NYASHA KUNYISWA
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.
Chinamo joined SECZ as CEO in 2011.
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 terms of five years, renewable once only, to make it 10 years.
Chinamo confirmed the development.
“It’s true, my term comes to end this month,” Chinamo told Business Times on Thursday.
“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.”
Chinamo, however, refused to reveal the identity of the new SECZ CEO.
“The announcement will be published very soon on the new CEO taking over from me since the process is near complete,” he said.
Over the past 10 years, Chinamo said SECZ implemented several initiatives including the automation of the capital markets.
He said: “We have confidence now in the market since it now attracts more investors.
“Capital markets work best when everyone participates in the market. We made sure that the market was open to everyone.”
