Saturday, December 31, 2011

Tanzania Stock Market Commentary – Week Ending December 2, 2011

The DAR ALSI moved up 9bps to 1,303.8. Top gainers were Swissport (+1.2% to TZS 820) and NMB (+1.2% to TZS 850). There were 9.7m Tanzania Tea Packers (TATEPA) shares traded at TZS 230 per share (-51.6% from TZS 475-market price) in one deal that made the tea company the week’s top value trader and top decliner. Other actively traded counters were NMB and TWIGA.
In company news, Serengeti Breweries commissioned its Moshi plant with capacity to brew 500,000hcl and is expandable by an additional 300,000hcl. This brings the brewery’s total capacity to 1.5mhcl. Serengeti Breweries is a subsidiary of East African Breweries Ltd.
Swiss company, Augusta Energy, has been awarded a USD 500m contract by the government to supply 540,000t of oil to the country for the first two months of 2012. The contract marks the introduction in Tanzania of a new bulk procurement system for oil imports.

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