Is Nominee shareholding legal in Zimbabwe?

Nominee shareholding is an increasingly common phenomenon within the corporate sector in Zimbabwe. In light thereof it is prudent to note the important developments introduced under the Companies and Other Business Entities Act [Chapter 24:31] (hereinafter “COBE”). The old Companies Act did not address the issue in any detail, however COBE rather comprehensively regulates same.

Shareholders role in Corporate Governance under the Companies and Other Business Entities Act [Chapter 24:31] in Zimbabwe

[i] Author – Beatrice Moyo Corporate governance is the practice by which companies are managed and controlled to ensure responsible behaviour of the company, and to achieve maximum level of efficiency and profitability. Corporate governance seeks to, amongst other things, balance the interests of internal and external stakeholders, one of the material stakeholders, being the