CMSA reviews Vodacom’s application for listing on DSE

SYLIVESTER DOMASA

CAPITAL Markets and Securities Authority (CMSA) is reviewing a draft prospectus of Vodacom Tanzania to establish compliance on disclosure and risk factors prior to the firm’s listing.

The telecommunication firm announced yesterday that it plans to go public through the Initial Public Offer (IPO) on the Dar es Salaam Stock Exchange (DSE), with the regulator saying the submission will pass-on a systematic review process for effective compliance.

“We are pleased to announce that we have filed our application and draft prospectus for consideration by CMSA. This document sets out our proposals on the structure and timetable for the listing,” said Vodacom Tanzania’s Managing Director Ian Ferrao.

The move by the telecom firm heads the requirements of the Electronic Postal and Communications Act, as amended by the Finance Act 2016, to have all telecommunications licensees issuing 25 per cent of their shares on the stock market.

CMSA Spokesperson Charles Shirima told ‘Daily News’ in Dar es Salaam that Vodacom Tanzania was the first local telecom firm to submit application to avail Tanzanians with the opportunity to own the company.

“Almost all telecom firms have inquired on the Tanzania is among the EAC countries working towards the safer airspace in line with the International Civil Aviation Organisation plan through investing in implementing the Aviation System Block Upgrades (ASBU). In a speech read on his behalf by EAC Director of Infrastructure Philip Wambugu, Ambassador Mfumukeko said EAC was currently the lead in matters of civil aviation, thanks to collaborative projects and programmes by the partner states.

“EAC acknowledges the great support by China Civil Aviation Administration during the MA 60 Aircraft Type certificate acceptance procedures and the continued support to Burundi CAA to meet its safety and airworthiness obligations,” he said.

According to him, the type acceptance and certification of the MA 60 aircraft opens the doors for EAC and China to expand their cooperation in the aviation sector through various avenues including technology transfer, purchase and lease.