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DSE (Dar Stock Exchange) goes commercial

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by Habdavi, May 23, 2011.

  1. Habdavi

    Habdavi JF-Expert Member

    May 23, 2011
    Joined: Mar 5, 2011
    Messages: 393
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    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
    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
    “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
    “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
    Source The African.