TCCIA promotes investment in equities

Tanzania have been urged to develop a habit of investing in shares to improve living conditions and the country’s economy in general.

Mr Arphaxad Masambu, an expert on financial securities, said recently that time has come for Tanzanians to start learning about shares and buying.

Mr Masambu from the Rasilimali Limited, a brokerage company, made the appeal at the training for members of Tanzania Chamber of Commerce Industries and Agriculture (TCCIA) Investment Company in Dar es Salaam.

“We have to change and develop interest in buying shares,” he said. Calling on more people to go for TCCIA Investment Company shares, he explained that buying shares is one of the best and safer ways to invest.

“Investment companies are run by country’s laws and regulations... people should not fear investing in them,” he said. The Chairperson of TCCIA, Mr Joseph Kahungwa, said their company is set to come up with several products that will benefit members.

“We have been making progress since we started in 2006,” he stressed, adding that Tanzanians should not leave the business of investing in shares in the hands of foreigners.

He said TCCIA want to be the catalyst for their members and Tanzanians at large to own and manage businesses and the country’s economy.

TCCIA Investment Company announced an increase of profit in the year 2014 to 523.65m/-, up from 411.76m/- last year.

According to the company’s Chief Executive Officer, Mr Donald Kamori, the success has been partly due to wise investment in profit making companies which give dividends every year.

TCCIA has invested in eight companies which are NMB, CRDB, Dar es Salaam Commercial Bank (DCB), TWIGA and SIMBA cement industries, Tanzania Breweries (TBL), Swiss Port and Tanzania Cigarette Company (TCC).
Source: Daily News,reported from Dar es Salaam, Tanzania
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