Tanzania: telcos must list on Dar es Salaam Stock Exchange

28 Jun 2016

Tanzania’s National Assembly has ordered all telecoms companies registered within the country to float a 25% stake on the Dar es Salaam Stock Exchange (DSE). The order was included in the government’s Finance Bill, 2016, which was passed last week. Local operators have been given six months to do so, with the process beginning in earnest on 1 July 2016. Defending the hotly contested bill, Finance and Planning Minister Dr Philip Mpango argued that the clause to list shares on the DSE was originally included in Section 26 of the Electronic and Postal Communication Act, 2010, but was not enforced. The companies were initially given a three-year window within which to comply, he noted. All Africa quotes Dr Mpango as saying: ‘The amendment now makes it mandatory for these companies to list with the stock exchange. This is very important as it would help the government trace the exact revenue generated by these companies.’