Comply with laws, capital markets players told

DODOMA: FINANCE Minister Ambassador Khamis Mussa Omar has directed all stakeholders in the capital and securities markets to strictly adhere to laws and regulations while strengthening digital service delivery.

Speaking on Tuesday during the 5th graduation ceremony for a six-week Securities Industry Certification Course and the Capital Market Universities and Higher Learning Institutions Challenge award ceremony, Ambasador Omar emphasised the need for continued public education on capital and securities markets to enhance awareness and participation.

“I urge the Capital Markets and Securities Authority (CMSA) and stakeholders to provide consistent education to the public to increase understanding and engagement in this sector,” he said.

He further instructed the CMSA to effectively fulfill its mandate of regulating, coordinating and developing the capital and securities markets in line with the objectives of the Tanzania Vision 2050.

Ambassador Omar said that greater awareness on capital markets is essential to encourage Tanzanians’ participation, noting that these markets play a crucial role in providing funding for both public and private companies.

This, in turn, allows citizens to actively participate in the economy and contributes to the achievement of Vision 2050 goals.

He added that, as with other sectors, the capital and securities markets require skilled professionals with adequate expertise to facilitate longterm capital mobilisation for the development of a modern economy.

He reported that, as of December last year, total investments in the capital markets reached 63.15tri/-.

Earlier, CMSA Board Chair Lucas Mwimo expressed gratitude to the government for creating an enabling environment that allows the authority to promote the capital markets sector.

Mr Mwimo highlighted CMSA’s efforts to provide training, develop innovative products and encourage both local and international market participation.

“The presence of skilled professionals has created a competitive capital market, improving access to funding for business and investment, thereby supporting economic growth,” he noted.

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CMSA Chief Executive Officer Nicodemus Mkama explained that graduates of the certification course meet international standards, enhancing the professionalism of market service providers.

“Ensuring quality education and capacity building for professionals aligns with the implementation of Vision 2050, aiming to develop highly skilled experts,” he said.

The CMSA also organised the Capital Market Universities Challenge, which engaged students nationwide through mobile-based quizzes. A total of 28,383 students participated, exceeding the target by over 140 per cent.

The top five performers were awarded cash prizes ranging from 700,000/- to 3m/-, and will receive further training in Nigeria, including visits to major capital market firms.

To increase the number of internationally qualified professionals, CMSA collaborates with the Chartered Institute for Securities & Investment (CISI).

On his part, Bank of Tanzania Deputy Governor Yamungu Kayandabila stressed the importance of financial inclusion and literacy.

“Digital platforms have transformed the financial system, enabling online financial education. Closing the digital financial gap between rural and urban areas is central to our monetary policy and national financial innovation framework,” he said.