BUSINESS TECHNOLOGY MEDIA FOR AFRICA

SA firm upgrading Tanzania stock exchange’s technology

SA firm upgrading Tanzania stock exchange’s technology
Staff Writer
By Staff Writer, ITWeb
04 Apr 2014

South African firm Securities and Trading Technology (STT) has won a contract to supply Tanzania’s Dar Es Salaam Stock Exchange (DSE) with integrated trading, clearing and settlement technology.

The DSE, which started operations in 1998, has a current total market capitalisation of $11 billion from 18 listed companies. Bonds listed on the bourse are also worth more than $2 billion, while the current number of investors at the DSE is about 185,000, according to an STT press statement.

Meanwhile, STT was founded in 1985 and describes itself as a company specialising in the development of leading financial market software solutions for South Africa as well as worldwide.

The value of the deal between STT and DSE; though, has not been revealed.

"Tanzania is a dynamic and fast developing market and we look forward to working with the DSE to upgrade their technology," said Michelle Janke, managing director of STT, in a press statement.

Moremi Marwa, the chief executive officer of the DSE, added: "We are delighted to partner with STT in our endeavour to transform our exchange into being a focus for enterprises and government long term fund raising and a vibrant platform for value and liquidity creation to investors.”

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