48% Share Price Increase at Dar es Salaam Stock Exchange

Published On: June 22, 2023Company: Dar es Salaam Stock Exchange (DSE.tz)
What is the DSE Group's focus for 2023?
The DSE Group's focus for 2023 is to implement the delivery of the new 2023–2027 Strategic Plan III which is embedded in the overall DSE objective of “providing a responsive securities exchange that promotes economic development through offering a range of attractive and cost-effective products and services”. Specific initiatives for 2023 include focusing on the domestic buy-side, increasing number of equity listings and range of other listings according to customer needs, continuing work with Licensed Dealing Members and others to increase price discovery and liquidity, improving data dissemination/sales, stockbroker research, and partnership with stakeholders, strengthening the DSE’s capabilities to deliver its mandate, and enhancing the Self-Regulatory Organization (SRO) function.

Financial Performance

  • Group revenue from contract with customers increased by 18.7%.
  • Operating profit for the group increased by 23.76%.
  • Profit before tax increased to TZS 4.53 billion.
  • Focused on growing order pipeline and improving contribution from the export market.

Dividend

  •  The Directors are proposing a final dividend of 62% of the Group’s profit after tax.
  • Equivalent to a dividend per share of TZS 116.

Planned and Implemented Activities in Year 2022

  • Follow up and approval of DSE Revised Rules, 2022.
  • Enabling environment for the listing of sustainable themed/labelled financial instruments.
  • Liquidity enhancement for both equity and debt market segments.
  • Prepared the DSE Five-Year Strategic Plan III (2023-2027).
  • Enhanced compliance and risk management process.
  • Enhanced efficient utilization of DSE financial, human and other resources.

2023 Outlook

  • The Exchange will continue to implement appropriate strategies to enhance growth and profitability.
  • In the year 2023, the DSE will continue with the delivery of the new 2023–2027 Strategic Plan III

Useful links

About Dar es Salaam Stock Exchange (DSE.tz)

Dar es Salaam Stock Exchange (DSE) is a stock exchange in Tanzania where stock brokers and traders can buy and sell securities such as shares of stock and bonds and other financial instruments. It was incorporated as a private company limited by guarantee in 1996 and started operating in 1998. It is a member of the African Stock Exchanges Association with 24 listed companies, 10 licensed brokers and 3 custodian banks. The DSE launched a second-tier market in 2013, the Enterprise Growth Market (EGM), with lower listing requirements; designed to attract small and medium companies with high growth potential. In 2015, the DSE changed its registration status from being limited by guarantee to being limited by shares. It is the third Exchange in Africa to demutualise after the Johannesburg Stock Exchange (JSE) and the Nairobi Securities Exchange (NSE). 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. DSE is based in Dar es Salaam which is the commercial capital and largest city in Tanzania.

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