Dar es Salaam Stock Exchange – History, Affairs, Market Listing
What is Dar es Salaam Stock Exchange?
The Dar es Salaam Stock Exchange PLC (DSE) is situated to the west of Kivukoni, Ohio Street, in South-Eastern Dar es Salaam, Tanzania’s largest city and commercial capital. The stock exchange was founded in September 1996 and began trading operations in April 1998. Dar es Salaam Stock Exchange is a member of the World Federation of Exchanges and the African Stock Exchanges Association. It opens for five days every week, Monday to Friday, with the trading commencing at 10 am and ending at 2.00 pm.
The Dar es Salaam Stock Exchange listing requirements and all other activities are supervised and monitored by the Capital Markets and Securities Authority (CMSA). Dar es Salaam Stock Exchange works closely with Kenya’s Nairobi Securities Exchange (NSE) and the Ugandan Uganda Securities Exchange (USE). There are plans to amalgamate all three and form a common bourse for East Africa.
| Category | Public |
| Address | Golden Jubilee Towers, 14th Floor, Ohio Street, Dar es Salaam |
| Coordinates | 39°17′21.0″E 6°48′48.9″S |
| Founded | September 19 1996 |
| Owner | Tanzanian Government (15 per cent) Public (85 per cent) |
| Honourable mentions | Pius A. Maneno – Chairperson Marwa Morem – CEO |
| Currency | Tanzanian Shilling |
| Number of listed companies | 29 |
| Market cap | As of June 2015 Tshs 23,721.49 billion |
| Indices | Dar es Salaam Stock Exchange Index- DSEI
Tanzania Dar es Salaam Stock Exchange Index- TSI |
| Website | Stock Exchange Website |
History of the Dar es Salaam Stock Exchange Market
Incorporation of the Dar es Salaam Stock Exchange Tanzania
Dar es Salaam Stock Exchange was founded by the CMSA under the 1994 CMS Act in Tanzania’s Dar es Salaam. It was then incorporated on September 19 1996. Dar es Salaam Stock Exchange was a non-profit-making organization because its incorporation as a private company limited had been by guarantee rather than as a result of possessing share capital in the Companies Ordinate.
The Dar es Salaam Stock Exchange started its operations on April 15 1998 with the first two companies being TOL Gas Limited and Tanzania Breweries (TBL) respectively, with both of them joining in 1998. The holdup was because of the inevitable background preparations for operations such as the formulation of trading and issuance rules and training of new Dar es salaam stock exchange brokers.
Demutualisation
| 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | |
| Value of Shares traded (Tshs Billion) | 48.25 | 44.45 | 73.00 | 272.45 | 879.22 | 733.66 | 711 | 208 | 625 |
| Tanzania Share Index (TSI) | 1,051.92 | 1,206.99 | 1,840.11 | 3,561.62 | 4,684.09 | 3,706.15 | 3,919 | 3,431 | 3,691 |
| Dar es Salaam Stock Exchange Market Capitalization (Tshs Billion) | 5,926 | 12,773 | 14,058 | 18,902 | 23,721 | 21,728 | 23,076 | 19,677 | 17,105 |
| Summary of Expense and Income | |||||||||
| Income (Tshs Billion) | 2.01 | 1.81 | 2.09 | 3.5 | 4.35 | 4.79 | 10.70 | 6.43 | 8.39 |
| Deficit /Profit (TShs Million) | n/a | −338.85 | 186.35 | 501.01 | 1,942.85 | 2,010.26 | 5,266 | 1,757 | 3,547 |
| Expenses (Tshs Billion) | 1.73 | 2.25 | 2.04 | 3.00 | 3.07 | 3.10 | 5.44 | 4.67 | 4.84 |
| Summary of Bonds and Securities | |||||||||
| Outstanding Listed Govt. Bonds value (Tshs Billion) | 1,912.97 | 2,287.31 | 2,991.77 | 3,696.15 | 4,263.67 | 4,896.85 | 8,108 | 9,436 | 10,533 |
| Fixed Income Securities Trading (Tshs Billion) | 363 | 248 | 452 | 477 | – | – | – | – | – |
| Treasury Bonds Listed (Tshs Billion) | 918 | 433 | 977 | – | – | – | – | – | – |
On June 29 2015, the Dar es Salaam Stock Exchange was re-registered as a public limited company. The name of the company was changed to Dar es Salaam Stock Exchange Public Limited Company. It started selling its shares on May 16 2016 and became the 3rd African exchange to self-list after the Nairobi Securities Exchange in 2014 and the Johannesburg Stock Exchange in 2006. 30 per cent of the company’s stock were offered on the stock exchange and were represented by 15 million ordinary shares.
Corporate Affairs
Business Trends
In June 2011, the Dar es Salaam Stock Exchange began its 5-year plan. Its financial year starts on July 1 and ends on June 30. In 2017, it was adjusted to follow the calendar year.
Ownership
The stock of the company was under the ownership of individuals and corporate entities as of 2019 December. The biggest shareholders are shown in the least below
| Ownership of Dar es Salaam Stock Exchange Stock | ||
| Rank | Owner name | Percentage Ownership |
| 5th | General Public | 58.0 |
| 4th | National Investments Company Limited Tanzana | 5.0 |
| 3rd | F. Rajabali, Sajjad Rajabali and Mr Aunali | 10.0 |
| 2nd | Briarwood Capital Partners L.P | 12.0 |
| 1st | Tanzanian Government | 15.0 |
| TOTAL | 100 | |
Services
Dar es Salaam Mobile Trading launched on August 20 2015 to enable people in rural areas where there are no brokers. The platform was named “soko la hisa kiganjani”. A design of Maxcom Africa, it is conformable with all cell phone operators in Tanzania. The objective of this program is to enable more people to take part in the Dar es Salaam Stock Exchange market as presently there are merely 400,000 participants in a nation with 50 million people. By the end of 2015, more than 1000 entrepreneurs used the program. The popularity of the platform continued to rise and at the termination of 2016 Quarter 1, the number of traders of the mobile platform had risen to 3000.
Dar es Salaam Stock Exchange Listed Companies
There were twenty-seven listed companies, eight government bonds and five corporate bonds as of August 2020. The Dar es Salaam Stock Exchange today, has the following market listings summarized in the table below.
Main Exchange – Dar es salaam Stock Exchange Listed Companies
| Company | Symbol | Date listed | ISIN | Notes | ||
| Gases Limited | TOL | 15/04/1998 | TZ1996100008 | Oxygen production, Welding equipment, Industrial gases | ||
| Tanzania Cigarette Company Limited | TTC | 16/11/2000 | TZ1996100032 | Tobacco products, Cigarettes | ||
| Tanzania Tea Packers | TATEPA | 17/12/1999 | TZ1996100065 | Tea Distribution and packing, Coffee distribution and packing | ||
| Tanzania Breweries Limited | TBL | 09/09/1998 | TZ1996100016 | Beer Distribution, Beer Brewing, Beer Marketing | ||
| Tanzania Portland Cement Limited Company | TWIGA | 29/09/2006 | TZ1996100024 | Cement | ||
| Swissport Tanzania PLC | SWISS | 26/09/2003 | TZ1996100040 | Ground Handling, Aviation, Cargo Handling | ||
| Tanga Cement Company | SIMBA | 26/09/2002 | TZ1996100057 | Cement | ||
| National Microfinance Bank | NMB | 06/11/2008 | TZ1996100222 | Finance, Banking | ||
| KCB group | KCB | 17/12/2008 | KE0000000315 | Finance, Banking | ||
| Dar es Salaam Community Bank | DCB | 16/09/2008 | TZ1996100214 | Finance, Banking | ||
| Jubilee Holdings Limited | JHL | 20/12/2006 | KE0000000273 | Insurance | ||
| East African Breweries Limited | EABL | 29/06/2005 | KE0000000216 | Gin, Beer, Spirits | ||
| National Media Group | NMG | 21/02/2011 | KE0000000380 | Printing, Publishing, Broadcasting, Television | ||
| Precision Air Services Limited | PAL | 21/12/2011 | TZ1996101048 | Aviation Services | ||
| CRDB Bank | CRDB | 17/06/2009 | TZ1996100305 | Finance, Banking | ||
| Swala Gas and Oil | SWAL | 11/08/2014 | TZ1996101865 | Gas and Oil | ||
| African Barrick Gold | ACA | 07/12/2011 | GB00B61D2N63 | Mining | ||
| Dar es Salaam Stock Exchange | DSE | 12/07/2016 | TZ1996102434 | Stock Exchange | ||
| TCCIA Investment PLC | TICL | 16/03/2018 | Finance, Mutual Fund | |||
| Uchumi Supermarkets | USL | 15/08/2014 | KE0000000489 | Supermarkets | ||
| National Investments Company (Limited) Tanzania | NICO | 03/06/2018 | Finance, Mutual Fund | |||
| Vodacom Tanzania | VODA | 15/08/2017 | TZ1996102715 | Telecommunication Service Provider | ||
| Kenya Airways | KA | 01/10/2004 | KE0000000307 | Aviation | ||
For a more current list of companies please always consult https://dse.co.tz/listed-companies
- Kenya Airways and East African Breweries are cross-listed at the Nairobi Securities Exchange and in Uganda’s USE.
- KCB (Kenya Commercial Bank) Group and Uchumi Supermarkets and Nation Media are cross-listed at the USE , the Rwanda Stock Exchange and Kenya’s NSE.
- National Investments Company Tanzania was delisted in 2011 and listed again on June 3 2018. It was initially listed on July 15 2008.
EGM – Enterprise Growth Market
| Company | Symbol | Date Listed | ISIN | Notes |
| Mwalimu Commercial Bank | MCB | 27/11/2015 | TZ1996102129 | Banking |
| MUCOBA Bank PLC | MUCOB | 10/09/2016 | TZ1996102419 | Banking |
| Mkombozi Commercial Bank | MKCB | 29/12/2015 | TZ1996101972 | Banking |
| Maendeleo Bank | MBP | 04/11/2013 | TZ1996101683 | Finance, Banking |
| Yetu Microfinance PLC | YETU | 10/03/2016 | TZ1996102344 | Microfinance |
| JATU PLC | JATU | 23/11/2020 | Agriculture |
Other Important Things About the Dar es Salaam Stock Exchange
- Dar es Salaam Stock Exchange share prices – https://africanfinancials.com/dar-es-salaam-stock-exchange-share-prices/
- Dar es Salaam Stock Exchange market report – https://dse.co.tz/dse/market-report
- Dar es Salaam Stock Exchange pdf – PDF
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