CBZ shares spike… as Zembe, Nyazema take the helm

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CBZ Holdings (CBZ) was one of the major gainers on the Zimbabwe Stock Exchange this Wednesday after an announcement of changes to the board and management of the financial services giant.
The group’s stock was up by 5,3 percent, its biggest jump this week, as CBZ appointed Luxon Zembe as acting board chairman and Lawrence Nyazema as acting chief executive with effect from December 01, to replace retirees Marc Holtzman and Blessing Mudavanhu.
The changes come as the financial services group has recently acquired a third of the shareholding in First Mutual Holdings (FML) and is reported to be planning to take over ZB Holdings (ZB).