An Assessment of Corporate Governance Practices of SOEs in Zimbabwe's ICT Sector

This research inductively accessed corporate governance behavioural practices of SOEs in the Zimbabwe's ICT sector. SOEs in Zimbabwe face the accusations of poor corporate governance practices. Some are debt-ridden and trail behind their competitors in the private sector. The research was inherently qualitative and used thematic analysis. Expert views were sought on corporate governance. This necessitated judgmental sampling. Face-to-face interviews were drawn with sitting directors, the former directors, the Chief Executive Officers, the POTRAZ Director-General and the Permanent Secretary in the Ministry of ICT, Postal and Courier services. Questionnaires were also drawn on the executive management. The research revealed that Machiavellian practices exist, in breach of the agency theory. Ill practices facing the SOEs in the ICT sector include high board turnover, ineffective boards, inappropriate board mix, poorly qualified directors and political appointments. The Public Entities and Corporate Governance Act [Chapter 10.31] (2018) needs to be revisited. It has deficits and must apply to all government entities and departments. The research charges that good corporate governance leads to sustainable SOEs. As such, there is a need to strengthen institutional and regulatory structures to foster good behavioural practices.