Sustainable Development Through Corporate Governance: The Nuts and Bolts for the Grain Marketing Board in Zimbabwe
DOI:
https://doi.org/10.26668/businessreview/2023.v8i5.1496Keywords:
Corporate Governance, Sustainable Development, Grain Marketing Board, Zimbabwe, ParastatalAbstract
Purpose: This study sought to explore the practice of good corporate governance to promote the sustainable development of the Grain Marketing Board.
Theoretical framework: The extent to which public entities such as parastatals uphold basic corporate governance tenets to ensure sustainable development is critical for economic growth, stability, and attraction of investment capital. Yet the Grain Marketing Board (GMB) in Zimbabwe appears to be grappling with a myriad of challenges affecting its performance, sustainable development and food security. The net effect of how it is run exposes it to administrative ills like theft, cronyism, manipulation, nepotism, corruption, and human capital abuse.
Methodology: A qualitative research method was used through document analysis and a literature survey. This included an analysis of policy documents, articles from newspapers, the internet, interviews, journal articles, expert reports, and GMB depot field visits.
Findings: It was revealed that excessive government interference militates against the GMB’s profitable activities.
Practical and social Implications: The board is not wholly empowered owing to various competing organizational interests, for instance, the paucity of board autonomy, the inadequacy of board capacity development and training programs, corruption, and board remuneration among others.
Originality: The value of the study is to provide a raft of recommendations for policy and paradigm shift is provided to revamp the GMB to foster sustainable development.
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