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<p><span style="font-family: 'times new roman', times, serif; font-size: 14pt;">The Securities and Exchange Commission of Zimbabwe (SECZ) CEO, Tafadzwa Chinamo, will leave the country’s capital market regulator at the end of this month after 10 years in the role.</span></p>
<p><span style="font-family: 'times new roman', times, serif; font-size: 14pt;">Chinamo joined SECZ as CEO in 2011.</span></p>
<p><span style="font-family: 'times new roman', times, serif; font-size: 14pt;">His departure is in line with the new Public Entities Corporate Governance Act (Part 1V), which states that CEOs of public entities should serve for a maximum term of five years, renewable once only, to make it 10 years.</span></p>
<p><span style="font-family: 'times new roman', times, serif; font-size: 14pt;">Chinamo confirmed the development. He Chinamo told Business Times on Thursday:</span></p>
<blockquote>
<p><span style="font-family: 'comic sans ms', sans-serif; font-size: 12pt;">It’s true, my term comes to end this month.</span></p>
<p><span style="font-family: 'comic sans ms', sans-serif; font-size: 12pt;">I joined SECZ in August 2011  and my departure is in line with the new Public Entities Corporate Governance Act. I only performed the CEO’s duties in the last six months waiting for the conclusion of the process to select the new CEO of SECZ.</span></p>
</blockquote>
<p><span style="font-family: 'times new roman', times, serif; font-size: 14pt;">Chinamo, however, refused to reveal the identity of the new SECZ CEO. He said:</span></p>
<blockquote>
<p><span style="font-family: 'times new roman', times, serif; font-size: 14pt;">The announcement will be published very soon on the new CEO taking over from me since the process is near complete.</span></p>
</blockquote>
<p><span style="font-family: 'times new roman', times, serif; font-size: 14pt;">Over the past 10 years, Chinamo said SECZ implemented several initiatives including the automation of the capital markets.</span></p>
<p><span style="font-family: times new roman, times, serif;"><span style="font-size: 18.6667px;">More: <a href="https://businesstimes.co.zw/secz-ceo-tafadzwa-chinamo-steps-down/">Business Times</a></span></span></p>


Pindula News

Chinamo Steps Down As CEO Of Securities And Exchange Commission of Zimbabwe

<p>Investors have called upon the Securities and Exchange Commission of Zimbabwe (SECZ) to come up with strong monitoring mechanisms to protect the interests of the investing public. Reports suggest that some directors of listed companies do not disclose enough information for shareholders. This has an impact on decisions made by shareholders.</p>
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<p>Rob Stangroom an investor relations expert said that it is mandatory for listed companies to regularly provide information that is timely, regular and more consistent. This is done for shareholders to make informed decisions.</p>
<p>Stangroom’s remarks were reverberated by Investment Professionals Association of Zimbabwe board member Ranga Makwata. He notes that the regulator to constantly monitor companies since the desire to make more money sometimes tempt these companies to neglect their duties.</p>
<p>ZSE chief executive Justin Bgoni expressed concern over some directors’ lack of appreciation of their duty to disclose information. Bgoni further urged shareholders to attend annual general meetings to get inside information.</p>
<p>Meanwhile, SECZ research and market development manager Grace Berejena revealed that the commission was working on protecting investors’ interests. Berejena said that  SECZ had an input in the reintroduction of a review panel that scrutinises all published financial statements and reporting standards to be adhered by all listed companies and their auditors.</p>
<p><strong>More: <a href="https://www.newsday.co.zw/2019/05/investors-call-for-more-protection/" rel="noopener noreferrer" target="_blank">News Day </a></strong></p>


Investors Yearn For More Protection