Tanzania: DSE slows down for Xmas

The week-on-week turnover at the Dar es Salaam Stock Exchange (DSE) dropped by 67 per cent last week as investors shift their attention to the festive season.

The turnover dropped to Sh12.7 billion during the week ending December 18, 2015 compared with Sh38.91 billion that was registered during the week ending December 11, 2015, market data shows.

Once again, the Tanzania Breweries Limited (TBL) emerged as the most traded equity last week, thanks to a splendid participation of foreign investors. “Basically, the demand and supply for TBL’s shares is stable to/and by both local and foreign investors and this is what differentiates the beer brewer to other equities,” the Zan Securities chief executive officer, Mr Raphael Masumbuko told The Citizen yesterday.

Besides, investors see the maker of Kilimajaro Lager as one of the best performing firms, no wonder its share price has remained high during all the past years.

TBL controlled 85.17 per cent of this week’s total turnover, while TPCC and CRDB contributed 3.13 per cent and 1.53 per cent respectively in a trading week where local investors accounted for only Sh459.38 million of the weekly turnover.