The Sunday News
Judith Phiri, Business Reporter
INTEGRATED Properties Chief Executive Officer, Dr Mike Juru has been appointed chairman of the thirteen-member interim board of the Real Estate Investment Trusts (REITs) Association of Zimbabwe.
He will be deputized by the Zimbabwe Association of Pension Funds (ZAPF) director general, Mrs Sandra Musevenzo.
Announcing the appointment of the board at the just ended Real Estate Investment Trusts Conference in Bulawayo on Thursday, Zimbabwe Stock Exchange (ZSE) CEO, Mr Justin Bgoni said ZSE together with other capital market participants have come together to establish a REITs Association following the growth of interest in this security.
Among the main objectives, the REITs is going to promote the growth of the REIT market, to educate investors as well as to advocate for the interests of REITs with regulators and policymakers.
“The interim board is comprised of experienced and knowledgeable individuals who are committed to the growth of the real estate industry,” said Mr Bgoni.
Terrace Africa Group’s legal manager, Miss Christabel Shava will be the board secretary.
The board members include Fidelity Life Asset Management managing director Mr Bevin Ngara, Bard Santner Investors (Private) Limited executive director Mr Alfred Mthimkhulu and National Railways of Zimbabwe (NRZ) Contributory Pension Fund deputy principal officer, Mrs Chipo Hlabangana. Other are National Building Society Structured and Corporate Finance head, Mr Isaac Isaki, Enerst and Young senior manager Mr Farai Chizengeni, NRZ Contributory Pension Fund principal officer Mrs Patience Dhliwayo and Mr Hamandishe Nhiwatiwa from Association of Investment Managers.
Intellego Investment Consultants managing consultant Mr Welcome Mavingire, CBZ Asset Management managing director Mr Tendai Muzadzi and Mushoriwa Pasi partner Miss Beatrice Moyo are also part of the board members.
“The ZSE is confident that the establishment of the REITs Association will go a long way in promoting REITs in Zimbabwe. The ZSE remains grateful for the continuous support from various market participants in the establishment of the Association and wishes the interim board a successful tenure,” said Mr Bgoni.
