TOTAL sale of shares and corporate bonds has significantly increased last year. According to the Capital Market and Securities Authorities (CMSA), the sale of shares went up by 68.5 per cent, hence reaching 225.2bn/- by December last year compared to 133.7bn/- recorded by December 2022.
On the other hand, the sale of corporate bonds increased by 29.4 per cent reaching 3.9tri/- by December last year compared to 3tri/- recorded in December 2022.
CMSA Chief Executive Officer Nicodemus Mkama said in Dar es Salaam on Tuesday that Tanzania has kept a record of achievements in the capital market development last year whereby new products in the public and private sectors were endorsed and registered on the stock exchange.
Mr Mkama noted that the newly introduced products include green bonds, social bonds and Sukuk bonds. “This has put Tanzania on the map of the global capital markets with new products that lure investors,” he said when addressing stakeholders at a meeting for evaluation of capital markets trends in 2023.
Mr Mkama attributed the achievements to the country’s enabling environment, participatory and sustainable policy and laws made possible by President Samia Suluhu Hassan.
The pioneered economic diplomacy and international relations under President Samia have been catalysts for positive results.
Mr Mkama further noted that the value of investments also increased by 10.1 per cent, reaching 37.4tri/- for the period ending 2023, compared to 33.9tri/- reached for the period ending December 2022.
Explaining the 2024/25 plans, he said, the authority looks forward to ensuring that the draft guidelines for sustainability bonds are completed and submitted to the Finance Ministry for endorsement before being published in the Government Gazette for implementation.
The authority also plans to implement a strategy of public awareness over opportunities and benefits available in the capital markets, including distributing publications in newspapers, engaging in television and Radio interview programmes and so on.
Mr Mkama also said the authority will further be providing guidelines for the management of new and innovative products and services in the markets.
Furthermore, the authority will further strengthen the use of technology in the provision of services in the capital markets, whereby it has planned to improve digital systems.
