Tanzania Daily News (Dar es Salaam)

10 July 2014

Tanzania: Big Firms Continue to Shine At DSE

INVESTORS' wealth at the Dar es Salaam Stock Exchange (DSE) grew by 2.41tri/- in the first six months of 2014, affirming the exchange's position as one of the Tanzania's most dependable investment options.

The DSE Chief Executive Officer, Mr Moremi Marwa, said in Dar es Salaam that the period under review saw the market capitalisation, the value of all listed stocks, rising by 16 per cent while domestic listed companies rose by 25 per cent to 18.9tri/- and 7.49tri/-respectively.

This was largely contributed by share price appreciation in key manufacturing, banking and services sectors. He said large corporates, such as NMB, TCC, TBL, Tanga Cement and CRDB Bank counters, recorded higher growth than small and medium sized ones, except TOL gases that recorded a significant growth of 57 per cent in the past six months.

He said NMB recorded a growth of 52 per cent, followed by TCC 30 per cent, TBL 20 per cent, Simba Cement 19 per cent and CRDB 14 per cent.

Twiga, DCB and Swissport recorded negative growth of 13 per cent, two per cent and 2 per cent respectively while TATEPA, Precision Air and Maendeleo Commercial Bank recorded zero growth.

Mr Marwa said the trajectory of the two main indices, the DSEI that tracks all 18 listed equities and TSI tracking domestic listed companies grew by 16 per cent and 25 per cent respectively.

This effectively means that an investor whose portfolio included all 12 domestic listed companies got more return that those which invested in all listed companies, including the 6 cross listed companies.

Over the past one year, the DSE market capitalisation has growth by more than 120 per cent on the back drop of a more proactive market engagement agenda that has been implemented by the Exchange.

Efforts put by DSE included the actively engagement of issuers and investors through public awareness and public education, pro-active efforts for the Exchange to become more efficient that reducing the settlement cycle.

Also DSE has extended trading hours, migrating into the Wide Area Network for its trading system and the securities depository system.

Ads by Google

Copyright © 2014 Tanzania Daily News. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.