• Mon. Jul 22nd, 2024

NMB shares rose 3.71% after appointing Pearson Gowero as chair


Nov 18, 2023

By ETimes

NMB share price surged over 3% on Friday’s session following the appointment of Pearson Gowero, a seasoned business leader, as chairman of the bank.

He is taking over from Benedict Chikwanha, who retires from the NMB Board effective from 31 December 2023 after 10 years of service, of which 9 of which he served as board chairman.

Gowero is the past Africa country managing director for SAB Miller Zambia and Malawi, chief executive officer for Delta Corporation, the current director of Zambeef Products PLC and the chairman of SeedCo Ltd.

The shares of the bank appreciated by 3.71% to close at $425.25.

NMBZ Holdings Limited is currently the 24th most valuable stock on the Zimbabwe Stock Exchange, with a market capitalization of $175 billion, which is about 1.21% of the ZSE equity market.

Meanwhile, equities rose for a third day on Friday, as the fact that companies listed on the ZSE can report in US dollars as the country is currently in a multi-currency environment continues to incite some optimism.

The ZSE All Share Index appreciated by 1.83% to close at 177,395.02 points in select heavyweights as activity improved. Similarly, market capitalisation rose by $274.89 billion to $14,3 trillion.

The Top 10 Index gained the most, up 2.34% to close at 77,093.46 points on CBZ which appreciated by 9.83% to close at $2,174.80.

As measured by market breadth, market sentiment was positive, as 6 stocks lost relative to 17 gainers.

The Medium Cap went up 0.81% to close at 748,580.34 points.

As usual, the Small Cap Index was flat at 5,343,533.69 points.

A total of 16.63 million shares valued at $6.77 billion were exchanged in 357 trades. Market turnover increased by 246.33% to $6.77 billion.

Transactions in the shares of OK Zimbabwe topped the activity chart, with 13.83 million shares valued at $2.62 billion.

Morgan & Co Multisector ETF added $20.0000 to $360.0000, Old Mutual Top 10 ETF was $0.0464 lower at $32.0136. Datvest Modified Consumer Staples ETF, Morgan & Co Made In Zimbabwe and Cass Saddle Agriculture ETF remained flat at $8.0000, $7.2000 and $7.5000 respectively.

 Tigere REIT shed $4.4895 to $250.5105.

VFEX listed stock Caledonia Mining Corporation also announced that Dana Roets will step down from his role as chief operating officer with effect from February 29, 2024.

Roets will however remain a director of the company and various subsidiaries until February 29, whereupon he will also step down from those roles, according to the company.

Caledonia share price was flat at US$16.2000.

Axia added 20.07% to end at US$0.0670. Innscor Africa Limited jumped 0.13% to close at US$0.4500. SeedCo Limited was 0.57% higher at US$0.1760. Simbisa was up by a marginal 0.02% to finish at US$0.3508.

African Sun lost 1.46% to US$0.0470 despite being debt free. For the quarter ended 30 September 2023, a 9% improvement in African Sun’s average daily room rate to US$117 saw its revenue up 12% to US$14.6 million. Occupancy levels were flat at 53%.

First Capital Bank eased 0.49% to end at US$0.0200. Padenga plunged 12.02% to close at US$0.1500-HARARE

By ETimes

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