Ministry needs to get compliance right - Shiimi

Finance minister Ipumbu Shiimi has conceded that his ministry is not optimally geared in terms of corporate governance matters to help public enterprises achieve their strategic objectives.

Speaking at the Public Enterprises CEOs' Forum, Shiimi said there are still various compliance matters the ministry itself is besieged with to help public enterprises appoint the right people. “In terms of the hiring, in terms of starting with the boards, we also have a lot of homework to do because our house is not yet in order when it comes to ensuring compliance in appointing board members. We have a lot to do," he said.

According to Shiimi, it is critical that public enterprises are able to recruit the right people to help them achieve their strategic goals.

“It’s who you have, who is on the bus in terms of hiring, that is very critical. If you do not do that, you are not going to be able to deliver on your mandate,” he said of the need to have competent staff members within public enterprises.

Also speaking at the engagement, forum chairperson Fluksman Samuehl said good leadership is required to ensure public enterprises meet their objectives.

“Good leadership has proven that it is not so much about in what shape, form, nature we take over public enterprises as CEOs. What is key is your foresight, your ability to bring about positive change, working closely with your team and the support you will get from your board as you navigate difficult challenges.”