'More scrutiny for listed companies needed,' says SECZ

'More scrutiny for listed companies needed,' says SECZ
Published: 09 October 2013
THE Securities Commission of Zimbabwe says there is need for increased shareholder scrutiny of companies' activities to make directors accountable and protect shareholder interests.

Secz has also raised concern over domineering majority shareholders and trampling of rights of minorities in disregard of good corporate governance tenets resulting in loss of value.

Addressing an Institute for Sustainability Africa conference in Harare recently Secz chairperson Mrs Willia Bonyongwe said that investors needed to know and exercise their rights. She said noted existence of forceful shareholder activist who are quite controversial and maybe disruptive.

Nonetheless, she emphasized the importance of serious shareholder scrutiny.

"It promotes good corporate governance adherence and brings accountability to shareholders. As such, corporates need to pay closer attention to the rights of their shareholders," she said.

The Secz boss said it was shareholders right to have sufficient information to be at the same time, to have information disclosed as soon as it is known, treated equally equitable and claim what is due in the form of dividends or scrip certificates when declared or falls due.
- herald
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