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Foreign investors locked out of Tanzania telcos’ share sale
A trader at the Dar es Salaam Stock Exchange. Tanzania’s eight telcos are racing to comply with a new law, which demands that they issue at least 25 per cent of their shares on the bourse. PHOTO | FILE
Foreign investors, including Kenyans, will be locked out of the upcoming initial public offerings (IPOs) of Tanzania’s privately-held telcos, including Vodacom, Tigo and Airtel, which must list on the Dar-es-Salaam bourse under a new law.
Orbit Securities, a licensed stock broker in Dar, told the Business Daily that the planned public offerings for mobile telephony companies will be limited to Tanzanians, according to guidelines from the capital markets regulator.
