Firms eye listing at DSE alternative market

Three companies have shown interest to list on the Dar es Salaam Stock Exchange’s (DSE) second market segment, which has lesser stringent listing requirements.

Trading at Dar es Salaam Stock Exchange

The firms – one from the banking and two from the mining sector – are at advanced stage of listing at the Enterprise Growth Market (EGM), that caters for starter-ups and operational businesses that face working capital constraints.

The Enterprises Growth Market Advisor (EGMA) Managing Director, Dr Fratern Mboya, said one community bank would list in the next three months. “(But) it is too early to give names before we sign a memorandum of understanding (MoU),” Dr Mboya told the ‘Daily News’ in Dar es Salaam.

The other two mining firms – Swala Oil and Gas Tanzania – have shown interest to raise capital through EGM for exploration drive in the country and they are just waiting for approval from shareholders. Austrian Swala Energy owns Swala Oil (Tanzania) by 65 per cent.

“Be patient…once we ink the agreement, we will disclose everything, including the names but rest assured that this year would not end without a product on the EGM,” said Dr Mboya.


Capital Markets and Securities Authority (CMSA) Principal Public Relation Officer, Charles Shirima said a number of firms have shown interest to go public through the EGM although no tangible applications have been received. “Yes.

A number of firms have shown interest but no formal application has been logged so far,” Mr Shirima said. According to a source, Swala Oil management has presented the offer documents to the shareholders and is waiting for approval before filing an application for public offering to CMSA and DSE.

If Swala gets the shareholders’ approval as expected, it might become the first company to list through the alternative market that has been yawning for products since it opened doors late last year.

Source Tanzania Daily News

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