DSE (Dar Stock Exchange) goes commercial

Habdavi · 2011-05-23T10:19:06+00:00

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.

Thread starter Habdavi
Start date May 23, 2011

Habdavi

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DSE (Dar Stock Exchange) goes commercial

Habdavi

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