Core Securities

What Core Securities does

CORE Securities Limited is a privately held Tanzanian financial services firm headquartered in Dar es Salaam, licensed by the Capital Markets and Securities Authority (CMSA) as an Investment Advisor since 2 March 1998 and admitted as a Licensed Dealing Member of the Dar es Salaam Stock Exchange (DSE) on 20 July 1999 (Member No. D-007). The company operates a single integrated brokerage and capital markets platform serving both retail and institutional investors in Tanzania, with a stated vision of extending into the broader East African and SADC regions. Its product suite spans stock and bond brokerage, investment advisory (including valuation of quoted and unquoted securities), government securities trading via Bank of Tanzania auctions, fund management under the UMANDE brand, Collective Investment Schemes, registrar and custodian services, end-to-end IPO advisory (Lead Advisor, NOMAD, Sponsoring Broker roles), research and publications, and Continuing Professional Development training delivered through affiliate Consultants for Resources Evaluation Limited.

The business model combines transaction-based commission revenue from securities trading with fee-based advisory, recurring AUM-based management fees under UMANDE, sliding-scale retainer and transaction fees for registrar and custodian services, episodic professional services revenue from IPO and capital markets mandates, and revenue from CPD training. The go-to-market is sales-led and hybrid, combining a team of financial advisors at the Dar es Salaam headquarters with digital channels including the DSE online trading platform and a dedicated IPO portal (ipo.coresecurities.co.tz). The firm’s most significant recent initiative is the Foresight Private Retirement Fund (FPRF), a CMSA-approved supplementary pension scheme with a 5-year vesting period, launched on 16 June 2026 in partnership with NMB Bank PLC as Trustee/Custodian, targeting the 96% of Tanzania’s population without formal pension access. Internally, the firm runs on proprietary in-house software for registrar and asset management functions supporting CIS operations, and is led by George Fumbuka as CEO, Chairman, and Director.

Name

Core Securities

Legal name

CORE Securities Limited

Website

https://coresecurities.co.tz

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Securities Brokerage and Investment Services

NAICS

Investment Banking and Securities Intermediation (523150), Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Equity Capital Introduction & Prime Services (FSACAFAK)

akta.pro secondary industries

IPO & New Issue Issuer Services (Listing/ISIN setup) (FSACAKAH), Securities Safekeeping & Asset Servicing (Core Custody Ops) (FSACAHAF), Execution-Only / Self-Directed Investing Platforms (FSAAAAAI)

Keywords

• Securities brokerage
• Investment advisory
• Fund management
• IPO advisory
• Stock trading

Headquarters

HQ city

Dar Es Salaam

HQ country

Tanzania

HQ region

Africa

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Securities Trading (Stock Brokerage and Bond Trading): Commission-based revenue from facilitating buying and selling of listed equities and fixed-income securities on the Dar es Salaam Stock Exchange. Revenue is earned on each transaction executed for clients.
2. Investment Advisory Services: Fee-based advisory services providing investment recommendations, share valuation, and market timing advice to individual and institutional clients.
3. Fund Management (UMANDE Brand): Professionally managed investment solutions for institutional and retail investors, generating management fees from assets under management. Offers include the Foresight Private Retirement Fund (FPRF) launched in 2026.
4. IPO and Capital Markets Services: Revenue from acting as Lead Advisor, NOMAD (Nominated Advisor), Co-Sponsoring Broker, and Sponsoring Broker for IPOs and listings on the DSE. Services include prospectus preparation, regulatory liaison, and capital raising facilitation.
5. Registrar and Custodian Services: Account maintenance and custody services charged on a sliding scale based on size and frequency, plus token retainer fees. Includes tax affairs management, dividend processing, and statutory returns.
6. Management Consulting and CPD Training: Professional training and Continuing Professional Development (CPD) programs for financial professionals, delivered through affiliate Consultants for Resources Evaluation Limited.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

CORE Securities Limited is a Licensed Dealing Member of the Dar es Salaam Stock Exchange (Member No. D-007) that facilitates buying and selling of listed equities and fixed-income securities, provides investment advisory with share valuation and market timing, and operates fund management under the UMANDE brand including Collective Investment Schemes and the Foresight Private Retirement Fund. The company also delivers IPO advisory as Lead Advisor, NOMAD, and Sponsoring Broker, plus registrar, custodian, government securities trading, and CPD training services for institutional and retail investors in Tanzania and East Africa.

Product overview

CORE Securities Limited operates as a single unified brokerage platform offering multiple integrated financial services for Tanzania's capital markets. The core offering combines Stock Brokerage and Investment Advisory Services as the primary client-facing products, supported by Fund Management under the UMANDE brand (including the Foresight Private Retirement Fund), Collective Investment Schemes, and Registrar/Custodian Services. Additional services include IPO advisory (as NOMAD, Lead Advisor, or Sponsoring Broker), Government Securities Trading, an Online Trading Platform, Research and Publications, and Professional Training/CPD programs. The company acts as a Licensed Dealing Member of the Dar es Salaam Stock Exchange (Member No. D-007), serving both institutional and retail investors across Tanzania and the broader East African region.

Differentiator

Problem solved

Functional benefit

Products and services

• Stock Brokerage Facilitates buying and selling of listed equities on the Dar es Salaam Stock Exchange, providing clients with access to diversified investment opportunities and professional execution services.
• Investment Advisory Services Provides professional investment advice including share valuation for both quoted and unquoted securities, market timing recommendations, and strategic investment positioning for individual and institutional clients.
• UMANDE Fund Management Licensed fund management brand offering professionally managed investment solutions for institutional and retail investors, promoting financial inclusion, long-term wealth creation, and strategic capital allocation across diverse asset classes.
• Foresight Private Retirement Fund (FPRF) Supplementary pension scheme approved by CMSA, designed for the 96% of Tanzania's population without formal pension access. Features a 5-year vesting period and serves as an umbrella pension scheme for employers seeking to attract and retain staff.
• Collective Investment Schemes (CIS)

Named customers16 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Consultants for Resources Evaluation LimitedcoreStrategic or Co-development PartnerAffiliate company that extends CORE Securities' expertise into management consulting and professional training services. The partnership enables delivery of CPD programs and capacity building initiatives for financial professionals across Tanzania's financial and corporate sectors.

Scale indicators3 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Orbit Securities: Tanzanian Licensed Dealing Member of the DSE offering stock brokerage, investment advisory, and fund management. Directly comparable as a domestic broker with overlapping product set and similar regulatory standing.
• African Securities Limited: Tanzanian Licensed Dealing Member offering brokerage and advisory services on the DSE, comparable in scale and customer mix to Core Securities.
• Solomon Stockbrokers: Tanzania-based stockbroker and investment adviser operating on the DSE, directly comparable in business scope (brokerage, advisory, IPO participation).
• Vertex International Securities: Tanzanian broker-dealer and DSE member providing equity trading and investment advisory. Direct competitor for retail and institutional flow on the DSE.

Regional players

• KCB Capital: Kenyan investment bank subsidiary of KCB Group offering brokerage, advisory, and asset management, comparable in the integrated advisory/AUM model and bank-affiliated structure.
• Faida Investment Bank: Kenyan investment bank offering brokerage, advisory, and asset management across East Africa — competing for cross-border mandates and IPO advisory business.
• Genghis Capital: Kenyan investment bank providing stock brokerage, corporate finance, fund management, and research — directly comparable in the integrated securities-services model Core pursues.
• Dyer & Blair Investment Bank: One of Kenya's oldest stockbrokers and investment advisers, with established brokerage, research, and corporate finance practices — a regional comparable on services and target clients.
• SBG Securities: Kenyan investment bank and licensed broker on the Nairobi Securities Exchange with brokerage, advisory, and asset management. Comparable East African competitor with broader regional footprint.
• Crested Capital: Ugandan stockbroker and investment adviser listed on the Uganda Securities Exchange, providing brokerage, advisory, and fund management — comparable in product mix within East Africa's frontier exchanges.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/core-securities-limited
• Xx.com/coresecurities

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Core Securities