Dar es Salaam stock exchange lists three new companies

The Dar es Salaam Stock Exchange (DSE) is expected to list three additional companies this year. 

Among the new companies that decided to list in the east African exchange is TanzaniteOne a fully owned subsidiary of London AIM listed Richland Resources, the world’s largest extractor and supplier of rough Tanzanite. 

“We are in the final stages of listing on the Dar bourse, largely to avail opportunity to as many Tanzanians to be part of the tanzanite industry,” said Dotto Medard, the firm’s Corporate and Public Relations Manager. He added, this will also allow Tanzanians be the shareholders in the largest miner of tanzanite. 

The other two firms are believed to be a gas company and a bank but the bourse Chief Executive Officer Gabriel Kitua declined to mention their names. 

However he stated that the increased number of listed companies will make the DSE one of the fastest growing market in the region despite being small. 

DSE was incorporated in 1996 and trading started in 1998 and currently there are 11 listed domestic companies and six cross listed firms. 

Last week the exchange turnover improved by 93 per cent thanks to an active participation of foreign investors and the market continues to show positive short term signals as the reporting season for the listed companies sets in.