Tanzanians urged to buy shares in the National Investment Company

The National Investment Company Ltd (NICO) Company’s board chairman, Felix Mosha told Tanzanian Media that his company intends to sell new shares to the public. The move comes after a recent injection of a total of TZS 5bn in a fish processing facility in Mwanza Region.

The National Investment Company plans to sell shares to Tanzanians with a view of raising capital. It is expected that the fish processing factory, due to start production next February, will be a source of revenue for shareholders and the company in the near future. NICO intends to sell 50 million shares worth TZS 1.5 bn. According to Mr Mosha, the shares would be sold at TZS 300 each at the NMB, CRDB, Exim, FBME and CBA banks. The shares would also be sold at all post offices and at the Dar es Salaam Stock Exchange. “People should not hesitate to continue buying the company’s shares even if the 50 million shares are all bought,” Mr Mosha said. NICO currently has 25,000 shareholders and the number is expected to increase following the issuing of new shares.

Please note that this blog has moved to its own website on www.tradelinkafrica/blog please visit us at that address for better coverage of Africa business information and opportunities.