Dar es Salaam. Organisers of the Top 100 mid-sized companies survey engaged some of last-year’s winners and tipped them on how they can raise long term financing through capital markets.
The Dar es Salaam Stock Exchange (DSE), one of the three-year old survey sponsors, took the participants through the requirements of listing on the newly established Entreprise Growth Market, a special window for listing Small and Medium-sized (SMEs)companies.
DSE chief executive officer Moremi Marwa advised SMEs to opt for bourse whenever they wanted to expand their capital instead of borrowing from commercial banks which mostly offer short term financing services.
“There is a lack of investment banks in Tanzania and therefore DSE is the best source of long term financing for those of you who wish to expand their business,” said Mr Marwa.
“The trend of government securities shows that liquidity is there but knowledge is lacking. We are also optimistic that on-going reforms in capital markets will make it more active,” he added.
Top 100 survey is an initiative of Mwananchi Communications Ltd (MCL) and KPMG Tanzania to identify the country’s fastest growing medium sized companies, showcase business excellence, as well as highlight some of the most successful entrepreneurship stories in the country.
MCL chief operations officer Francis Nanai stressed the importance of SMEs and the private sector in general as he opened the forum which brought together many companies.