Mkuu Mtanganyika, sasa hapa ndipo watu kama nyinyi wenye exposure mnatakiwa kuisaidia nchi, lazima nikiri, kwenye biashara za kimataifa au biashara za uchumi mkubwa, Watanzania bado tuko nyuma sana. Kuna maswali mengi najiuliza kuhusu hii due diligence, kama ilifanyika kweli, TOL na Niko watu wasingeingizwa chaka!. Niliwahi kuuliza kwenye soko kuu, kwa nini brokers ni sita tuu?, bado sijapata jibu hivyo Mr. DSE akiripoti, nitaliuliza hili.
CMSA waliotoa nafasi za nomads, the response was very poor kwa Watanzania, bado sijajua situation as is now, ila nafuatilia kwa karibu.
Please tusaidie if we can learn anything from AIM ili tuisaidie EGM yetu!.
Pasco.
Mkuu kwanza nataka kusema hivi bureaucratic ambayo iko DSE ndio inachosha watanzania wengi wenye experience na mambo haya. Due Diligence process sio kitendo cha ubabaishaji, kwa kampuni kuna mambo lazima uangalie, kwanza Financial Statements ambazo ziko audited na credible financial firms na wametoa clean opinions.
Kama kampuni ni uzalishaji lazima uchunguze process zake za uzalishaji, management need to disclose mapato yao, lazima ujue vendors wote ambao kampuni iko nawo, vendor yoyote ambaye ni family members you need to disclose.
Any patents and trademarks lazima ziwe disclosed, technical roadmap hii kuonyesha future plans kama capital investments, Market Surveys and Competition analysis, lazima market itazamwe na washindani wa kampuni waangaliwe. Kingine muhimu sana ni Commercial Pipeline hapa ndio important things like future sales, commitments for potential sales.
Tukubaliane kwamba Tanzania kuna ukiritimba kwenye hii sector, wengi wanaofanya kazi kwenye DSE hawana knowledge with stock market, ndio maana mpaka leo hatuna commodity market while 70% ya Tanzania depends on commodities. Mimi niliwai kusema kwamba huko nyuma Watanzania wanazo surplus lakini DSE inashindwa kucapitalize.
Wengi walikuwepo pale DSE hawajui hata how stock market works, they have no knowledge. Huwezi kuwa na market ambayo trading volume ipo constant, lazima trade volume iongezeke. How unaongeza trading volume ni kwaku encourage many companies kuachana na Debt Finance (Very Popular in Tanzania) kuja kwenye equity Finance.
Kampuni kama Azam need to list at least 20% of the total ownership, IPP Media and many other. It is responsibility of DSE kuelekeza hizi kampuni that equity finance is cheaper than debt finance and less risk.
Kingine waliotunga sheria ya uwekezaji Tanzanai hawajui hata how NYSE works. Tukubali baba wa masoko ya shea ni New York Stock Exchange, na wapo wadau wengi wakitanzania wanaofanya kazi Wall Street ambao wanafahamu what is needed kuongeza liquidity kwenye DSE.
Lazima tutunge upya sheria za uwekezaji kwenye DSE. Haya mambo ya kusema sijui unaitaji 5 years of positive net income ili uweze kulist kwenye soko la mitaji that is insane, if I have 5 years of cash flow positive why bothered kuja kwenye DSE while each bank loves me?
I support the idea ya kuanzisha AIM, lakini hii lazima iende parallel na kutunga sheria yenye akili itakayo shawishi individual/bank/Finance institutions nyingi Tanzania kuwekeza kwenye NOMAD.
Sababu Nomad ndio anaye fanya due diligence, yeye ndie mentor wa hizi kampuni, yeye ndio anawasaidia jinsi ya kunadika business proposal, jinsi ya kuvets the idea, yeye ndie anawapeleka mbele ya potential investors wakubwa.
2011 i help kampuni moja ya maji taka (Headworks Inc), a USA entity kujilist kwenye London AIM, process yake sio complicated and costly kama ilivyo New York Stock Exchange. Lakini the vetting process is hard as anywhere else. In the end they didnt secure the deal sababu sales forecast zao zilikuwa too weak.
Tanzania needs a new policies in Stock Market and Private Equity. Potential Investors bado wamekaa na pesa zao au wanawekeza kwenye wazimu.