Securities and Exchange Commission CEO to step down

SECURITIES and Exchange Commission of Zimbabwe (SECZ)'s chief executive officer Mr Tafadzwa Chinamo is set to step down in January 2022, after 10 years at the helm of the capital markets regulator.

In a statement on Friday, the organisation said: "SECZ announces today that Tafadzwa Chinamo (52), will be stepping down in January 2022, after 10 years as chief executive officer. In the meantime, Tafadzwa will continue to lead SECZ and drive the commission's regulatory initiatives and operating plans."

SECZ is a statutory body, established in terms of Section 3 of the Securities and Exchange Act [Chapter 24:25], to regulate the capital markets. Mr Chinamo commented: "During the past decade, my role has provided a unique opportunity to position the securities trading sector for growth and development and the country for visibility in the foreign investment arena. We have tried to ensure that the trading environment continues to provide the opportunities for which the capital markets are known and their ability to attract, mobilise and deploy resources to the productive sector remains pivotal to economic development."

He said serving as chairman of the committee for Insurance and Non-Banking Authorities (CISNA), among other regional and international roles, helped profile Zimbabwe while he learned from peers the improvement of the institutions and processes.

Mr Chinamo said his retirement was well timed and he had the energy and experience to initiate something new.

"For now, l am committed to lead the commission as we deliver on our mandate to foster growth and investor protection in our capital markets," he said.

SECZ's functions are to regulate trading and dealing in securities, register, supervise and regulate securities exchanges and advise the Government of Zimbabwe on all matter relating to securities and capital markets, among others.