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DSE · Tanzania

Best Stockbrokers in Tanzania

The DSE is East Africa's second-most-active exchange after the NSE, with approximately 26 listed companies and growing foreign interest in Tanzania's commodities and consumer goods sectors. Account opening for foreign investors is straightforward; most major Tanzanian banks operate licensed brokerage arms.

Regulator: Capital Markets and Securities Authority (CMSA)
Depository: Central Depository System (CDS)

5 regulated brokers covering DSE

Every broker listed below is licensed by Capital Markets and Securities Authority (CMSA). We do not rank them — order is informational only. Always verify current licensing on the regulator's website before opening an account.

Tanzania Securities Limited

Traditional Broker

Long-established Tanzanian stockbroker. Full DSE equities, fixed income, and corporate finance advisory.

Best for:
Mid-tier and institutional investors
Mobile app:
No
Access:
Foreign investors welcome
Visit Tanzania Securities Limited →

CRDB Stockbrokers

Bank-Affiliated

Brokerage arm of CRDB Bank — Tanzania's largest commercial bank. Bundled banking + DSE execution.

Best for:
CRDB clients and Tanzanian retail investors
Mobile app:
Yes
Access:
Foreign investors welcome
Visit CRDB Stockbrokers →

NMB Stockbrokers

Bank-Affiliated

Brokerage subsidiary of NMB Bank. DSE equities and government bonds with national branch network.

Best for:
NMB clients across Tanzania
Mobile app:
Yes
Access:
Foreign investors welcome
Visit NMB Stockbrokers →

Orbit Securities

Traditional Broker

Independent Dar es Salaam–based stockbroker. DSE equities, fixed income, and IPO underwriting.

Best for:
Investors wanting an independent broker
Mobile app:
No
Access:
Foreign investors welcome
Visit Orbit Securities →

Solomon Stockbrokers

Traditional Broker

Boutique Tanzanian brokerage offering DSE execution and advisory.

Best for:
Retail investors and SMEs
Mobile app:
No
Access:
Foreign investors welcome
Visit Solomon Stockbrokers →

How to open an account on the DSE

  1. 1

    Open a CDS account

    Tanzania's Central Depository System holds all DSE shares. Open through any CMSA-licensed broker.

  2. 2

    Get a TIN

    Tanzania Revenue Authority Tax Identification Number is required. Non-residents apply via the TRA portal or through the broker.

  3. 3

    Choose foreign or local investor status

    Foreign investors are subject to a 10% withholding tax on dividends (vs 5% for residents). Account category is set at opening.

  4. 4

    Fund and trade

    TZS funding via Tanzanian bank account. Most brokers accept inbound SWIFT wires from non-residents.

KYC documents you'll need

  • Valid passport
  • TRA Tax Identification Number (TIN)
  • Proof of address
  • CDS account opening form
  • Source-of-funds declaration

Fees and tax

Dividend withholding tax — residents5%
Dividend withholding tax — non-residents10%
Capital gains taxGenerally exempt on listed equity
Typical brokerage commission1.0% – 1.7%

Fees and tax rates are indicative and change. Verify current rates with your broker and the latest Finance Act before transacting.

Frequently asked questions

Can foreigners invest in DSE-listed stocks?

Yes, with no general participation limits. A few strategic sectors (mining, banking) have ownership caps, but the broader market is open.

What is the minimum to open a DSE account?

Most brokers accept retail accounts from TZS 100,000+. Bank-affiliated brokers may set higher thresholds for institutional accounts.

Are Tanzanian government bonds available?

Yes. Bank of Tanzania auctions T-bills and T-bonds regularly; CRDB, NMB and Tanzania Securities all participate in these auctions on behalf of clients.

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