In a move that will allow citizens to own stake the quickly growing telecom industry, Tanzania mobile phone operators are expected to list on the Dar es Salaam Stock Exchange (DSE) by early 2015.
The Government of Tanzania is currently finalizing the process of listing the country’s telecoms companies listed on the DSE in compliance with two separate mining and telecoms regulations passed in 2010 that originally required companies to list on the stock exchange by 2013.
The deadline for Tanzania telecom companies to list on the bourse was since extended to 2015 in order to better implement legal and regulatory procedure of the legislation.
Under the new law, it will be required for new Tanzania telecoms companies to list on the DSE within three years of acquiring their operating licenses.
According Moremi Marwa, CEO of the DSE, the listing of the telecoms companies on the bourse will significantly enhance the value of the exchange though additional listings and subsequently increased market depth and liquidity into the local exchange, which will facilitate growth in the country’s capital markets industry.
The Tanzanian mobile telecoms sector currently boasts 28.88 million mobile subscribers, which represents a 64% mobile penetration rate from its leading mobile phone operators including Vodacom Tanzania, Bharti Airtel, Tigo Tanzania, and Zantel.