Kikwete Spoke to NYSE Officials

Have you ever heard of Dar es salaam Stock Exchange (DSE)? Unlike New York Stock Exchange(NYSE), DSE has only nine companies listed. This is a good start. President Kikwete has a mission to improve Tanzania's economy. On his Business Mission to USA spoke to New York Stock Exchange officials and expressed the need for them to assist DSE. "They agreed to look at the possibilities of assisting our stock exchange," he said.

DSE is at its early stage of development and really needs support. How will NYSE assist? Well, it is still unknown but president Kikwete expressed hope on his national address after his trip to USA.

NYSE can assist DSE in many ways such as modern trading technologies and stock market experts. Since NYSE enjoys stable US economy, what is the future of DSE? Well, it is tough to answer this question especially when our capital market is not stable and when the country has other more important issues to deal with before concentrating on DSE. DSE needs capital financing so do education, electricity, food and clean water. With nine companies listed, DSE processes are not yet automated. The automation exercise is expected before the end of this year according to some sources.

To develop DSE, we should expect its officials to visit developed world as part of learning and exposure that Kikwete believes will be very helpful. Well, some critics are concerned with Kikwete's government spending on trips abroad. I personally think that exposure to developed world is what made us think the way we think today. How much of that exposure is needed and at what cost? Well, we all pay the price for the good stuff so do the govenment. I am with Kikwete on this matter and I am sure in the course of time, the economy will tell. Although it is too early to speak about results, Kikwete's trips are yielding positive results. For results, Stay tuned!

If power rationing continues, will the automated Dar es Salaam Stock Exchange operate to its full potential? If yes, will companies listed in DSE maintain stable performance?. Again, the power issue is being addressed and I hope the solution is underway.

With Kikwete's commitment for economic change, many issues are at hand and all need his attention; food shortage, power shortage, Water shortage, education and corruption. One great thing Tanzanians have in mind, is faith in their leader. Kikwete's beginning has seemed so promising. Let the beginning continue to the end of his term.

Mtanzania, Jacob Kashimba.