THE Dar es Salaam Stock Exchange PLC (DSE) has introduced a tailor-made, DSE Enterprise Acceleration Programme (DEAP), aimed at encouraging long-term investments in growth companies.
The tailor-made programme target Small and Medium Scales (SMEs) which have a turnover of at least 15bn/- and net assets of at least 1.0bn/-.
According to a press statement issued by DSE yesterday, interested SMEs should apply before the first Thursday of next month.
The programme, DSE said aiming at enhancing the capacity of SMEs, encourage long-term investments in growth companies.
The programme is also aimed at enabling SMEs to attract diverse sources of capital such as bank borrowing, private placements, crowd-funding and public offerings.
The objective of the programme is to enhance capacities, increase outreach, train SMEs to build understanding, interest and capacity of targeted SMEs owners or managers in order to manage their businesses sustainably and become attractive investors from diverse investors or financiers’ base.
The successful SMEs should have an exciting and ambitious business model anchored on clear growth strategy and commitment to implement useful changes for their further growth and development.
The SMEs should also have a clear intention to engage other participants during an 18-months thought-provoking journey of exploring and implementing sustainable growth-oriented business.
Companies, intended to join DEAP, the statement said, should consider raising capital from the public or by way of crowd-funding and subsequent listing into the DSE within three years since joining the programme.
The SMEs should be engaging from agribusiness, manufacturing, infrastructure, consumer goods and services, tourism, healthcare services, financials, real estates and advisory services, mining and ICT sectors. Companies’ owners or managers have to possess commitment to growth by adherence to principle of enterprises sustainability such as environmental, social and good corporate governance.
The companies should have at least “three years of growth and have strong future potential -- with annual turnover of at least 15bn/- and net assets of at least 1.0bn/- ,” DSE said.
The statement said, among others, the programme, “intends to inspire and influence business owners or managers across various industries to take actions on issues that facilitate their businesses prosperity.”
The statement said, “participants will be required to pay a token programme sustainability fee.” The programme is sponsored by Financial Sector Deeping Trust (FSDT) in partnership with University of Dar es Salaam, KPMG, Institute of Directors in Tanzania and NMB Bank.
DSE has two segment markets—main markets with stringent listing rules—and alternative platform— Enterprises Growth Market (EGM), with lenient regulations.