Story by Lawrence Trusida
THE Zimbabwe Broadcasting Corporation (ZBC) is complying with statutory requirements after presenting its audited financial statements for the past seven years during an Extraordinary General Meeting held in Harare this Thursday.
The financial statements show that the national broadcaster is on a steady recovery path, with improved revenue streams and tighter financial controls.
The presentation, covering the 2017 to 2023 financial period, paves way for the corporation’s long-awaited Annual General Meeting, which will be held later this year.
“We are now adhering to corporate governance. ZBC as a corporate is committed to fulfilling all statutory requirements, and this inspires confidence among our stakeholders and shareholders,” ZBC Chief Executive Officer, Mr Sugar Chagonda said.
ZBC Board Chairperson Ms Helliate Rushwaya said the presentation of the financials is a sign of renewed accountability and transparency within the organisation.
“We are happy with this step. It shows that management is committed to accountability and it sends a positive message to our stakeholders.”
ZBC management says the corporation’s financial position is improving, with projections showing increased content production and higher advertising revenues.
“We are healthy at the moment, and with the strategies we are implementing, we will become stronger. Better content means more advertisers and, ultimately, more revenue,” ZBC Finance Director Mr James Chiwera noted.
The Deputy Minister of Information, Publicity and Broadcasting Services, Honourable Omphile Marupi, who was representing the Minister Dr. Jenfan Muswere, commended ZBC for embracing good corporate governance.
“The presentation of financial statements shows progress in compliance with good corporate governance. This transparency gives confidence to stakeholders and allows them to make informed decisions about ZBC’s trajectory. We commend you for this positive step.”
The national broadcaster is expected to hold its Annual General Meeting next month, where it is expected to unveil new growth strategies aimed at strengthening its financial sustainability.
