Wednesday, May 31, 2017

Companies listed on must obey laws: DSE

DSE chief executive Moremi Marwa

DSE chief executive Moremi Marwa 

By Rosemary Mirondo @mwaikama

Dar es Salaam. Companies listed on the Dar es Salaam Stock Exchange (DSE) have been told to comply with laws and market regulations.

DSE chief executive Moremi Marwa said during the Sustainability Reporting and Compliance Forum here yesterday adherence to continuing listing obligations brings harmony to the stock market.

It also prevents the establishment of a false market of the listed companies.

According to him, true information enables shareholders to appraise

positions of the companies based on their true pictures, which are approved by the bourse.

His comments come hard on the heels of a government report, which accused

Acacia Mining of under-reporting the mineral content in its exports.

The government also vowed to maintain its ban on exports of gold and copper concentrates.

An investigation by President John Magufuli’s committee found that the value of minerals within Acacia’s concentrates in containers at the Dar es Salaam Port was more than 10 times the declared amount