Tanzania Seen Luring IPOs as State Scraps Foreign Caps
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Tanzania, which has Africa’s best-performing stock market, lifted controls on foreign-share ownership, making it more enticing for companies to consider initial public offerings.
The removal of restrictions on foreigners owning more than 60 percent of companies that trade on the Dar es Salaam Stock Exchange was published in a Government Gazette dated Sept. 19, Charles Shirima, spokesman for the Capital Markets and Securities Authority, said by phone today from the commercial capital, Dar es Salaam. Investors from the East African Community will also be allowed to buy as much as 40 percent of Tanzanian government securities, he said.