The DSE Chief Executive Officer, Mr Moremi Marwa.The DSE Chief Executive Officer, Mr Moremi Marwa (pictured).THE Dar es Salaam Stock Exchange (DSE) will continue encouraging the private sector to consider investing in the equity market as a potential source of raising long term capital.
The DSE Chief Executive Officer, Mr Moremi Marwa, said in an interview in Dar es Salaam that going public is an initiative that requires the listing of firms to adopt business practices related to transparency and good governance.
The efforts to educate the public, to engage with decision makers, both in the private and the public sector, to make the stock market more efficient has resulted into some positive outputs.
“For example, we have successfully conducted the practical knowledge enhancement on savings and investment activities to higher learning students via the DSE Scholar Investment Challenge,” he said.
He added, through this initiative, higher learning students learned practically on how to invest and trade in listed shares using a combination of actual data from the DSE and a virtual trading platform.
Next year, DSE will enhance efforts for public awareness and public education to inform the business community, existing and potential investors, the government (its agents and local governments) and policy makers on the role of stock market to facilitate financing of business enterprises and government programmes.
Also, the bourse is projecting and targeting to list at least five companies in the calendar year 2015 and would work to improve bonds trading support services to key market participants so as to enhance bonds liquidity and depth.
Apart from the continued efforts of creating public awareness, the bourse’s performance for the year has been impressive with its total market capitalisation to Gross Domestic Product (GDP) before October 2014 economic rebase growing by 43 per cent from levels of 30 per cent in January.
According to the DSE boss, “The equity market performance implies the DSE shareholders new wealth creation grew to 22.7tri/- from 16.5tri/- in January.”
He added, “Our domestic and total market capitalisation, for example, grew by 66 per cent and 40 per cent respectively that some global news media places on the top list on this category.”
Source: Daily News, reported by Sebastian Mrindoko from Dar es Salaam, Tanzania
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