Staff Reporter

In a momentous event today, Professor Mthuli Ncube, the Minister of Finance, Economic Development and Investment Promotion, launched a comprehensive Risk Management Framework and Guideline for the public sector.

Addressing the gathering, Minister Ncube emphasized the critical role of effective risk management in achieving Zimbabwe's goal of becoming a middle-income economy by 2030.

 "Achieving a middle-income economy by 2030 requires us to manage risks," he declared, underlining the importance of a proactive approach to navigate the complexities of the financial landscape.

The treasury, under Minister Ncube's leadership, has developed a meticulous risk management guideline and framework. The framework aims to address key concerns, including ensuring efficient service delivery to the people of Zimbabwe, maintaining financial prudence with transparent use of public funds, and upholding competitiveness while adhering to ethical standards.

Minister Ncube outlined the threefold focus of the risk management framework.

Minster Ncube stated: "This seeks to address concerns related to our people, financial prudence, and the course of our work."

He further highlighted the ongoing commitment to developing and communicating a robust risk management strategy across all authorities.

The purpose of the framework is clear: to enable the efficient management of risks within the country's financial sector. The accompanying guidelines serve multiple purposes, including uplifting accounting officers, providing guidance on the development of Government entities, and setting a standard for uniformity in risk management.

Minister Ncube stressed, "There is no doubt that the implementation of this framework is paramount to the country’s attainment of Vision 2030."

He further underscored the significance of risk assessments in identifying root causes and devising effective mitigation strategies. The Minister urged accounting officers to take note of the risk management guidelines, recognizing their pivotal role in ensuring the success of this initiative.

The launch of the Risk Management Framework marks a significant milestone in Zimbabwe's journey towards economic prosperity. Minister Ncube's vision for a resilient and responsible financial sector is now backed by a comprehensive strategy that aligns with the nation's aspirations for the year 2030.