Dar es Salaam Stock Exchange.The
Dar es Salaam Stock Exchange is a stock exchange located in Dar es
Salaam, the largest city in Tanzania. It was incorporated in September
1996 and trading started in April 1998; it is a member of the African
Stock Exchanges Association.
Founded: June 199
BY REUTERS
Dar es Salam; Tanzania: Tanzania expects mobile phone operators to list on its stock exchange next year under mandatory rules aimed at enabling its citizens to take a stake in one of Africa’s fastest growing industries. Like other African countries, mobile phone use has rocketed in Tanzania over the past decade, with telecoms the fastest expanding sector in East Africa’s second biggest economy. January Makamba, deputy communication, science and technology minister said the government was in the final stages of getting telecoms companies listed on the Dar es Salaam Stock Exchange (DSE). “Listing is expected early next year,” Makamba told Reuters. The Government, which still has a relatively tight control over the economy, passed two separate telecoms and mining laws in 2010 requiring the companies to list on the stock exchange as it sought to boost the nascent bourse’s value and improve corporate governance and transparency.
The law required existing telecoms companies to list on its stock exchange by 2013, but officials said implementation of the legislation was delayed by legal and regulatory procedures. Mobile phone operators in Tanzania include market leader Vodacom Tanzania, a unit of South Africa’s Vodacom ; Bharti Airtel ; Tigo Tanzania, part of Sweden’s Millicom ; and Zantel, a unit of Etisalat . Major telecoms companies operating in the country said they were in talks with the government over the mandatory listing requirements, declining further comment. “We are participating in the consultation process on the draft regulations being conducted by the Ministry of Communications. At this stage, we cannot comment further,” Vodacom Tanzania’s Managing Director, Rene Meza, told Reuters.
Read more at: http://www.standardmedia.co.ke/business/article/2000138837/tanzania-eyes-telecoms-listings-in-early-2015
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