming financial reporting, Investment options in Zimbabwe, sustainability and ESG reporting, mastering professional grooming and etiquette for career success, and promoting workplace wellness.

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