Dar es Salaam Stock Exchange

Stock exchange in Tanzania

Dar es Salaam Stock Exchange

Type| Public
Location| 14th Floor, Golden Jubilee Towers, Ohio Street, Ilala, Dar es Salaam, United Republic of Tanzania
Coordinates| 6°48′48.9″S 39°17′21.0″E﻿ / ﻿6.813583°S 39.289167°E﻿ / -6.813583; 39.289167
Founded| 19 September 1996
Owner| Government of Tanzania (15%)
Public (85%)
Key people| Ellinami Minja (Chairman)
Peter Situmbeko Nalitolela (CEO)
Currency| Tanzanian shilling
No. of listings| 29
Market cap| TSh 23,721.49 billion June 2015[1]
Indices| Tanzania All Share Index
DSEI Dar Stock Exchange Index
IA Industrial & Allied
BI Banks, Finance and Investment
Website| dse.co.tz

The Dar es Salaam Stock Exchange (DSE) is a stock exchange located on Ohio Street, west of Kivukoni, south east 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).[2] 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.[3]

## History

[edit]

### Incorporation

[edit]

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.[4] 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.[5]

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.[citation needed]

### Demutualisation

[edit]

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.[6] 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.[7][8] The company offered 30% of the company's stock on the stock exchange represented by 15,000,000 ordinary shares.[9]

## Corporate affairs

[edit]

### Business trends

[edit]

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.[10] This was modified in 2017 to follow the callendar year.

| 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019

|
|
|
|
|
|
|
|
|

Market Capitalization (TSh billion)  | 5,926  | 12,773  | 14,058  | 18,902  | 23,721  | 21,728  | 23,076  | 19,677  | 17,105
Value of Shares traded (TSh billion)  | 48.25  | 44.45  | 73.00  | 272.45  | 879.22  | 733.66  | 711  | 208  | 625
Tanzania Share Index (TSI points)  | 1,051.92  | 1,206.99  | 1,840.11  | 3,561.62  | 4,684.09  | 3,706.15  | 3,919  | 3,431  | 3,691
Income and Expense Summary |  |  |  |
Income (TSh billion)  | 2.01  | 1.81  | 2.09  | 3.5  | 4.35  | 4.79  | 10.70  | 6.43  | 8.39
Expenses (TSh billion)  | 1.73  | 2.25  | 2.04  | 3.00  | 3.07  | 3.10  | 5.44  | 4.67  | 4.84
Profit/Deficit (TSh million)  | n/a  | −338.85 | 186.35  | 501.01  | 1,942.85  | 2,010.26  | 5,266  | 1,757  | 3,547
Securities and Bonds Summary
Value of Outstanding Listed Govt. Bonds (TSh 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
Treasury Bonds Listed (TSh billion)  | 918  | 433  | 977  | n/a  | n/a  | n/a  | n/a  | n/a  | n/a
Fixed Income Securities Trading (TSh billion)  | 363  | 248  | 452  | 477  | n/a  | n/a  | n/a  | n/a  | n/a
Notes  | [10] | [10] | [11] | [1] | [8] | [12] | [13] | [14] | [14]

### Ownership

[edit]

As of December 2019, the company stock was owned by corporate entities and individuals. The largest shareholders are listed in the table below.[15]

Dar-es-salaam Stock Exchange Stock Ownership Rank | Name of Owner | Percentage Ownership

|
|

1 | Government of Tanzania | 15.0
2 | Briarwood Capital Partners LP | 12.0
3 | Mr. Aunali F. Rajabali and Sajjad F. Rajabali | 10.0
4 | National Investments Company Limited Tanzania | 5.0
5 | General Public | 58.0
6 | TOTAL | 100.0

### Services

[edit]

* 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".[16] 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.[17] At the end of 2015 over 1000 investors used the platform.[18] 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.[19]

## Market listing

[edit]

As of August 2020[update] there are 27 listed companies, five corporate bonds and eight government bonds. The table below summarises the current market listings:[20][21]

Main Exchange
Symbol  | Company  | ISIN  | Date Listed  | Notes

|
|
|
|

1.TOL | Tol Gases Limited | TZ1996100008  | 15/04/1998  | Production of Oxygen, Industrial Gases, Welding Equipment
2.TBL | Tanzania Breweries Limited | TZ1996100016  | 09/09/1998  | Beer Brewing, Beer Marketing Beer Distribution
3.TATEPA | Tanzania Tea Packers | TZ1996100065  | 17/12/1999  | Tea Packaging & Distribution, Coffee Packaging & Distribution
4.TCC | Tanzania Cigarette Company Limited | TZ1996100032  | 16/11/2000  | Cigarettes, Tobacco Products
5.SIMBA | Tanga Cement Company Limited | TZ1996100057  | 26/09/2002  | Cement
6.SWIS | Swissport Tanzania Plc. | TZ1996100040  | 26/09/2003  | Aviation, Ground Handling, Cargo Handling
7.TWIGA | Tanzania Portland Cement Company Limited | TZ1996100024  | 29/09/2006  | Cement
8.DCB | Dar es Salaam Community Bank | TZ1996100214  | 16/09/2008  | Banking, Finance
9.NMB | National Microfinance Bank | TZ1996100222  | 06/11/2008  | Banking, Finance
10.KA | Kenya Airways | KE0000000307  | 01/10/2004  | Aviation
11.EABL | East African Breweries Limited | KE0000000216  | 29/06/2005  | Beer, Gin, Spirits
12.JHL | Jubilee Holdings Limited | KE0000000273  | 20/12/2006  | Insurance
13\. KCB | KCB Group | KE0000000315  | 17/12/2008  | Banking, Finance
14.CRDB | CRDB Bank | TZ1996100305  | 17/06/2009  | Banking, Finance
15.NMG | Nation Media Group | KE0000000380  | 21/02/2011  | Publishing, Printing, Television, Broadcasting[22]
16.ACA | African Barrick Gold | GB00B61D2N63  | 07/12/2011  | Mining
17.PAL | Precision Air Services Limited | TZ1996101048  | 21/12/2011  | Aviation Services
18.SWALA | Swala Gas and Oil | TZ1996101865  | 11/08/2014  | Oil & Gas
19.USL | Uchumi Supermarkets | KE0000000489  | 15/08/2014  | Supermarkets
20.DSE | Dar es Salaam Stock Exchange | TZ1996102434  | 12/07/2016  | Stock exchange
21.VODA | Vodacom Tanzania | TZ1996102715  | 15/08/2017  | Telecommunication Service Provider
22.TICL | TCCIA Investment PLC  |  | 16/03/2018  | Mutual fund, Finance
23.NICO | National Investments Company (Limited) Tanzania |  | 03/06/2018  | Mutual 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[23]
* 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  | Notes

|
|
|
|

1.MCB | Mwalimu Commercial Bank  | TZ1996102129  | 27/11/2015  | Banking
2.MBP | Maendeleo Bank[24] | TZ1996101683  | 04/11/2013  | Banking, Finance
3.MKCB | Mkombozi Commercial Bank[25] | TZ1996101972  | 29/12/2015  | Banking
4.YETU | Yetu Microfinance PLC[26] | TZ1996102344  | 10/03/2016  | Microfinance
5.MUCOB | MUCOBA Bank PLC  | TZ1996102419  | 10/09/2016  | Banking
6.JATU | JATU PLC[27] | TZ1996103804  | 23/11/2020  | Agriculture

## See also

[edit]

* Tanzania Mercantile Exchange
* Economy of Tanzania
* List of stock exchanges
* List of African stock exchanges
* Stock exchanges of small economies

## References

[edit]

1. ^ a b "Dar-Stock Exchange Annual Report" (PDF). DSE-TZ. Archived from the original (PDF) on 23 July 2015. Retrieved 22 July 2015.
2. ^ "Tanzania: Stock Trading Publicity Kicks-Off". TOMRIC News Agency (Dar es Salaam) (TNA) via AllAfrica.com. 12 June 2000. Retrieved 15 November 2014.
3. ^ "East African Stock Exchange In The Works To Merge Buoyant, Profitable Markets". International business times. 9 July 2013. Retrieved 22 July 2015.
4. ^ "DSE_FAQ" (PDF). DSE-TZ. Archived from the original (PDF) on 8 January 2022. Retrieved 22 July 2015.
5. ^ "DAR ES SALAAM STOCK EXCHANGE". African Securities Exchanges Association. Archived from the original on 22 July 2015. Retrieved 22 July 2015.
6. ^ "Demutualisation of the Dar Es Salaam Stock Exchange" (PDF). dse.co.tz. Dar es Salaam Stock Exchange. Archived from the original (PDF) on 6 March 2016. Retrieved 17 January 2016.
7. ^ "Dar es Salaam Stock Exchange aims for IPO and self listing Q1 2016". African Capital Markets. 2 July 2015. Retrieved 17 January 2016.
8. ^ a b "DSE demutalization prospectus English" (PDF). dse.co.tz. Dar es salaam Stock Exchange. 16 May 2016. Retrieved 16 May 2016.[permanent dead link]
9. ^ Maina, Milly W. (13 May 2016). "Dar es Salaam Bourse Begins Self-Listing Process". Footprint to Africa. Archived from the original on 10 June 2016. Retrieved 16 May 2016.
10. ^ a b c "Dar-Stock Exchange Annual Report 2012" (PDF). DSE-TZ. Archived from the original (PDF) on 24 March 2015. Retrieved 22 July 2015.
11. ^ "Dar-stock Exchange annual report 2013" (PDF). DSE-TZ. Archived from the original (PDF) on 24 March 2015. Retrieved 22 July 2015.
12. ^ "Dar-es-salaam Stock Exchange Annual Report 2016" (PDF). dse.co.tz. DSE. December 2016.
13. ^ "DSE 2018 Financial Report" (PDF). 2019.
14. ^ a b "DSE Annual Financials 2019" (PDF). Dar Stock Exchange. Archived from the original (PDF) on 5 June 2020. Retrieved 5 June 2020.
15. ^ "DSE Annual Report 2017" (PDF). Archived from the original (PDF) on 12 June 2018. Retrieved 12 June 2018.
16. ^ "DSE Ends 2015 With Remarkable Growth". AllAfrica. The Citizen. 1 January 2016. Retrieved 7 January 2016.
17. ^ "DSE Trading Now Goes Mobile". Daily News. 20 August 2015. Retrieved 21 August 2015.
18. ^ "Tanzania: Dse's Trading Through Mobile Phone Up 42 Pc". allAfrica.com. Retrieved 9 February 2016.
19. ^ "Tanzania: Mobile User Investors At Dar Bourse Increase". allAfrica.com. Retrieved 20 April 2016.
20. ^ "Companies Listed On the Dar es Salaam Stock Exchange". First Global Select. Archived from the original on 29 November 2014. Retrieved 15 November 2014.
21. ^ "DSE-Listed Companies". Dar-es-salaam Stock Exchange. DSE. Archived from the original on 1 August 2015. Retrieved 21 July 2015.
22. ^ Kamndaya, Samuel (17 December 2010). "Tanzania Approves Nation Media Group Cross-Listing". Daily Monitor (Kampala). Retrieved 15 November 2014.
23. ^ Mugabe, David (18 June 2009). "KCB Offers 2 Billion Shares To Rwandans". New Vision (Kampala). Archived from the original on 25 July 2015. Retrieved 15 November 2014.
24. ^ Mugwe, David (28 September 2013). "Maendeleo Shares To Trade On Dar es Salaam Bourse". The EastAfrican (Nairobi). Archived from the original on 29 November 2014. Retrieved 15 November 2014.
25. ^ "Mkombozi Bank Formally Goes Public, Offers 5 Million Shares". Tanzania Daily News (Dar es Salaam). 3 November 2014. Archived from the original on 29 November 2014. Retrieved 14 November 2014.
26. ^ "Yetu Microfinance formally goes public". Daily News. Tanzania. 11 March 2016. Archived from the original on 12 March 2016.
27. ^ "Jatu yaingia soko la hisa, mtaji wa soko waongezeka". Mwananchi. 23 November 2020. Retrieved 23 November 2020.

## External links

[edit]

* Dar es Salaam Stock Exchange Homepage
* African Securities Exchanges Association

* v
* t
* e

Economy of Tanzania

Currency|

* Tanzanian shilling
* Bank of Tanzania

Flag of Tanzania

History|

* Ujamaa
* Zanzibar Economy
* Poverty

Industry and business|

* Tanzania Mercantile Exchange (TMX)
* Agriculture
* Coffee
* Cashew
* Sisal
* Sugar
* Mining
* Companies
* Tourism

Government agencies|

* Chamber of Commerce
* Tanzania Ports Authority
* Taxation

Transport and infrastructure|

* Airports
* Roads
* Rail
* TAZARA Railway
* DART
* Julius Nyerere International Airport

Communications|

* TTCL
* Vodacom
* tiGO
* Airtel
* Halotel
* Sasatel
* SEACOM
* EASSy

Finance and banking|

* Dar es Salaam Stock Exchange (DSE)
* Banking
* Microfinance
* Telecommunications

Economic blocks|

* East African Community
* Southern African Development Community

Energy|

* TANESCO
* Power Plants
* Petroleum Development
* Tanzania Atomic Energy Commission

Future|

* East African Railway Master Plan
* Mtwara Development Corridor

* v
* t
* e

Tanzania articles

History|

* Timeline
* German East Africa
* Maji Maji Rebellion
* East African Campaign (World War I)
* British rule
* Tanganyika
* Sultanate of Zanzibar
* Zanzibar slave trade
* Zanzibar Revolution
* Arusha Declaration
* Ujamaa
* Uganda–Tanzania War
* COVID-19 pandemic

Geography|

* Cities
* Districts
* Islands
* Lakes
* National Parks
* Regions
* Rivers
* Volcanoes
* Wildlife

Politics|

* Cabinet
* Constitution
* Corruption
* Courts (High Court)
* Elections
* Foreign relations
* Human rights (LGBT rights)
* Military
* Parliament
* Political parties
* President
* List
* Vice President
* Prime Minister
* List

Economy|

* Agriculture
* Central bank
* Companies
* Shilling (currency)
* Stock Exchange
* Taxation
* Telecommunications
* Tourism
* Transport

Society|

* Cuisine (wine)
* Culture
* Demographics
* Education
* Ethnic groups
* Flag
* Healthcare
* HIV/AIDS
* Languages
* List of Tanzanians
* Literature
* Media
* Music
* Natural resource and waste management
* Persecution of Albinos
* Public holidays
* Religion
* Sport
* Water supply and sanitation

Zanzibar|

* History
* Pemba
* Unguja
* Archipelago
* House of Representatives

* Outline
* Index

* Category
* Portal

Authority control databases

International|

* VIAF

National|

* United States

*[No.]: Number
*[v]: View this template
*[t]: Discuss this template
*[e]: Edit this template