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VISION

To be a sustainable securities exchange that is an engine of economic growth for Tanzania.

MISSION

To provide a responsive securities exchange that promotes economic empowerment and contributes to the country's economic development through offering a range of attractive and cost-effective products and services.


Historical Background

1996 - Incorporation of DSE

1998 - Commencement of operations with a listing and trading of the first equity.

1999 - Deployment of the Central Depository System

Listing of the first corporate debt

2002 - Listing of Treasury bonds

2004 - Cross listing of the first foreign company and the listing of the first airline company

2006 - Deployment of Automated Trading System linked with a new three tier

Central Depository System

2008 - Listing of the first commercial bank

2011 - Listing of the first mining company


Corporate Structure

The DSE is governed by a Governing Council, which consists of 10 members drawn from various interested groups in the society. These are:

  1. Three Licensed Dealing Members;
  2. Two Associate members representing listed companies;
  3. One Associate member representing institutional investors;
  4. Two associate members representing professions;
  5. One associate member representing the public; and
  6. The Chief Executive Officer who is an ex-officio member.

Central Depository System

The Central Depository System (CDS) of the DSE acts like a bank for securities where various securities are deposited in safe custody to facilitate deliveries for DSE trades. By depositing securities into the CDS, the delivery of the securities in settlement of DSE trades can be achieved by electronic book entries instead of physically exchanging certificates (scrip). The securities deposited into the CDS may be pledged against a bank loan.


Trading System

Trading is conducted through an Automated Trading System (ATS). This is an electronic system which matches bids and offers using an electronic matching engine. The ATS is integrated with the CDS to facilitate automated validation of securities holdings and straight through processing of securities transactions.


Incentives to Issuers

(i) Reduced corporation tax from 30% to 25% for three successive years subsequent to listing of a company that have issued at least 25% of its shares to the public.

(ii) Tax deductibility of all Initial Public Offering (IPO) costs for the purposes of income tax determination. All IPO costs are accepted by the Tanzania Revenue Authority (TRA) as acceptable expenses used in the generation of income and profits, and therefore are taken into consideration when determining profit for tax purposes.


Incentives to Investors

(i) Zero capital gain tax as opposed to 10% for unlisted companies.

(ii) Zero stamp duty on transactions executed at the DSE compared to 6% for unlisted companies.

(iii) Withholding tax of 5% on dividend income as opposed to 10% for unlisted companies.

(iv) Zero withholding tax on interest income from listed bonds whose maturities are three years and above.

MARKET SUMMARY
Indices 17th April
TSI 2,965.78 18.78
DSEI 1,998.03 15.9
GAINERS & LOSERS
TBL 0.50%
SIMBA -0.81%
NMB -3.70%
EABL 4.17%
JHL 0.35%
NMG -0.69%
ABG 0.43%
EXCHANGE RATES
Currency Buying Selling
EUR 2241.50 2264.08
USD 1620.05 1636.25
KES 18.66 18.82
GBP 2722.49 2750.05
 
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Dar es Salaam Stock Exchange,
14th Floor, Golden Jubilee Towers,
Ohio Street.
P. O. Box 70081, Dar es Salaam, Tanzania
Tel: 255 22 2123983, 2128522
Fax: +255 22 2133849
Email: info@dse.co.tz
Website: http://www.dse.co.tz
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