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Tanzania: DSE Among Top Three Bourses in Africa

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by M-pesa, Sep 14, 2011.

  1. M-pesa

    M-pesa JF-Expert Member

    Sep 14, 2011
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    Sebastian Mrindoko
    8 September 2011
    [HR][/HR]THE Dar es Salaam Stock Exchange (DSE) emerged among three top performing bourses in Africa, last month, despite soaring inflation rates and weakening of the shilling.
    Apart from emerging first in East Africa, the Dar es Salaam bourse managed to beat the Nairobi Stock Exchange (NSE) by far as well as the Nigeria All Share Index and Egypt – EGX 30 index which dropped by 7.7 and 6.9 per cents respectively.
    According to the Morgan Stanley Capital International (MSCI) Index that measures a different aspect of global stock market, the Tanzania-All Share Index improved by 0.4 per cent among the ranked African bourses.
    At the top, the Namibia stock exchange recorded upper-most returns as the local index rose 5.8 per cent followed by Tunis index that went up by 1.3 per cent.
    Having a total of 200,000 local investors owning stakes in different listed companies, the DSE early this year emerged the best Sustainable Stock Exchange in Africa, an award granted by the London-based World Finance, a leading financial magazine.
    The Chief Executive Officer of Zan Securities, Mr Raphael Masumbuko, said the outstanding performance was a positive sign that the road was clear for both local and foreign investors to exploit the market potential.
    “Despite being small, it is encouraging that our units and capital appreciation are good compared to the neighbouring countries,” he said.
    Mr Masumbuko said the market performance posed a challenge not only to the listed companies to increase efficiencies but also an incentive to others searching for best returning investments opportunities.
    Speaking in a telephone interview from South Africa, The DSE Chief Executive Officer, Mr Gabriel Kitua, said the growing local investors’ awareness on the benefits which could be accrued by investing in the market was among the factors for the bourse’s outstanding performance in Africa.

    “The performance of the listed local companies are encouraging and demonstrate peer confidence on the market and the country’s economy to generate investment opportunities in the form of equity,” he said, adding that, “our index is expected to grow at 7 per cent in the second part of the year.”
    In the month under correspondence, the total market capitalization of Dar’s bourse at August 30, jumped to 5,977.19bn/- from 5,933.41bn/- recorded at July 31 this year, indicating the investors gain 43.78bn/-.
    While their counterparts at the NSE lost an estimated 100bn/- Kenyan shilling (1.7tr/- Tanzania shilling) in August.

    source:Tanzania: DSE Among Top Three Bourses in Africa | Thenigeriandaily.com
  2. M

    Mdondoaji JF-Expert Member

    Sep 14, 2011
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    Safi I am waiting for mining firms and phone companies to be listed so that I can begin to participate in buying and selling shares and expand my portfolio . Tanzania capital market is expanding fast I hope Tanzanians will be able explore such opportunities.