World Exchange Congress 2017: First step – get domestic capital markets right
Key points from panel “Alternative exchanges and connecting the African markets: What do you need to know?” at the World Exchange Congress 2017 in Budapest.
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Key points from panel “Alternative exchanges and connecting the African markets: What do you need to know?” at the World Exchange Congress 2017 in Budapest.
Trading has been fast and furious in the shares of Dar es Salaam Stock Exchange PLC, which self-listed at 9am on 12 July. The first day of trading saw the shares open at TZS 500 each and soaring as high as TZS 1,000 and trading again scorched today (13 July).
Total bids for the initial public offer (IPO) of shares in the Dar es Salaam Stock Exchange PLC was TZS35.8bn ($16.4m). This is 4.8 times the offered amount of TZS7.5bn ($3.4m) in the IPO which closed on 3 June. The DSE will self list on 12 July.
The Enterprise Growth Market for small and medium size businesses is picking up momentum on the Dar es Salaam Stock Exchange and Mwalimu Commercial Bank Plc was the fourth listing on 27 November.
After a high-speed 8 weeks installation, Dar es Salaam Stock Exchange (DSE) successfully “went live” on 27 June with an integrated trading system and clearing and settlement technology supplied by South Africa’s Securities and Trading Technology (STT).
The CEO of Tanzania’s Dar es Salaam Stock Exchange opened trading on the London Stock Exchange on 27 Jan alongside UK Secretary of State for International Development, the Rt Hon. Justine Greening MP. LSE Group signed a MoU with the Department for International Development to work on capital markets development across sub-Saharan Africa.
The Dar es Salaam Stock Exchange made operational improvements in 2013 including doubling trading hours, reducing settlement times on equities and bonds and introducing a wide-area network (WAN). Turnover soared five-fold to $156 million compared to 2012.
Tanzanian news media yesterday (1 May) announced that 37-year old Moremi Marwa has been appointed as the new CEO of the Dar es Salaam Stock Exchange. He is the first stockbroker to manage the securities exchange.