The Institute of Chartered Secretaries and Administrators in Zimbabwe (ICSAZ) has expressed confidence the passing into law of the public sector corporate governance bill will ensure public entities increase their contribution to the economy and maximise the shareholder value.

State-owned-entities which of late have become a burden to Treasury should be reinvigorated with adoption of relevant regulatory framework which supports business growth and sound corporate governance is the message from members of ICSAZ.

ICSAZ president Dr Paradza Paradza said the institute is confident the passing into law of the public sector corporate governance bill will improve the public entities contribution to the broader economy.

International Institute of Chartered Secretaries and Administrators, Mr David Venus challenged the chartered secretaries to be champions of ethical leadership of organisations.

While unsustainable import bill, subdued capacity utilisation and huge debt overhang have been some of the challenges facing the economy, lack of discipline and corporate governance deficiency within the private and public sectors have been some of the biggest threat to recovery of the domestic economy according to the chartered secretaries and administrators.