Dar es Salaam Stock Exchange

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.

Dar es Salaam Stock Exchange
TypePublic
Location14th Floor, Golden Jubilee Towers, Ohio Street, Ilala, Dar es Salaam, United Republic of Tanzania
Coordinates6°48′48.9″S 39°17′21.0″E
Founded19 September 1996
OwnerGovernment of Tanzania (15%)
Public (85%)
Key peoplePius A. Maneno (Chairman)
Moremi Marwa (CEO)
CurrencyTanzanian shilling
No. of listings29
Market capTSh 23,721.49 billion June 2015[1]
IndicesTSI Tanzania Share Index
DSEI Dar Stock Exchange Index
IA Industrial & Allied
BI Banks, Finance and Investment
WebsiteStock Exchange Website

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

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.[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.

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.[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

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

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
RankName of OwnerPercentage Ownership
1Government of Tanzania15.0
2Briarwood Capital Partners LP12.0
3Mr. Aunali F. Rajabali and Sajjad F. Rajabali10.0
4National Investments Company Limited Tanzania5.0
5General Public58.0
6TOTAL100.0

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".[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

As of August 2020 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
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

References
  1. "Dar-Stock Exchange Annual Report" (PDF). DSE-TZ. 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. Retrieved 22 July 2015.
  5. "www.african-exchanges.org/members/dar-es-salaam-se". 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. "DSE demutalization prospectus English" (PDF). dse.co.tz. Dar es salaam Stock Exchange. 16 May 2016. Retrieved 16 May 2016.
  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. "Dar-Stock Exchange Annual Report 2012" (PDF). DSE-TZ. Retrieved 22 July 2015.
  11. "Dar-stock Exchange annual report 2013" (PDF). DSE-TZ. 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. "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.
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