Mobile Trading in Tanzania Increase by 200%

DSE Tanzania mobile trading growth in Q1 2016

Stock trading at the Dar Es Salaam Stock Exchange (DSE) via mobile phones has increased to 3,000 users thanks to a new mobile trading platform.

Moremi Marwa, CEO of DSE, indicated in the bourse’s quarterly note for Q1 2016 that the number of investors trading via the mobile platform of the exchange increased by 200%, from 1,000 in Q4 2015.

DSE introduced mobile trading in August 2015, together with Maxcom Africa (MaxMalipo), to allow individual mobile telephone users in Tanzania to register onto the stock exchange and purchase shares at DSE.

Currently, about 400,000 investors trade at DSE. DSE expects the number of mobile users to increase as its mobile platform gains popularity.

Currently, 23 companies are listed at DSE with a total market capitalization of TZS22,044.83bn.

Government-owned Tanzania Postal Bank (TPB) is expected to list at DSE.

In July 2015 the Parliament passed the Tanzania Postal Bank (Repeal and Transitional Provisions) Act, 2015 which paves the way for the bank to raise funds from the public by listing at DSE.