Published: 03 September 2013

Securities Commission of Zimbabwe chairperson Willia Bonyongwe yesterday said modalities to protect the interests of minority shareholders were underway to ensure fairness.

Speaking at a Press conference in Harare, Bonyongwe said this followed the realisation that decisions of majority shareholders always prevailed at the expense of minority shareholders.

Bonyongwe also disclosed that the commission had raised $5.5 million for the Investor Protection Fund to assist investors in case of uncertainties.

She said the commission was working with other stakeholders such as the ZSE, Public Accountants Auditors Board and others to address the issues of corporate governance.

Bonyongwe said the new listing requirements that would be gazetted later this year would be supported by a statutory instrument that will address independence of the board and company disclosures.
- newsday