The long wait for mobile telecommunication companies to list at the Dar es Salaam Stock Exchange (DSE) will finally come to an end in six months time after Parliament approved the Finance Bill, 2016 which contains amendments to the Electronic and Postal Communications Act of 2010. According to the Finance Bill, 2016, the electronic and communication companies registered in the country are required to float their shares to the public and subsequently list its shares on the DSE within six months from July 1.

The Dar es Salaam Stock Exchange (DSE) initial public offering (IPO) was conducted from Monday 16th May, 2016 to 3rd June, 2016 and aimed to raise TZS 7,500,000,000 from the offer of 15,000,000 shares at a price of TZS 500/= per share.

The share price of Mucoba Bank (Mucoba) rose by 60 per cent after five days of trading after the bank became the latest entrant into the Dar bourse.

Mucoba Bank has become the first upcountry bank to be listed on the Dar es Salaam Stock Exchange (DSE) after raising a capital of more than Sh2 billion during its initial public offering. (IPO)