Habdavi
JF-Expert Member
- Mar 5, 2011
- 724
- 621
BY SYLVESTER JOSEPH
DAR ES SALAAM Stock Exchange
(DSE) will soon move from a
company limited by guarantee to
a company limited by shares, it
has been disclosed.
The revelation was made by DSE
Chief Executive Gabriel Kitua at
the closure of one day seminar
to journalist in Dar es Salaam
yesterday.
Kitua said the transition process
would be included in their five
years strategic plan, which was
formulated technically by a
consulting firm yet to be
identified.
If we adopt the package, the
market structure, or the
institutional arrangement will
change from company limited by
guarantee to company limited by
shares, where part of the
government investment will be
left as its shares and part of the
shares will be vented to
investors who will participate in
deciding the formation of the
board.
If you look at the international
media, you will not see
information from DSE because
they have not put in a reliable
network which most of
journalists trust and use. We
have now started connecting to
these companies and we are
sure that DSE information will be
available through these channels.
We are sure that from now on,
our indices will be published
internationally, he said.
The CEO said DSE had arranged
their systems to be linked to
local banks payment systems
which would make payments
faster. On the cross border
transaction, DSE is talking to its
partners in involved countries to
see how transaction days can be
shorten and at the end of the
day make the trading smoother.
Many things are in pipeline and
Tanzanians and all investors
need to know that the market is
ready and waiting for them. We
are going to push for new
listings. Precision Air has reached
final stages and as soon as they
complete the last steps, they will
be listed in the DSE, Kitua said.
He mentioned that Tanzania
stands a risk of losing direct
benefits on the investment in
stock markets due to the large
number of foreign investment in
the market surpassing the local
investment by more than 50 per
cent.
Source The African.
DAR ES SALAAM Stock Exchange
(DSE) will soon move from a
company limited by guarantee to
a company limited by shares, it
has been disclosed.
The revelation was made by DSE
Chief Executive Gabriel Kitua at
the closure of one day seminar
to journalist in Dar es Salaam
yesterday.
Kitua said the transition process
would be included in their five
years strategic plan, which was
formulated technically by a
consulting firm yet to be
identified.
If we adopt the package, the
market structure, or the
institutional arrangement will
change from company limited by
guarantee to company limited by
shares, where part of the
government investment will be
left as its shares and part of the
shares will be vented to
investors who will participate in
deciding the formation of the
board.
If you look at the international
media, you will not see
information from DSE because
they have not put in a reliable
network which most of
journalists trust and use. We
have now started connecting to
these companies and we are
sure that DSE information will be
available through these channels.
We are sure that from now on,
our indices will be published
internationally, he said.
The CEO said DSE had arranged
their systems to be linked to
local banks payment systems
which would make payments
faster. On the cross border
transaction, DSE is talking to its
partners in involved countries to
see how transaction days can be
shorten and at the end of the
day make the trading smoother.
Many things are in pipeline and
Tanzanians and all investors
need to know that the market is
ready and waiting for them. We
are going to push for new
listings. Precision Air has reached
final stages and as soon as they
complete the last steps, they will
be listed in the DSE, Kitua said.
He mentioned that Tanzania
stands a risk of losing direct
benefits on the investment in
stock markets due to the large
number of foreign investment in
the market surpassing the local
investment by more than 50 per
cent.
Source The African.
