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.
No comments:
Post a Comment