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Old January 8th, 2012, 06:30 PM   #1
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Soko La Hisa La Dar es Salaam |Dar es Salaam Stock Exchange



Tutagusia maendedelea na habrari zinazohusisha soko la hisa hapa. Tupe habari zinazohusisha soko la hisa ikiwezekana.

Post news and any development about stocks here.
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Old January 9th, 2012, 11:26 AM   #2
Geza Ulole
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6th January 12
Call for law for firms to list on DSE
Felix Andrew

The government has been urged to enact a law which would push profit making companies into listing on the Dar es Salaam Stock Exchange (DSE) to make the bourse more vibrant.

A stakeholder identified as Seti Chale, told The Guardian that there are many firms which are performing well but were not listed on the bourse.

“We have a good number of profit making privatised firms which are not listed on the bourse for no apparent reasons,” he said.

He said many developed countries are using their bourse for development activities.

According to him time has come for the firms to raise capital through the bourse for the nation’s development.

Another stakeholder identified as Santulo Sanga, urged the DSE to provide more information and educate Tanzanians on the benefits of investing in the stock market.

"Trading at the DSE only benefits a few people, especially those residing in Dar es Salaam. People from the rest of the country seem completely unaware of the importance of participating in the bourse," he noted.

Direct benefits in investing in the stock market include earning dividends, selling and buying stocks and using shares as collateral to access bank loans.

"This is a long-term investment that shareholders should focus on for their own economic benefits," he said.

One of the objectives of establishing the DSE was to facilitate the privatisation process of over 300 firms.

But, the reality on the ground shows that only seven privatised firms have been listed on the bourse.

The plan was for the public to own the firms through public listing on the DSE after being privatised.

However, the bourse admits that few privatised firms are listed, saying the main reason was that most were yet to make profits.

Another reason for the few listings was that a firm was required to conform to the bourse regulations, among which is making a profit for three years in a row, a prerequisite which most of the privatised parastatals are yet to attain.

Currently the bourse offers zero capital gain tax as opposed to 10 per cent for unlisted companies; zero stamp duty on transactions executed at the DSE compared to 6 per cent; and withholding tax of 5 per cent on dividend income as opposed to 10 per cent.

The number of companies listing on the bourse might increase in two years to come following the passing of the Communication Bill that makes it mandatory for mobile companies to be listed on DSE.

Once the bill becomes law, telecommunication companies will be required to offer shares to the public. Subsequently, they will also be required to list with the DSE within three years after the Act comes into force, but subject to requirements of the Capital Market and Securities Act.
THE GUARDIAN
http://www.ippmedia.com/frontend/fun...le.php?l=37193
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Old January 9th, 2012, 11:27 AM   #3
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TBL shares sold out amid hopes of strong earnings
The TBL packaging area; The company’s share sale was oversubscribed, with experts attributing the success to the firm’s financial statement. Picture: Leonard Magomba

The TBL packaging area; The company’s share sale was oversubscribed, with experts attributing the success to the firm’s financial statement. Picture: Leonard Magomba

Tanzania Breweries share sale was oversubscribed by 145 per cent as investors bought into the offer on expectations that the brewer will continue posting strong earnings.

East African Breweries (EABL) was able to raise the $76.6 million it was looking for from the sale of a 20 per cent stake in TBL through an initial public offering at the Dar es Salaam Stock Exchange. The IPO received applications from 2,081 individuals and institutions for a total of 144.4 million shares against the 58.9 million shares on offer. Each share was selling for $1.30.

Brokers and transaction advisers to the offer said the demand for the shares was from both local and international investors buoyed by TBL’s growth prospects in the Tanzanian market.

The TBL IPO opened on November 6 and closed on November 25. Demand for the shares at the DSE remained high in the first week of trading in 2012 with the counter being the top traded stock with a turnover of $220,000 on January 4 and $670,000 on January 5.
The TBL counter is expected to remain active despite the general market indicating a low level of activity at the bourse due to tight liquidity in the economy and high yields of fixed income securities and money market instruments.

Across the border at the Nairobi Stock Exchange, foreign investors were last week rushing for EABL shares expecting the brewer to post strong earnings growth in the full year to June 2012 following the disposal of an associate stake in Tanzania Breweries, which will generate a one-off gain.
“We expect the brewer to post strong earnings growth for 2011/12 due to the disposal of an associate stake in Tanzania Breweries. Growth volumes are also likely to be good in the near term, with the inclusion of Serengeti Breweries on a full calendar year,” said analysts at Standard Investment Bank

On Friday, EABL’s shares trading at the NSE shot up 1.1 per cent to US cents 2, on the day TBL released the IPO results. EABL, which is majority owned by London-based Diageo, sold its 20 per cent in TBL, which is majority owned by SABMiller the South African brewer, as part of a deal to divest from the Tanzania-based beer maker.

The Kenyan brewer went on to buy a 51 per cent stake in Tanzania’s Serengeti Breweries in order to maintain a presence in the market.

EABL and SABMiller decided to end their eight year deal where they marketed each other’s products in Kenya and Tanzania respectively.

The end of the relationship also saw EABL buy back a 20 per cent stake in Kenya Breweries Ltd (KBL) from SABMiller. EABL secured a $219 million loan from its parent company, Diageo, to fund the buy-back from SABMiller. Both are now set to battle it out for the Tanzanian market, which offers good growth prospects.

TBL recorded a sales revenue growth of $239 million in the six months to September 2011 compared with $181.1 million over the same period the previous year, which represented an overall increase of 32 per cent. The brewer’s net profits in the six months ended September 2011, increased by 77 per cent to $46.2 million compared with $26 million in the same period a year ago.

TBL managing director Robin Goetzsche said the growth had been driven by increased volumes, improved product mix and inflationary price increases over the past year. The company’s overall volumes in Tanzania also grew by 21 per cent for the half year, having been flat in the previous period.

Additional reporting by Emmanuel Were
http://www.theeastafrican.co.ke/busi...o/-/index.html
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Old February 4th, 2012, 11:55 AM   #4
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Tanzanite firm to float shares at Dar bourse Send to a friend
Saturday, 04 February 2012 09:45
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By Ludger Kasumuni
The Citizen Reporter
Dar es Salaam. TanzaniteOne mining company is set to offer 20 per cent of its shares to the public through an Initial Public Offer (IPO).

Richland Resources Limited, which owns TanzaniteOne, is set to float the shares at the Dar es Salaam Stock Exchange (DSE) come April, officials said yesterday.

However, the value of shares and the corresponding price on the ground would be revealed soon.
The company’s approach is different from that of a mining giant, African Barrick Gold (ABG), which only cross-listed its shares at the same bourse. The two would be the only mining companies to list shares locally.

The Richland Resources Ltd finance director, Mr Farai Manyemba, said yesterday that although the company is listed at the London Stock Exchange, its management had decided to file an application for listing shares at DSE through an IPO.

Mr Manyemba was optimistic that local investors would positively receive their IPO and own a stake in the firm. “With cross-listing you wait for the share owners to sell, but with an IPO, local investors have a big opportunity for both buying and selling of the shares,” he said.
http://thecitizen.co.tz/news/4-natio...ar-bourse.html
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Old February 21st, 2012, 11:41 PM   #5
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Firm seals deal to explore gas and oil Send to a friend
Monday, 20 February 2012 20:43
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By Ludger Kasumuni,
The Citizen Reporter
Dar es Salaam. The Australia-based Swala Oil and Gas Tanzania has signed two agreements with Tanzania Petroleum Development Corporation (TPDC) and the government for exploration activities in the Kilombero-Kilosa and Pangani basins.

Addressing stakeholders during the signing ceremony yesterday, Minister for Energy and Minerals William Ngeleja said Swala was the first investor to team up with Tanzanians in oil and gas exploration.

“Some company shares will be set aside for local communities surrounding the oil and gas exploration fields,” Mr Ngeleja said, “and others will be listed at the Dar es Salaam Stock Exchange.”
Oil and gas exploration activities are rising rapidly in the country. Ten wells will be drilled this year.

“This company has used the new mining Act to make the decision though it is not related to oil and gas exploration,” said the minister. “Articles 10 and 109 of 2010 Mining Act stipulate inclusion of local ownership.”

The company has reportedly promised to use local resources, including equipment and human resources, in its procurement activities. He added: “I strongly urge the existing oil and gas exploration companies and the new comers to emulate Swala. This should be the role model.”

TPDC has been advised to give the company special treatment in other negotiated schemes, and the investors have promised to adhere to best practice to ensure that the exploration activities are environmentally friendly.

Swala Energy, which is listed on the Australian Stock Exchange, was represented by Exploration Director Neil Taylor and Business Development Director Chris Opperman. The Tanzanian side included Board Member Ernest Masawe and a consultant, Mr Basil Mramba, who is also a Cabinet member in the third phase government.

http://thecitizen.co.tz/news/4-natio...re-gas-and-oil
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Old June 4th, 2012, 11:05 AM   #6
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4th June 12
IPP to list two of its firms on DSE
Sylivester Domasa

IPP plans to list two of its companies at the Dar es Salaam Stock Exchange (DSE and allow employees to buy shares, making them part owners of the companies, its Executive Chairman, Dr Reginald Mengi has disclosed.

Addressing the Group’s employees at a special dinner he hosted in Dar es Salaam over the weekend, the Dr Mengi revealed that experts were working on the concept before the said companies are listed at the DSE.

He said all IPP employees (as individuals and group) would have opportunities to buy shares in the companies to be listed.

“To start with, we are expecting to list two of our companies at the Dar es Salaam Stock Exchange. We will reserve some shares for IPP members (employees)…the idea is to make all of us part and parcel of IPP,” he said.

Dr Mengi also clarified on some complaints by IPP employees that he had been assisting people with special needs such as people with disability, children and women, while forgetting his staff, explaining that people who received his assistance were leading difficult lives compared to employees.

He said his decision to help those in need did not benefit him personally, but “rather such assistance was being given by all the Group’s employees…in one way or another, all of us have been helping those in need.”

Meanwhile, Dr Mengi touching on IPP’s involvement in the mining sector in the country by establishing an exploration and prospect mining firm, said he joined the sector because most of Tanzanians were not aware of operations of sector.

“I decided to set up a strong mining firm for exploration of gold, uranium and coal in Tanzania because of the little understanding (on the part of many Tanzanians) on how to operate and carry out mining activities in the country…to the extent that we are leaving the mining sector development to foreign investors.”

“People thought mining activity is a risky undertaking. For years, Tanzanians imagined that mining and other related activities begins with mining but I can now tell you that it begins with exploration,” the chairman stressed.

In another development, Dr Mengi adjusted the Group’s employees’ minimum wage to 450,000/-, saying he did so because of increased cost of living most of Tanzanians faced.

According to Dr Mengi, adjustment of salaries will give relief to all employees to work who have to cope with high prices of goods and commodities at the local market.

For her part ITV/ Radio One Managing Director Joyce Mhavile applauded the IPP executive chairmen for hosting the dinner party and winning the recent international awards.

She also announced IPP chairman’s award of 500,000/- for the best worker of the month and 1m/- for the best employee of the year in each IPP company.
THE GUARDIAN
http://www.ippmedia.com/frontend/fun...le.php?l=42246
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Old June 6th, 2012, 09:45 AM   #7
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Quote:
Originally Posted by Geza Ulole View Post
4th June 12
IPP to list two of its firms on DSE
Sylivester Domasa

IPP plans to list two of its companies at the Dar es Salaam Stock Exchange (DSE and allow employees to buy shares, making them part owners of the companies, its Executive Chairman, Dr Reginald Mengi has disclosed.

Addressing the Group’s employees at a special dinner he hosted in Dar es Salaam over the weekend, the Dr Mengi revealed that experts were working on the concept before the said companies are listed at the DSE.

He said all IPP employees (as individuals and group) would have opportunities to buy shares in the companies to be listed.

“To start with, we are expecting to list two of our companies at the Dar es Salaam Stock Exchange. We will reserve some shares for IPP members (employees)…the idea is to make all of us part and parcel of IPP,” he said.

Dr Mengi also clarified on some complaints by IPP employees that he had been assisting people with special needs such as people with disability, children and women, while forgetting his staff, explaining that people who received his assistance were leading difficult lives compared to employees.

He said his decision to help those in need did not benefit him personally, but “rather such assistance was being given by all the Group’s employees…in one way or another, all of us have been helping those in need.”

Meanwhile, Dr Mengi touching on IPP’s involvement in the mining sector in the country by establishing an exploration and prospect mining firm, said he joined the sector because most of Tanzanians were not aware of operations of sector.

“I decided to set up a strong mining firm for exploration of gold, uranium and coal in Tanzania because of the little understanding (on the part of many Tanzanians) on how to operate and carry out mining activities in the country…to the extent that we are leaving the mining sector development to foreign investors.”

“People thought mining activity is a risky undertaking. For years, Tanzanians imagined that mining and other related activities begins with mining but I can now tell you that it begins with exploration,” the chairman stressed.

In another development, Dr Mengi adjusted the Group’s employees’ minimum wage to 450,000/-, saying he did so because of increased cost of living most of Tanzanians faced.

According to Dr Mengi, adjustment of salaries will give relief to all employees to work who have to cope with high prices of goods and commodities at the local market.

For her part ITV/ Radio One Managing Director Joyce Mhavile applauded the IPP executive chairmen for hosting the dinner party and winning the recent international awards.

She also announced IPP chairman’s award of 500,000/- for the best worker of the month and 1m/- for the best employee of the year in each IPP company.
THE GUARDIAN
http://www.ippmedia.com/frontend/fun...le.php?l=42246
Very good news for IPP employees
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Old September 7th, 2012, 10:16 PM   #8
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Tanzania: Women Bank Goes Public
Tagged: Banking, Business, East Africa, Stock Markets, Tanzania, Women
BY SEBASTIAN MRINDOKO, 8 AUGUST 2012
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THE Tanzania Women Bank (TWB) has confirmed being one of the earliest potential firms to list on the Dar es Salaam Stock Exchange's (DSE) Enterprise Growth Market (EGM).

TWB Executive Director Margreth Chacha said in Dar es Salaam yesterday that listing is a milestone move to avail Tanzanians with an opportunity to own shares of the steadily growing bank. Tanzania's second bourse segment, EGM, is expected to start before the end of the year.

Early this week, the Bank of Tanzania (BoT) issued the Tanzania Women Bank (TWB) with a new banking licence in the name of Tanzania Women's Bank Public Limited Company. "This is to inform the general public that TWB Limited changed its legal status from a Private Limited Company to a Public Limited Company," stated the central bank.

According to Ms Chacha, after securing permission from the BoT, the next stage will be to prepare the prospectus as required by the Capital Markets and Securities Authority (CMSA). In the meantime, after acquiring 2bn/- from the government to boost its capital, the bank plans to open new branches to widen its services to potential customers.

Ms Chacha said the bank will also direct its effort to upcountry regions, especially in training small scale entrepreneurs on financial literacy. The DSE chief Executive officer, Mr Gabriel Kitua, said recently that three more companies were expected to list on the bourse this fiscal year, bringing to nearly 20 the number of listed firms.

"Obviously, the increased number of listed companies will make the bourse more active and one of the fastest growing market in the region despite being small," he said. He said DSE has already received prospectus of the London-listed Richland Resources, the parent company of TanzaniteOne, planning to offload a 20 percent stake during a cross-listing and initial public offering on the Dar es Salaam Stock Exchange.

Mr Kitua added that the bourse, forecast strong interest from investors on Richland's shares. "There is a growing demand for new IPOs in the country. If investors will be satisfied by the profitability of the company, it will not prevent the firm's IPO to oversubscribe," he said.

The gas company is expected to issue new shares despite being listed in the London based Stock Exchange in order to mobilise funds for the exploration of gas in the southern Tanzania. The total market capitalisation has rose to 12.80tri/-, while domestic market capitalisation is 2.56tri/- as at end of last week. Currently, there are 11 listed domestic companies and six cross listed firms.
http://allafrica.com/stories/201208080045.html
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Old September 7th, 2012, 10:18 PM   #9
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Dar es Salaam stock exchange lists three new companies

WEDNESDAY, 01 AUGUST 2012 00:00
The Dar es Salaam Stock Exchange (DSE) is expected to list three additional companies this year.

Among the new companies that decided to list in the east African exchange is TanzaniteOne a fully owned subsidiary of London AIM listed Richland Resources, the world's largest extractor and supplier of rough Tanzanite.

"We are in the final stages of listing on the Dar bourse, largely to avail opportunity to as many Tanzanians to be part of the tanzanite industry," said Dotto Medard, the firm's Corporate and Public Relations Manager. He added, this will also allow Tanzanians be the shareholders in the largest miner of tanzanite.

The other two firms are believed to be a gas company and a bank but the bourse Chief Executive Officer Gabriel Kitua declined to mention their names.

However he stated that the increased number of listed companies will make the DSE one of the fastest growing market in the region despite being small.

DSE was incorporated in 1996 and trading started in 1998 and currently there are 11 listed domestic companies and six cross listed firms.

Last week the exchange turnover improved by 93 per cent thanks to an active participation of foreign investors and the market continues to show positive short term signals as the reporting season for the listed companies sets in.
http://www.tanzaniainvest.com/tanzan...-new-companies
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Old September 8th, 2012, 06:31 PM   #10
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Tanzanian oil firm to offer shares to local investors

With the East Africa drawing attention due to its huge gas and oil discoveries, CitiGroup estimates more and more companies are likely to raise capital in either debt or equity, to speed up their exploration works or to launch operations.

IN SUMMARY

Tanzania-based hydrocarbon explorer Swala Oil and Gas is going against the tide.
The company — majority owned by Swala Oil and Gas Australia — has launched a private placement in Tanzania, hoping to raise $1.2 million.
The company will use the money to collect data on the best drilling locations along its acquired blocks.
The private placement opened in August and closes at the end of September, with investors expected to buy a minimum of 80,000 shares at Tsh390 ($0.25) per share. Tanzania Securities is the issue’s stockbrokerage agent.
Swala Oil thinks that it has a higher chance of finding oil in Tanzania, given that its blocks share the same geographical features as Kenya’s block 10BB and Uganda’s Lake Albert region, where Tullow Oil has discovered in excess of 1.2 billion barrels of oil.
Swala has a 50 per cent equity interest in Pangani and the Kilosa-Kilombero hydrocarbon exploration licences in Tanzania; the company has applied for even more blocks, which it hopes to get. In Kenya, it jointly owns the 12BB oil block with Tullow Oil.
Oil and gas explorers usually look outside East Africa’s relatively smaller financial markets to more developed markets like the UK, US, Australia and Canada, for funding to fuel exploration.

But Tanzania-based hydrocarbon explorer Swala Oil and Gas is going against the tide.

The company — majority owned by Swala Oil and Gas Australia — has launched a private placement in Tanzania, hoping to raise $1.2 million. The company will use the money to collect data on the best drilling locations along its acquired blocks.

The private placement opened in August and closes at the end of September, with investors expected to buy a minimum of 80,000 shares at Tsh390 ($0.25) per share. Tanzania Securities is the issue’s stockbrokerage agent.

“Though oil and gas is a relatively new sector in the region, we feel the market is ripe for this kind of investment…we shall use the funds to collect more data as well as interpret what we have,” said David Ridge, the company’s CEO, in an interview with The EastAfrican on the sidelines of the just ended Africa Down Under mining conference in Perth, Australia.

Mr Ridge said the firm has considered doing a private placement for Swala Oil and Gas Ltd Kenya, but its limited assets in the country make it a hard sell.

“We have only one block in Kenya compared with two in Tanzania. Considering the risk involved in oil and gas exploration, it was more prudent on our part to offer the public a stake in our Tanzanian operations,” said Mr Ridge.

Swala Oil thinks that it has a higher chance of finding oil in Tanzania, given that its blocks share the same geographical features as Kenya’s block 10BB and Uganda’s Lake Albert region, where Tullow Oil has discovered in excess of 1.2 billion barrels of oil.

The company has been awarded a 50 per cent operated interest in the Pangani Block in Tanzania.

“The Pangani licence is interpreted to lie within the East African Rift System and potentially forms the southeast arm of a triple point junction at the southern end of this major rift system,” notes the information memorandum.

Swala has a 50 per cent equity interest in Pangani and the Kilosa-Kilombero hydrocarbon exploration licences in Tanzania; the company has applied for even more blocks, which it hopes to get. In Kenya, it jointly owns the 12BB oil block with Tullow Oil.

The move by the firm to raise capital locally is a departure from the past where regional exploration firms Pancontinental Oil and Ophir locked out potential local investors from contributing to the company’s cash call, or owning a stake in what is quickly becoming a future growth sector.

In April, Pancontinental Oil announced it would source $50 million through a placement to sophisticated investors and international institutional clients of Hartleys Ltd, the firm’s principal broker in Australia.

Swala Oil Tanzania’s current shareholders are Swala Oil and Gas Australia with a 70 per cent stake, Erncon Holdings Ltd which is associated with Tanzanian Ernest Massawe who is a director of the firm, with 20 per cent.

The remaining 10 per cent is held by Swala Oil and Gas in trust for the local community in areas that the company operates in.

“For us, it’s also a way of trying to get local investors and communities involved in the project from the start, which will ensure they are able to reap maximum benefits from the resources in the area,” said Mr Ridge.

The involvement of local investors and communities has always been a hot political and economic issue with local communities complaining they do not benefit enough from mining operations, an issue the firm says the placement will help address.

READ: Tanzanians to own a stake in oil, gas firms

“It is the intention of this offer to encourage Tanzanian investment in a Tanzanian oil and gas company, and the company’s parent, Swala Energy Ltd Australia, will therefore not participate in the offer until the Tanzanian and East African applicants have been satisfied,” reads the company’s information memorandum.

“It is the intention of the sponsors to have the shares of the company eventually traded through the Enterprise Growth market of the Dar es Salaam Stock Exchange. However, at this stage shares may be traded through an over-the-counter (OTC) market,” the memorandum stated.

But even as the company looks to tap funds from regional investors, the issue of liquidity is still a concern, given that the over the counter market remains poorly developed regionally.

This means it would be difficult for investors to realise their investment in the company, compared with listed firms.

Investments in oil and gas are considered risky since there is always a chance of not striking hydrocarbons despite the huge investments.

For example, Woodside Australia and Chinese Oil Company failed to hit oil in Kenya despite pumping in $100 million and $60 million respectively, while Tullow Oil estimates that there is only a 15 per cent chance of hitting oil in the Mbawa well currently being drilled on its block in offshore Kenya.

However, once a discovery is made, the gains are massive.

International oil and gas consulting firm Wise Owl values Swala Tanzania at $7 million, but in the event that the company discovers oil, it estimates the value would jump 34 times to $239 million in less than three years.

With the East Africa drawing attention due to its huge gas and oil discoveries, CitiGroup estimates more and more companies are likely to raise capital in either debt or equity, to speed up their exploration works or to launch operations, implying that there could be further opportunities for local investors.

“With no producing assets, we estimate Africa Oil needs $150-200 million to fund its share of exploration costs as activity accelerates in 2013. Africa Oil has already raised $37 million through the farm-out of some of its acreage. However, we believe it is likely that Africa Oil will also need to raise equity of $150 million,” CitiGroup said in an equity note on Africa Oil.

The UK’s Financial Times estimates that Tanzania will need at least $10 billion to construct oil and gas infrastructure to begin exporting the estimated 400 billion cubic metres of gas already discovered in the country.
http://www.theeastafrican.co.ke/busi...z/-/index.html
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Old September 9th, 2012, 10:13 PM   #11
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The Guardian Reporter
The government has expressed its commitment to encourage development of a vibrant capital market which would attract more investors to use it as a source of capital for their operations.

This was said yesterday in Dar es Salaam by the Permanent Secretary in the Ministry of Finance, Ramadhan Khijja, when opening the forum on deepening capital markets in Tanzania, jointly organised by the Dar es Salaam Stock Exchange (DSE), International Finance Corporation (IFC) and NIC capital.

He said given the importance of capital markets in the economy, the government shall continue to support its development and look for more incentives to have more players.

“The government will continue to raise funds for financing development projects by issuing and listing treasury bonds of different tenure, “he said.

Khijja said the government’s focus is currently on accelerating broad based economic growth, which is a basis for achieving sustainable poverty reduction and wealth creation.

According to him Tanzania is facing massive infrastructure deficit including inadequate transport, energy and water.

He said conventional foreign grants have not been adequate to finance all required infrastructure projects.

“In order to promote requisite increase rate of broad based growth , the government has increased its focus on financing such key infrastructure projects, which are crucial for stimulating the economic growth,” he added.

He also urged Tanzanians and investors to appreciate the advantages of using capital markets for their capital financing needs.
“The fiscal incentives provided including preferential tax rate on corporate tax which make the capital market a cheap source of capital financing,” he noted.

The PS said high investment for the recently growing energy, tourism, telecommunication, manufacturing and agro processing sectors pose a challenge and opportunity to the Tanzania capital markets.

Most of the growth in these sectors has so far been funded by debt and equity financing from global financial markets, he said adding that time was ripe for use of Tanzanian capital markets.

Speaking at the same forum, the DSE Chief Executive Officer, Gabriel Kitua, said the bourse has come of age and can now facilitate listing of companies of all sizes, corporate bonds of any class, sovereign and sub sovereign bonds.

He said the stock exchange intermediates long term investments in terms of shares and bonds.

“It mobilises savings from the economy and channels them to the most growth propelling activities, thus sparring overall economic growth,” he said.

Explaining further he said during the last 12 months the bourse saw market capitalisation more than doubled while a substantial achievement was recorded in secondary trading bonds.

For his part, the NIC Capital Managing Director, Irungu Nyakera said local bond market form an incredible backbone to financial markets all over the world since they are an integral part of local capital markets , without which there would not be liquid cash available for economic growth.

“Bonds help raise capital to build necessary infrastructure by facilitating liquidity, in tune with the long and short term objectives of the borrowing corporate or governments”, he added.

The one day forum which attracted over 70 participants including managing directors, senior government officials was supported by Efficient Securities markets Institutional development (ESMID) Africa which is a joint programme by IFC.

THE GUARDIAN
http://www.ippmedia.com/frontend/fun...le.php?l=45578
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Old September 14th, 2012, 10:44 AM   #12
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14th September 12
2 Banks, mining and investment ventures lined up for bourse initial public offering
The Guardian Reporter
Four companies are lined up for listing on the Dar es Salaam Stock Exchange between now and next year in a move expected to stimulate trading in the bourse.

Speaking to this paper in an interview at a forum on deepening capital markets in Tanzania jointly organised by the DSE, International Finance Corporation (IFC) and NIC capital, in Dar es Salaam recently the exchange’s Chief Executive Officer, Gabriel Kitua, declined to give the name of the firms but said preparations have reached a good stage.

“I cannot mention the names of the companies at the moment, but what I can say is that we have two commercial banks, one mining company and one investment company which are lined up for IPO,” he said.

Kitua said the new listings will stimulate trading and make the bourse more active and one of the fastest growing markets in the region despite being small. At the moment the bourse has listed 17 companies.

Meanwhile, the DSE will later on this year start a sensitisation seminar to educate the public on the new Enterprise Growth Market (EGM).

Kitua said the seminar to be conducted in four regions will be carried out in collaboration with officials from the Bank of Tanzania, Capital Markets and Securities Authority (CMSA) and DSE.

So far the DSE has started programmes for students in secondary and higher education institutions to educate them on the EGM during trading sessions.

“We have made much effort in three regions, which are Coast, Dar es Salaam and Morogoro, and where have been sensitising entrepreneurs on the importance of markets for their business.
On municipal bonds, he said, already a study to establish legal and institutional framework for issuance of the bonds has been finalised.

In the endeavour to promote and develop efficient and sustainable capital markets and securities in Tanzania, the CMSA conducted a feasibility study on municipal bonds market in 2005.

The study found out that there are sizeable local government authorities prepared to raise funds by way of debt instruments, adding that the development financing to these institutions remains inadequate and that there is a competent regulatory regime for the instruments.

The government through the assistance of the World Bank sponsored the two-phase municipal bonds study.
At present all local authorities depend largely on subventions from the central government and some taxation to raise revenues for their expenditures.

THE GUARDIAN
http://www.ippmedia.com/frontend/fun...le.php?l=45804
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Old September 23rd, 2012, 01:54 PM   #13
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21st September 12
CMSA wants all firms making profit to list on bourse
Felix Andrew
The Capital Markets and Securities Authority (CMSA) has said it will recommend to the government that a new law should be enacted to ensure that all profit making firms list shares on the Dar es Salaam Stock Exchange (DSE) to make it vibrant.

Speaking to this paper in an interview recently on the side of a forum on deepening capital markets in Tanzania CMSA Chief Executive Officer Nasima Massinda, said the bourse has too few listed companies to make it vibrant.

She said Tanzania’s economy is doing well and there are so many local profit making companies which are not listed on the bourse.
“We have various international companies such as those doing mining which have listed their shares abroad but are not listed here, we will request the government to see that it works out a modality for them to participate locally,” she said.

She also said that there is a need to address the challenges which faces the development of the bourse in the country.

According to her low level of awareness of the industry and shortage of experts are the major problems facing the sector.
The forum was jointly organised by the DSE, International Finance Corporation (IFC) and NIC capital.

Speaking in a separate interview, some stakeholders urged the government to enact a law which would push profit making companies to list on the exchange.

Samson Mwakikoti said there are many firms which are performing well but are not listed on the bourse.

“We have a good number of profit-making firms which are not listed on the bourse for no apparent reasons,” he said, adding that that is contrary to the rationale of having exchanges.
In the developed countries, he said, they use bourse for economic development activities.

According to him time has come for the firms to raise capital through the bourse for the nation’s development.
Another stakeholder, Henry Sabuni, urged the DSE to provide more information and educate Tanzanians on the benefits of investing in the stock market.

"Trading at the DSE only benefits a few people, especially those residing in Dar es Salaam. People from the rest of the country seem completely unaware of the work and importance of taking part in the bourse," he noted.

Direct benefits in investing in the stock market include earning dividends, selling and buying stocks and using shares as collateral to access bank loans.

"This is a long-term investment that shareholders should focus on for their own economic benefits," he said.

THE GUARDIAN
http://www.ippmedia.com/frontend/fun...le.php?l=46058
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Old October 19th, 2012, 09:16 AM   #14
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Poac asks NHC to list its shares
Thursday, 18 October 2012 21:21

By Frank Kimboy
The Citizen Reporter
Dar es Salaam. Parliament’s Public Organisation Account’s Committee (POAC) has instructed the National Housing Corporation board of directors to list the company’s shares at the Dar es Salaam Stock Exchange.

Speaking after going through the NHC 2010/11 financial report, the Poac chairperson, Mr Zitto Kabwe, said by listing the NHC shares at the Dar es Salaam bourse many Tanzanians would benefit from the state’s housing corporation.

Mr Kabwe said since NHC has been generating profit for the past few years, it is important that wananchi benefit from the profit.“In the 2009/10 you generated about Sh3 billion as profit and the 2010/11 report shows that you generated a Sh6 billion profit.

It is therefore important that wananchi who own the company share the profits,” said Mr Kabwe. However, Mr Kabwe said the NHC management and its board of directors should take a cautious approach when implementing the committee’s directive.

Elaborating, Mr Kabwe said since NHC was a public corporation, the government should retain most of the shares. “You should list at least 25 per cent of your shares at the Dar es Salaam Stock exchange but make sure that the government remains the majority shareholder,” said Mr Kabwe.
The committee also urged the NHC management to adhere to the Public Procurement regulations.
http://thecitizen.co.tz/news/5-polit...ts-shares.html

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Old October 19th, 2012, 12:57 PM   #15
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Old November 6th, 2012, 12:49 AM   #16
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Tanzania Postal Bank posts 4.2bn/- pre-tax profit

Tanzania Postal Bank (TBP) has posted a pre tax profit of 4.24bn/- in cumulative year ending this year’s third quarter and putting alive expectation of meeting its annual target.


Tanzania Postal Bank

The bank, which is also eyeing to list at Dar es Salaam Stock Exchange, has targeted to generate 4.5bn/- at the end of this year, with the September profitability signifying easy meeting of the projections. In September-to-September comparison, TBP has managed to increase it’s pre tax profit from 2.51bn/- last year to 4.24bn/- of 2012.

According to the bank financial statement issued, interest from loan portfolio contributed 13.72bn/- up to end of September compared to 10.38bn/- of previous September. Interest from loans was made possible following the bank’s increase on lending activities to reach 94.28bn/- in three months from June 2012.

Total deposits reached almost 140bn/-. On other hand, the bank, because of its prudent lending has not written off bad debts in the first nine-month of this year compared to 67m/- struck-off in the same period last year. While the Non Performing Loans (NPLs) to total gross loans increased marginally by 0.06 percentage points to 2.92 per cent which propel TPB to set aside 870m/- for impaired losses on loans and advances.

The statement also indicates that non interest income was 7.39bn/- compared to 6.18bn/- with bigger share coming from foreign exchange dealing, and fees and commissions. The bank last month said that it intends to list at DSE to boost its capital and enable expanding its outreach.

The listing is expected to be implemented early next year if all went as planed. At present TPB, the pro SMEs bank is a financial institution that cannot create money through cheques. The bank was looking for funding in-house, but the option may take long, as the bank’s assets are still low to warrant immediate internal capitalization. The bank’s assets at the end of September stood at 162.05bn/- after climbing from 160.25bn/- in June.
http://www.dailynews.co.tz/index.php...pre-tax-profit
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Old November 6th, 2012, 06:31 AM   #17
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Originally Posted by Geza Ulole View Post
Tanzania Postal Bank posts 4.2bn/- pre-tax profit

Tanzania Postal Bank (TBP) has posted a pre tax profit of 4.24bn/- in cumulative year ending this year’s third quarter and putting alive expectation of meeting its annual target.


Tanzania Postal Bank

The bank, which is also eyeing to list at Dar es Salaam Stock Exchange, has targeted to generate 4.5bn/- at the end of this year, with the September profitability signifying easy meeting of the projections. In September-to-September comparison, TBP has managed to increase it’s pre tax profit from 2.51bn/- last year to 4.24bn/- of 2012.

According to the bank financial statement issued, interest from loan portfolio contributed 13.72bn/- up to end of September compared to 10.38bn/- of previous September. Interest from loans was made possible following the bank’s increase on lending activities to reach 94.28bn/- in three months from June 2012.

Total deposits reached almost 140bn/-. On other hand, the bank, because of its prudent lending has not written off bad debts in the first nine-month of this year compared to 67m/- struck-off in the same period last year. While the Non Performing Loans (NPLs) to total gross loans increased marginally by 0.06 percentage points to 2.92 per cent which propel TPB to set aside 870m/- for impaired losses on loans and advances.

The statement also indicates that non interest income was 7.39bn/- compared to 6.18bn/- with bigger share coming from foreign exchange dealing, and fees and commissions. The bank last month said that it intends to list at DSE to boost its capital and enable expanding its outreach.

The listing is expected to be implemented early next year if all went as planed. At present TPB, the pro SMEs bank is a financial institution that cannot create money through cheques. The bank was looking for funding in-house, but the option may take long, as the bank’s assets are still low to warrant immediate internal capitalization. The bank’s assets at the end of September stood at 162.05bn/- after climbing from 160.25bn/- in June.
http://www.dailynews.co.tz/index.php...pre-tax-profit
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Old November 6th, 2012, 10:33 AM   #18
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Old November 6th, 2012, 12:04 PM   #19
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Hahaha, naomba sala zenu zote zikubalike, haha
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Old March 31st, 2014, 01:25 AM   #20
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DSE engages varsity students in trading

THE Dar es Salaam Stock Exchange (DSE) has embarked on an initiative to encourage youth in the higher learning institutions to develop the culture of saving and investment.

The DSE Chief Executive Officer, Mr Moremi Marwa, said at the weekend in Dar es Salaam while launching the DSE Scholar Investment Challenge 2014 at the University of Dar es Salaam, that the initiative will enable students develop key skills on equity markets.

"The challenge aims to transform trading on the financial markets into accessible and enjoyable collaborative experience to students in institutions of higher learning," he noted.

It is an online simulation of live trading at the DSE where each participating individual or group is given virtual startup capital of 1m/- to invest, using the DSE real time information for three months from April to June, this year.

To ensure access to students from all higher learning institutions including universities, technical institutes and colleges, Mr Marwa said the scholar investment challenge is a mobile based initiative where students can participate through an access code *150*36=.

"The winner as the team or individual will walk away with 2m/- prize after being considered by a panel of judges to have made the most sound investment decisions, the highest portfolio value and contributed in the discussion forum," he added.

Mr Marwa said the challenge will enable students to simulate the unique intensity and excitement of live office based trading in brokerage houses and the stock market into their learning environment.

With the initiative, students will also develop essential mathematical techniques and applications, apply their business, finance and economic understanding as well as build up key skills in a collaborative and time pressured environment.

Also participants will learn that prices, indices and other data in the market are affected by both fundamental performance of the listed firms, the overall economic trends and information in the news as well as what investors, investment analysts and brokers do.

"We believe the initiative is meaningful and engaging for students to demonstrate their understandings, skills and attitudes," he said.

The president of the Dar es Salaam University of Finance Association, Mr Rogers Katuma, said the challenge was a unique opportunity for the students to take part in the equity market and for future investment.

"Most students have theoretical knowledge about finance and business, but do not know about the stock market," he noted.
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