Iringa
Region Commissioner (RC), Amina Masenza has urged citizens to avoid rush into investments
that will entice them to make money quickly.
She said the
situation often leads to people losing their money and engage in trade and investments
that is unfair and sometimes find them break the law to join an illegal pyramid
schemes games and lose their money.
RC gave a
speech yesterday at the opening of a seminar for members of the development
institution for the deaf Tanzania (TAMAVITA) about participation and investment
in capital markets Tanzania (CMSA).
The seminar
was organized by the authorities of the capital markets and securities (CMSA).
She said that illegal pyramid is illegal and what is forbidden.
She also urged
participants to use the education of the
workshop and used it as light to see investment opportunities available
in the capital markets industry.
So identify
appropriate investment and avoid inappropriate investment such as illegal
pyramid schemes, eg dollar jet, Deci, and other that happen in this country.
She said
that the government's intention to withdraw from the ownership and operation of
the public companies is to provide opportunities for its citizens to own a
company that previously were under the control of the government.
"Among
the steps taken by the government is the establishment of the authority of
capital markets and securities as the chief administrator of the system of capital
markets," said Masenza.
She
said that the government through its agencies like CMSA is careful in check and
ensure all Tanzanians gets the opportunity to participate in capital markets
system and its interests are protected in most pressing legal procedures and
insufficient trade without bias.
In addition,
RC also applauded the leadership of the authorized capital and guarantees (CMSA)
to prepare and conduct seminars and noted that it is not only members of the association
of the deaf that are interested to learn, but also businessmen, workers,
academics and many citizens still the concept of investment in the capital
markets is unknown to them.
For his
part, the development manager of capital markets in Tanzania, Nicodemus Mkama
implied that the aim and purpose of the seminar is to provide education for
institutional development for deaf Tanzania (TAMAVITA) to become ambassadors
who will be used to provide education to their members.
He said that
TAMAVITA has members over one million and branches across the country, so participants
of workshop will be serve as ambassadors and take thee education about the
concept of investment in capital markets to each other.
Also, he
said that the capital markets allow investors to benefit in many ways such as
saving for the future adding that buying shares is invest later use.
Another advantage
is to facilitate ownership of public companies with shares that can be
mortgaged to get a loan.
He said this
is another good profit for shareholders to use the certificate of ownership of
shares as a pledge to get loans in financial institutions.
Even so, as
he said that this is the second seminar for members of the deaf in Tanzania
after the seminar of concept of investment in collective investment schemes for
members of the deaf development institutions held in Songea in Ruvuma this
month.
He said that
despite the challenges faced by the disabled to capture the awareness of
investment opportunities in the capital markets but that will contribute to the
growth of output of each and the national economy at large.
The Capital
Markets and Securities Authority (CMSA) were founded in 1995 by an Act of
Parliament No. 5 of capital markets and securities in 1994.
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