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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 47 of 2025: Bond Market Soars +45.92% as Equity Volume Plummets -41.49% Amid MCB’s +17.05% Surge

During Week 47 of 2025, the Dar es Salaam Stock Exchange (DSE) experienced a mixed week, marked by a significant surge in debt market activity but a notable slowdown in equity trading volumes. The primary stock indices recorded modest gains, continuing the positive trajectory seen in the preceding week. MCB stock recorded the highest appreciation, surging by +17.05%.
November 22, 2025
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
3 minute read

Dar es Salaam Stock Exchange Week 46 of 2025: DSE Market Activity Jumps +22.69% as MCB Stock Price Soars +18.92% Amid DSEI Index Gain

During Week 46 of 2025, the Dar es Salaam Stock Exchange (DSE) experienced a strong rebound, successfully reversing the broad market downturn seen in Week 45. The market saw gains across the major indices, driven by a substantial increase in overall market liquidity and significant activity in the bond segment. MCB was the top gainer, recording a surge of +18.92%.
November 17, 2025
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
2 minute read

Dar es Salaam Stock Exchange Week 45 of 2025: Indexes Retreat Across the Board Despite MKCB Rising +10.71%

During Week 45 of 2025, the Dar es Salaam Stock Exchange (DSE) experienced a broad market downturn, with all benchmarks recording losses, reversing the gains seen in Week 44. Despite the decline in overall indices, market liquidity improved significantly compared to the restricted trading of the prior week. MKCB was the top gainer for the second consecutive week, rising by +10.71%
November 8, 2025
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
2 minute read

Dar es Salaam Stock Exchange Week 44 of 2025: MKCB Rises +14.55% as Indexes Surge Despite Shortened Trading Week

During Week 44 of 2025, the Dar es Salaam Stock Exchange (DSE) operated for a shortened week of three days due to the suspension of trading on Wednesday, October 29, for the general elections, and subsequent closure from Friday onwards following nationwide shutdowns caused by post-election unrest, an internet blackout, and a curfew. Despite the shortened schedule, the exchange recorded gains across all benchmarks, led by the Commercial Services Index (CS), which rose by 4.53%. MKCB was the top gainer of the week, with its share price increasing by 14.55%.
November 1, 2025
Tanzania DSE performances Q3 2025
2 minute read

Dar es Salaam Stock Exchange Profit Rises 35% to TZS 1.6 Billion in Q3 2025

The Dar es Salaam Stock Exchange Group posted a 35% increase in profit after tax to TZS 1.6 billion in Q3 2025. Revenue surged 69% to TZS 5.18 billion, supported by increased listings, transactions, and registry fees. CEO Peter Nalitolela cited digital and investor education initiatives as key drivers of growth.
October 28, 2025
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
3 minute read

Dar es Salaam Stock Exchange Week 43 of 2025: Debut ETF Trades 712,100 Units, PAL Rises +33.33%

During Week 43 of 2025, the Dar es Salaam Stock Exchange (DSE) saw overall declines across major indices, except the Banks, Finance & Investment Index, which rose by +0.37%. PAL led weekly gains with a +33.33% price increase, followed by TTP (+26.58%) and TCCL (+11.90%). Trading on the new Exchange Traded Fund (ETF) Board was active, with VIS-ETF recording 712,100 units traded and a total turnover of TZS 193.07 million.
October 27, 2025
Tanzania DSE ETF Vertex Launch
2 minute read

Tanzania Launches First Exchange Traded Fund on Dar es Salaam Stock Exchange

Tanzania has launched its first Exchange Traded Fund, the Vertex International Securities ETF (VIS-ETF), on the Dar es Salaam Stock Exchange. Managed by Vertex International Securities Limited, the VIS-ETF aims to enhance market liquidity, attract investors, and expand investment opportunities in Tanzania’s capital markets.
October 23, 2025
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
2 minute read

Dar es Salaam Stock Exchange Week 42 of 2025: IA Index Advances +0.55%, Driven by Massive Gains in PAL (+20.00%) and TTP (+19.70%)

During the four-day trading week of Week 42 of 2025 at the Dar es Salaam Stock Exchange (DSE) experienced substantial declines in turnover metrics compared to the previous week. Total bond turnover dropped by -75.01%, while equity turnover fell by -21.52%. The total market capitalisation declined by -1.58%. In terms of indexes, the Industrial & Allied (IA) Index was the only benchmark to advance, rising +0.55%. Top-gaining stocks demonstrated significant momentum, led by PAL (+20.00%), TTP (+19.70%), and MKCB (+13.74%), while the largest losses were recorded by CRDB (-9.38%) and NICO (-6.08%).
October 18, 2025
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
2 minute read

Dar es Salaam Stock Exchange Week 41 of 2025: Bond Turnover Surges +148.34%, Equity Turnover Rises +32.38%, TTP +60.98%, CRDB +12.28%

During week 41 of 2025, total bond turnover at the Dar es Salaam Stock Exchange (DSE) saw a substantial surge of +148.34% to TZS 409.14 billion, while equity turnover rose significantly by +32.38% to TZS 15.66 billion. The total market capitalisation rose slightly by +2.16% to TZS 21,757.85 billion. Four of the five DSE benchmarks advanced, with the Banks, Finance & Investment Index (BI) seeing the largest gain at +5.37%. Top-gaining stocks were TTP (+60.98%), CRDB (+12.28%), and MUCOBA (+11.76%), while the largest losses were recorded by TCCL (-13.56%), TCC (-5.75%), and MCB (-2.70%).
October 12, 2025