Barclays Bank of Tanzania has become the first bank to provide custodian services for international and domestic institutional investors in Tanzania.
Barclays will be providing a full range of custodial services including settlement, safekeeping, income collection and market intelligence to institutional investors participating in this frontier market.
The Dar es Salaam Exchange (DSE) has just celebrated its 10th anniversary, having first opened its doors for trading on 15 April 1998.
“Barclays presence as the first custodian in the market will play a significant role in the development of our market. We are delighted to have Barclays support and commitment,” says Jonathon Njau, CEO, Dar es Salaam Stock Exchange.
Barclays provides services to global custodians, fund managers, prime brokers and institutional investors across a network that now covers 16 African markets.
“We are extremely pleased to be able to support our clients’ investment interest in this market,” says Rished Bade, managing director, Barclays Bank of Tanzania. “Our opening in Tanzania once again demonstrates our commitment to work in partnership with the region’s developing markets,” adds Chris Wooldridge, head of Securities, Barclays Emerging Markets.