Dars Es Salaam
Tanzanian Brewer to Start Trading Shares in Dar es Salaam
(Updates with comments from the Stock Exchange of the third paragraph.)
July 12 (Reuters) - Diageo Plc East African Breweries Ltd unit plans to sell its stake in Tanzania Breweries Ltd on the Stock Exchange of Dar es Salaam Stock within the next two months, said Gabriel Kitua, director of the Stock Exchange Executive .
East African Breweries, based in Nairobi, may sell its 20 percent in Tanzania Breweries, the local unit of SABMiller plc, by about mid-August, said by phone today Kitua from Dar es Salaam , the commercial capital of Tanzania.In June, Tanzania has approved the purchase of the Kenyan brewer a 51 per cent in the Serengeti Breweries Ltd., provided that we then sell its 20 percent in Tanzania Breweries.
"We work in the final schedule with regulators, but expect to launch the offer in the near future," the spokesman Serengeti Teddy Mapunda wrote in an e-mail response to questions on July 5.
Precision Air Services Ltd, a Tanzanian airline, can also hold its first public offering in September, Kitua said. “We aren’t in position to give the exact dates yet,” he said.
Precision Air would be the first company in the transport industry to be listed on the Dar es Salaam Stock Exchange. The bourse currently has 15 listed companies, after delisting National Investment Co. this month, according to its website.
Other companies that may start trading their shares on the bourse this year include National Bank of Commerce Ltd., a unit of Absa Group Ltd., Peter Machunde, a member of the exchange’s board, said on March 8.
NBC’s listing is still being discussed by shareholders and hasn’t reached management level yet, Managing Director Lawrence Mafuru said on April 29.
--Editors: Alastair Reed, Philip Sanders.
Dars Es Salaam - News
By Fumbuka Ng'wanakilala DAR ES SALAAM (Reuters) - A senior lawmaker from Tanzania's ruling Chama Cha Mapinduzi, or Party of the Revolution, who was once in President Jakaya Kikwete's inner circle, has quit his seat amid accusations of graft.
By David Malingha Doya July 12 (Bloomberg) -- Diageo Plc's East African Breweries Ltd. unit is expected to sell its stake in Tanzanian Breweries Ltd. on the Dar es Salaam Stock Exchange within the next two month, said Gabriel Kitua, the bourse's Chief
By The guardian reporter Red Sea football players from Eritrea have surrendered to the Ministry of Home Affairs in Dar es Salaam seeking refugee status after three days of dodging their Asmara-bound return flight. A statement from the ministry released
By The guardian reporter Tanzanians have been urged to join the Lions Club of Dar es Salaam (Host) to add on to ongoing efforts geared to implementing various projects meant for the needy in the city. The call was made yesterday in Dar es Salaam by
By The Citizen Reporter & Agencies Dar es Salaam. Tanzanian authorities are holding 13 Eritrean players for questioning after they failed to return home and decided to seek asylum after the just concluded Cecafa Kagame Cup tournament.
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