TANZANIA COMPANIES WIN BIG AT DAR ES SALAAM STOCK EXCHANGE

The value of Tanzanian companies trading on the Dar es Salaam Stock Exchange has risen by Tsh8 trillion ($4.5 billion) in the past 21 months, new data shows.

Between December 2011 and December 2012, domestic companies’ value grew by Tsh3 trillion ($1.7 billion), up from Tsh2.4 trillion ($1.3 billion).

DSE programmes and projects manager Magabe Maasa said from January 2013 to date, domestic market capitalisation and indices have more than doubled.

“The domestic market capitalisation increased from Tsh5.98 trillion ($3.4 billion) in January last year to Tsh8 trillion ($ 4.5 billion) October this year,” he said.

He said the 13 listed companies on the DSE, among them Tanzania Breweries Ltd (TBL), Tanzania Cigarette Company (TCC) National Microfinance Bank Twiga (NMB), Swissport and CRDB, have been doing well.

The banking sector has contributed 30 per cent of the total turnover and 89 per cent of the market activity recorded for the past few weeks.

Most active counter

DSE data shows that in the past 21 months, the CRDB counter was the most active on the segment after transacting 2,073,167 shares trading at Tsh160 ($0.09) and closing at Tsh330 ($0.18) per share over 21 months.

NMB traded 152,068 shares from Tsh1,240 ($0.71) to Tsh4,390 ($2.52) per share over the same period.

Twiga traded Tsh10,047 shares, from Tsh2,600 ($1,49) to Tsh3,790 ($2,17) per share.

TCC was the most active counter trading 114,117 shares, closing at 17,510 per share. Swissport followed with 57,186 shares traded from Tsh3,900 to Tsh4,300 per share.

TBL’s price appreciated by 9.9 per cent, from Tsh2,900 ($1,660) to Tsh16,960 ($9.58) per share.

TCC chairman and chief executive officer Majd Abdou said in the statement that TCC recorded Tsh35.3 billion as profit after tax for the six months ending June 30, 2014 up from Tsh44.3 billion it recorded in the same period last year.

The East African