{"id":84593,"date":"2015-04-09T10:56:48","date_gmt":"2015-04-09T08:56:48","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=84593"},"modified":"2015-04-09T11:06:47","modified_gmt":"2015-04-09T09:06:47","slug":"vodacom-facing-pressure-to-list-in-tanzania","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/84593\/vodacom-facing-pressure-to-list-in-tanzania\/","title":{"rendered":"Vodacom facing pressure to list in Tanzania"},"content":{"rendered":"
\n

Tanzania’s government is forcing telecom companies operating in the country including Vodacom, to list on Dar es Salaam Stock Exchange, and says that the deadline to do so has already passed, at the end of March.<\/p>\n

According to a report by the Dow Jones Business News, the three major mobile operators in Tanzania – Vodacom, Tigo and Airtel – will be listed on the local bourse before the end of the year.<\/p>\n

The government wants the people of the East African country to share in the profits of large multinational companies. The law reportedly requires local shareholders to own at least 35% of the businesses listed on the local exchange.<\/p>\n

The government already owns 40% of Airtel.<\/p>\n

“We are past the deadline. We can’t continue to haggle forever,” January Makamba, the deputy communication, science and technology minister, told The Wall Street Journal.<\/p>\n

“It is not that we are to negotiate a possibility of not listing,” he said.<\/p>\n

“At some point in the near future we will make a determination that the discussions that have taken place over the past year are sufficient.”<\/p>\n

Big companies listing on the Dar es Salaam exchange would boost the value of the bourse, the deputy minister said, however, the telcos have argued that a listing could undervalue their companies.<\/p>\n

Makamba told WSJ that those operators that fail to comply could face penalties and even have their licenses revoked.<\/p>\n

Vodacom told WSJ that talks were ongoing. “We’re engaging with the authorities in Tanzania on the listing issue…I can’t comment further at this stage,” a spokesperson said.<\/p>\n

Vodacom has approximately 11 million subscribers in Tanzania, the operator’s biggest market outside of South Africa, and the biggest operator in the country.<\/p>\n

More on Vodacom<\/h3>\n

Vodafone \u2018open\u2019 to government stake in Vodacom<\/strong><\/a><\/p>\n

Vodacom loses subscribers in SA<\/strong><\/a><\/p>\n

Vodacom bids for Tanzanian telco: report<\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A deadline forcing telecom firms operating in Tanzania, including Vodacom, to list on the Dar es Salaam Stock Exchange has passed.<\/p>\n","protected":false},"author":10,"featured_media":38329,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2555,26,2554,27],"class_list":["post-84593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-airtel","tag-headline","tag-tigo","tag-vodacom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/84593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=84593"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/84593\/revisions"}],"predecessor-version":[{"id":84603,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/84593\/revisions\/84603"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/38329"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=84593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=84593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=84593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}