DSE profit surges 46pc as market activities expand

DAR ES SALAAM: THE Dar es Salaam Stock Exchange (DSE) has reported a robust performance in the third quarter ending September, with profit after tax rising by 46 per cent year-on-year, reflecting strong market momentum and successful digital and investor engagement initiatives.

The DSE profit after tax increased to 1.609bn/- at the end of the quarter up from 1.191bn/- posted in the same period of the preceding year.

DSE’s Chief Executive Officer (CEO) Mr Peter Nalitolela said the stellar results is a combination of factors, including increased market activities and the ongoing rollout of digital and investor education initiatives.

“The result posted is driven by increased market activities, new listings, and ongoing digital and awareness initiatives,” said Mr Nalitolela in a statement issued recently.

The bourse’s total revenue surge by 69.2 per cent to 5.18bn/- at the end of the quarter from 3.06bn/- registered in the same quarter last year.

The surge is primarily driven by the increase in listing, transaction fees and registry and Central Securities Depository (CSD) fees.

According to the statement released, listing fees increased by 73.9 per cent to 2.07bn/- at the end of quarter up from 1.19bn/- while transaction fees increased more than four times to 1.21bn/- against 260.2m/- registered in the same quarter of the previous year.

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In addition, DSE’s registry and CSD fees more than doubled to 883.6m/- at the end of quarter from 377.3m/ – recorded in the same quarter of the preceding year.

DSE currently has 28 listed companies with 22 domestic and six are crosslisted with investors reached 705,156 at the end of quarter, a strong indication of a robust and expanding capital markets sector in the country.

DSE’s total assets also grew by 9.94 per cent during the quarter, reaching 42.0bn/- at the end of quarter up from 38.2bn/- posted in the previous quarter, reflecting continued market growth and investor confidence.

Total expenses also increased to 3.48bn/- at the end of quarter up from 1.87bn/- equivalent to 86 per cent, attributed to increased staff costs, administration expenses and operating expenses.