Tanzania: DSE market grows to U.S.$10.4 million
The market capitalisation of the Dar es Salaam Stock Exchange (DSE) has increased by 27.8 per cent to Tsh17,301 billion ($10,432 million) by the year ending March 2014.The market capitalisation of the Dar es Salaam Stock Exchange (DSE) has increased by 27.8 per cent to Tsh17,301 billion ($10,432 million) by the year ending March 2014, a growth due to new listings and share price appreciation, implying investors' confidence with the economy.
The Bank of Tanzania (BoT)'s Financial Stability report of March 2014 also showed that the banking and financing index (BI) was the main driver of growth, with a 62.1 per cent appreciation. Industrial and allied share index increased by 27.0 per cent and TSI 46.1 per cent.
The Enterprise Growth Market (EGM), a new segment on the Dar es Salaam Stock Exchange for startup and small and medium-sized enterprises (SMEs), has listed one company, and several other applications are being processed.
At the end of March 2014, 18 companies were listed on the Dar es Salaam Stock Exchange.
The bond market also recorded significant growth. Tsh960.76 billion ($600.48 million) worth of Treasury bonds with different maturities were listed during the year ending March 2014, equivalent to 6.4 per cent increase from the Tsh903 billion ($564.38 million) listed during the corresponding period in 2013.
The secondary market recorded Tsh356.30 billion ($222.69 million) transactions for the financial year to March 2014, compared to Tsh339.98 billion ($212.49 million) the previous year.