Dar es Salaam Stock Exchange

What Dar es Salaam Stock Exchange does

Dar es Salaam Stock Exchange PLC (DSE) is Tanzania's national securities exchange, incorporated in 1996 and operational since April 1998. As a demutualized public limited company self-listed on its own market since 2015, DSE operates the only organized venue for trading listed equities, corporate bonds, and government Treasury bonds (with maturities of 2-25 years) in Tanzania, regulated by the Capital Markets and Securities Authority (CMSA) under the Capital Markets and Securities Act. As of February 2026, the exchange hosted 28 listed companies (22 local and 6 cross-listed), 797,566 investor accounts, and a market capitalization of 34.6 trillion Tanzanian shillings (TZS).

The platform architecture consists of the Avvento Automated Trading System (ATS) for order matching, the Central Securities Depository (CSD) operated by wholly-owned subsidiary CSDR Company Ltd since 2018 for electronic settlement, and the Hisa Kiganjani Mobile Trading Platform (launched 2020) accessible via Android/iOS apps, web, and USSD code. Market segments include the Main Investment Market Segment (MIMS) for established issuers, the Growth Enterprise Market Segment (EGM/Enterprise Growth Market) for SMEs (launched 2013), and Exchange Traded Funds. Supporting programs include the DSE Enterprise Acceleration Program (DEAP, 2019) and ENDELEZA for SME capacity building, the DSE Academy for investor education, and a Data Services portal for market data vending.

DSE generates revenue through three primary streams: (1) capped transaction fees of up to 2.3768% per trade (covering brokerage, DSE, CMSA, CDS, and Fidelity fees), (2) listing and corporate-action fees from issuers, and (3) subscription-based market data services. Distribution occurs directly via the mobile/online trading platform and indirectly through Licensed Dealing Members (stockbrokers), Investment Advisors, Custodians, and Fund Managers. Recent operating metrics show sharp acceleration, with February 2026 trading turnover surging 596.2% year-on-year to 242.3 billion TZS and market capitalization rising 80.8% year-on-year.

Name

Dar es Salaam Stock Exchange

Legal name

Dar Es Salaam Stock Exchange PLC

Website

https://dse.co.tz

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

11–50 employees

Short description

Dar es Salaam Stock Exchange is Tanzania's sole national securities exchange, operating an automated trading system and mobile trading platform to facilitate equity, bond, and ETF trading for 797,566 investor accounts across 28 listed companies.

Ownership category

akta.pro rank

Product category

Securities Exchange

NAICS

Securities and Commodity Exchanges (52321), Securities and Commodity Exchanges (523210), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Equities Trade Execution Platforms (ATS/MTF/ECN) (FSAFANAA)

akta.pro secondary industries

Fixed Income Electronic Trading Platforms (Bonds/Credit) (FSAFANAB), Central Securities Depository (CSD) & ICSD SFT Services (FSACAIAL)

Keywords

• Stock exchange services
• Securities trading platform
• Capital markets infrastructure
• Market data services
• Central securities depository

Headquarters

HQ city

Dar Es Salaam

HQ country

Tanzania

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Transaction/Brokerage Fees: DSE charges brokerage fees on all trades executed on the exchange. The maximum total brokerage fees stand at 2.3768% of the value of the trade, which includes Brokerage charges, DSE fees, CMSA fees, CDS fees, and Fidelity fees.
2. Listing Fees: Revenue generated from listing companies and securities on the exchange, including equity listings and bond issuances.
3. Market Data Services: Revenue from providing market data products, including real-time and historical market data through the data services portal (data.dse.co.tz).

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

The Dar es Salaam Stock Exchange (DSE) operates Tanzania's national securities exchange, providing electronic trading of equities, government and corporate bonds, and exchange-traded funds. It runs the Avvento Automated Trading System, a Central Securities Depository through subsidiary CSDR Company Ltd, and the Hisa Kiganjani Mobile Trading Platform accessible via mobile app, web, and USSD. The exchange enables capital raising for corporate issuers, investment opportunities for retail and institutional investors, and disseminates real-time and historical market data.

Product overview

Dar es Salaam Stock Exchange operates a unified platform-plus-segments architecture consisting of equity and debt market segments. The core product is the DSE Hisa Kiganjani Mobile Trading Platform (accessible via app, web, and USSD) supplemented by an Online Trading Platform. Market segments include MIMS (Main Investment Market Segment) for established companies and EGM (Enterprise Growth Market) for growing SMEs. Debt products include Corporate Bonds and Government Bonds. Supporting services include DEAP and ENDELEZA (SME acceleration programs), DSE Academy for education, Scholar Investment Challenge for youth outreach, and Data Services for market information. The exchange also offers ETF products for diversified trading.

Differentiator

Problem solved

Functional benefit

Products and services

• DSE Hisa Kiganjani Mobile Trading Platform A mobile trading platform developed by DSE enabling investors to trade equities via mobile app, web access, and USSD code. The platform allows investors to open CDS accounts, monitor account activity, and place buy/sell orders through stockbrokers.
• Online Trading Platform (Web) Web-based trading platform for investors to access the DSE equity market and place trades through licensed dealing members.
• Main Investment Market Segment (MIMS) Equity market segment for established companies seeking to raise capital through listing on the DSE.
• Enterprise Growth Market (EGM) Second-tier market segment for growing enterprises, launched to provide capital raising opportunities for SMEs.
• Corporate Bond Market Debt market segment for corporate bonds issued by companies to raise capital from investors.
• Government Bond Market (Treasury Bonds) Debt market segment for Treasury bonds issued by the government, with maturities ranging from 2 to 25 years.
• Exchange Traded Funds (ETFs) Exchange traded funds listed on DSE, including IEACLC-ETF and VERTEX-ETF, providing diversified investment options.
• DSE Market Data Services Market data products providing instant and historical market data to investors and market participants through a data vending portal, with a published price list and market data vending policy.
• DEAP (DSE Enterprise Acceleration Program) SME acceleration program introduced to build capacity and prepare small and medium enterprises for capital market access.
• ENDELEZA SME Acceleration Program SME acceleration program under DSE focused on helping SMEs prepare for listing and capital raising.

Quantifiable outcome

• Market capitalisation growth of 80.8% year-on-year to 34.6 trillion TZS
• +2 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Ministry of Agriculture (Tanzania)coreStrategic or Co-development PartnerThe Tanzanian Ministry of Agriculture is engaging with DSE to connect the agriculture sector with capital markets. The Minister for Agriculture met with DSE CEO Peter Nalitolela to explore how farmers and agribusiness investors can access financing through market-based instruments.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Emerging players

• BSE (Bombay Stock Exchange): Asia's oldest exchange, demutualized and publicly listed. Comparable to DSE as a self-listed, demutualized exchange that scaled from a frontier-style market to a major emerging market venue.

Broad incumbents

• Casablanca Stock Exchange: Morocco's national exchange, the second largest in Africa. Broad incumbent peer providing a reference point on retail investor participation and product diversification.
• Egyptian Exchange: North African exchange with equities, bonds, and ETFs. Broad incumbent peer operating a demutualized structure and providing a comparable model for African self-listed exchanges.
• Nigerian Exchange Group: Operator of the Nigerian Stock Exchange, Africa's largest equity market by number of listed companies. Broad incumbent peer serving as a regional benchmark and competing for cross-border listings.
• Johannesburg Stock Exchange: South Africa's main exchange, the most developed in Africa. Broad incumbent peer offering equities, bonds, derivatives, and ETPs — a useful template for DSE's product expansion.

Direct peers

• BRVM (Bourse Régionale des Valeurs Mobilières): Regional West African stock exchange serving eight WAEMU member states. Direct peer as a multi-country African exchange operator with equities, bonds, and an integrated CSD.
• Nairobi Securities Exchange: Kenya's national stock exchange, the largest in East Africa. Direct peer to DSE as a fellow East African equity and bond venue with automated trading, CSD services, and a similar demutualized structure.
• Rwanda Stock Exchange: Rwanda's national stock exchange. Direct peer in the East African Community operating an equities and bonds venue with a similarly small listed universe and a focus on financial inclusion.
• Uganda Securities Exchange: Uganda's national stock exchange. Direct regional peer operating a similar small-cap, frontier-market model with a comparable listed-company count and broker-based trading structure.
• Ghana Stock Exchange: West African national stock exchange. Direct peer as a sub-Saharan African exchange operator running equity, debt, and ETF markets with automated trading and CSD services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/dsetanzania

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dar es Salaam Stock Exchange