Dar es Salaam bourse named Africa's best performing bourse

The Dar es Salaam Stock Exchange (DSE) has been declared as the best performing bourse in Africa in 2014, in terms of growth of its market capitalisation.

Analysts reported that DSE's total market capitalisation registered a growth of 40 per cent, while domestic stocks grew by 66 per cent during the year, becoming the best performer on the continent.

The DSE Chief Executive Officer, Mr Moremi Marwa (pictured), said the results were according to surveys by three globally reputed financial media houses -- Bloomberg, Thomson-Reuters and CBS.

"The estimates of Bloomberg, Reuters, and CBS News put DSE as the best performing equity market in Africa in term of market capitalisation this year," Mr Marwa said. All share market cap, according to Mr Marwa, has gone up from 16tri/- in 2013 to 22tri/- of this year.

The Tanzania listed equities market cap has also increased from 6.0tri/- to 9.7tri/-. The CEO also said apart from market cap, this year was the best as the bourse managed to list three domestic companies and one cross listed from Kenya.

"This is the first time in DSE history to list four companies in a single year," Mr Marwa said.

He named the companies as Maendeleo Bank, Mkombozi Commercial Bank, and Swala Energy which their IPO subscriptions were successful, but the latter was the best. Uchumi Supermarket cross-listed from Nairobi Stock Exchange, in Kenya.

DSE also expects to list three more companies in next year's first quarter should everything go as planned. 

The total number of domestic listed companies on DSE at the end of this year increased to 21, of which 14 are domestic, six cross listed from Nairobi Stock Exchange and one from London Stock Exchange.
Source: Daily News, reported by Abduel Elinaza from Dar es Salaam, Tanzania
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