Dar es Salaam Stock Exchange to introduce three ICT products next year in Tanzania
Beside investing in bonds and shares, the Dar es Salaam Stock Exchange (DSE) is set to introduce a number of new products in a move to bolster the bourse and attract more actors.
DSE Finance and Administration Manager Mshindo Ibrahim told The Guardian in an interview this week that securities mortgage services product, central depository system (CDS SMS) services and provision of data vending services are among the new products lined up to start early next year.
This is a new system that would operate like NMB mobile services to allow customers to transfer money from one account to another, make purchases of airtime top-up vouchers and power (LUKU) and check account balance.
Explaining the Central Depository System, he said this is a new computer system designed to keep all investor’s data at DSE and help them access information directly through their phones of any movement in their CDS account free of charge.
Under the programme all shareholders and investors will access their accounts by purchasing and selling shares anywhere, monitor the movement of share prices as well as get information on dividend payments, he said.
“DSE has introduced this strategy so that we can help shareholders access information more easily instead of coming physically to the DSE. The other reason is to attract people to see what we offer so that they can purchase shares,” he said.
He said in future those accessing information via the system would be required to pay a fee to DSE to enable it to raise income for its activities. Ibrahim said the DSE was currently negotiating with the service provider on how to implement the programme.
He said the bourse has already trained qualified IT experts to supervise the system.
On the provision of data vending services, he said data vendors will access information in the DSE database at a fee.