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| Dar es Salaam Stock Exchange (DSE) Chief Executive Officer, Mr. Peter Nalitolela (centre), addresses journalists during a media briefing on the performance of Tanzania's capital market for the second quarter and first half of 2026, alongside DSE Chief Financial Officer, Mr. Lucas Sinkala (right), and Central Depository and Registry Company (CSDR) Chief Executive Officer, Mr. Benitho Kyando (left), at the DSE headquarters in Dar es Salaam. The briefing highlighted strong growth in market capitalisation, trading activity, new securities listings, and DSE Plc's financial performance during the period. |
Dar es Salaam, July 24, 2026 – Tanzania's capital market continued its remarkable growth trajectory during the first half of 2026, with the Dar es Salaam Stock Exchange (DSE) recording significant gains across key market indicators, including market capitalisation, trading activity, new securities listings, and corporate profitability.
Speaking during a media briefing in Dar es Salaam, DSE Chief Executive Officer Peter Situmbeko Nalitolela, alongside Chief Financial Officer Lucas Sinkala, highlighted the Exchange's robust market performance for the second quarter of 2026 and the strong financial results of DSE Plc.
Market Capitalisation Climbs to TZS 35.18 Trillion
The total market capitalisation of the 28 companies listed on the DSE reached TZS 35.175 trillion as of 30 June 2026, representing an impressive 79.11 percent increase compared to TZS 19.639 trillion recorded during the same period in 2025.
Domestic listed companies delivered even stronger growth, with their combined market capitalisation rising by 84.85 percent to TZS 23.744 trillion from TZS 12.845 trillion a year earlier.
NMB Bank Plc remained Tanzania's most valuable listed company, with a market capitalisation of TZS 8.105 trillion, followed by CRDB Bank Plc at TZS 6.869 trillion.
Banking Sector Powers Stock Market Rally
The exchange's benchmark indices posted exceptional year-on-year gains, reflecting increased investor confidence and improved corporate performance.
The DSE All Share Index (DSEI) rose 72.0 percent to 4,048.80 points, while the Tanzania Share Index (TSI) surged 80.88 percent to 8,777.10 points.
The strongest performance came from the Banking, Finance and Investment Index (BI), which soared 174.05 percent, driven primarily by outstanding performances from NMB Bank Plc, CRDB Bank Plc, and KCB Bank Plc.
Bond Market Continues to Expand
The fixed-income market also maintained positive momentum.
Government bonds listed on the DSE increased to TZS 32.008 trillion, representing 17.80 percent growth year-on-year.
Meanwhile, the value of corporate and public institution bonds and Sukuk denominated in Tanzanian shillings rose 18.19 percent to TZS 1.598 trillion, while foreign currency-denominated corporate bonds expanded dramatically by 154.86 percent to US$186.05 million.
The Exchange Traded Fund (ETF) market also continued gaining momentum, reaching a market value of TZS 185.517 billion, following the successful introduction of Tanzania's first ETF in October 2025.
Equity Trading More Than Triples
Liquidity in the equity market improved substantially during the second quarter.
Total equity turnover reached TZS 496.795 billion, an increase of 227.24 percent compared to TZS 151.813 billionrecorded during the same quarter last year. Average daily trading value stood at TZS 8.28 billion.
Bond and Sukuk trading amounted to TZS 1.447 trillion during the quarter, while total first-half bond transactions increased 34.64 percent year-on-year to TZS 3.029 trillion.
ETF trading also recorded TZS 11.84 billion, reflecting growing investor participation in the relatively new investment product.
Five New Securities Listed
The second quarter witnessed the listing of five new debt securities with a combined value of TZS 236.42 billion, further strengthening Tanzania's capital market.
The new listings included:
- First Housing Finance's Makazi Bond
- Equity for Tanzania (EFTA) Bond
- KCB Bank Tanzania's Mapato Sukuk
- TMRC's Nyumba Bond
- iTrust Finance's iTrust Bond
DSE Plc Delivers Strong Financial Performance
DSE Plc itself reported robust financial growth during the second quarter of 2026, benefiting from increased trading volumes across the market.
Gross revenue rose 60.70 percent to TZS 6.26 billion, while profit before tax increased 74.28 percent to TZS 2.64 billion.
Profit after tax climbed 64.58 percent to TZS 2.38 billion, with earnings per share rising to TZS 99.82, representing a 64.59 percent increase over the previous year.
According to the Exchange, the improved performance was largely driven by significantly higher market transactions, particularly in June 2026 when trading value increased by 198.04 percent compared to May. Higher transaction volumes boosted transaction fees and securities transfer charges, while revenue growth outpaced operating expenses, resulting in improved profitability.
Transaction-related fees and Central Securities Depository (CSDR) processing fees accounted for 52 percent of total DSE revenue during the quarter, up from 45 percent a year earlier, highlighting the strong relationship between market activity and the Exchange's earnings.
Outlook
The first-half 2026 results reinforce the growing maturity and resilience of Tanzania's capital market. Strong gains in market capitalisation, increased investor participation, expanding bond and ETF markets, and sustained corporate profitability demonstrate the DSE's increasingly important role in mobilising long-term capital for economic development.
The continued dominance of banking stocks, together with a growing pipeline of new securities and investment products, positions the Exchange for sustained growth during the remainder of 2026 as investor confidence in Tanzania's financial markets continues to strengthen.
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