| Abstrakt: |
Zimbabwe has been actively investing in its public infrastructure over the past decade, undertaking projects like rehabilitating major roads, expanding airports, and increasing power generation capacity. However, financial constraints have led to delays in completing these projects, highlighting a significant funding gap for infrastructure development. To address this, Zimbabwe requires annual investments of approximately US$2 billion until 2032, with the public sector currently contributing around 20% annually. This study aimed to evaluate the current state and role of public sector accounting in attracting private sector investment to bridge this funding gap. Employing an inductive qualitative approach, the study gathered data through interviews and document analysis. Fifteen interviews were conducted, achieving data saturation, and documents analysed included financial reports, public investment management guidelines, and the Public Finance Management Act (Chapter 22:19). The findings revealed that Zimbabwe's public sector accounting landscape is undergoing reform, including the mandatory adoption of International Public Sector Accounting Standards (IPSAS) through Statutory Instrument 41 of 2019. This move is anticipated to strengthen public sector accounting, disclosures, and accountability, thereby bolstering private sector confidence and encouraging investment in public-private partnerships for infrastructure development. The authors recommend prioritizing skills development to ensure a smooth and efficient transition to IPSAS. [ABSTRACT FROM AUTHOR] |
