The government has earned 110.4bn/- as dividend last year from three listed companies where it owns shares.
The DSE Market Research and Development
Manager, Mr Ibrahim Mshindo named the listed firms as Tanzania Breweries
Limited (TBL), Tanzania Cigarette Company (TCC) and National
Microfinance Bank (NMB).
He said in an interview in Dar es Salaam
that apart from the earned dividends to the government from the said
companies have also created more quality employment, paid more taxes,
and increased more wealth to investors.
"Creation of wealth to investors is one
of the major objectives of the stock markets and this is one of reasons
why the government champions the establishment of the Exchange in
1990's," said Mr Mshindo.
Of the three, the government has the
highest number of total dividend paid at NMB amounting to 65bn/-
followed by TBL 33.4bn/- and TCC 12bn/-.
Apart from other levies and duties paid,
the three companies have in the period under review paid nearly
187.7bn/- to the government as income tax.
From the three listed companies, it is a
clear indication that there are more benefits that could be reaped, an
incentive to persuade the government to list more firms.
For example, Mr Mshindo identified ten
public enterprises for which the government has shares and qualify to
list immediately including Airtel Tanzania (40 per cent shares), Mbeya
Cement (25 per cent), Aluminium Africa (40 per cent), Tanzania
Electrical Goods Manufacturing Company (30 per cent).
Others are NBC (1997) Limited (25 per
cent), Tanzania Cables (49 per cent), Kilombero Sugar Company Limited
(25 per cent), TPC Limited Moshi (25 per cent), Mtibwa Sugar Estates
Limited (5 per cent) and Polysacks Limited (25 per cent).
The DSE has continued to post
outstanding performance and 18 months it increased in terms of market
liquidity to 10 per cent from only one per cent, domestic market jumped
to about 10tri/- from 3.3tri/-.
"This relatively significant growth in
the market activities is a result of initiatives taken by the DSE
management and board in improving operational efficiency and good
performance of the companies that are listed," he said.
Source: Daily News, reported from Dar es Salaam, Tanzania
0 comments :
Post a Comment