Corporate Governance “Codes are effective tools for helping companies improve their governance practices; provide clear guidance for financial and non-financial disclosure; foster better engagement of minority shareholders; and, clarify the respective roles of managers and directors”, observes the Global Corporate Governance Forum, February 2008 Newsletter. It was with this in mind and more that this National Code of Corporate Governance, was initiated.

In formulating this Code we were aware of the current legal framework in which companies operate in Zimbabwe. This Code therefore seeks to establish a firm basis of corporate behavior that will, among other things, inform future revisions of corporate law in Zimbabwe. Having regard to the level of corporate governance compliance in Zimbabwe, this Code is meant to be developmental in outlook especially in view of the prospective growth of small and medium enterprises that will require guidance on how to attract and manage investment capital in a sustainable way. We were also cognisant of the economic difficulties and transformation challenges which Zimbabwe is currently going through, and so we attempted to ensure that this Code was formulated in such a way that it attends to the risks inherent in the transformation of Zimbabwe’s business environment. If this Code is widely applied in Zimbabwe its revision will inevitably become necessary in light of experiences gained.

• According to the NATIONAL CODE ON CORPORATE GOVERNANCE ZIMBABWE