Yetu Microfinance became the first microfinance in the country and East Africa to be listed in the Dar es salaam Stok Exchange (DSE).
Dr. Ashatu Kijaji, Deputy Minister for Finance and Planning at the launching event said, “the government is ready and would continue to work with the Capital Markets and Security Authority (CMSA) and DSE to address challenges to ensure that more firms, particularly small and medium go public.”
Ms Nasama Massinda, The CMSA Chief Executive Officer, said “CMSA believe that listing of Yetu Microfinance on DSE will act as the catalyst for shareholders and board of directors of other well running companies to consider issuing securities and listing their firms on the exchange.”
Mr Altemius Milinga, Yetu Microfinance Managing Director, said “46 per cent of the Yetu Microfinance customers come from the rural areas and the number has increased when the news of going public broke out.”
“Yetu Microfinance sold 6,223,380 shares at the price of 500/- and managed to raise 3.1bn/- collected from 14,273 subscribers. The proceeds from the IPO will be used to broaden shareholding structure and enhance the capital base.” He insisted.