Investors have called upon the Securities and Exchange Commission of Zimbabwe (SECZ) to come up with strong monitoring mechanisms to protect the interests of the investing public. Reports suggest that some directors of listed companies do not disclose enough information for shareholders. This has an impact on decisions made by shareholders.
Rob Stangroom an investor relations expert said that it is mandatory for listed companies to regularly provide information that is timely, regular and more consistent. This is done for shareholders to make informed decisions.
Stangroom’s remarks were reverberated by Investment Professionals Association of Zimbabwe board member Ranga Makwata. He notes that the regulator to constantly monitor companies since the desire to make more money sometimes tempt these companies to neglect their duties.
ZSE chief executive Justin Bgoni expressed concern over some directors’ lack of appreciation of their duty to disclose information. Bgoni further urged shareholders to attend annual general meetings to get inside information.
Meanwhile, SECZ research and market development manager Grace Berejena revealed that the commission was working on protecting investors’ interests. Berejena said that SECZ had an input in the reintroduction of a review panel that scrutinises all published financial statements and reporting standards to be adhered by all listed companies and their auditors.
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