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Tanzania’s Capital Market Executive Summary

Currently, the Dar es Salaam Stock Exchange (DSE) has 28 listed companies, including 22 domestic firms and 6 cross-listed companies.

Tanzania Capital Markets History

Tanzania’s Stock Exchange, the Dar es Salaam Stock Exchange (DSE), was established in 1996 as part of the government’s broader economic reforms aimed at stimulating a dynamic private sector to be the primary engine for economic growth in Tanzania.

The DSE started business on April 15th, 1998 to support the Tanzanian Government in privatizing parastatal entities in order to boost economic growth, reduce the number of non-performing parastatal enterprises, and eliminate budgetary support to them.

Tanzania Oxygen Limited (DSE:TOL) was the first state-owned company selected for privatization through the DSE.

After TOL’s initial public offering (IPO) at DSE on April 15th, 1998 Tanzania Breweries Limited (DSE:TBL) followed on September 28th of the same year.

Tanzania Cigarette Company (DSE:TCC), Swissport (DSE:SWIS), Tanzania Portland Cement Company (DSE:TPCC), Tanga Cement Company Limited (DSE:TCCL) and National Microfinance Bank (NMB) completed the list of 7 companies out of 330 shortlisted to be privatized.

Following these first state-driven listings, other private companies decided to list in DSE as a part of their corporate growth strategy to raise capital.

TATEPA, CRDB Bank, Precision Air, Maendeleo Bank, Swala Gas & Oil, MKOMBOZI Commercial Bank, and DCB Commercial Bank listed respectively on December 17th, 1999, June 17th, 2009, December 21st, 2011, November 4th, 2013, August 11th, 2014, December 29th, 2014, and September 16th, 2008.

DSE also counts with six cross listed companies: Kenya Airways (DSE:KA), East African Breweries (DSE:EABL), Jubilee Holdings (JHL), Kenya Commercial Bank (DSE:KCB), National Media Group (DSE:NMG), and Uchumi Supermarket (DSE:USL) from Kenya.

These companies decided to cross list mainly to earn a higher visibility and name recognition in the Sub-Saharan region and to access potential investors in different markets for future plans to raise capital, as it was declared by the companies’ CEOs at the listing moment.

The DSE has also managed to diversify financial instruments on the market with equities, derivatives, government and corporate bonds and Real Estate Investment Trusts (REITs) with the Watumishi Housing Company (WHC-REIT) which was the first REIT in East Africa.

The DSE launched its own IPO of 15m ordinary shares at TZS 500 per share on 16th May 2016. As of 9th September 2020, the DSE trades at TZS 890, an increase of 78%.

Tanzania Capital Markets Regulation

The Capital Markets and Securities Authority (CMSA) is a government agency established to promote and regulate securities business in Tanzania, that has been established under the Capital Markets and Securities Act, 1994.

The Act sought to establish the legal framework for the regulation of the securities industry that is supplemented by regulations promulgated by the Tanzanian Ministry of Finance.

Last Updated: 31st July 2023

DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
3 minute read

Dar es Salaam Stock Exchange Week 5 of 2026: DSE Lists Second ETF as Market Undergoes Major Correction with MBP and MKCB Plunging -36.18% and -24.75%

During Week 5 of 2026 (January 26th – 30th), the Dar es Salaam Stock Exchange (DSE) marked a significant milestone with the listing of its second Exchange Traded Fund, the iTrust East African Community Large Cap Exchange Traded Fund (IEACLC-ETF), on January 28th. While the new listing boosted ETF market capitalisation by +342%, the equities market experienced a sharp correction following the previous month's rallies. MBP and MKCB saw massive sell-offs, dropping -36.18% and -24.75% respectively. Despite the broader market dip, NMB surged +8.79%, helping lift the Banks, Finance & Investment Index.
January 31, 2026
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
3 minute read

Dar es Salaam Stock Exchange Week 4 of 2026: Equity Turnover Explodes to TZS 82.85 Billion as AFRIPRISE and MBP Record Extraordinary Gains of +69.79% and +60.85%

During Week 4 of 2026, the Dar es Salaam Stock Exchange (DSE) witnessed an unprecedented frenzy of trading activity, with Equity Turnover skyrocketing by +173.61% to TZS 82.85 billion. The market's bullish momentum accelerated further, driven by the Banks, Finance & Investment (BI) Index, which surged +13.59%, and the Commercial Services (CS) Index, which rose +11.84%. AFRIPRISE emerged as the top gainer with a massive +69.79% leap, while MBP continued its extraordinary rally for a third consecutive week, appreciating by another +60.85%.
January 26, 2026
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
3 minute read

Dar es Salaam Stock Exchange Week 3 of 2026: Commercial Services Index Surges +16.71% as MBP, TCCL, SWIS, and VODA Rally +52.42%, +23.60%, +18.52%, and +17.22%

During Week 3 of 2026, the Dar es Salaam Stock Exchange (DSE) sustained its strong momentum, recording growth across all benchmarks despite a shortened trading schedule due to Zanzibar Revolution Day. The Commercial Services (CS) Index delivered a market-leading increase of +16.71%, while MBP extended the market's streak of exceptional returns with a +52.42% gain. Investors remained active, driving Equity Turnover up by +47.99% to TZS 30.28 billion and pushing Total Market Capitalisation to TZS 26.46 trillion.
January 19, 2026
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
2 minute read

Dar es Salaam Stock Exchange Week 2 of 2026: All Indexes Up Substantially, MKCB, MBP, and NICO Record Extraordinary Price Appreciation of +60.86%, +56.96%, and +45.50%.

During Week 2 of 2026, the Dar es Salaam Stock Exchange (DSE) experienced significant growth in market value as all major indices rose by substantial margins, led by a +10.96% surge in the Commercial Services index. The week was defined by extraordinary price appreciation in three specific counters—MKCB (+60.86%), MBP (+56.96%), and NICO (+45.50%)—which significantly drove domestic market performance. Total Market Capitalisation increased to TZS 25,259.31 billion.
January 13, 2026
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
3 minute read

Dar es Salaam Stock Exchange Week 1 of 2026: Equity Turnover Soars +657.26% as MKCB Rises +27.20% in Festive-Bridging Trading Week

During Week 1 of 2026, the Dar es Salaam Stock Exchange (DSE) experienced an extraordinary surge in activity as investors aggressively repositioned for the new year, resulting in a massive increase in trading turnover and share volumes. Despite a shortened schedule due to the New Year’s Day bank holiday, the primary stock indices recorded significant gains, maintaining a powerful upward trajectory. MKCB stock recorded the highest appreciation, rising by +27.20%.
January 3, 2026
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
3 minute read

Dar es Salaam Stock Exchange Week 52 of 2025: Bond Market Surges +239.78%, Equity Turnover Dips -76.32%, CRDB Leads with +6.77%

During Week 52 of 2025, the Dar es Salaam Stock Exchange (DSE) experienced mixed results; while the equities market saw a sharp correction in trading volumes and turnover due to a shortened festive schedule, the debt market recorded explosive growth. The primary stock indices all recorded gains, maintaining a positive trajectory. CRDB stock recorded the highest appreciation, rising by +6.77%.
December 27, 2025
DSE Dar es Salaam Stock Exchange & TanzaniaInvest Report
3 minute read

Dar es Salaam Stock Exchange Week 50 of 2025: Equity Turnover Dips -30.49%, ETF Trading Surges +49.16%, DSE Leads with +19.42%

During the four-day trading week (Week 50 of 2025), the Dar es Salaam Stock Exchange (DSE) saw a continuation of mixed results; equity turnover and volume declined compared to Week 49, but the primary domestic indices showed strong gains, fueled by significant appreciation in key stocks. The Bond market experienced a sharp reduction in activity. DSE stock recorded the highest appreciation, surging by +19.42%.
December 14, 2025