DSE advises govt to list Airtel Tanzania shares, paper says

The Dar es Salaam Stock Exchange (DSE) has advised the government of Tanzania to offload part of its equity stake in local mobile operator Airtel Tanzania and have it listed on the bourse, Telecompaper reports. The chief executive of the DSE, Gabriel Kitua, is quoted as saying that the government should show willing that it is prepared to drive market participation in the country’s stock market by selling off a minimum 25% of its 40% stake to the public. Kitua claims that the move would not only allow more people to hold shares in profitable companies, but would also stimulate the African nation’s economy. The DSE is planning to run an awareness campaign in February, adding that recent legislation that allows telecoms operators to list their shares on the stock exchange has arrived at the right time.