To be a sustainable securities exchange that is an engine of economic growth for Tanzania.
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.
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
The DSE is governed by a Governing Council, which consists of 10 members drawn from various interested groups in the society. These are:
Three Licensed Dealing Members;
Two Associate members representing listed companies;
One Associate member representing institutional investors;
Two associate members representing professions;
One associate member representing the public; and
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 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
Incentives to Issuers
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
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
Zero capital gain tax as opposed to 10% for unlisted companies.
Zero stamp duty on transactions executed at the DSE compared to 6% for unlisted companies.
Withholding tax of 5% on dividend income as opposed to 10% for unlisted companies.
Zero withholding tax on interest income from listed bonds whose maturities are three years and above.