ORBIT – An Introduction
Orbit Securities Company Ltd. (ORBIT) is a Company incorporated in Tanzania in the year 1996 and carries the distinction as one of the founding members of the Dar es Salaam Stock Exchange (DSE). ORBIT is a duly licensed Stockbroker/Dealer, Investment Advisor and Fund Manager. The Company is also licensed by the Bank of Tanzania [BOT] as a Primary Dealer trading in Government Securities.
ORBIT is a leading Stock broking firm at the DSE commanding the majority market share among all the players. ORBIT team, which brings together expertise in the areas of Fund Raising, Equity Research, Investment Advisory, Corporate Finance, Economics, Accounting, Project Finance, Project Management, and other associated fields, is an ideal place where we render a host of financial services to our valued clients.
THE CORE PRINCIPLES BY WHICH WE CONDUCT OUR BUSINESS ARE:
- We intend to create leadership in developing the Tanzanian Capital Markets industry for the benefit of all stakeholders;
- We intend to continue be the leading brokerage firm in Tanzania under both equities and bond market;
- We value all our business relationships and leverage on them to ensure that our Clients benefit from our knowledge, skills, expertise and business network;
- We are committed to good corporate governance, high quality professional services and thrive on integrity and honesty, all to achieve best value for money.
EXPERIENCE & ACHIEVEMENTS:
- Resource Mobilization: Experience in resource mobilization by sponsoring Initial Public Offerings (IPOs), Right Issues, Bonds Issues and facilitate their listing at the Dar es Salaam Stock Exchange [DSE].
- Cross Listing of Shares: Experience in Cross-listing of Shares at Dar es Salaam Stock Exchange [for companies which are listed overseas e.g. at Nairobi Stock Exchange] and vice versa i.e. facilitating cross listing of locally listed companies at an overseas Stock Exchange.
- Sponsoring Broker and Lead Advisor: As at 30th June 2014, ORBIT sponsored eight of the seventeen Companies listed on the DSE main market board including four cross-listing namely Kenya Airways, East African Breweries, Jubilee Holdings Ltd., and Kenya Commercial Bank. The local listings that were sponsored by ORBIT and highly over-subscribed ones are: Tanzania Cigarettes Company [TCC], Tanzania Portland Cement Company [TPCC] and CRDB Bank Plc [CRDB]. ORBIT was also Sponsoring Broker of Precision Air Services Ltd. IPO listed on the DSE on 21st December 2011. Again ORBIT was appointed Lead Adviser and Sponsoring Broker for East African Breweries Ltd. (EABL) sale of 20% shareholding in Tanzania Breweries Ltd. (Tshs. 121.5 billion) through a public offer which was highly over-subscribed and facilitated listing of the offered shares on the DSE in January 2012.
- Placement of Bonds: Among others, ORBIT was Co-Arranger (along with Barclays Bank Tanzania Limited) for five year bonds (three tranches) worth Tshs. 30.0 billion and the third tranche of TShs. 10.0 billion was placed in October 2006.
- Distribution of Financial Products: In May-June, 2005 ORBIT also participated as Receiving Agent of Umoja Fund Scheme launched by Unit Trust of Tanzania (UTT) and successfully raised Tshs. 18.2 billion (from 1,487 investors) out of the TShs. 72.4 billion total amount allotted thus taking 25.1% of the market share. UTT’s Umoja Fund is the first Collective Investment Scheme to be established in Tanzania. Currently, UTT has five Collective Investment Schemes and ORBIT act as an authorized Collecting Agent under all these Schemes [during initial offer as well as subsequent sale period].
- Training: Experience in conducting relevant Capital Market courses to cater for the needs of the fast growing Financial Markets in Tanzania.
- Technology Driven: ORBIT is the first Stock-brokerage firm on the DSE to have their Back Office Operations and Database Management fully computerized.
- Skilled Manpower: ORBIT invested heavily on developing human capital and has a dedicated team to provide professional services to our clients.
- Strong Client Base: ORBIT’s has a mixed client base which includes large Institutional Investors [Pension Funds, Bank], Corporate Bodies, high net worth individuals and small retail investors.
- Wide Distribution Network: ORBIT has developed a large local agency network that covers for the moment presence in the city of – Mwanza, Arusha and Bukoba in Tanzania.