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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 to 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 Limited

Traditional Broker

A founding member of the Dar es Salaam Stock Exchange (1998), serving clients since 1996. Licensed by Tanzania's CMSA as a stockbroker/dealer, investment adviser and fund manager, and a Bank of Tanzania primary dealer in government securities.

Best for:
Institutional, high-net-worth and retail investors
Mobile app:
No
Access:
Foreign investors welcome
Visit Solomon Stockbrokers Limited →

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% to 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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