DAR ES SALAAM. Tanzania is preparing to list up to five state‑owned enterprises (SOEs) on the Dar es Salaam Stock Exchange (DSE) by the end of the 2026/27 financial year, in a significant step towards deepening the country’s capital markets and broadening public participation in state‑owned assets.
The announcement was made by Nehemia K. Mchechu, the Treasury Registrar, during the closing ceremony of the 13th Building African Financial Markets (BAFM) Forum in Dar es Salaam. He confirmed that internal assessments have been completed and eligible corporations instructed to begin preparations for listing.
“We have completed the internal analysis on which corporations will be brought to the market and instructed them to start preparing for the listing process. At this initial stage, we are targeting two public corporations, but if everything goes according to plan, we hope to list four or even five state firms,” Mchechu said.
He added that the names of the companies will be announced only after approvals from the Capital Markets and Securities Authority (CMSA) and the DSE.
Expanding Investment Opportunities
The proposed listings are expected to provide both domestic and international investors with new opportunities to participate in the ownership of commercially viable public enterprises while enabling the companies to raise long‑term capital for expansion.
The initiative also aligns with Tanzania’s broader efforts to strengthen corporate governance, improve transparency, and diversify financing sources beyond traditional government funding.
Building a Deeper Capital Market
The announcement comes as the DSE marks 30 years since its establishment, having grown into a market with 28 listed companies, a market capitalisation exceeding TZS 35 trillion, and about 870,000 investors. The exchange has mobilised more than TZS 1.5 trillion through equity issuances, reflecting its expanding role in financing economic growth.
Market participants say additional SOE listings could improve market liquidity, increase the supply of investable securities, and attract greater participation from pension funds, institutional investors, and retail shareholders.
Investor Outlook
Across emerging markets, stock exchange listings of state‑owned enterprises have often been used to improve operational efficiency, enhance corporate accountability, and attract private investment while allowing governments to retain strategic ownership.
For Tanzania, the planned listings could mark another milestone in the development of its capital markets and provide investors with access to sectors that have traditionally remained outside the public equity market.
For investors, the message is clear: Tanzania is expanding the depth of its capital market and creating new opportunities for long‑term investment as it opens selected state‑owned enterprises to public ownership.
