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from Mr Martin Matanda, who has been acting since the departure of Mr Emmanuel Munyukwi last year.
His appointment takes effect from July 1 this year, ZSE chairperson Mrs Eve Gadzikwa told journalists in Harare yesterday.

“He comes with a lot of experience and on behalf of the board, I would like to thank him for accepting the appointment,” she said.

Mr Chirume left SECZ in early 2011. Meanwhile, the ZSE industrial index rebounded yesterday, lifted by gains in Econet Wireless. After trades, the industrials gained 0,39 percent to 0,82 points to 212,77 points, taking its gains this year so far to 39,61 percent. The mining index was unchanged.

Daily market turnover fell to US$899 724 on a volume of 14,29 million shares from US$1,490 million a day earlier.

Econet gained US2,60c to US72,6c while financial group ABC Holdings added US0,10c to US60,1c. The group’s majority shareholder, Africa Development Corporation, said it intended to make a mandatory offer to buy out all minority shareholders for BWP 5,05 per share registered on the Botswana Stock Exchange, or US60c per share for shares on the ZSE.

British American Tobacco gained US2c to US827c after managing director Mr Lovemore Manatsa told an annual general meeting on Tuesday that

volumes were down 15 percent in the year to date, following the introduction of new excise tax in December 2012.

But he said revenue and profitability remained robust as the price increase enacted with the excise hike had compensated for the fall in volumes. Masimba led the risers, adding another US0,50c to US9c taking its gains in the year to 200 percent.

Masimba’s price has been running in the past month but volumes trading have not been meaningful.
Afre added US0,44c to US12,5c ahead of its AGM next week where shareholders will, among other resolutions, vote on the proposed change of name to First Mutual Holdings Limited, a move the company says will boost its visibility on the market.