DSE week ends with market cap growth

DAR ES SAALAM: THE Dar es Salaam Stock Exchange (DSE) closed the week with market activity showing a modest decline in activity compared to the previous trading week.

Total turnover for the week increased to 36.894bn/-, representing a 48.63 per cent increase from the prior week’s turnover of 24.822bn/-.

CRDB emerged as the dominant player, contributing 64.29 per cent of the total market turnover, continuing the stretch of heightened interest in this counter.

Close behind was TBL, which accounted for 23.51 per cent, NMB and TCCL contributed 3.62 per cent and 1.69 per cent of the total turnover, respectively, reinforcing their positions as notable movers in the week’s trading session.

On the price movement front, MKCB stood out as the week’s top gainer.

Its share price appreciated by 37.04 per cent, closing at 2,220/- per share.

DCB followed closely, recording a 32.26 per cent increase, closing the week at 205/- per share.

On the loser’s side TBL recorded a steep decline, with its share price falling by 9.29 per cent to 7,810/-.

It was followed by NICO, which shed 6.22 per cent to close at 1,960/- per share and TPCC which shed 3.09 per cent to close at 5,640/- per share.

In terms of market valuation, the exchange registered growth in both total and domestic market capitalisation.

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Total market capitalisation rose by 4.02 per cent, to 22.616tri/-. Similarly, domestic market capitalisation rose by 5.3 per cent, closing the week at 15.187tri/-. Key benchmark indices

• All Share Index (DSEI) closed at 2,638.42 points increasing by 4.02 per cent

• T anza – nia Share Index (TSI) closed at 5,737.09 points increasing by 5.3 per cent Sector Indices

• Industrial & Allied Index (IA) closed at 4,434.02 points, down by 5.17 per cent

• Bank, Finance & Investment Index closed at 10,751.23 points, up by 12.7 per cent

• Commercial Services Index closed at 1,752.60 points, up by 4.63 per cent

Market News Round

Scancem nears 75 per cent stake in Tanga Cement after 13.3bn/- block trade Tanga Cement PLC (TCCL) shares dominated trading on the Dar es Salaam Stock Exchange (DSE) last week, following a multi-billion-shilling block deal that moved Scancem International DA closer to its goal of acquiring a larger stake in the cement producer.

The Norwegian cement investment company, which is wholly owned by Heidelberg Materials AG, already controls 68.33 percent of Tanga Cement’s issued share capital.

In early July, it launched a general public offer, approved by the Capital Markets and Securities Authority (CMSA), to buy up to 4,248,881 shares at 2,273/- per share.

The offer, which closed on July 22, was aimed at increasing its holding to as much as 75 per cent.

Heidelberg Materials already owns Tanzania Portland Cement Company (Twiga Cement), the country’s largest cement producer.

With Tanga Cement under firmer control, the group will command significant capacity across two of Tanzania’s major players.

Industry analysts note that such consolidation could enable Heidelberg to better manage the market’s supply-demand imbalance.

However, it also increases competitive pressure on smaller producers, who will be up against a more resourced and widely distributed rival.

Highlights: Debt Market

Treasury bill auction no: 1182 On August 13th, 2025, the Central Bank was in the market offering treasury bills to investors.

The offerings included 900m/- for the 35-day maturity Treasury bill, 1.9bn/- for the 91- day T-bill, 2.9bn/- for the 182- day T-bill, and 75bn/- for the 364-day T-bill.

In this auction, there was satisfactory demand for all the maturities, as they were all subscribed.

The 35-day bill received a 100 per cent subscription rate, 91- day bill was oversubscribed with a subscription rate of 600 per cent, the 182-day bill had a 200 per cent subscription rate and the 364-day bill was subscribed by 302.05 per cent.

The Bank of Tanzania accepted 33 per cent of the bids received in the 364-day bill.

The 364-day bill recorded a decline in its weighted average yield, falling from 7.8482 per cent in the previous auction held in late July to 6.9156 per cent in this auction.

This is equivalent to a drop of 93.26 basis points, this has been a continuous downward trend for the past three auctions.

The price floor was slightly adjusted upward to 93.47 from in the previous auction and the Central Bank allotted exactly what was offered.

The inflation rate for June 2025 stood at 3.3 per cent.

Secondary Market Activity

The secondary bond market posted a turnover of 196.783bn/-, up from 79.07bn/- in the previous week—a increase of 149 per cent.

Activity was primarily concentrated in the long-term bonds; 20-year and 25-year bonds.

Market Outlook

Equity activity has picked up, with banks driving gains while industrials lag, making the recent rally selective rather than broadbased.

The bond market is showing firm demand, particularly for long-dated paper.

Looking ahead, we expect continued selective upside in banking and a handful of industrial names, but fixed-income will remain the primary market driver: A 15-year Treasury reopen is scheduled for 20 August, and we anticipate yields up to about 12 per cent, which should sustain investor interest in bonds and likely temper exuberant equity moves.