Tanzania lifts ban on foreigners investing in telecom IPOs

DAR ES SALAAM, June 30 (Reuters) – Tanzania has lifted the banning on foreign investors participating in initial public offerings in the telecoms sector, the capital markets regulator said on Friday.

The removal of the restriction allows foreigners to take part in the IPO of Vodacom Tanzania Plc, a subsidiary of South Africa’s Vodacom Group.

The Vodacom IPO was launched in March and initially only open to local investors, but take-up has been sluggish amid concerns over adequate liquidity in the local market. (Reporting by Fumbuka Ng’wanakilala; Writing by Katharine Houreld; Editing by Louise Ireland)

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