
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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