Zimbabwe has recorded significant progress in strengthening public sector financial accountability, with the submission rate for government financial statements rising to 91% in 2025 from 66% the previous year as authorities accelerate implementation of international accounting standards across public institutions.
According to the Ministry of Finance, Economic Development and Investment Promotion, the improvement reflects growing compliance among government institutions under the country's ongoing Public Financial Management Reform Agenda.
“Government Ministries, Departments and Agencies are recording significant progress in the implementation of the International Public Sector Accounting Standards, a key pillar of Zimbabwe’s Public Financial Management Reform Agenda launched in 2018,” the ministry said.
The ministry reported that the submission rate for financial statements by reporting entities increased substantially during the latest reporting cycle.
“ZimTreasury has recorded a commendable improvement in the submission of Financial Statements, with the 2025 submission rate rising to 91 percent from 66 percent recorded in the prior year.”
“The milestone reflects the growing commitment by the 280 reporting entities towards enhanced compliance, transparency, and accountability in public sector financial reporting.”
The review of the 2025 financial statements is expected to focus not only on compliance levels but also on addressing weaknesses identified in previous reporting periods.
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Officially opening the review session on behalf of the Accountant General, Deputy Accountant General responsible for Aid Accounting, Funds and Parastatals, Mr Shumbaimwe, urged reviewers “to assess the extent to which entities have addressed prior-year findings and identify outstanding compliance gaps requiring corrective action before final consolidation.”
Authorities say improvements in the quality of public financial reporting are helping Zimbabwe align its systems with international best practices.
“The improved quality, clarity, and completeness of the 2025 Financial Statements continue to strengthen Zimbabwe’s path towards full IPSAS compliance and internationally aligned public financial management systems.”
IPSAS implementation has been a central component of Zimbabwe’s public finance reform programme since 2018, with government seeking to improve transparency, strengthen accountability and enhance the credibility of financial reporting across ministries, departments, agencies and state entities.
The standards are internationally recognised frameworks designed to improve the consistency, reliability and comparability of public sector financial information, making it easier for governments, investors, development partners and citizens to assess the management of public resources.
Zimbabwe’s reform efforts come amid broader initiatives aimed at modernising public finance management systems, improving fiscal governance and strengthening confidence among investors and development partners.
“Zimbabwe remains committed to a transformative agenda aimed at building modern, credible, and transparent public financial management systems,” the ministry said.
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