CEOrt welcomes local investors to utilise upgraded DSE

23Nov 2019
Crispin Gerald
Dar es Salaam
The Guardian
CEOrt welcomes local investors to utilise upgraded DSE

THE CEO Round Table of Tanzania (CEOrt) has welcomed local investors in the country to make use of the Dar es Salaam Stock Exchange (DSE) following the recent development made in the stock bureau that attracts global investors.

CEO for DSE Moremi Marwa

DSE has recently been awarded accreditation from U.S based institutions to a frontier market status after a long assessment of the market on how it performs.

Speaking to reporters over the weekend CEO for DSE Moremi Marwa said the market got the award after long scrutiny of the market that focused on assessing its performance.

He added that the new classification will enhance global investors confidence thus increasing liquidity within the Tanzania market and encouraged continued initial public offerings (IPOs).

Marwa noted that the stock market has succeeded to retain the status of the business to its customers while at the same time expand the scope of the investment.

"Investment in the share is a long term business which needs consistency and passion as the profit doesn't come in a day," he explained.

"Our expectation is that investors confidence in investing in Tanzania market will rise, and because the economy is growing at a promising rate, we expect to see more investments in the future," he explained.

Historically, private sector companies lamented the high financial and regulatory costs associated with listing on the stock exchange, however, it is deemed that the benefits far outweigh the costs in terms of wealth creation, enhanced access to capital and visibility.

Chairman for CEO round table Sanjay Rughani said the best thing to do is to establish what kind of education and awareness is needed to be applied to attract investors in the market.

"Also to discuss what kind of policy reforms is required, what kind of strategy is required, so that in the future we can see a lot of action that will be taken from the private sector, and the government to have policy reforms and an enabling environment," he added.

The CEO round table continues to advocate for improved business environment to ensure the private sector remains well positioned to help Tanzania achieve it's long term economic objectives.

As part of the organisation's efforts to help promote sustainable socio-economic development and in line with the ethical leadership agenda, the round table adopted key initiatives including public private dialogue, leadership capacity building and business and sustainability.