Top 10 DSE Tanzania Stocks to Buy in 2026

Last updated: 15 June 2026 | Reading time: ~9 minutes

The Dar es Salaam Stock Exchange (DSE) has been one of Africa's quietly outstanding markets in 2026. By the close of the first quarter, the DSE All Share Index (DSEI) had climbed to roughly 3,007 points, up about 45% year-on-year, while the domestic Tanzania Share Index (TSI) — which strips out cross-listed foreign counters and tracks only home-grown companies — surged around 85% over the same period to about 9,034 points. Total market capitalisation pushed past TZS 33 trillion, and quarterly equity turnover multiplied several times over as more retail Tanzanians piled in. The headline driver is simple: the country's two giant banks delivered record profits and the biggest dividends in the market's history, lifting sentiment across the board. You can browse every name discussed here on Mansa Markets Tanzania.

For investors, the practical question is which counters to anchor a 2026 portfolio around. The DSE splits neatly between locally-incorporated blue chips — CRDB, NMB, Vodacom, the breweries and cement makers — and cross-listed counters from Kenya and elsewhere. The domestic names are where the dividend yield, liquidity and earnings momentum genuinely sit, which is why the TSI has so dramatically outpaced the all-share gauge. If you want the broader picture first, our guide to the best-performing DSE stocks of 2025 is a useful companion to this list.

One note before we begin: the prices below are point-in-time figures for context (some marked with a tilde, ~). For live prices refreshed through each trading session, open any stock's page or visit Mansa Markets Tanzania — and read the rationale, sector position and dividends as the substance of each pick.

## 1. CRDB Bank (DSE: CRDB)

Sector: Banking & Financial Services | Dividend Yield: ~7-8%

CRDB is the largest bank in Tanzania by assets and the most heavily traded counter on the DSE, and 2026 confirmed its dominance. For the 2025 financial year the group reported profit after tax of about TZS 729 billion, up roughly 32% year-on-year, with total assets crossing TZS 22 trillion and customer deposits and loans both growing more than 30%. That kind of compounding from an already-large base is rare on any African exchange.

On the back of those results the board raised the dividend to TZS 90 per share for 2025, a 38% increase on the TZS 65 paid the year before. Against an approximate share price in the region of ~TSh 1,170, that puts the trailing yield in the high single digits — generous for a stock that is also growing earnings at a double-digit clip. CRDB's regional expansion into Burundi and the Democratic Republic of Congo adds a growth optionality that few Tanzanian peers can match.

Why buy in 2026: The market's biggest, most liquid bank is pairing record profits with a fast-rising dividend, making it the natural cornerstone of any DSE portfolio.

## 2. NMB Bank (DSE: NMB)

Sector: Banking & Financial Services | Dividend Yield: ~4-5%

If CRDB is the volume leader, NMB is the profitability champion. In 2025 NMB became the first bank in Tanzanian history to cross TZS 1.1 trillion in pre-tax profit, with profit after tax of roughly TZS 756 billion. It rewarded shareholders with the largest payout the country's financial sector has ever seen: a combined TZS 610.5 per share, made up of an ordinary dividend of about TZS 504 and a first-ever special dividend of around TZS 106, for a total distribution near TZS 305 billion.

With an approximate share price around ~TSh 13,100, NMB trades far higher in absolute terms than CRDB, but the underlying franchise — a vast branch and agent network reaching deep into rural Tanzania — is exceptionally defensive. The special dividend signals both a strong capital position and a management team confident enough to return surplus cash rather than hoard it.

Why buy in 2026: Record-breaking profits and the biggest dividend in Tanzanian banking history make NMB a premium, blue-chip income holding.

## 3. Tanzania Breweries (DSE: TBL)

Sector: Consumer Staples / Beverages | Dividend Yield: ~5-6%

Tanzania Breweries (TBL), part of the AB InBev global stable, is the dominant brewer and soft-drinks producer in the country and one of the DSE's classic defensive blue chips. Through 2025 the company kept growing the top line — Q3 revenue rose about 10% to roughly TZS 467 billion, with operating profit up 17% — demonstrating the pricing power that comes with category leadership in beer and non-alcoholic beverages.

TBL is also a committed dividend payer, having declared an interim dividend of TZS 529 per share during the year. As a consumer-staples name tied to Tanzania's growing population and rising middle class, it offers earnings that are far less cyclical than banks or cement, providing useful ballast in a portfolio otherwise tilted toward financials.

Why buy in 2026: A wide-moat consumer-staples leader with steady volume growth and reliable dividends — the defensive anchor of the list.

## 4. Vodacom Tanzania (DSE: VODA)

Sector: Telecommunications & Mobile Money | Dividend Yield: ~4-5%

Vodacom Tanzania is the country's leading mobile network operator and, crucially, the owner of M-Pesa Tanzania — the dominant mobile-money platform. For the year to March 2026, total revenue grew about 22% to roughly TZS 1.88 trillion, with M-Pesa revenue up around 24-25% and data revenue up nearly 30%. The prior year's net profit had already jumped about 69%, and shareholders approved successive dividend increases.

The most interesting part of the Vodacom story is the convergence of telecom and capital markets: M-Pesa now hosts the M-Wekeza investment platform and an embedded DSE mini-app, putting share-buying directly into the super-app used by millions of Tanzanians. That positions Vodacom not just as a connectivity play but as a key rail for the retail-investing boom driving the wider market.

Why buy in 2026: Owning M-Pesa gives Vodacom a fintech growth engine on top of its telecom base, with rising revenue and dividends.

## 5. Tanzania Portland Cement / Twiga (DSE: TPCC)

Sector: Industrials / Building Materials | Dividend Yield: ~4-6%

Tanzania Portland Cement Company (TPCC), maker of the ubiquitous Twiga Cement brands, is the market leader in Tanzanian cement and a direct play on the country's infrastructure and construction cycle. Revenue in 2025 was broadly flat at around TZS 414 billion — a reminder that cement is cyclical — but TPCC remains highly cash-generative and a consistent dividend payer, with an approximate share price in the region of ~TSh 7,400.

Tanzania's pipeline of roads, ports, housing and energy projects underpins long-run cement demand, and TPCC's scale and established distribution give it cost advantages over smaller rivals. For investors who want exposure to the real economy beyond banks and beverages, Twiga is the cleanest building-materials proxy on the exchange.

Why buy in 2026: The dominant cement producer offers a cash-generative, dividend-paying way to play Tanzania's infrastructure build-out.

## 6. Tanzania Cigarette Company (DSE: TCC)

Sector: Consumer Staples / Tobacco | Dividend Yield: ~8%

Tanzania Cigarette Company (TCC), 75% owned by Japan Tobacco International, is the country's monopoly-like tobacco manufacturer and one of the highest-yielding counters on the DSE. The company pays a substantial dividend twice a year — recent annual distributions have run around TZS 850 per share, translating into a yield near 8% on recent prices.

TCC is the textbook "bond-proxy" equity: low growth, but extremely stable cash flows and a payout policy that channels most earnings straight back to shareholders. Investors who are comfortable with the ESG considerations of tobacco — and many institutional mandates are not — get one of the most dependable income streams available anywhere on the exchange.

Why buy in 2026: A high, twice-yearly dividend backed by JTI ownership makes TCC a pure income play for yield-focused investors.

## 7. Swissport Tanzania (DSE: SWIS)

Sector: Industrials / Aviation Services

Swissport Tanzania provides ground-handling and cargo services at the country's main airports, making it a leveraged play on Tanzania's tourism recovery and rising air travel. It is a smaller, less liquid counter than the banks, but it has been among the more active movers in 2026 — featuring as a top weekly gainer during the spring trading sessions — reflecting renewed investor interest in travel-linked names.

With Tanzania pushing hard on tourism (Zanzibar, the northern safari circuit and Kilimanjaro) and air freight volumes recovering, Swissport's revenues are tied directly to passenger and cargo throughput. It suits investors who want a thematic, mid-cap exposure to the travel and logistics rebound rather than a pure dividend hold.

Why buy in 2026: A focused mid-cap bet on Tanzania's tourism and air-cargo growth, with recent momentum behind the stock.

## 8. Jubilee Holdings (DSE: JHL)

Sector: Insurance & Financial Services

Jubilee Holdings is one of East Africa's largest and most established insurance groups, cross-listed on the DSE alongside its primary Nairobi listing. It gives Tanzanian investors regional diversification — Jubilee's earnings span insurance and asset-management operations across Kenya, Uganda, Tanzania and beyond — within a single, well-governed counter.

Insurance penetration across East Africa remains low, which gives a scaled, trusted brand like Jubilee a long structural growth runway as incomes rise and the middle class expands. As a financial-services holding company with a long dividend track record, it complements a portfolio's banking exposure with a different, less interest-rate-sensitive earnings stream.

Why buy in 2026: A blue-chip regional insurer offering East African diversification and structural growth as insurance penetration deepens.

## 9. NICO Holdings (DSE: NICO)

Sector: Insurance & Financial Services

NICO Holdings is a diversified financial-services group with insurance, asset-management and banking interests across Southern and East Africa. On the DSE it has stood out in 2026 for sharp share-price moves — it led the weekly gainers' table during the spring sessions with a double-digit jump — signalling rising investor appetite for the counter.

Like Jubilee, NICO offers exposure to the under-penetrated regional insurance and financial-services theme, but with its own distinct geographic and business mix. It is a more speculative, momentum-driven pick than the big banks, and best sized accordingly, but it rounds out the financials sleeve of a diversified DSE portfolio with a name that has been actively re-rating.

Why buy in 2026: A diversified regional financial-services group that has shown strong price momentum and offers differentiated insurance exposure.

## 10. Dar es Salaam Stock Exchange PLC (DSE: DSE)

Sector: Financial Market Infrastructure

The most elegant way to bet on the entire Tanzanian market boom is to own the exchange itself. The Dar es Salaam Stock Exchange PLC is the listed company that operates the bourse, earning fees from trading, listing and market data. When turnover surges — as it did dramatically in early 2026, with quarterly equity turnover up more than 300% — the exchange's revenue benefits directly.

This is a classic "picks and shovels" investment: rather than guessing which individual stock will outperform, you own the toll-collector on all activity. As retail participation deepens, new listings come to market, and M-Pesa-enabled investing brings millions of new accounts, the DSE PLC is structurally positioned to capture a slice of the growth across every other name on this list.

Why buy in 2026: Owning the exchange is a leveraged, picks-and-shovels play on rising turnover, new listings and Tanzania's retail-investing boom.

## How to buy DSE stocks

To invest in any of these companies you'll need a Central Depository System (CDS) account and a licensed Tanzanian broker — our step-by-step walkthrough on how to open a CDS account and buy shares on the DSE in 2026 covers the whole process, and our Dar es Salaam Stock Exchange guide explains how the market works. You can track all ten of these counters, sectors and dividends on Mansa Markets Tanzania.

This article is for informational purposes only and is not investment advice. Prices are approximate, markets carry risk, and you should do your own research or consult a licensed adviser before investing.