Govt amends law to allow access to IPOs

DODOMA, Tanzania

In an unprecedented move, the government is amending the Electronic and Postal Communication Act (Epoca) 2010 with a view to allowing diverse investors take part in Initial Public Offerings (IPOs) for Telecommunication companies.

The Act, which was amended in the Finance Act, 2016 requires telecommunication companies to offload 25 per cent of their shares to Tanzanians only via IPOs and so far, it is only Vodacom Tanzania Public Limited Company (PLC) that has completed the IPO process though, it has remained mum on the outcome.

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