Tanzania's DSE turnover shoots up in Q1

The Dar es Salaam Stock Exchange (DSE) turnover has increased almost two-folds by 93 per cent to 278bn/- in the first quarter 2015 from 144bn/- of the previous quarter that ended in December 2014.

The DSE Chief Executive Officer, Mr Moremi Marwa (pictured), said in a statement in Dar es Salaam that year on year basis, the first quarter’s turnover was almost 7 times compared to the corresponding quarter of only 42bn/-.

“The DSE 2015 first quarter has been very successful. Once again for the seventh consecutive quarters, DSE was ranked as one of the exchanges in Africa that delivers high returns to investors on its listed stocks,” he said.

“Wealth enhancement as measured by increase in market investment value and liquidity levels, as measured by market turnover or volume of transactions, increased at relatively significant levels.”

The valuation levels, according to the DSE boss, have also increased in the period under review to the trailing Market Price Earning Ratio (PER) of 17.98 times, as of end of March from the trailing P

As for the bonds market segment, he said significant increase was recorded during the quarter with bonds trading turnover inching to 167bn/- face value, at the cost of 136bn/-, compared to only 30bn/-the previous quarter.

However, despite the positive performance in most measures in terms of the investors’ returns, liquidity, increased efficiency and public and investors’ education, a lot has to be done in this year in order to bring the market to the new heights.

“Our top priority is to introduce mobile and internet trading in the platform, encourage more listings, public education and awareness creation, integrating and synchronising the Central Securities Depository (CSD) to that Central Bank for government bonds trading and demutualisation of DSE,” he said.

He credited all DSE stakeholders for accompanying in the bourse’s strategic journey of enhancing the quality of its products and services.
ER of 16.50 times as of December last year. The DSE’s market PER is on similar levels as others in the region.
Source: Daily News, reported from Dar es Salaam, Tanzania
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