All telecom companies operating in Tanzania will be listed on the local stock exchange by the end of the year, the country’s deputy communication, science and technology minister said on Wednesday, days after a deadline for them to do so had passed.
The mandatory listing on the Dar es Salaam Stock Exchange would enable Tanzanians to take a stake in and benefit from the lucrative industry that is the fastest expanding sector in East Africa’s second biggest economy.
“We are past the deadline. We can’t continue to haggle forever,” said January Makamba, the deputy minister. “It is not that we are to negotiate a possibility of not listing,” he said. “At some point in the near future we will make a determination that the discussions that have taken place over the past year are sufficient.”