TCCIA Investment Company is expecting to list its share on Dar es Salaam Stock Exchange (DSE) in the next three months after shareholders endorsed the move.

TCCIA Investment Chairman Eng Aloyce Mwamanga told the 'Daily News' that the entire process was going on well and the listing is expected to be done in September or October, this year. "We now wait to meet with relative key persons who deal with listing procedures, such as brokers and bankers, to complete the process," he said.

Eleven years ago, the company had capital base of almost 2bn/- which increased to reach 33bn/- at the end of 2014/15 financial year. TCCIA, operates a collective investment scheme, so far has over 2,500 shareholders.

Its investment portfolio is largely consisting of shares issued by listed firms on DSE. Mr Mwamanga said "we hope the listing would be conducted in September and if there are some delays then October (this year).

" The Capital Markets and Securities Authority (CMSA), Public Relations Manager, Mr Charles Shirima, said TCCIA are yet to log formal application but had made some enquiries. "They are welcome to either list the same or additional shares depending on their strategies," Mr Shirima said.

In March 2005, TCCIA reissued 14,000,000 shares representing 35 per cent of its authorised share capital at a price of 250/- per share. Prior to this re-issue, the firm, made a split of its par value from 1,000/- to 250/- per share.

Meanwhile, TCCIA Investment has recorded a slightly net profit slowdown by 28 per cent to 394.92m/- at the end of last year. The Chairman attributed the profit slowdown to plummeting of share prices at the bourse which affected earnings.

"We have mostly invested into listed companies and share prices are sliding to affect our earnings," Eng Mwamanga said. Most mutual funds are regarding share price gain or loss as an income or loss which is reflected in their financial reports.

The profit slumping has affected the earnings per share that went down to 69/44 at the end of last year from 96/52 of 2014, dividends also declined to 34/72 from 48/26 while dividend yield dropped to 13.89 per cent from 19.3 per cent. TCCIA is a private sector association established in 1988.

The establishment geared to move from a centralised, planned economy towards a more open, mixed economy giving full scope to privately owned enterprises and farms.