How to Buy Shares on the Dar es Salaam Stock Exchange
Buying shares on the Dar es Salaam Stock Exchange (DSE) is more straightforward than most first-time investors expect. You don't trade directly on the exchange; you go through a licensed broker who places orders on your behalf. This guide walks through the whole process in plain language.
Information and education only; not investment advice. This explains how the mechanics work, not what to buy.
Do I need a broker to buy shares on the DSE?
Yes. DSE trading requires a licensed market route. A Licensed Dealing Member (LDM); a stockbroking firm authorised by the exchange and regulated by the Capital Markets and Securities Authority (CMSA); can carry an order to market. The DSE also says its MTP mobile app can be used to open a CDS account and place an order. Always confirm the provider's current licence in the official registers before sending money.
What is a CDS account and how do I open one?
A CDS (Central Depository System) account is the electronic account that holds your shares; the equivalent of a securities wallet. You open one through your chosen broker:
- Request the CDS account-opening form from a licensed broker.
- Complete the KYC ("Know Your Client") form; it asks for your ID (passport or national ID; a driver's licence may be accepted), your address, and your preferences for receiving dividends and paying fees.
- Return the forms with your ID documents. The broker assigns you a CDS account number.
The DSE says its MTP mobile app can be used to open a CDS account and place an order. A non-resident should still ask the chosen provider which identity, certified-document, tax, banking and funding requirements apply before sending money. Digital access does not guarantee that every provider or instrument is available to every investor.
Can a non-resident buy Tanzanian securities?
Yes, subject to the governing rules and the approved intermediary's operational requirements. Government Notice No. 206, published on 17 July 2026, says a non-resident may purchase, sell or transfer securities in Tanzania in accordance with the Foreign Exchange Regulations.
The Bank of Tanzania's notice dated 6 August 2026 specifically confirms that all non-resident investors may invest in Tanzanian government Treasury bills and bonds through approved Central Depository Participants. The amendment establishes legal eligibility; it does not by itself open an account, complete KYC, make every instrument available or settle a transaction. Read our 2026 non-resident access explainer for the rule boundary.
How do I actually place a buy order?
For most brokers, you simply email your broker your trade instruction; the share (ticker), the number of shares, and any price limit. The broker executes the order on the DSE and sends you a contract note confirming the price, commission and fees. Some brokers also offer online or app-based ordering.
What does it cost to buy shares on the DSE?
The DSE's current FAQ states that maximum total brokerage fees are 2.3768% of the consideration. That figure includes the charges described by the exchange; ask the broker for a current, itemised quote before placing an order because fees and taxes can change.
How long does settlement take?
The DSE's current FAQ states that equity transactions settle electronically through the CDS on T+3; three business days after the trade date. Other instruments and provider processes may follow different timetables, so confirm the settlement date on the contract note. Settled shares sit in the CDS account, and declared dividends follow the registered payment instructions.
A note on liquidity
The DSE is a thinner market than large global exchanges. Outside the banking counters, daily volumes can be light, and block trades drive much of the index movement. That means large orders can move the price, and some shares trade infrequently; worth understanding before you place an order. See our DSE equities board for liquidity context on each listed name.
Where to go next
- Browse the companies we cover for sourced, plain-English profiles.
- Understand the market backdrop on the Markets hub.
- Get the free daily Brief to follow the DSE without the noise.
Information and education only. Nothing here is investment, legal or tax advice, a recommendation, or an offer to buy or sell any security. Confirm any broker's current licence with the CMSA/DSE before transacting. Eligibility, fees and settlement timelines may change; verify with the authorities and your provider.
Sources: DSE FAQs; CSDR Licensed Brokers; CMSA register of licensees; Foreign Exchange (Amendment) Regulations, 2026; G.N. No. 206; Bank of Tanzania public notice. Process facts checked 6 August 2026.