About Dar es Salaam Stock Exchange
Historical Background
Year Activity
1996 Incorporation of the Dar es Salaam Stock Exchange and approval of Stock Exchange Rules
1997 Publication of Collective Investment Scheme Regulations
1998 Start of operations of the DSE with the first privatization and listing of state owned entity
1999 Installation of the Central Depository System at the Exchange and Listing of the first corporate debt
1999 Issuance of Guidelines for the Issue of Corporate Bonds
2002 Listing and start of trading of Treasury Bonds at the Exchange
2004 Cross listing of the first foreign company and the listing of the first airline company
2006 Deployment of Automated Trading System linked with a new three tier Central Depository System
2008 Listing of the first commercial bank 2011 Listing of the first mining company
2011 Publication of Regulations to govern introduction of Real Estates Investment Trusts
2013 Migration to the new efficient Automated Trading System and Central Depository System
2013 Launching of the second tier market: EGM – Enterprise Growth Market (EGM)
2013 Listing of the first company on EGM
2014 Deployment of ATS on the Wide Area Network and start of remote trading by brokers
2014 Uplifting of Foreign Investors Limits Regulations 2014 Introduction of DSE Scholar Investment Challenge
2015 Introduction of the regulatory framework and subsequent use of mobile phone technology in IPOs (Equity and Debt) and Secondary Trading
2015 DSE Demutualization and Re-incorporation into a Public Limited Company DSE IPO and Self-Listing; DSE joined the world federation of exchange
2016 Supporting United Nations Sustainable Stock Exchanges initiative; DSE Initiated the DSE Members Award.
2017 DSE listing of Vodacom Tanzania Plc the first and the largest telecom company in the country.
2018 Full operationalization of the Subsidiary Company, CSDR Company Ltd
2019 Introduction of DSE Enterprise Acceleration Program to build SMEs capacity
2020 Launching of DSE Hisa Kiganjani – Mobile Trading Platform
2020 Listing of JATU by Introduction of Shares
BOARD OF DIRECTORS
The DSE PLC is governed by the Board of Directors. The number of Directors is between 5 to 9 directors i.e., not less than 5 and not more than 9 directors.
According to the DSE PLC Articles of Association every block of 10% of the issued and fully paid share capital of the company is entitled to nominate one director.
VISION
To be a sustainable securities exchange that is an engine of economic growth for Tanzania.
MISSION
To provide a responsive securities exchange that promotes economic empowerment and contributes to the country’s economic development through offering a range of attractive and cost-effective products and services.
Central Depository System
The Central Depository System (CDS) of the DSE acts like a bank for securities where various securities are deposited in safe custody to facilitate deliveries for DSE trades. By depositing securities into the CDS, the delivery of the securities in settlement of DSE trades can be achieved by electronic book entries instead of physically exchanging certificates (scrip). The securities deposited into the CDS may be pledged against a bank loan.
Trading System
Trading is conducted through an Automated Trading System (ATS). This is an electronic system which matches bids and offers using an electronic matching engine. The ATS is integrated with the CDS to facilitate automated validation of securities holdings and straight through processing of securities transactions.
Incentives to Issuers
(i) Reduced corporation tax from 30% to 25% for three successive years subsequent to listing of a company that have issued at least 25% of its shares to the public.
(ii) Tax deductibility of all Initial Public Offering (IPO) costs for the purposes of income tax determination. All IPO costs are accepted by the Tanzania Revenue Authority (TRA) as acceptable expenses used in the generation of income and profits, and therefore are taken into consideration when determining profit for tax purposes.
Incentives to Investors
(i) Zero capital gain tax as opposed to 10% for unlisted companies.
(ii) Zero stamp duty on transactions executed at the DSE compared to 6% for unlisted companies.
(iii) Withholding tax of 5% on dividend income as opposed to 10% for unlisted companies.
(iv) Zero withholding tax on interest income from listed bonds whose maturities are three years and above.
Dar es Salaam Stock Exchange Location and Contact Information
Dar es Salaam Stock Exchange,
3 rd Floor, NHC Corporate Office, Kambarage House,
6 Ufukoni Street,
P. O. Box 70081, Dar es Salaam, Tanzania
Tel: 255 22 2123983, 2128522
For Complains, WhatsApp: 0747 536 696 Email: [email protected]
Fax: +255 22 213384
Email: [email protected]
Website: http://www.dse.co.tz
Vacancies and Internships at Dar es Salaam Stock Exchange – Dar es Salaam Stock Exchange
Dar es Salaam Stock Exchange job vacancies are normally advertised through the Official Dar es Salaam Stock Exchange jobs portal which can be accessed through this link-. https://dse.co.tz/
Find and apply for jobs advertised by Dar es Salaam Stock Exchange by browsing the links listed below
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Dar es Salaam Stock Exchange useful links
- Dar es Salaam Stock Exchange website: https://dse.co.tz/
- Dar es Salaam Stock Exchange job vacancies – careers page: https://jobs.dse.co.tz/
