DAR ES SALAAM: THE Office of the Treasury Registrar has announced that, starting from the next financial year, more public companies will be listed on the Dar es Salaam Stock Exchange (DSE).
The move aims to allow more Tanzanians to have ownership of public institutions while reducing the government’s financial burden of providing capital to these entities.
According to the Treasury Registrar Mr Nehemiah Mchechu, internal government processes have been completed and the final step involves an evaluation by a consultant.
“From the next financial year, several institutions will join the stock market, enabling many Tanzanians to own shares in the entities.
We have already completed our internal report and we have engaged a consultant to conduct an evaluation to determine which institutions will be ready for listing, how long the process will take and how best to facilitate their entry,” Mr Mchechu said.
He was speaking in Dar es Salaam on Friday during the launching of a partnership between Tanzania Commercial Bank (TCB) and DSE.
The government currently owns 98 per cent of TCB Bank, and Mr Mchechu expressed his desire to see the bank participate in various financial products.
He also urged the Capital Markets and Securities Authority (CMSA) to continue educating Tanzanians on the importance of the stock market.
“The stock market benefits us in many ways. First, it expands investment opportunities. Not everyone needs to open a shop or build rental houses, investing in shares allows people to become part-owners of major projects,” he explained.
ALSO READ: Treasury Registrar’s Corner: How public entities can flourish globally
On his part, Chief Executive Officer of CMSA, Mr Nicodemus Mkama, highlighted the significance of the partnership between DSE and TCB in increasing public participation in capital markets and strengthening the country’s financial
sector.
