Tanzania | DSE

Equity turnover for the year 2022 grew by 28% to a total of TZS 133bln compared to TZS 104bln realized during 2021. The financial sector dominated activities on the market while CRDB and NMB collectively accounted for 57% of the total equity turnover (See Appendix). Foreign investments for the year accounted for 49% of the total investments while foreign divestments accounted for 51% of total divestments, leading to a net outflow of TZS 2.9bln ($1.25mln).

Along with the overall banking sector in Tanzania, CRDB Bank Plc reported impressive results for the year 2022, a 31% profit growth while the earnings per share grew from TZS 103/- in 2021 to TZS 135/- in 2022. The annual net profit jumped from TZS 268.2 billion in 2021 to TZS 351.4 billion in 2022, as a result of growing both, interest and non-interest income streams.

The bank has reported an impressive 46% growth in earnings per share from TZS 584/- in 2021 to TZS 858/- in 2022. At the same rate net profit after tax increased from TZS 292.1 billion in 2021 to TZS 428.9 billion in 2022. Interest income reached TZS 953.7 billion 16.9% increase from that of 2021, primarily a result of ballooning earning assets which grew by 22% year on year to hit TZS 8.2 trillion in 2022. The loan portfolio led the growing streak, gaining 29% to TZS 6.02 trillion, while investment in government securities went by 11.6% to TZS 1.94 trillion.

TOL Gases Limited (DSE:TOL) was founded in 1950 as a branch of South Africa’s African Oxygen and Acetylene Company (AFROX). It became part of the BOC Gases Group in 1965, as branch of the Kenyan East Africa Oxygen Limited. After BOC divested from Tanzania during its reorganization in 1986, the government assumed full ownership and management of the business. As part of its policy of disengagement from commercial ventures in the 1990s, the Tanzanian government sold a majority of its shares to a strategic investor and the public on the Dar es Salaam Stock Exchange in 1998, making TOL Gases the first listing in Tanzania. As of 31st Dec 2021, the Massawe Estate owned about 27% of TOL through various beneficiaries including Erncon Holding Ltd. The public owns 28% while the government, through the Treasury Registrar, still owns 6% of the company.

As of 31st Dec 2021, majority (83%) of NICOL was owned by the general local public while foreign investors owned 2.93%. The largest single shareholder, PSSSF, owns 9.2% and is the only shareholder with a holding of more than 3% of the Company. NICOL was first listed on DSE on July 15, 2008, and delisted three years later, on July 6, 2011 due to lapses in observation of Continuous Listing Obligations. It was relisted on the Dar es Salaam Stock Exchange (DSE) on June 6, 2018 after a series of court cases that replaced the board and management.

The government is the largest shareholder, holding 15% of the Exchange, followed by Brianwood Capital Partners with 12% ownership. DSE has one fully owned subsidiary, Central Securities Depository & Registry (CSDR), formed in January 2017 to provide clearing, settlement and registry services for financial securities. As of 2021, the subsidiary accounts for 13% of the company’s total revenue.