The Dar es Salaam Stock Exchange (DSE) is a stock exchange located on Junction of Kawawa road and New Bagamoyo road,Mikocheni, North of Dar es Salaam, the commercial capital and largest city in Tanzania. It was incorporated in September 1996 and trading started in April 1998. It is a member of the African Stock Exchanges Association and the World Federation of Exchanges. The exchange is open five days a week, from Monday through Friday. The trading days are weekly from Monday to Friday, starting from 10.00 am to 14.00 pm.
The activities of the exchange are monitored and supervised by the Capital Markets and Securities Authority (CMSA). The DSE operates in close association with the Nairobi Securities Exchange in Kenya and the Uganda Securities Exchange in Uganda. Plans are underway to integrate the three to form a single East African bourse.
History
Incorporation The Dar es Salaam Stock Exchange was established by the capital markets and security authority under the Capital Markets and Securities (CMS) Act of 1994 in Dar-es-salaam, Tanzania. The stock exchange was incorporated on 19 September 1996. The company was incorporated as a private company limited by guarantee and not having a share capital under the Companies Ordinate, therefore the DSE is a non-profit making body.
The exchange became operational on 15 April 1998, with TOL Gas Limited listing as the first company followed by the Tanzania Breweries Limited (TBL) during the same year. The delay was due to the necessary background operational preparations that were inevitable such as training of brokers and formulation of issuance and trading rules.
Demutualisation On 29 June 2015, the Dar-es-Salaam Stock exchange re-registered to become a public limited company. The company changed its name from the Dar Es Salaam Stock Exchange Limited to Dar Es Salaam Stock Exchange Public Limited Company. The company began selling shares on 16 May 2016 and is the third exchange in Africa after Johannesburg Stock Exchange (2006) and Nairobi Securities Exchange (2014) to self list. The company offered 30% of the company's stock on the stock exchange represented by 15,000,000 ordinary shares.
Corporate affairs
Business trends The Dar-es-salaam stock exchange started its 5-year plan from June 2011. The financial year for the DSE used to begins 1 July and ends on 30 June. This was modified in 2017 to follow the calendar year.
2011 2012 2013 2014 2015 2016 2017 2018 2019 Market Capitalization (TSh billion)5,92612,77314,05818,90223,72121,72823,07619,67717,105 Value of Shares traded (TSh billion)48.2544.4573.00272.45879.22733.66711208625 Tanzania Share Index (TSI points)1,051.921,206.991,840.113,561.624,684.093,706.153,9193,4313,691Income and Expense Summary Income (TSh billion)2.011.812.093.54.354.7910.706.438.39 Expenses (TSh billion)1.732.252.043.003.073.105.444.674.84 Profit/Deficit (TSh million)n/a186.35501.011,942.852,010.265,2661,7573,547Securities and Bonds Summary Value of Outstanding Listed Govt. Bonds (TSh billion)1,912.972,287.312,991.773,696.154,263.674,896.858,1089,43610,533 Treasury Bonds Listed (TSh billion)918433977n/an/an/an/an/an/a Fixed Income Securities Trading (TSh billion)363248452477n/an/an/an/an/aNotes
Ownership As of December 2019, the company stock was owned by corporate entities and individuals. The largest shareholders are listed in the table below.
+ Dar-es-salaam Stock Exchange Stock OwnershipRank Name of OwnerPercentage Ownership1Government of Tanzania 15.02Briarwood Capital Partners LP 12.03Mr. Aunali F. Rajabali and Sajjad F. Rajabali 10.04National Investments Company Limited Tanzania 5.05General Public 58.06 TOTAL100.0
Services DSE Mobile Trading was launched on 20 August 2015 to allow people upcountry where brokers are not present. The platform is called "soko la hisa kiganjani". The platform was designed by Maxcom Africa and is compatible with all Tanzanian cell phone operators. The program aims to allow more Tanzanians to participate in the bourse as currently only 400,000 people participate in a country of 50 million. At the end of 2015, over 1,000 investors used the platform. The platform continues to gain popularity and at the end of quarter 1 of 2016 the total number of users using the Mobile trading platform increased to 3000.
Market listing , there are 27 listed companies, five corporate bonds and eight government bonds. The table below summarises the current market listings:
Main Exchange Symbol Company ISIN Date Listed Notes1.TOLTol Gases LimitedTZ199610000815/04/1998Production of Oxygen, Industrial Gases, Welding Equipment2.TBLTanzania Breweries LimitedTZ199610001609/09/1998Beer Brewing, Beer Marketing Beer Distribution3.TATEPATanzania Tea PackersTZ199610006517/12/1999Tea Packaging & Distribution, Coffee Packaging & Distribution4.TCCTanzania Cigarette Company LimitedTZ199610003216/11/2000Cigarettes, Tobacco Products5.SIMBA Tanga Cement Company LimitedTZ199610005726/09/2002Cement6.SWISSwissport Tanzania Plc.TZ199610004026/09/2003Aviation, Ground Handling, Cargo Handling7.TWIGATanzania Portland Cement Company Limited TZ199610002429/09/2006Cement8.DCB Dar es Salaam Community BankTZ199610021416/09/2008Banking, Finance9.NMB National Microfinance BankTZ199610022206/11/2008Banking, Finance10.KAKenya AirwaysKE000000030701/10/2004Aviation11.EABLEast African Breweries LimitedKE000000021629/06/2005Beer, Gin, Spirits12.JHL Jubilee Holdings LimitedKE000000027320/12/2006Insurance13. KCB KCB GroupKE000000031517/12/2008Banking, Finance14.CRDB CRDB BankTZ199610030517/06/2009Banking, Finance15.NMG Nation Media GroupKE000000038021/02/2011Publishing, Printing, Television, Broadcasting16.ACA African Barrick GoldGB00B61D2N6307/12/2011Mining17.PALPrecision Air Services LimitedTZ199610104821/12/2011Aviation Services18.SWALASwala Gas and OilTZ199610186511/08/2014Oil & Gas19.USLUchumi SupermarketsKE000000048915/08/2014Supermarkets20.DSEDar es Salaam Stock ExchangeTZ199610243412/07/2016Stock exchange21.VODAVodacom TanzaniaTZ199610271515/08/2017Telecommunication Service Provider22.TICLTCCIA Investment PLC16/03/2018Mutual fund, Finance23.NICONational Investments Company (Limited) Tanzania03/06/2018Mutual fund, Finance
East African Breweries and Kenya Airways are cross listed at both the Uganda Securities Exchange and the Nairobi Securities Exchange. Kenya Commercial Bank Group, Nation Media Group and Uchumi Supermarkets are cross listed on the Nairobi Securities Exchange, the Uganda Securities Exchange and the Rwanda Stock Exchange National Investments Company (Limited) Tanzania was re-listed on 3 June 2018 after it was delisted in 2011. The company originally listed on 15 July 2008.
Enterprise Growth Market (EGM) Symbol Company ISIN Date Listed Notes1.MCBMwalimu Commercial BankTZ199610212927/11/2015Banking2.MBPMaendeleo BankTZ199610168304/11/2013Banking, Finance3.MKCBMkombozi Commercial BankTZ199610197229/12/2015Banking4.YETUYetu Microfinance PLC TZ199610234410/03/2016Microfinance5.MUCOBMUCOBA Bank PLCTZ199610241910/09/2016Banking6.JATUJATU PLCTZ199610380423/11/2020Agriculture
See also Tanzania Mercantile Exchange Economy of Tanzania List of stock exchanges List of African stock exchanges Stock exchanges of small economies
References
External links Dar es Salaam Stock Exchange Homepage African Securities Exchanges Association