Tanzania mining companies 'should register on DSE’

STOCK_Iman_MosaadExperts have urged Tanzania mining companies to list on the Dar es Salaam Stock Exchange (DSE) to enable local people have a stake in the firms

The DSE research and market development manager, Mohamed Kailwa, said despite being one of the leading countries in the mining sector in Africa, investors in Tanzania lag behind in listing at DSE.

“We are the fourth-leading gold producer in Africa after South Africa, Ghana and Mali, but only one mining company, Barrick Africa Gold (BAG), is listed on DSE,” he added.

BAG, which was listed on the London Stock Exchange, last year crosslisted on DES.

Kailwa said Tanzanians should also be engaged in large-scale mining and leave the business to foreigners.

“By listing on DSE, many Tanzanians will have the opportunity to get a stake in the firms,” he said.

Jamil Ampomah, director of the Association of Chartered Certified Accountants in sub-Saharan Africa, said,  "Tanzania and other countries in the sub-Saharan region should venture in capital markets as it is a reliable way to recover in the aftermath of the world economic crunch.

“Capital market is a reliable source of funding and generating more investments that will lead into growth. It is a fact that we need money to grow,” he added.

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