TRADE at the Dar es Salaam Stock Exchange (DSE) increased by over 20 times in the first quarter of 2015 compared to the corresponding period last year, thanks to the current account liberalisation initiative.
DSE’s Programmes and Projects Manager, Mr Magabe Maasa, said in an interview in Dar es Salaam on Wednesday that foreign participation in the market since January has been impressive to drive the market to the new heights.
“The liberalisation of current account has given investors confidence in buying and selling shares at the Dar es Salaam bourse, thus making the market more vibrant,” he said, adding that the trade during the period was between foreign investors.
Tanzania liberalised its current account last year, the move that opened door for foreign investors, particularly from across the East African region to participate in the equity markets.
According to the market report, turnover from shares bought by foreign investors increased to 243.31bn/- compared to 11.02bn/- of the period ended March 2014, with foreign investors dominating by 95.59 per cent while local investors 4.41 per cent.
Also in the period under review, turnover from shares sold by foreign investors increased to 195.92bn/- compared to 2.36bn/- of the corresponding quarter 2014, with foreign investors dominance by 76.97 per cent while local investors 23.03 per cent.
Meanwhile, DSE on Tuesday recorded a total turnover of 224.23m/- from 467,944 shares traded in 78 deals compared to the previous session which recorded a turnover of 165.95m/- from 240,450 shares traded in 74 deals.
CRDB counter had 462,236 shares traded at weighted average price of 400/- per share in 45 deals. NMB counter had 3,041 shares traded at weighted average price of 4,290/- per share in five deals.
DCB counter had 130 shares traded at weighted average price of 885/- per share in three deals. TBL counter had 1,143 shares traded at weighted average price of 14,500/- per share in 11 deals.
TCC counter had 260 shares traded at weighted average price of 17,110/- per share in seven deals. SIMBA counter had 300 shares traded at weighted average price of 4,430/- per share in one deal.
TWIGA counter had 14 shares traded at weighted average price of 3,880/- per share in two deals. SWISSPORT counter had 640 shares traded at weighted average price of 5,440/- per share in three deals. SWALA counter had 180 shares traded at weighted average price of 600/- per share in one deal.
