By Amini Nyaungo.
Tanzania’s Simba SC members have agreed to floating shares on the stock market in order to raise capital seemed to be the preferred move for many football clubs.
Simba SC will be the first Club in East and Central Africa to list shares at stock market.
More than 1,216 Simba SC members have also agreed that the club will remain with 50% while the other percentages will go to investors.
“The investor will be required to provide 20bn/- of the 50% and the club members must invest 20bn/-. Due to the members of the club do not have enough financial resources, they will have to contribute only 4bn/- only a 10% from their 50% then 40 billion will reserved for listed at capital market” Simba SC said.