Mnangagwa Urges Accountants to be ‘Architects of Economic Transformation’

By Staff Reporter

HARARE – President Emmerson Mnangagwa was the guest of honour at the 9th Zimbabwe Accountants Conference today, April 10, 2025, where he called upon Zimbabwe’s accountants to be leaders of change in the economy of Zimbabwe. Themed, “Future Ready Profession: Innovate with Integrity, Sustain with Purpose,” Mnangagwa noted that accountants are not only record-keepers but “architects of economic transformation, custodians of corporate and public finance, and enablers of national development.”

The President placed emphasis on the indispensable role that accountants can play in advancing Public Financial Management (PFM), transparency, accountability, and effectiveness in the government sector. He appealed to them to promote tax revenue collection and compliance and collaborate with the Zimbabwe Revenue Authority (ZIMRA) to curb tax evasion and finance government programs.

In the private sector, Mnangagwa saw accountants as vital in driving business development, corporate governance, and financial discipline. He tasked them with ensuring business development, making industrialization, modernization, and overall economic development possible across all sectors.

Mnangagwa emphasized the importance of being ethical and reliable in the profession, especially in the handling of national resources. He announced the upcoming deadline for public sector organizations to adopt accrual-based International Public Sector Accounting Standards and urged tighter regulation to fight financial malpractices, illicit financial flows, and corporate fraud.

He appealed to accountants to maintain the International Federation of Accountants (IFAC) Code of Ethics, stating that “Zimbabwe will not tolerate corruption.”

Optimism for the future favored Mnangagwa to witness the changing world of accountancy anchored on digital transformation, artificial intelligence, and international financial trends. He urged accountants to adopt innovation, enhance reporting structures, and streamline management practices in line with best global practice. He also emphasized the need for the incorporation of Environmental, Social, and Governance (ESG) standards in financial management as well.