|Title:||Technical Assistance for Strengthening Good Corporate Governance and Compliance at ZESCO|
|Dates: ||March, 2015 - November, 2015|
The overall objective of the project is to support ZESCO in strengthening good corporate governance and compliance within the company, in order to enhance efficiencies, provide greater transparency and accountability, eradicate corruption, ensure sound decision-making, improve the quality of service, improve financial, technical, and engineering performance and help ensure that decisions are based on sound business principles.
Corporate Solutions is helping create a basic, functioning program that includes high-level governance policies, internal controls for targeted day-to-day operations, compliance mechanisms to promote adherence to the rules, and training of personnel to equip them to train others. This infrastructure will position the company to further build governance, controls, and compliance mechanisms on an ongoing basis to address additional needs and shift operations and risk profiles.
- Developing and implementing a corporate governance framework with rules and policies that outline the roles and responsibilities of the Board of Directors and Management
Finalizing the Board Charter, training the Board on the Charter and developing a Board committee system
Training Management on the nature of its governance roles and responsibilities
Developing a whistle-blowing policy
Developing and implementing internal controls that govern day-to-day operations in the three priority areas of procurement, contract management, and customer service
Designing transparent rules that improve accountability of employees against specific standards and establishing an employee training program
Identifying and implementing computer-based management systems to facilitate implementation of internal controls
Equipping appointed personnel with the knowledge to further develop and refine rules and procedures in other business units
Developing and implementing a compliance framework that helps ensure personnel's adherence to governance rules and internal controls policies. This includes training, guidance, monitoring, and reporting mechanisms, potentially a Board Compliance Committee and the designation of a Chief Compliance Officer, and the creation of an ongoing compliance training program.