Dar es Salaam – The Dar es Salaam Stock Exchange is presently having just fourteen domestic listings and seven cross listings. It works closely with the Ugandan Securities Exchange and Nairobi Securities Exchange. Lately it is being revealed the three exchanges are to be integrated into one regional exchange, similar to what has been seen as the Andean Exchange in South America.
The Dar es Salaam Stock Exchange has been qualified as one of the smallest actively traded capital markets in the world and very recently the country’s economy was also praised by the International Monetary Fund (IMF) saying Tanzania is one of the bright spots in Africa.
If believed to a report of IMF, likes of Tanzania, Mozambique, Ethiopia, Democratic Republic of the Congo (DRC) and Cote d’Ivoire are projected to register growth of at least 7 percent in 2015 and 2016.
In the recent presidential election the nomination of John Magufuli was considered somewhat of a surprise. Though he was not accepted as one of the leading candidates, his role in ministry has always given him fame for his work on anti-corruption antics like hiding in trucks before reaching at weigh stations to expose the corrupt officers at the point by jumping out from the vehicle and catching them red-handed.
After winning the presidential election the trained chemist and government minister vowed to get strict with corruptions in the country and improving the economy too.
The Tanzanian economy is based on commodity exports and gold accounts to about 90 percent of the value of all exports. The country also has great deposits of coal. Diamond mining is also done.
