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Tanzania’s Capital Market Executive Summary

Currently, the Dar es Salaam Stock Exchange (DSE) has 28 listed companies, including 22 domestic firms and 6 cross-listed companies.

Tanzania Capital Markets History

Tanzania’s Stock Exchange, the Dar es Salaam Stock Exchange (DSE), was established in 1996 as part of the government’s broader economic reforms aimed at stimulating a dynamic private sector to be the primary engine for economic growth in Tanzania.

The DSE started business on April 15th, 1998 to support the Tanzanian Government in privatizing parastatal entities in order to boost economic growth, reduce the number of non-performing parastatal enterprises, and eliminate budgetary support to them.

Tanzania Oxygen Limited (DSE:TOL) was the first state-owned company selected for privatization through the DSE.

After TOL’s initial public offering (IPO) at DSE on April 15th, 1998 Tanzania Breweries Limited (DSE:TBL) followed on September 28th of the same year.

Tanzania Cigarette Company (DSE:TCC), Swissport (DSE:SWIS), Tanzania Portland Cement Company (DSE:TPCC), Tanga Cement Company Limited (DSE:TCCL) and National Microfinance Bank (NMB) completed the list of 7 companies out of 330 shortlisted to be privatized.

Following these first state-driven listings, other private companies decided to list in DSE as a part of their corporate growth strategy to raise capital.

TATEPA, CRDB Bank, Precision Air, Maendeleo Bank, Swala Gas & Oil, MKOMBOZI Commercial Bank, and DCB Commercial Bank listed respectively on December 17th, 1999, June 17th, 2009, December 21st, 2011, November 4th, 2013, August 11th, 2014, December 29th, 2014, and September 16th, 2008.

DSE also counts with six cross listed companies: Kenya Airways (DSE:KA), East African Breweries (DSE:EABL), Jubilee Holdings (JHL), Kenya Commercial Bank (DSE:KCB), National Media Group (DSE:NMG), and Uchumi Supermarket (DSE:USL) from Kenya.

These companies decided to cross list mainly to earn a higher visibility and name recognition in the Sub-Saharan region and to access potential investors in different markets for future plans to raise capital, as it was declared by the companies’ CEOs at the listing moment.

The DSE has also managed to diversify financial instruments on the market with equities, derivatives, government and corporate bonds and Real Estate Investment Trusts (REITs) with the Watumishi Housing Company (WHC-REIT) which was the first REIT in East Africa.

The DSE launched its own IPO of 15m ordinary shares at TZS 500 per share on 16th May 2016. As of 9th September 2020, the DSE trades at TZS 890, an increase of 78%.

Tanzania Capital Markets Regulation

The Capital Markets and Securities Authority (CMSA) is a government agency established to promote and regulate securities business in Tanzania, that has been established under the Capital Markets and Securities Act, 1994.

The Act sought to establish the legal framework for the regulation of the securities industry that is supplemented by regulations promulgated by the Tanzanian Ministry of Finance.

Last Updated: 31st July 2023

DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
3 minute read

Dar es Salaam Stock Exchange Week 15 of 2026: Equity Turnover Contracts in a 3-Day Week as KA (+27.27%) and PAL (+18.68%) Lead as Best Stock Performers

During Week 15 of 2026, the Dar es Salaam Stock Exchange (DSE) experienced a pullback in overall equity, ETF, and bond trading activity, primarily due to a shortened three-day trading week in observance of Easter Monday and Karume Day. Total equity turnover dropped by -36.88% to TZS 13.88 billion, and share volume decreased by -6.39% compared to the prior week. The ETF market also saw a turnover decline of -21.52%, while the bond market contracted sharply by -62.72% to post TZS 29.12 billion in turnover. Despite the reduced liquidity, stock price movements were overwhelmingly positive, lifting all primary indices across the board. KA led the gainers by appreciating +27.27%, followed by PAL, which gained +18.68%.
April 11, 2026
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
3 minute read

Dar es Salaam Stock Exchange Week 14 of 2026: Equity Turnover Contracts in a Shortened Week as KA (+15.79%) and JHL (+7.45%) Lead as Best Stock Performers

During Week 14 of 2026, the Dar es Salaam Stock Exchange (DSE) experienced a pullback in overall equity and ETF trading activity, largely due to a shortened four-day trading week in observance of Good Friday. Total equity turnover dropped by -29.47% to TZS 21.99 billion, while ETF turnover plunged. Conversely, the bond market saw a slight recovery, posting TZS 78.11 billion in turnover. Stock price movements were broadly negative, pulling down the majority of primary indices, though KA led the few gainers by appreciating +15.79%.
April 7, 2026
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
3 minute read

Dar es Salaam Stock Exchange Week 13 of 2026: Equity Turnover Recovers, TPCC up by +4.73%

During Week 13 of 2026, the Dar es Salaam Stock Exchange (DSE) experienced a solid recovery in equity market trading, with both turnover and volume increasing significantly compared to Week 12. Total equity turnover grew by +14.38%, driven by consistent block trades and normal board activity, while bond market turnover plummeted by -77.54% following the previous week's highs. Stock price movements were generally subdued, with the primary stock indices recording slight declines except for the Industrial & Allied (IA) Index. TPCC led the week's few gainers by appreciating +4.73%.
March 31, 2026
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
3 minute read

Dar es Salaam Stock Exchange Week 12 of 2026: Bond Turnover Surges +70.70% as ETF Trading Spikes in a Cooling Equity Market

During Week 12 of 2026, the Dar es Salaam Stock Exchange (DSE) experienced a pullback in equity trading following the massive volumes of Week 11, while activity in the bond and ETF markets surged significantly. Total equity turnover dropped by -36.13%, but bond turnover climbed a staggering +70.70%. The primary stock indices recorded mixed results, with JHL leading the week's gainers by appreciating +15.00%.
March 22, 2026
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
3 minute read

Dar es Salaam Stock Exchange Week 11 of 2026: PAL Skyrockets +156.06% and TTP Surges +52.17% as Equity Turnover Hits TZS 42.68 Billion

During Week 11 of 2026 (March 9th – 13th), the Dar es Salaam Stock Exchange (DSE) witnessed intense trading activity and massive price appreciations in select counters. PAL was the market's biggest winner, skyrocketing by an extraordinary +156.06%, followed by TTP, which surged +52.17%. Driven by heavy trading in CRDB and DCB, Equity Turnover grew significantly by +42.31% to TZS 42.68 billion. Total Market Capitalisation expanded by +4.15% to TZS 34.52 trillion, supported by a strong +14.51% recovery in CRDB. The Banks, Finance & Investment (BI) Index advanced by +5.18%, and the bond market demonstrated robust liquidity, generating TZS 172.64 billion in turnover.
March 14, 2026
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
3 minute read

Dar es Salaam Stock Exchange Week 10 of 2026: DCB Surges +31.09% and ETF Turnover Soars Despite Broader Market Correction

During Week 10 of 2026, the Dar es Salaam Stock Exchange (DSE) saw positive momentum in select counters, with DCB leading the gainers by surging +31.09%, followed by TTP (+9.52%). The ETF Market also saw explosive activity, generating a massive TZS 8.37 billion in turnover. Despite these bright spots, the broader market experienced a correction, with Total Market Capitalisation falling by -4.31% to TZS 33.14 trillion, largely dragged down by a sharp -15.56% decline in CRDB.
March 9, 2026
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
3 minute read

Dar es Salaam Stock Exchange Week 9 of 2026: MCB and DCB Soar +33.80% and +23.96% as Market Navigates Two-Day Trading Disruption

During Week 9 of 2026, the Dar es Salaam Stock Exchange (DSE) experienced an unexpected shortened schedule due to technical challenges that halted trading on Tuesday and Wednesday. Despite the disruption, market sentiment remained aggressively bullish, pushing Total Market Capitalisation to a record TZS 34.64 trillion. While overall equity and bond turnover declined compared to Week 8, the indices surged, led by the Banks, Finance & Investment (BI) Index (+3.55%). MCB and DCB were the top gainers, skyrocketing by +33.80% and +23.96%, respectively.
February 28, 2026
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
2 minute read

Dar es Salaam Stock Exchange Week 8 of 2026: Equity Turnover Surges by +49.80%, MCB Skyrockets by +52.69%

During Week 8 of 2026 (February 16th–20th), the Dar es Salaam Stock Exchange (DSE) witnessed robust trading activity, with Equity Turnover surging by +49.80% to TZS 87.80 billion. The Banks, Finance & Investment (BI) Index continued its strong rally, gaining +7.77%. MCB was the standout performer, recording a massive +52.69% price appreciation. The Bond Market also saw a significant increase in activity, generating TZS 167.47 billion in turnover. Total Market Capitalisation expanded to TZS 33.75 trillion.
February 21, 2026
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
2 minute read

Dar es Salaam Stock Exchange Week 7 of 2026: Equity Turnover Rises to TZS 58.61 Billion as MCB, MKCB, and MBP Post Extraordinary Gains of +46.46%, +43.51%, and +40.49%

During Week 7 of 2026 (February 9th – 13th), the Dar es Salaam Stock Exchange (DSE) witnessed a spectacular rally in equity prices, pushing the Banks, Finance & Investment (BI) Index up by +10.06%. Three stocks—MCB, MKCB, and MBP—recorded extraordinary gains of over +40% each. Equity Turnover surged by +32.93% to TZS 58.61 billion, while the bond market activity moderated to TZS 105.42 billion after the previous week's record highs. Total Market Capitalisation expanded by +5.90% to reach TZS 32.64 trillion.
February 14, 2026
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
3 minute read

Dar es Salaam Stock Exchange Week 6 of 2026: Total Market Capitalisation Surpass TZS 30 trillion and Domestic Capitalisation Exceed TZS 20 trillion as Banks Rally

During Week 6 of 2026, the Dar es Salaam Stock Exchange (DSE) achieved a historic milestone as Total Market Capitalisation crossed the TZS 30 trillion mark, closing at TZS 30.82 trillion, and the Domestic Market Capitalisation crossed the TZS 20 trillion mark, closing at TZS 21.25 trillion. The stock market witnessed explosive growth in the banking sector, the bond market recorded a phenomenal turnover of TZS 258.61 billion. USL was the surprise top gainer, skyrocketing +400.00%, while CRDB and NICO posted robust gains of +22.93% and +21.74%, respectively.
February 7, 2026

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