아프리카ㆍ중동

Before the enactment of the Public Entities Corporate Governance Act, there was no coordinated and consistent approach to setting the remuneration of non-executive directors (NED) of State Enterprises and Parastatals (SEPs) in Zimbabwe. This problem was further compounded by the decentralized ownership model for SEPs, with the respective line ministries exercising the role of owner. Setting board remuneration practices and processes that are transparent, competitive and set in a way that attracts, motivates, and retains qualified people is a challenge. SEP board remuneration practices differ from country to country, by size and complexity of the SEP, by listing status (listed or unlisted), commercial or non-commercial, and other variables. The roles and responsibilities of NEDs are fundamentally distinct from those of executive directors, so the way their remuneration is set differs significantly.