Capital markets investment value up by 23pc

DAR ES SALAAM: CAPITAL markets investment value has increased by 23.2 per cent as of last month compared to the amount recorded in April last year.

New records reveal that the investment value has reached 43.4tri/- as of April this year compared to 35.2tri/- recorded during the corresponding period previous year, according to Chief Executive Officer of the Capital Market and Securities Authority (CMSA), Mr Nicodemus Mkama.

Mr Mkama attributed the growth to the implementation of government’s plans and strategies which has brought positive results in the development of the financial sector, especially the capital markets.

Mr Mkama further noted that sales of shares and bonds have also gone up by 64.5 per cent, hence reaching 4.2tri/- by April this year from 2.5tri/- during the same period last year.

Also Read: Capital markets investment value up 31pc

On the other hand, the value of collective investment schemes has also increased by 44.7 per cent, reaching 2.1tri/- in the past one year from 1.4tri/- recorded in April, 2023. Mr Mkama stated this yesterday in Dar es Salaam at an event to officiate at the launching of the ‘Timiza Fund’.

The Timiza Fund is aimed at enabling small, medium and large investors to collectively mobilise funds for investing and benefit from the opportunities in financial sector, especially capital markets.

The Fund is run by Zan Securities Limited, which is the Fund Manager, while Mwanga Hakika bank is the custodian.

Chief Executive Officer of the Capital Market and Securities Authority (CMSA), Mr Nicodemus Mkama, said specific objectives of the Fund is to empower Tanzanians from different cadres, including the youth, women and special groups to benefit from the financial sector, building culture of saving and investing among Tanzanians to enable citizens to participate in economy.

Mr Mkama stated that in ensuring the objectives of the Fund are met, the CMSA has approved lowering the amount for participation in this Fund from 1m/- to 10,000/- only.

“This is a very important step for encouraging participation of investors from different cadres including lowincome citizens,” he said.

According to the policy and guidelines for investment in Timiza Fund, the monies to be mobilised from the investors will be invested in capital markets, including Listed Equities, Treasury Bonds and Corporate Bonds.