Dar es Salaam Stock Exchange

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Dar es Salaam Stock Exchange
Dar Stock Exchange logo.png
Type Public
Location14th Floor, Golden Jubilee Towers, Ohio Street, Ilala, Dar es Salaam, United Republic of Tanzania
Coordinates 6°48′48.9″S39°17′21.0″E / 6.813583°S 39.289167°E / -6.813583; 39.289167
Founded19 September 1996
Owner Government of Tanzania (15%)
Public (85%)
Key peoplePius A. Maneno (Chairman)
Moremi Marwa (CEO)
Currency Tanzanian shilling
No. of listings29
Market cap TSh 23,721.49  billion June 2015 [1]
IndicesTSI Tanzania Share Index
DSEI Dar Stock Exchange Index
IA Industrial & Allied
BI Banks, Finance and Investment
Website Stock Exchange Website

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.

Contents

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.[ citation needed ]

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.

201120122013201420152016201720182019
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)1,051.921,206.991,840.113,561.624,684.093,706.153,9193,4313,691
Income 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/a−338.85186.35501.011,942.852,010.265,2661,7573,547
Securities 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/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
1 Government of Tanzania 15.0
2Briarwood Capital Partners LP12.0
3Mr. Aunali F. Rajabali and Sajjad F. Rajabali10.0
4 National Investments Company Limited Tanzania 5.0
5General Public58.0
6TOTAL100.0

Services

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
SymbolCompanyISINDate ListedNotes
1.TOL Tol Gases Limited TZ199610000815/04/1998 Production of Oxygen, Industrial Gases, Welding Equipment
2.TBL Tanzania Breweries Limited TZ199610001609/09/1998 Beer Brewing, Beer Marketing Beer Distribution
3.TATEPA Tanzania Tea Packers TZ199610006517/12/1999 Tea Packaging & Distribution, Coffee Packaging & Distribution
4.TCC Tanzania Cigarette Company Limited TZ199610003216/11/2000 Cigarettes, Tobacco Products
5.SIMBA Tanga Cement Company Limited TZ199610005726/09/2002 Cement
6.SWIS Swissport Tanzania Plc. TZ199610004026/09/2003 Aviation, Ground Handling, Cargo Handling
7.TWIGA Tanzania Portland Cement Company Limited TZ199610002429/09/2006 Cement
8.DCB Dar es Salaam Community Bank TZ199610021416/09/2008 Banking , Finance
9.NMB National Microfinance Bank TZ199610022206/11/2008 Banking , Finance
10.KA Kenya Airways KE000000030701/10/2004 Aviation
11.EABL East African Breweries Limited KE000000021629/06/2005 Beer , Gin , Spirits
12.JHL Jubilee Holdings Limited KE000000027320/12/2006 Insurance
13. KCB KCB Group KE000000031517/12/2008 Banking , Finance
14.CRDB CRDB Bank TZ199610030517/06/2009 Banking , Finance
15.NMG Nation Media Group KE000000038021/02/2011 Publishing, Printing, Television, Broadcasting [22]
16.ACA African Barrick Gold GB00B61D2N6307/12/2011 Mining
17.PAL Precision Air Services Limited TZ199610104821/12/2011 Aviation Services
18.SWALA Swala Gas and Oil TZ199610186511/08/2014 Oil & Gas
19.USL Uchumi Supermarkets KE000000048915/08/2014 Supermarkets
20.DSEDar es Salaam Stock ExchangeTZ199610243412/07/2016 Stock exchange
21.VODA Vodacom Tanzania TZ199610271515/08/2017Telecommunication Service Provider
22.TICLTCCIA Investment PLC16/03/2018 Mutual fund , Finance
23.NICO National Investments Company (Limited) Tanzania 03/06/2018 Mutual fund , Finance
Enterprise Growth Market (EGM)
SymbolCompanyISINDate ListedNotes
1.MCBMwalimu Commercial BankTZ199610212927/11/2015 Banking
2.MBPMaendeleo Bank [24] TZ199610168304/11/2013 Banking, Finance
3.MKCB Mkombozi Commercial Bank [25] TZ199610197229/12/2015 Banking
4.YETU Yetu Microfinance PLC [26] TZ199610234410/03/2016 Microfinance
5.MUCOBMUCOBA Bank PLCTZ199610241910/09/2016 Banking
6.JATUJATU PLC [27] TZ199610380423/11/2020 Agriculture

See also

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