Vertex Fund surpasses target, lists on DSE

DAR ES SALAAM: THE Vertex International Securities Limited has successfully listed its Exchange Traded Fund (ETF) on the Dar es Salaam Stock Exchange (DSE), raising 6.85bn/-.

This impressive figure exceeds the initial target by 36 per cent, demonstrating the strong demand for the product. The Vertex-ETF allows investors to own shares in five prominent companies listed on the DSE, including CRDB Bank, NMB Bank, Afriprise, NICOL and DSE itself.

This innovative product provides a unique opportunity for investors to diversify their portfolios and potentially benefit from long-term growth.

Speaking at the listing ceremony yesterday in Dar es Salaam, Vertex CEO Mr Mateja Mgeta expressed gratitude to the Capital Markets and Securities Authority (CMSA) and the DSE for their support in facilitating the listing.

He emphasised the benefits of the ETF, including increased access to diverse investment opportunities and the potential for long-term growth.

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The CEO also highlighted the company’s commitment to delivering value to investors and contributing to the growth of the Tanzanian capital market.

The successful listing of the Vertex-ETF is a significant milestone for the Tanzanian capital market, showcasing its growing attractiveness to investors and potential for economic growth. With over 6,300 investors participating in the offer, this achievement demonstrates the increasing interest in innovative financial products in Tanzania.

Mr Mgeta noted that the Vertex-ETF listing is expected to boost investor confidence in the Tanzanian capital market and pave the way for further innovation and growth in the sector.

“As the company continues to expand its product offerings and services, it is well-positioned to capitalise on the growing demand for investment opportunities in Tanzania,” he said.

CMSA CEO, Mr Nicodemus Mkama praised Vertex International Securities Limited for the successful listing of the Vertex ETF, calling it a testament to the company’s commitment to national development. He stressed the importance of ensuring investors benefit from growth and urged Vertex to prioritize value creation for unit holders.

Mr Mkama also encouraged companies to leverage the capital market for funding development and called on licensed players to create innovative products that attract both local and international investors.

The Vertex ETF listing marks a significant milestone for Tanzania’s capital market, highlighting its growing appeal and economic potential. With over 6,300 investors participating, the achievement reflects rising interest in innovative financial products.