📋 Tender Overview
Approval Date 31 Oct 2023
Planned Completion Date 31 Dec 2026
Last Disbursement Planned Date 31 Dec 2026
Sovereign / Non-Sovereign Sovereign
Sector Multi-Sector
DAC Sector Code 15124
Environmental Category: 3 Climate Safeguards Categorization: 3
Gender Marker System Categorization: GEN III
Commitment U.A 4,000,000
Status Approved
Project General Description
The proposed project seeks to strengthen governance and management of State Enterprises and Parastatals (SEPs) thereby reducing fiscal risks and facilitating economic recovery. Improved corporate governance and financial oversight of SEPs are meant to promote efficiency in public expenditure management, increase returns to treasury through declared dividends, reduced fiscal risks as reflected in lower contingent liabilities. SEPs reform is an integral and critical support for arrears clearance and sustainable debt management, hence critical for macroeconomic stabilisation. The key expected outputs include improved human capacity, SEPs centralised agency established and operationalised, five performance reviews undertaken, and Corporate Governance Management Information System developed, gender and climate change guidelines developed and mainstreamed, among others. The Project has three components, namely: (a) strengthening financial performance of state enterprises; (b) enhancing corporate governance and financial oversight; and (c) Project management.
Project Objectives
The overarching development objective of the project is to strengthen governance and management of public entities thereby reducing fiscal risks and facilitating economic recovery. The specific objectives are to: (a) enhance corporate governance and financial oversight of state enterprises; and (b) strengthen financial performance of SEPs; and (c) reduce contingent liabilities and fiscal risks.
Beneficiaries
The project’s beneficiaries are the Office of the President and Cabinet (the Corporate Governance Unit and CGU) and MoFEDIP including the Aid Accounting, Funds and Parastatals Department SEPs centralised administration agency, and the Office of the Auditor General. Indirect beneficiaries are citizens who will receive improved service delivery and reduced bailouts and financial support to SEPs.
Participating Organization
Funding
African Development Fund
Implementing
GOVERNMENT OF ZIMBABWE MINISTRY OF FINANCE & ECON DEVELOPMENT
