THE Zimbabwe Anti-Corruption Commission (Zacc) has warned that the achievement of vision 2030 targets is in jeopardy if losses in both the public and private sectors are not curbed.
Over the years, numerous instances of corruption involving powerful executives have rocked various institutions, causing the country to miss out on potential revenue due to security flaws.
Zacc chairperson Michael Reza stated in a speech read on his behalf at a loss control summit held in Nyanga last week that if losses are not reduced, the goals for Vision 2030 are doubtful.
“Achievement of Vision 2030 and National Development Strategy (NDS1) targets may be compromised if public and private sector losses are not curbed and the bottomline not attained,” he said.
“As Zacc, we are committed to working with all sectors to ensure the vision of an upper-middle income economy status is attained by 2030.”
The Zacc boss added that the commission evaluated compliance at government ministries and organisations through spot checks and assessments, and the results were startling.
He said Zacc undertook regular compliance checks aimed at detecting loopholes for corruption within institutions.
“At Zacc, there is a department that is dedicated to prevention of corruption and corporate governance. Through that department, Zacc undertakes compliance checks and systems reviews for organisations,” Reza said.
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“This is a strategy aimed at detecting loopholes for corruption within organisations and recommending the strengthening or improvement of internal systems.
“In 2023, the commission conducted 58 compliance spot checks and four systems reviews at various institutions including local authorities, independent commissions, government ministries and agencies. Our results in some cases were frightening and for obvious reasons I will not share them,” he added.
Reza added that institutions with good internal controls have minimal losses and that stronger internal systems are an antidote to corruption.
According to Reza, the evolving digital landscape requires institutions to continually upskill in order to keep up with the hunger that drives criminals to avert systems.
