TCB Bank Prepares for DSE Listing as Tanzania Targets Up to Five State-Owned Companies

State-owned Tanzania Commercial Bank (TCB) has confirmed that it is preparing to enter the capital market and open its ownership to Tanzanian investors.

The move comes as the Government of Tanzania prepares selected state-owned enterprises for listing on the Dar es Salaam Stock Exchange (DSE), with up to five companies targeted by the end of the 2026/27 financial year.

TCB Chief Executive Officer and Managing Director Adam Mihayo disclosed the bank’s plans on 29th September 2026 during the 2026 Chairpersons and Chief Executive Officers Forum (C-CEOs Forum), according to The Citizen.

Mihayo said TCB is working to increase its profitability and lending while strengthening its financial capacity and is preparing to enter the capital market as part of these measures, with the planned move expected to increase its capital base and enable Tanzanians to acquire shares in the bank.

The prospective TCB listing forms part of a wider government programme to introduce additional state-owned enterprises to the DSE.

Treasury Registrar Nehemiah Mchechu announced in July 2026 that the government had completed its internal assessment of potential candidates and directed selected institutions to start preparing for listing, according to Daily News.

The government initially intends to list two public corporations, but the number could increase to four or five if the preparations progress as expected. The target is to complete the listings by the end of the 2026/27 financial year.

The names of the selected institutions have not been disclosed and are expected to be announced after the relevant processes involving the Capital Markets and Securities Authority (CMSA) and DSE.

The programme is intended to enable state-owned companies to raise investment capital through the market while allowing Tanzanians to acquire direct ownership in the enterprises.

State Mining Corporation (STAMICO) is among the state-owned enterprises that could enter the stock market.

In November 2024, then Minister for Minerals Anthony Mavunde said discussions concerning its proposed DSE listing were being finalised, as TanzaniaInvest reported at the time.

However, the eventual listing could involve its commercial subsidiary, STAMIGOLD, which operates the Biharamulo Gold Mine in Kagera Region.

In a recent interview with TanzaniaInvest, Peter Nalitolela, CEO of DSE, explained that the prospective issuers were expected to enter through the DSE Main Investment Market Segment and would therefore need to comply with the applicable listing requirements.