Dar es Salaam Stock Exchange Celebrates 30 Years With TZS 35.2 Trillion Market Capitalization, 870,000 Investors, and TZS 1.585 Trillion Mobilized Through Equity Issuances

On 3rd July 2026, the Dar es Salaam Stock Exchange (DSE) marked its 30th anniversary, celebrating three decades of growth in Tanzania’s capital markets while outlining a renewed role for the exchange in financing the country’s National Development Vision 2050.

The celebration, held in Dar es Salaam, brought together government leaders, regulators, stock exchanges from across Africa, development partners and capital market stakeholders.

The event followed the hosting of the 13th Building African Financial Markets (BAFM) Forum, bringing together capital market leaders, regulators, and financial institutions under the theme of driving capital market growth in Africa through innovation, integrity, and inclusive participation.

The anniversary also included an awards ceremony to recognize individuals who played a key role in DSE’s growth and the graduation of participants from the DSE Academy.

Speaking during the anniversary celebration, Tanzania’s Minister of Finance, Ambassador Hamis Musa Omar stated: “DSE is a testament to the significant progress that Tanzania has made in building a modern economy driven by private investment and efficient financial markets.”

The Minister further linked the future of the exchange to the implementation of Tanzania’s National Development Vision 2050, which officially commenced on 1st July 2026.

“We started the implementation of the National Development Vision 2050. Through this vision, we aim at building a competitive and inclusive economy driven by knowledge, technology, innovation, and strong private sector participation,” added Omar.

He stated that the Vision seeks to build a competitive and inclusive economy driven by knowledge, technology, innovation, and a vibrant private sector, with capital markets expected to play a central role in mobilizing long-term financing.

Ambassador Omar emphasized that the Government will continue encouraging public institutions, state-owned enterprises and other strategic entities to utilise the capital market to raise long-term capital rather than relying solely on public financing.

He noted that this approach would strengthen investment, reduce dependence on the government budget and accelerate national development.

On his part, DSE’s Chief Executive Officer Peter Nalitolela said the exchange currently has 28 listed companies with a total market capitalization of TZS 35.175 trillion, equivalent to approximately USD 13.4 billion as of June 2026.

“Over the 30 years of its existence, DSE has seen 29 companies have had their shares listed… currently, however, there are 28 companies listed. By the end of June, we had almost 870,000 investment accounts… with the majority of them being investors between ages 21 and 30.”

He further highlighted the contribution of the DSE’s digital investment platform, Hisa Kiganjani, which has enabled approximately 266,000 investors to access the market through mobile technology, supporting broader financial inclusion across the country.

In his address, the Chief Executive Officer of Capital Markets and Securities Authority (CMSA), CPA Nicodemus Mkama, highlighted: “In this period of 30 years… we have enabled the number of licensed companies providing services in the capital markets to increase from six companies… to reaching 105 companies today.”

“CMSA enabled the DSE to obtain membership in the World Federation of Exchanges… becoming a member starting in 2019. This is a sign that our market continues to meet international standards,” added Mkama.

On his part, the Board Chairman of DSE, Daniel Gaston Simayan stated:”The journey of 30 years went from having one registered company to reaching 28 companies we have today. DSE has gone from being an institution 100% run by government subsidies to being an institution that now makes a profit and pays dividends to all its investors, including the government.”

On her part, the Chief Executive Officer of the World Federation of Exchanges (WFE), Nandini Sukumar, highlighted: “In 1999, the exchange hit another milestone with the creation of the Central Depository System and the listing of the first corporate bond. The exchange isn’t a marketplace alone; it is a strategic tool to drive the development of a nation, to change socioeconomic history, and to change the lives of people.”

On his part, the President of the African Securities Exchanges Association (ASEA), Pierre Celestine Rwabukumba stated:”Capital markets at their best are about involving people in development… They allow entrepreneurs to transform ideas into businesses… and enable ordinary people to become owners of their own future.”

In his speech, the Chairman of the Tanzania Securities Brokers Association (TISEBA), Godfrey Malauri, stated: “As TISEBA, we reaffirm our commitment to ensure that the capital market remains a powerful engine for national development and wealth creation… the next chapter should be defined by innovation, technology, inclusivity, and sustainability.”

About DSE

The DSE was incorporated in September 1996 under the Capital Markets and Securities Act as part of Tanzania’s financial sector reforms. It officially commenced operations on 15 April 1998 with the listing of Tanzania Oxygen Ltd (now TOL Gases Ltd).

The exchange has played a key role in privatization and public offerings of major Tanzanian companies, including banks, telecommunications firms, breweries, manufacturing companies, and mining businesses. It has also facilitated cross-listings of companies already listed on regional exchanges, particularly from Kenya and Uganda.

In 2016, the DSE became one of the few stock exchanges in Africa to list its own shares through a self-listing, allowing investors to own part of the exchange itself. The listing strengthened its governance, transparency, and capital base.

Over the years, the exchange has expanded beyond equities to include government bonds, corporate bonds, municipal bonds, green bonds, sustainability-linked bonds, and exchange-traded funds (ETFs). It also supports the issuance of Sukuk (Islamic bonds).

The DSE has introduced several market segments to accommodate companies of different sizes. The Main Investment Market Segment (MIMS) serves established companies meeting full listing requirements, while the Enterprise Growth Market (EGM), launched in 2013, provides smaller and fast-growing businesses with access to public capital under more flexible listing criteria.

In recent years, the DSE has increasingly focused on digital transformation, financial inclusion, environmental, social and governance (ESG) finance, and capital market integration across Africa. It has promoted retail investor participation through mobile technologies and investor education while working with regulators to develop new products and attract more listings.