New ZSE board announced

Finance Minister Patrick Chinamasa yesterday announced a new board of directors for the Zimbabwe Stock Exchange (ZSE). The new board comes into place following the demutualisation of the ZSE which transformed the bourse into a public listed company.

Government and stockbrokers own the company under a 32-68 percent shareholding structure.

Minister Chinamasa said the new board would be headed by Ms Caroline Sandura while other members include chief executive officer of the ZSE Alban Chirume who is an ex-officio member.

Other members include Mr Bartholomew Mswaka, Mr Benson Gasura, Mr Markus De Klerk, Mr Daniel Muchemwa and Mr Xolisani Moyo.

Minister Chinamasa said he expected the new board to, among other things, assist the Government identify, if need be, a strategic partner to buy a portion of its 32 percent shareholding and to also finalise the demutualisation exercise.

“I have not yet received share certificates of Government’s shareholding in the new company, I expect that the board will process that and give us the new share certificates,” he said.

Minister Chinamasa also invited pension funds and local financial institutions to capitalise the ZSE.

The ZSE was established in 1946 as the Rhodesia Stock Exchange and rechristened after attainment of independence in 1980. It had remained a mutual society run by stock brokers. — New Ziana.

Pin It