An assessment of corporate governance in state-owned enterprises in Zimbabwe within the period 2005-2015: the case of the Hwange Colliery mine (2010-2014)
Mumba, Blessed Dzidzai
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Leadership in any sphere of life, is a given constant. All entities - either political, social, economic or corporate – require some form of leadership to direct its affairs and maintain its focus on its aims and objectives. The presence of leadership therefore, equally demands a sense of responsibility, which is what corporate governance entails. This study thus, aims to identify and evaluate the existence of corporate governance in state-owned enterprises in a sub-Saharan African socio-economic setting. It makes use of the Hwange Colliery in the North-Western part of Zimbabwe as a specific case study. The study tries to establish the presence (or otherwise) of all characteristics of proper corporate governance; how they have impacted on the operations - and running – of the colliery over the years and how the current state of the colliery has affected its most-important stakeholders such as staff and immediate (host) community. Making use of primary and secondary research methods - such as interviews and pictorial data - the study attempts to determine if the brand of leadership/governance adopted in the running of Hwange Colliery meets required standards and has made it attractive to investors, as well as other stakeholders such as employees, clients and the government of Zimbabwe, which remains its major shareholder. The findings ultimately proved that the attempts by Hwange Colliery Limited to practise corporate governance have proved very inadequate – with far-reaching and painful consequences. These findings were followed by recommendations, which aimed at improving both the financial state of the Colliery, as well as its corporate governance scorecard.