DSE stock value up by 68pc

DAR ES SALAAM: THE stock value in the Dar es Salaam Stock Exchange (DSE) increased by 68 per cent last year, thanks to supportive government monetary policy and enhanced financial inclusion.

The stock value rose to 225tri/- in 2023 from 134bn/- recorded in the previous year, marking a robust performance and resilience in the stock market.

Additionally, the value of bonds also increased by 42 per cent to 3.65tri/- compared to 2.56tri/- in the prior year.

This increase can be attributed to various factors, including proper government monetary policy that encourages more investment in the stock market.

Another contributing factor is increased financial inclusion, which allows direct participation in the market through the DSE mobile platform ‘DSE Hisa Kisangani’ without the need for stockbrokers.

Emmanuel Nyalali, DSE’s Director of Trading and Markets, stated that the performance reflects the company’s initiatives to enhance the investment mindset through investment career programs, leading to positive results.

“The significant growth in the listing of new securities on the market, along with the sales of securities and a significant increase in income compared to the previous year, demonstrates the stability and attractiveness of the market to investors,” Nyalali told reporters yesterday.

He also mentioned that last year, the market experienced a positive trend in sales and attractive growth in the value of government bonds (treasury bonds) and corporate bonds, indicating investor confidence in the financial sector as a whole and the capital markets.

Despite the healthy performance of shares in the DSE last year, no new companies were listed on the market. However, the Tanzania Chambers of Commerce, Industry, and Agriculture (TCCIA) Investment Company listed its new shares through a ‘right issue,’ increasing its capital by selling shares to its shareholders.

Through this, the TCCIA investment managed to register a capital worth 10.58 billion TZS last year.

Nyalali informed reporters that DSE listed three new corporate bonds worth 579.42bn/- in the market.