The Dar es Salaam Stock Exchange (DSE)
turnover has increased by 2.5 per cent to push up stakeholders gains in
this year’s second quarter.
The turnover increased from 278bn/- in
quarter one to 285bn/- in quarter two, despite domestic market
capitalisation drop of 3.0 per cent.
‘Daily News’ computation taking the
lowest commission fee of 0.8per cent, times the total turnover of the
quarter, shows that stock brokerage firms pocketed at least 2.28bn/- in
transaction fees.
When the amount is divided equally to the ten licensed brokerage firms, each pockets 228m/- per quarter or some 76m/- per month.
However, the amount may not be exactly the same as share sale has three commissions depending on amount transacted.
According to DSE, commission for less
than 10m/- is 1.7 per cent, next to 40m/- is 1.5 per cent and above
50m/- is 0.8 per cent. On the same note, DSE has made some 798m/- in the
second quarter or 266m/- each month. DSE receives commission of 0.28
per cent.
The DSE Second Quarter report shows that
domestic market capitalisation decreased by 3.0 per cent from 10.2tri/-
at end of March to 9.9tri/- as of end of June.
“This is a reverse to a similar
situation in quarter one of 2015 versus quarter four of 2014,” the
bourse chief executive officer, Mr Moremi Marwa, said on the report
yesterday. “DSE recorded a decent quarter two performance, albeit with
mixed outcomes....,” he said.
The domestic market cap decline is
partly attributed to the depreciation of shilling which had a negative
impact on investors’ returns, as measured in greenback.
As a result, the
report shows, foreign investors’ activities fell from 91 per cent to 86
per cent on the buy-side and from 77 per cent to 41 per cent on the
sell-side from previous quarter to this quarter respectively.
The DSE Index - measuring total market
capitalisation - recorded a growth of 5.0 per cent, from 22.7tri/- at
the close first quarter to 23.9trio/- at the end of second quarter.
The DSE top priorities during the coming
quarter include introduction of mobile and internet trading in bourse
platform and encourage more listings.
Others are public education and
awareness, integrating and synchronising DSE Central Securities
Depository (CSD) to that of Bank of Tanzania (BoT) for government bonds
trading.
The bourse demutualisation processes is
now at the advanced stage and expect IPO and self-listing by end of next
year quarter one.
The demutualisation initiative aims at
enhancing our governance structure, provide DSE with efficient financing
options for its future growth and also increase DSE’s capability to
respond effectively on current and future market needs.
Source: Daily News, reported from Dar es Salaam, Tanzania
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