Dar bourse flush with cash from CRDB share trades
Saturday January 14 2023
A trader at the Dar es Salaam Stock Exchange in Tanzania. FILE PHOTO | NMG
The Dar es Salaam Stock Exchange (DSE) collected billions of shillings in total turnover in one day’s trade this week, thanks to CRDB shares traded in 125 deals.
Up to Wednesday, the DSE collected Tsh1.18 billion ($503,636) total turnover from 3,029,223 shares traded in 143 deals and Tsh21.35 billion ($9.11 million) from bonds in five deals.
The CRDB counter had 3,019,855 shares traded at weighted average price of Tsh385 ($0.16) per share in 125 deals. CRBD collected over 1.157 billion despite a fall in its share price to Tsh385 ($0.16) per share from Tsh400 ($0.17) previously.
Movement also came from four other counters — NMB, National Investments Company Ltd (NICO), Twiga Cement, Tanzania Portland Cement company, and the bourse itself.
The DSE counter, bagged Tsh1.088 million ($464.37) from 640 shares traded at weighted average price of wTsh1,700 ($0.73) per share in five deals. NMB counter recorded a good business day with Tsh23.05 million ($9,839.57) having 7,418 shares traded at weighted average price of Tsh 3,100 per share in 8 deals.
NICO saw 1,300 shares traded at weighted average price of Tsh325 ($0.14) per share in 4 deals and collected a total of Tsh421,000 ($179.69) total turnover.
Whereas TPCC’s shares traded at weighted average price of Tsh3,800 ($1.62) per share in 1 deal, the counter had 10 shares.
Data from DSE shows only three counters experienced price change, for which cross-listed firm Nation Media Group’s share prices slightly rose 1.69 percent to Tsh300 ($0.13) from Tsh295 ($0.12) opening price. While CRDB’s share price shrunk by 3.75 percent to Tsh385 ($ 0.16) per share from Tsh400 ($0.17) and KCB’s dropped to Tsh1.37 percent to Tsh720 ($0.3) per share from Tsh730 ($0.31) recorded in the previous trading.
Also, Dar continued to record progress on both Corporate and Government Bonds and as of, January 11, recorded Tsh21.35 billion ($9.11 million) from bonds traded in 5 deals.
The government securities market is poised to improve further after passing of the Foreign Exchange Regulations, 2022 permitting residents of SADC and EAC to participate here, and after hints for alternative financing of public projects..