The Dar es Salaam Stock Exchange (DSE) reported strong market and financial performance for the first quarter of 2026 during a press conference held in Dar es Salaam on 28th April.
Stocks
During the Q1 period, total equity turnover reached TZS 571.1 billion, marking a 320.86% increase from the previous quarter in 2025, when turnover stood at TZS 135.7 billion.
Domestic equity turnover also recorded significant growth, reaching TZS 133.2 billion, which represents a 315.71% increase compared to the previous quarter and a 347.77% increase on a year-on-year basis
Among the listed equities, companies that recorded the highest turnover during the quarter included CRDB Bank Plc (CRDB), NMB Bank Plc (NMB), Tanzania Breweries Limited (TBL), Tanga Cement Company Limited (TCC), Tanzania Cigarette Corporation (TCCL), and KCB Group Plc (KCB), highlighting continued strong activity in the banking and industrial sectors.
Equity volumes rose to 217.3 million shares, up 144.42% from 88.9 million shares in the previous quarter, and up 161.18% from 83.2 million shares in the same period in 2025.
ETF
Exchange Traded Funds (ETFs) recorded turnover of TZS 90.03 billion, reflecting continued growth in this segment following recent product developments on the Exchange, including newly listed funds such as the NMB EAC Large Cap ETF.
Market Capitalization
Total market capitalization stood at TZS 33.44 trillion at the end of the first quarter of 2026, representing a 39.38% increase compared to TZS 24.00 trillion recorded in the previous quarter, while domestic market capitalization reached TZS 15.58 trillion, increasing from TZS 12.94 trillion recorded in the same period last year, which translates to a 24.73% year-on-year growth.
Listed companies with the highest market capitalization included CRDB, NMB, KCB, TBL, Vodacom Tanzania Plc (VODA), Tanzania Portland Cement Company Limited (TPCC), and TCCL.
Indexes
The DSE All Share Index (DSEI) closed at 3,006.77 points, compared to 2,761.93 points in the previous quarter and 2,310.08 points in the first quarter of 2025, reflecting a 45.07% year-on-year increase.
The Tanzania Share Index (TSI) rose to 9,034.38 points, up from 5,759.41 points recorded at the end of the fourth quarter of 2025 and 4,882.64 points in the first quarter of 2025, representing a 56.86% quarter-on-quarter increase and an 85.03% year-on-year growth, with performance largely supported by gains in key banking and industrial counters.
The Bank, Finance & Investment Index (BI) was the largest driver, with a 210.33% year-on-year movement, from 6,558.01 as at the end of the first quarter of 2025 to 20,351.50 as
at the end of the first quarter of 2026, and a 86.71% quarter-on-quarter movement, from 10,900.19 as at the end of the fourth quarter of 2025 to 20,351.50 as at the end of the first quarter of 2026.
Bonds
Bond market activity remained strong, with the total value of bonds traded during the quarter amounting to TZS 1.65 trillion.
The bond market composition included corporate bonds, sub-national bonds, infrastructure bonds, and vanilla corporate bonds, reflecting continued diversification of investment products available on the Exchange.
In addition, outstanding government bonds stood at TZS 31.72 trillion, compared to TZS 27.53 trillion in the same period last year, representing a 51.21% increase.
Investors’ Participation
The number of Central Depository System (CDS) accounts increased to 809,175 by the end of the quarter, compared to 723,691 accounts in the previous quarter and 582,713 accounts in the same period last year.
Accounts linked to the Mobile Trading Platform (MTP), known as Hisa Kiganjani, reached 216,173, up from 142,998 in the previous quarter and 62,740 in the first quarter of 2025, reflecting strong growth in retail investor participation.
On the fixed income side, the total value of listed corporate and sub-national bonds, as well as sukuk certificates, stood at TZS 1.514 trillion, while in foreign currency terms, sukuk certificates were valued at approximately TZS 1.998 trillion.
Financial Performance
Regarding financial performance, DSE’s total revenue increased to TZS 6.815 billion during the first quarter of 2026, compared to TZS 3.926 billion recorded in the same period in 2025, representing a 73.58% increase.
Profit before tax rose to TZS 3.469 billion from TZS 1.839 billion recorded in the first quarter of 2025, equivalent to a 77.47% year-on-year growth, driven by increased transaction fees, higher activity in equities and bond trading, and growth in data-related income.
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