Cabinet approves amendments to Insurance Bill

By Abigirl Tembo
Government has approved amendments to the Insurance Bill as part of efforts to promote the growth and development of the insurance sector.

Minister of Information, Publicity and Broadcasting Services Senator Monica Mutsvangwa presenting the post cabinet media briefing in Harare this Tuesday, said the Insurance Bill seeks to repeal the Insurance Act and introduce best practices in Zimbabwe’s insurance sector.

“Through the proposed amendments, government intends to strengthen the institutional capacity of IPEC and the regulatory framework to create a robust and internationally respected insurance and pension industry.”

Cabinet also approved the Principles for the Amendment of the Chartered Secretaries Act.

“The aim is to promote information and education on accountancy and auditing matters by all appropriate means and to help the institute acquire any rights or privileges which the institute may regard as necessary or convenient for its purpose in life.”
The Food Deficit Mitigation Programme was also approved.

Cabinet also discussed the unwarranted price hikes of goods and services by unscrupulous business people saying culprits will be brought to book.

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