The Dar es Salaam Stock Exchange

The Dar es Salaam Stock Exchange (DSE) reached a market capitalization of TZS 15,300.82 billion on 26th July 2023. This is equivalent to USD 6.2 billion.

There are 27 listed equity securities, 16 licensed brokers, and 6 custodian banks.

The most traded stocks on the DSE are those of the National Bank of Commerce (NBC), Tanzania Breweries Limited (TBL), and CRDB Bank.

Companies Listed at DSE Stock Exchange

*Kenya Airways (KA) suspension from trading on its Primary Market at the Nairobi Securities Exchange (NSE) has been extended from 5th January 2023 to 5th January 2024. Meanwhile, KA shares have also been suspended from trading at the DSE from 6th July 2020 as per rules 57(1) and (2) of the DSE Rules, 2016.

**Yetu Microfinance was put under the administration of the Bank of Tanzania (BOT) in December 2022, and eventually taken over by NMB Bank in May 2023.

Dar es Salaam Stock Exchange Performances

The Dar es Salaam Stock Exchange (DSE) was incorporated in 1996 as a private company limited by guarantee (a non-profit making body) and became operational in 1998.

The first company to list at DSE was Tanzania Oxygen Limited (DSE:TOL) in 1998, which was also the first state-owned company selected for privatization through the capital markets.

DSE Performances in 2022

In 2022, with 27 listed equities, DSE’s trading value increased by +27.9% to TZS 133 billion in 2022 from a turnover of TZS 104 billion in 2021.

This was due to among other things, an improvement in foreign investors’ participation who contributed significantly to the equity liquidity.

In the secondary bonds market segment, bonds turnover (in trading value) increased by 21% to TZS 3,045 billion in 2022 from TZS 2,562 billion in 2021.

The total Market Capitalization decreased by -0.8% from TZS 15,809 billion as of 31st December 2021 to TZS 15,685 billion as of 31st December 2022.

On the other hand, the Domestic Market Capitalization increased by 3%, from TZS 9,426 billion on 31st December 2021 to TZS 10,280 billion on 31st December 2022.

The outstanding Treasury bonds increased from TZS 15,243 billion as of 31st December 2021 to TZS 17,088 billion as of 31st December 2022.

The outstanding Corporate bonds increased by +36% from TZS 114 billion as of 31st December 2021 to TZS 155 billion as of 31st December 2022.

The increase was due to new issuance of corporate bonds from NMB Bank, NBC Bank, and KCB Bank Tanzania.

DSE Performances in 2023

The Capital Markets and Securities Authority (CMSA) issued a report on the performance of the Tanzanian capital market from the beginning of the leadership of President Dr Samia Suluhu Hassan in March 2021.

According to the report, the total value of the investments in the capital markets increased by 18.3% to reach TZS 35.3 trillion as of 28th February 2023 from TZS 29.9 trillion as of 28th February 2021.

Meanwhile, the trading turnover of equities and bonds increased by 40.1% to TZS 6.4 trillion from TZS 4.6 trillion recorded in the corresponding previous period.

And the World Bank Report on the assessment of the movement of capital under the East African Common Market Scorecard raised the score for Tanzania by 157% from 7 out of 20 to 18 out of 20.

Furthermore, CMSA has implemented initiatives that have opened new market frontiers including the development of thematic and innovative capital market products and services such as the Environmental, Social and Governance (ESG) capital market products, including social bonds, ethical sharia-compliant sukuk bonds, green bonds and blue bonds.

Last updated: 27th July 2023