John Magufuli pushes for listing of mining firms

Tanzania President John Magufuli. (Photo: Courtesy)

Tanzania will enforce a new rule requiring mining companies to list on its bourse by August, President John Magufuli said, as part of measures aimed at increasing transparency and spreading wealth from the country’s natural resources.

Major foreign-owned mining companies in Tanzania that will be affected by the requirement to list on the Dar es Salaam Stock Exchange include Acacia Mining, AngloGold Ashanti and Petra Diamonds. “By listing these companies on the stock exchange, we will be able to monitor how much (revenue) they actually get,” Magufuli said in a television programme aired by local stations late on Tuesday.