HOME-GROWN APPROACHES PANACEA TO GRC IMPLEMENTATION IN ZIMBABWE

GRC, short for governance, risk, and compliance has been a buzz across the globe and organisation in Zimbabwe, especially in the financial sector are now committed to GRC adoption. IBM stresses that GRC relates to “an organizational strategy for managing governance, risk management, and compliance with industry and government regulations. GRC’s set of practices and processes provides a structured approach to aligning IT with business objectives”.?Although developed and emerging economies have made significant strides in adoption and implementation of GRC Framework, developing countries like Zimbabwe lag behind. Although several suggestions have been made for the lag in GRC adoption, one factor that remains largely underexplored is the suitability of existing frameworks to the local conditions. This raises the question “Could home-grown solution be panacea to GRC adoption and implementation in Zimbabwe?”.?

In this series we explore why it is important for Zimbabwean companies to prioritise Zimbabwean grown approaches and solutions when considering governance, risk and compliance issues. The belief is that this will help these companies effectively manage IT and security risks, reduce costs, and meet compliance requirements. It will also help improve decision-making and performance through an integrated view of how well an organization manages its risks, given the uniqueness of the Zimbabwean context.