Tanzania · Dar es Salaam Stock Exchange
Tanzania Stocks & the DSE
Unlike Tanzania's government securities, the Dar es Salaam Stock Exchange is fully open to foreign investors — and tax-friendly for ordinary shareholders. Here is how to start, what it costs, and how shares are taxed.
- Exchange
- Dar es Salaam Stock Exchange (DSE)
- Where to buy
- A licensed DSE broker
- Account
- A CDS account
- Foreign ownership
- Open — cap removed in 2014
- Dividends tax
- 5% on DSE-listed shares
- Capital gains
- Exempt under a 25% holding
01The Dar es Salaam Stock Exchange, in short
The DSE is Tanzania's stock market, where you can buy part-ownership of listed companies — banks, breweries, telcos and more — and share in their profits through dividends and price growth. Shares are held electronically in a CDS account in your name.
For live prices and the list of companies, see the Dar es Salaam Stock Exchange.
02How to buy shares in Tanzania
- 1
Choose a licensed broker
Pick a DSE Licensed Dealing Member (a stockbroking firm). Foreign and diaspora investors usually choose one that also offers custody.
- 2
Open a CDS account
Open a Central Depository System account through the broker, providing your national ID (NIDA) or passport, a TRA Tax Identification Number and passport photos. Opening it is free.
Foreign or diaspora investor? See below ↓ - 3
Fund your account
Deposit funds with your broker. For local orders the DSE requires payment upfront, before the order is placed.
- 4
Place an order
Tell your broker which shares to buy; they post the order on the DSE's trading system during trading hours.
- 5
Settle and hold
Once your order is matched the shares are credited to your CDS account, and dividends are paid to your bank account.
Often unclear — here's the answer
For foreign & diaspora investors
- Foreign ownership is open. Tanzania removed its 60% foreign-ownership cap on listed shares in 2014, so non-residents can buy any amount of DSE-listed shares — even a majority, with DSE and CMSA approval for a substantial stake.
- You'll need a CDS account and a TRA TIN. Open a Central Depository System account at a commercial bank or licensed broker — with a national ID or passport, photos and a Tanzania Revenue Authority TIN.
- Capital gains: exempt under 25%. Tanzania does tax capital gains (10% for residents, 20% for non-residents), but gains on DSE-listed shares are exempt when you control less than 25% of the company — which covers ordinary investors.
- Dividends: 5% on listed shares. Withholding tax on dividends from DSE-listed companies is 5%, for residents and non-residents alike — half the 10% rate on unlisted companies.
- Repatriation works, but it's documented. Tanzania keeps active foreign-exchange controls. Dividends and sale proceeds can be remitted with the right paperwork — audited accounts and tax clearance — so plan ahead with your broker or bank.
Rules and rates change — verify against the Bank of Tanzania, DSE, CMSA and TRA before you commit. This is information, not tax or investment advice.
03Dividends & tax
Three things shape what you keep from a Tanzanian share:
- Dividends from DSE-listed companies are taxed at 5% withholding, for residents and non-residents alike — half the 10% rate on unlisted companies.
- Capital gains are taxable (10% for residents, 20% for non-residents), but DSE-listed shares are exempt when you control less than 25% of the company — so most investors pay none.
- Each trade carries a brokerage commission on a sliding scale, standard across all brokers.
04Common questions
How do I start buying shares in Tanzania?
Open a CDS account through a licensed DSE broker, deposit funds with the broker, and place a buy order. The shares are then held electronically in your CDS account.
Do I pay capital gains tax on DSE shares?
Tanzania does tax capital gains — 10% for residents, 20% for non-residents — but gains on shares listed on the Dar es Salaam Stock Exchange are exempt when you control less than 25% of the company, which covers ordinary investors.
How are dividends from Tanzanian shares taxed?
Dividends from DSE-listed companies are taxed at 5% withholding, for residents and non-residents alike — half the 10% rate that applies to unlisted companies.
Can foreigners buy shares on the DSE?
Yes. Tanzania removed its 60% foreign-ownership cap on listed shares in 2014, so non-residents can buy any amount — even a majority with DSE and CMSA approval. Note that Tanzania keeps foreign-exchange controls, so repatriating proceeds needs documentation.
Shares, bonds and bills — one honest number.
Tamias totals every DSE share, treasury bond and bill you own across Tanzania and East Africa, computes your true return after tax and costs, and nudges you before every dividend and maturity.
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