Wednesday, August 17, 2011

Dar es Salaam stock exchange sells data to US

DAR ES SALAAM, TANZANIA - The Dar es Salaam Stock Exchange (DSE) has exchanged market data with the United States-based Bloomberg global business.

The Bloomberg will access and provide the DSE with real time market and financial information to more than 300,000 subscribers globally.

According to Mr. Gabriel Kitua, the DSE Chief Executive Officer, the move will enable global investors to make spot decisions about buying or  selling. "The DSE-Bloomberg agreement will place Tanzania exchange market to the rest of the world," Mr Kitua said.

He said t the deal is one of the efforts to increase the DSE market visibility
and liquidity to enhance its vibrancy.

The DSE, Mr Kitua said, wants to reach world markets by publishing its market data on its website, news papers, radios, television and the Internet. The CEO said the DSE plans to look for at least three top big vendors in the world.

Mr Emanueli Nyalali, the Clearing and Settlement Manger of DSE told the East African Week that trading business was now performing well. "This is an opportune time for the DSE to move the Tanzania stock market further and be know worldwide."

Dar's bourse, active every week day, issues daily reports at the close of each day's session as well as weekly and monthly reports by other stock markets. Companies listed at the DSE include the Tanzania Breweries Limited, Tanzania Cigarette Company, Tanzania Tea Packers, Tanga Cement Company, Tanzania Portland Cement, TOL limited, Dar es Salaam Community Bank, CRDB Bank, Swissport Tanzania Limited, the National Microfinance Bank and NICOL - which has been suspended from trading. Cross listed companies include Jubilee Holdings, Nation Media Group, Kenya Commercial Bank and Kenya Airways.

Bloomberg which started in 1981 to bring transparency to capital markets through access of information to increase capital flows, produce economic growth and jobs, and significantly reduce the cost of doing business.
Bloomberg News, is delivered through the Bloomberg Professional service, television, radio, mobile, the Internet and two magazines, Bloomberg

Businessweek and Bloomberg Markets, covers the world with more than 2,300 news and multimedia professionals.

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