Monday, March 31, 2014

Fewer numbers of Tanzanians registered on DSE market, says CEO



ABOUT 200,000 Tanzanians have bought company’s securities from different 18 companies which have been listed in Dar es Salaam Stock Exchange (DSE) market the largest in the country ever since its establishment in mid 1990s. An official from DSE has said. DSE’s Chief Executive Officer Moremi Marwa said in an exclusive talks on Saturday last week in Dar es Salaam moments after his firm had officially launched the DSE Scholar Investment Challenge 2014 for students of higher learning institutions in the country. The event took place at the University of Dar es Salaam (UDSM) whereby DSE facilitated the occasion in collaboration with the Department of Finance of the UDSM Business School (UDBS) at the main campus and attended mostly by students of different faculties of the University. He said, the current number of Tanzanians constitutes approximately less than 1 percent of the total population of 45.5 million people in the country. However, he said adding that, there is a need to educate the public and create awareness on the role of stock market to investors, business at enterprises and the economy at large. Earlier on his opening remark speech, he underscored the importance of the DSE Scholar investment challenge and noted that, is an edutainment initiative targeting Tanzanian youths who are in learning higher institutions which include Universities, Technical Institutes and other post-Secondary education colleges. “This is an initiative to encourage the youth to develop culture of saving and investment by demonstrating in practical way why and how to buy and sell securities on DSE”, he said. He further noted that, the challenge is an online simulation of live trading at DSE, where each participating group/individual is given a visual start up capital to invest using the DSE real time information for a period of 3 months starting from 1st April to June 30th 2014. 

DSE’s Chief Executive Officer Moremi Marwa 

Elaborating more, the CEO noted that, the challenge is a mobile based where students can participate through an access code number in their mobile phones *150*36=. However, he said adding that within a period of 3 months each participant will be given access to DSE real time information and a visual start up capital of Sh. 1 million to invest in securities listed on the DSE. He noted that, the main objectives of the investment challenge is to transform trading on the financial markets into accessible and enjoyable collaborative learning experiences to higher learning students in the country. The challenge will enable them to simulate the unique intensity and excitement of live-office based trading in brokerage houses and the stock market into their learning environment. Students acting in singularly or working in teams, will therefore have the opportunity to visually invest in 12 companies out of 18 listed on DSE, and will get their regular reports as they would be disseminated through various media outlets in the country. During the challenge, participants will learn to understand that prices, indices nd other data and information in the stock exchange are affected not only by the fundamental performance of the listed companies. On his part, the Director of the Financial Markets of the Central Bank of Tanzania (BOT) who was also the guest of honour, Alexander Ng’winamila thanked the initiative established by the DSE and not4ed that, this is a one forward to put awareness of  securities of the companies listed on DSE. He said the government has praised the move for at such a stage, it was important to put awareness to youths in higher learning institutions on the basic issues related with capital markets and securities in the country.

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