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uarterly Update THE DAR ES SALAAM STOCK EXCHANGE

THE DAR ES SALAAM STOCK EXCHANGE - QUARTERLY UPDATE

ISSN No. 0856 8448 ISSUE No. 64 MARCH, 2015

Q

CEO’s MEssagE

Greetings!

For the DSE, 3rdt Quarter (Q3) of Financial Year 2014/2015 was a very successful quarter. Once again for the seventh consecutive quarters, DSE was ranked as one of the Exchanges in Africa that delivers high returns to investors on its listed stocks. Wealth enhancement (as measured by increase in market investment value) and liquidity levels (as measured by market turnover or volume of transactions) increased at relatively significant levels. Domestic market capitalization and indices (which covers the 14 local listed companies) increased by 3 percent compared to the loss of 10 percent in the previous quarter (October-December 2014). Market capitalization and indices (covering all 21 listed companies) also increased by 3 percent. Year-on-year (y-on-y) growth in domestic market capitalization and indices was at 64 percent and 36 percent for the total market capitalization and indices. The domestic market capitalization increased from TZS 9.9 trillion as of end of December to TZS 10.2 trillion as of 31st March 2015. The total market capitalization also increased from TZS 22.3 trillion as end of December 2014 to TZS 22.7 trillion as of end of March 2015. The relatively better performance of the total market indices and total market capitalization was a result of good fundamental performance of the underlying companies, relatively good dividend payments and positive sentiments and outlook by investors. Liquidity (turnover) increased almost two-folds (i.e. 93 percent) – from TZS 144 billion the previous quarter (Q4, 2014), to TZS 278 billion Q1, 2015. On the y-on-y basis, this quarter’s turnover was almost 7 times compared to Q1, 2014, where turnover was TZS 42 billion. Valuation levels have also increased in the quarter, from the trailing Market Price Earnings Ratio (PER) of 16.50 times as of close of month end December 2014 to the trailing PER of 17.98 times as of end of March. The DSE’s market PER is on similar levels as others in the region. As for the bonds market segment – there was also a significant increase in the quarter: bonds trading turnover reached TZS 167 billion -- face value, (cost of TZS 136 billion), compared to just TZS 30 billion the previous quarter. Despite the positive performance in most measures: i.e. investors’ returns, liquidity, increased efficiency and public/investors education; we understand that much is still demanded from us in 2015. Our top priority is to introduce mobile and internet trading in our platform, encourage more listings, public education and awareness creation, integrating and synchronizing our Central Securities Depository (CSD) to that of Bank of Tanzania for government bonds trading and demutualization of DSE. We thank all DSE stakeholders for accompanying in our Strategic Journey of enhancing the quality of our products and services.

Thank You.

INSIDECEO’s MEssagE

ECOnOMiC rEviEwa) Economic Trend

MarkET rEpOrTa. EquitiesB. Bonds

nEw LisTings

sTraTEgiC DEvELOpMEnTaLMaTTErs

invEsTOr EDuCaTiOn & puBLiC awarEnEss iniTiaTivEs

COrpOraTE aCTiOns

sTaTisTiCs & CharTs

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THE DAR ES SALAAM STOCK EXCHANGE - QUARTERLY UPDATE THE DAR ES SALAAM STOCK EXCHANGE - QUARTERLY UPDATE2

2) ECOnOMiC rEviEw

a) interest rates Trend During the quarter the Weighted Average Yields

(WAY) on treasury bills decreased from 15.74 percent in December, 2014 to 9.04 percent in March, 2015. The Chart below shows the T-Bill weighted average yield (WAY) trend.

B) inflation Developments Annual headline inflation was 4.8 percent in

December 2014, moved down to 4.0 percent in January 2015, then up to 4.2 percent in February, 2015 before settled at 4.3 percent in March, 2015.

C) Exchange rates Trends The shilling depreciated against the USD by

3.61 percent to an average of TZS 1,788.07 per USD from TZS 1,725.78. in December 2014. On annual basis the shilling depreciated by 9.65 percent from average of TZS 1,630.70 per USD in March 2014.

3) MarKET rEPOrT

a) EQUiTiEs Total Market Capitalization & Indices The Market Capitalization grew by 2.96 percent

from TZS 22,090.39 billion as of 30th December 2014 to TZS 22,743.30 billion as of 31th March 2015.

DSE All Share Index1 gained 76.62 points (or 3%) to settle at 2,596.26 points at the end of the quarter (31th March 2015) from 2,519.64 points in the previous quarter (31th December, 2014).

An increase in DSE All Share Index was mainly attributed to appreciation of share prices of both domestic and cross-listed companies. The following counters appreciated by at least 1.61 percent: SWISSPORT (31.54 percent), JUBILEE (25.26 percent), DCB (18.06 percent), UCHUMI (10.53 percent), KCB (9.26 percent) TBL (6.46 percent), TOL Gases (5.45 percent), NMB Bank (2.94 percent) and TCC (1.61 percent).

Domestic Market Capitalization & indicesThe Domestic Market Capitalization grew by 3.13 percent from TZS 9,925.45 billion in Q4, 2014 to TZS 10,235.93 billion in Q1, 2015. Equally, Tanzania Share Index rose by 3.37 percent from 4,672.57 points as at the end of December 2014 to 4,830.10 points as at the end of March 2015. The gain was attributed to appreciation of share prices on SWISSPORT, DCB, TBL, TOL, NMB and TCC counters by 31.54 percent, 18.06 percent, and 6.46 percent, 5.45 percent, 2.94 percent and 1.61 percent respectively.

Banking & Investment Index lost 32.00 points, moving from 3,452.25 points as at the end December 2014 to 3,420.25 points at the end of March, 2015. The loss

1 Base year/Value for All Share Index :15 Dec 2006 =1,000

16,300 16,600 16,900 17,200 17,500 17,800 18,100 18,400 18,700 19,000 19,300 19,600 19,900 20,200 20,500 20,800 21,100 21,400 21,700 22,000 22,300 22,600 22,900 23,200 23,500 23,800 24,100 24,400

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Tanzania Share Index

THE DAR ES SALAAM STOCK EXCHANGE - QUARTERLY UPDATE THE DAR ES SALAAM STOCK EXCHANGE - QUARTERLY UPDATE 3

was caused by fall in price of CRDB shares. Shares price of the CRDB bank dropped by 6.98 percent, from TZS 430 to TZS 400.

Industrial & Allied Index increased by 4.08 percent moving from 6,100.96 points as of 31st December, 2014 to 6,349.95 points as of 31st March, 2015. The gain was attributed by TBL 6.46 percent and TOL 5.45 percent share price increase.

Commercial Services Index went up by 22.24 percent to settle at 3,635.18 points as of 31st March 2015 from 2,973.83 points as of 31st December 2014. The gain was caused by 31.54 percent increase in SWISSPORT share price. PRECISION share price remained at the same level as was in December 2014.

Turnover & volume TrendTotal turnover for the 1st Quarter, 2015 recorded a 93.75 percent increase to (TZS 278.29 billion) in comparison to the previous quarter, while volume of shares traded also by increased 41.18 percent from 51 million to 72 million shares.

The composition of turnover generated during the quarter is as indicated below:

TBL, TCC, CRDB and SIMBA were the top four most traded counters in the quarter. TBL had the largest proportion of the total turnover, accounting to 78.64 percent, whereas TCC, CRDB and SIMBA had 7.70 percent, 6.25 percent and 4.72 percent of the quarterly turnover respectively.

2,400.0000

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Commercial Services Share Index

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TZS

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Equity Turnover Trends (2012 - 2014)

2012 2013 2014

2.1%10.6% 12.5%

6.25%1.5%

0.2%0.3%

0.07%

21.8%

21.1%

3.5%

1.98%

0.0%

0.0%

0.0%

0.00%

0.7%

0.2%

2.6%

0.18%

59.5%

37.2%

29.7%

78.64%

4.3%

19.2%

35.5%

7.70%

6.5%2.7%

5.1%0.31%0.0% 0.0% 0.0% 0.00%

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Q2-2014 Q3-2014 Q4-2014 Q1-2015

Quarterly Turnover Contribution for 2014

CRDB DCB NMB PAL SWIS TBL TCC TCCL TOL TPCC TTP EABL KA NMG MBP SWALA USL MKCB

CRDB; 6.25%DCB; 0.07%

NMB; 1.98%

TBL; 0.18%

TCC; 78.64%

TCCL; 7.70%

TOL; 4.72%TPCC; 0.09%

TTP; 0.31%

MBP; 0.00%

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Shakers & MoversKey:Size of the bubble = % contribution to Total Turnover


Foreign investors’ ParticipationDuring the quarter under review, foreign investors’ participation in equity trading was 91.35 percent. A significant increment compared to the previous quarter of 73.35 percent. Foreign Investor sells were also high, at 77.19 percent of the total shares sold during the quarter as compared to 29.92 in the last year.

Details Oct - Dec Jan - Mar 2014 2015

Turnover (TZS Mn) 143,636.22 277,316.85

percent Buying Local Investors 26.65 8.65

percent Buying Foreign Investors 73.35 91.35

percent Selling Local Investors 70.08 22.81

percent Selling Foreign Investors 29.92 77.19

a. BOnDs

i. secondary TradingDuring the quarter ending March 2015, Government Bonds worth TZS 134.21 billion traded in the secondary market. This shows a 359.31 percent increase compared to the previous quarter (Oct – Dec 2014) where Government Bonds worth TZS 29.22 billion were traded.

ii. Yield Curve on secondary Bond MarketDuring the quarter of January to March 2015, Weighted Average Yield to Maturity (YTM) for 2, 5, & 15 -Year Bonds decreased when compared to the preceding quarter. The 2, 5 & 15-Year Bonds average YTM recorded 7.16 percent, 4.62 percent and 2.17 percent loses

respectively. Whereas, Weighted Average Yield to Maturity (YTM) for 7 & 10 – Year Bonds increased by 2.33 percent and 2.45 percent respectively.

4) nEw LisTings

During the quarter under review Mwalimu Commercial Bank (MWLB) IPO was launched. MWLB is expected to list on the EGM segment during the fourth quarter of April – June 2015. PTA Bank corporate bond Public Offering started on 15th April 2015 and expected listing date is 4th June 2015. The three received applications for listing on EGM and MIMS were on different processes of approvals by the CMSA and DSE.

DSE listed Government Bonds with different maturities worth TZS 328.42 billion, an increase of 46.79 percent in comparison to TZS 223.73 billion Government Bonds listed in the previous quarter.

Term Preference on Fixed income instrumentsDuring the quarter, subscription for short term maturities were more than the amounts offered. This indicates that investors preferred short term investments (165 percent subscription level) than long term investments at (96 percent) during the quarter.

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2015 2014 2013

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Weighted Average Yield Curve: Oct - Dec 2014 and Jan - Mar 2015

Oct-Dec '14 Jan-Mar '15

96%78% 76%

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Comparison of Subscription levels between Government Bonds and Treasury Bills

Gvt Bonds Treas.Bills Subscription Level


5) sTraTEgiC DEvELOPMEnT MaTTErs;

5.1) securities settlement ProcessIn an effort to improve its settlement process, during the quarter DSE affected a new settlement process through TISS (Tanzania Interbank Settlement System). The new process has improved efficiency in the settlement securities and it also reduces settlement risks significantly. This initiative is in line with IOSCO principle requirements.

5.2) Developments in the registry service During the quarter, DSE entered into a contract provide registry services with a new client, Mkombozi Commercial Bank.

5.3) strategic developments initiatives in developing market productsDuring the quarter the Top 100 mid –sized Companies survey for 2014 was concluded; from the survey DSE is working on its report to establish target companies for listing.

Asset Management Company. DSE used the forum to sensitize Pension Fund to increase their portfolio in the stock market.

DSE staff attended training seminar in derivatives as part of capacity building for new products.

5.4) Top 100 Mid – size Companies survey 2015During the quarter DSE took part on the preparation for the launch of the Top 100 Mid - Sized Companies’ survey 2015. The Launch was on 1st April 2015. DSE is working with KPMG and Mwananchi Communications in this initiative. The DSE objective is to identify, recognize and engage with Top 100 Mid –sized companies for capital raising options.

6) invEsTOr EDUCaTiOn & PUBLiC awarEnEss iniTiaTivEs

Public awareness During the quarter DSE completed preparation for running of the DSE Scholar Investment Challenge 2015, the Challenge launched on 28th March 2015. DSE Scholar Investment Challenge 2015 started on 1st April 2015 and expected to

conclude on 30th June 2015. The objective of this initiative is to practically train higher learning students on matters of savings and investment using mobile phone and internet platform. The 2015 is the second year of the Challenge).

Also DSE continued with its weekly press conferences to main stream media houses to provide updates on weekly performance, market outlook and other relevant information about the market. Also the DSE’s CEO continued with his contributions as columnist on The Citizen.

Articles published in this newspaper are educative and also aims at awaken, curiosity on stock market issues to different readers including policy makers, prospective issuers and investors. The same articles can also be found on the publications page of the DSE website.

6.1.1) student visitsDuring the quarter DSE hosted group of 35 students from Mlimani Commercial College who visit the Exchange to learn about stock market operations.

7) COrPOraTE aCTiOns anD COMPanY PUBLiCaTiOns

During the quarter TCC declared a final dividend of TZS 400 per share for the year ended 31st December 2014.

TBL declared a first interim dividend of TZS 300 per share for the year 2014/15.

Swissport Tanzania Ltd declared a final dividend of TZS 178.43 for financial year ended 31st December 2014.


COMParaTivE MarKET raTiOs

P/E raTiO DiviDEnD YiELD EPs

2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013

TBL 6.42 5.68 4.90 5.32 13.32 9% 8% 0% 7% 4% 273.95 313.46 412.63 564.26 600.58

TCC 3.91 3.69 4.43 4.89 11.02 8% 14% 19% 18% 9% 460.28 602.00 709.42 859.41 780.58

TCCL 3.68 3.76 6.91 4.43 3.96 7% 9% 10% 4% 5% 477.77 505.63 344.41 541.83 509.75

SWIS 4.98 4.94 4.16 9.21 12.87 16% 15% 19% 9% 6% 112.42 121.44 196.92 186.75 208.22

TPCC 6.15 6.45 7.40 7.60 12.72 8% 8% 9% 7% 7% 266.74 279.04 281.26 342.25 209.20

NMB 8.52 6.11 5.92 5.75 9.78 4% 5% 6% 6% 0% 95.10 107.96 143.68 194.80 267.81

DCB 6.55 2.86 6.36 12.53 5.09 9% 17% 8% 8% 5% 45.81 97.74 100.70 49.50 96.27

CRDB 7.27 5.17 9.99 4.05 7.22 5% 7% 5% 8% 5% 21.05 22.22 17.33 37.01 38.77

TTP - - (5.86) - (5.79) 0% 0% 0% 0% 0% (32.59) 0.83 (45.19) 25.42 (112.34)

TOL - - - 10.17 11.56 0% 0% 0% 0% 0% (23.91) (50.05) 3.22 25.58 26.81

EABL 10.89 16.05 9.98 7.56 19.96 8% 7% 7% 8% 8% 183.71 124.58 200.32 264.59 264.59

KA - 8.78 14.92 (10.14) - 1% 1% 2% 2% 0% 75.87 136.73 68.36 (97.64) (97.64)

JHL 16.59 7.96 7.96 8.27 7.45 2% 1% 2% 2% 2% 353.21 736.42 736.41 708.45 708.45

KCB 13.74 9.71 6.59 5.64 9.51 4% 4% 5% 7% 5% 32.02 45.30 66.73 78.05 91.51

NMG

PAL 7% 3.95 (187.87)

ACCIA

DsE MarKET sTaTisTiCs FOr THE PEriOD OF aPriL 2014 TO MarCH 2015

apr ‘14 May ‘14 Jun ‘14 Jul ‘14 aug ‘14 sep ‘14 Oct ‘14 nov ‘14 Dec ‘14 Jan ‘15 Feb ‘15 Mar ‘15

Turnover (TZS’ Mil) 3,937 15,758.98 15,183.68 11,761.68 44,690.25 81,643.24 61,138.09 67,815.88 30,775.80 45,044.55

Volume of shares 14,124,123 16,539,333 38,206,573 13,835,856 26,799,900 39,012,753 15,525,925 28,226,630 15,527,524 7,681,892

Deals 397 934 1,064 1,280 2,882 2,785 3,430 2,561 1,618 1,321

Trading Sessions 21 18 20 21 19 21 21 20 20 22

Market cap (TZS bil) 11,577 18,055.90 17,888.00 18,902.16 20,470.44 21,044.53 22,576.29 23,094.60 22,841.34 22,090.39 23,431.71 23,663.62

Exchange Rate 1,582 1,633.22 1,644.42 1,449.68 1,633.22 1,644.42 1,649.68 1,683.39 1,727.89 1,725.78 1,760.78 1,781.46

DSE All Share Index 1,303 2,043.56 2,019.68 2,172.71 2,043.56 2,019.68 2,172.71 2,632.05 2,606.72 2,519.64 2,671.89 2,701.28

ACA 13,160 6,920 6,130 5,830 7,310 6,280 5,620 5,660 6,530 6,810 7,310 7,420

CRDB 172.50 310 320 320 315 320 330 500 495 430 460 425

DCB 640 480 480 480 490 480 505 595 665 720 965 885

EABL 2,000 5,520 5,130 5,510 5,430 5,180 5,150 5,310 5,810 5,580 5,970 6,020

JHL 5,860 5,750 6,380 7,720 7,360 7,700 9,050 8,520 8,810 8,510 8,780 10,620

KA 1,020 240 220 200 190 190 180 170 160 160 210 200

KCB 440 930 930 940 1,010 1,090 1,080 1,020 1,110 1,080 1,120 1,160

MBP 600 600 600 600 600 600 600 600 600 600 600

MKCB - - - - - - - - - 1,500 1,500 1,300

NMB 850 2,840 3,300 3,990 4,010 4,150 4,390 4,610 3,910 3,400 4,300 4,290

NMG 3,100 5,790 5,840 5,910 5,790 5,840 5,860 5,560 5,650 4,950 5,300 5,100

PAL 495 470 470 470 470 470 470 470 470 470 470 470

SWALA - - - - 710 1,160 1,650 1,270 700 650 600

SWIS 820 2,700 2,660 2,640 2,640 2,880 3,900 5,060 5,000 5,010 5,240 5,410

TATEPA 475 650 650 650 650 650 650 650 650 650 600 650

TBL 2,020 8,000 8,640 9,700 11,500 13,710 16,960 16,980 14,490 14,090 14,050 14,290

TCC 3,140 10,000 10,100 11,200 13,000 13,210 17,500 16,190 16,300 16,740 16,500 17,100

TCCL 2,380 2,420 2,360 2,400 2,600 3,050 4,280 5,630 4,290 4,500 5,000 4,420

TOL 200 400 500 495 480 480 480 575 500 550 580 550

TPCC 2,080 2,460 2,440 2,320 2,340 3,200 3,790 4,500 4,010 4,000 3,990 3,890

USL - - - - 230 200 160 170 190 250 210


TanZania BrEwEriEs LiMiTED (TBL) nUMBEr OF PrE-TaX DiviDEnD MarKET issUED PrOFiT CaPiTaLiZaTiOn sHarEs

(TZS Million) (TZS Million) (TZS Million)

2009 294,928,463 115,188 44,239 519,074.09

2010 294,928,463 133,842 44,239 524,972.66

2011 294,928,463 173,183 - 595,755.50

2012 294,928,463 238,228 58,986 884,785.39

2013 294,928,463 253,813 88,479 2,359,427.70

TOL gasEs LiMiTED (TOL) nUMBEr OF PrE-TaX DiviDEnD MarKET issUED PrOFiT CaPiTaLiZaTiOn sHarEs


2009 37,223,686 (144.62) - 8,747.57

2010 37,223,686 (890.19) - 7,444.74

2011 37,223,686 409.95 - 7,444.74

2012 37,223,686 1,377.13 - 9,678.16

2013 37,223,686 945.52 - 11,539.34

swissPOrT TanZania LiMiTED (swissPOrT) nUMBEr OF PrE-TaX DiviDEnD MarKET issUED PrOFiT CaPiTaLiZaTiOn sHarEs


2009 36,000,000 5,668 3,238 20,160.00

2010 36,000,000 6,322 3,327 21,600.00

2011 36,000,000 10,238 5,671 29,520.00

2012 36,000,000 9,723 5,378 61,920.00

2013 36,000,000 11,387 5,997 96,480.00

TanZania POrTLanD CEMEnT COMPanY LiMiTED (Twiga) nUMBEr OF PrE-TaX DiviDEnD MarKET issUED PrOFiT CaPiTaLiZaTiOn sHarEs


2009 179,923,100 68,788 23,390 295,073.88

2010 179,923,100 71,929 25,101 323,861.58

2011 179,923,100 72,774 32,386 374,240.05

2012 179,923,100 92,341 33,286 467,800.06

2013 179,923,100 50,395 35,085 478,595.45

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PRE-‐TAX PROFIT (TZS Million) DIVIDEND (TZS Million) MARKET CAPITALIZATION (TZS Million)

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TWIGA (Profit,Dividend & Market Cap)



TaTEPa LiMiTED nUMBEr OF PrE-TaX DiviDEnD MarKET issUED PrOFiT CaPiTaLiZaTiOn sHarEs


2009 17,857,165 (504) - 2,732.15

2010 17,857,165 292 - 2,053.57

2011 17,857,165 (628) - 3,089.29

2012 17,857,165 484 - 2,678.57

2013 17,857,165 (2,543) - 11,607.16

TanZania CigaraTTE COMPanY (TCC) nUMBEr OF PrE-TaX DiviDEnD MarKET issUED PrOFiT CaPiTaLiZaTiOn sHarEs


2009 100,000,000 65,978 15,000 180,000.00

2010 100,000,000 84,100 30,000 222,000.00

2011 100,000,000 101,400 60,000 314,000.00

2012 100,000,000 123,728 75,000 420,000.00

2013 100,000,000 112,137 75,000 860,000.00

KEnYa airwaYs LiMiTED (Ka) nUMBEr OF PrE-TaX DiviDEnD MarKET issUED PrOFiT CaPiTaLiZaTiOn sHarEs


2008 461,615,484 (107,729) 8,787 692,423.23

2009 461,615,484 45,968 7,951 600,100.13

2010 461,615,484 89,236 12,363 553,938.58

2011 461,615,484 40,795 7,110 470,847.79

2012 1,496,469,034 (201,147) - 1,481,504.34

EasT aFriCan BrEwEriEs LiMiTED (EaBL) nUMBEr OF PrE-TaX DiviDEnD MarKET issUED PrOFiT CaPiTaLiZaTiOn sHarEs


2008 790,578,585 225,629 121,572 1,581,157.17

2009 790,578,585 194,123 111,882 1,581,157.17

2010 790,578,585 212,022 116,724 1,581,157.17

2011 790,578,585 215,145 121,428 1,581,157.17

2012 790,578,585 285,231 129,385 1,581,157.17

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DIVIDEND (TZS Million) DIVIDEND (TZS Million) MARKET CAPITALIZATION (TZS Million)

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EABL (Profit,Dividend & Market Cap)



Tanga CEMEnT COMPanY LiMiTED (siMBa) nUMBEr OF PrE-TaX DiviDEnD MarKET issUED PrOFiT CaPiTaLiZaTiOn sHarEs


2009 63,671,045 45,830 7,641 112,061.04

2010 63,671,045 44,696 11,397 120,974.99

2011 63,671,045 35,448 15,727 151,537.09

2012 63,671,045 51,272 5,476 152,810.51

2013 63,671,045 46,045 7,004 128,615.51

naTiOnaL MiCrOFinanCE BanK (nMB) nUMBEr OF PrE-TaX DiviDEnD MarKET issUED PrOFiT CaPiTaLiZaTiOn sHarEs


2009 500,000,000 68,038 15,700 405,000.00

2010 500,000,000 78,445 18,000 330,000.00

2011 500,000,000 102,786 25,000 425,000.00

2012 500,000,000 144,741 34,000 560,000.00

2013 500,000,000 188,131 - 1,310,000.00

JUBiLEE HOLDings LiMiTED (JHL) nUMBEr OF PrE-TaX DiviDEnD MarKET issUED PrOFiT CaPiTaLiZaTiOn sHarEs


2008 36,000,000 16,705 3,541 210,960.00

2009 45,000,000 19,407 3,530 263,700.00

2010 45,000,000 36,995 4,451 263,700.00

2011 45,000,000 37,198 4,251 263,700.00

2012 58,895,000 49,174 6,555 345,124.70

Dar Es saLaaM COMMUniTY BanK (DCB) nUMBEr OF PrE-TaX DiviDEnD MarKET issUED PrOFiT CaPiTaLiZaTiOn sHarEs


2009 32,393,236 2,484 907 9,717.97

2010 32,393,236 4,243 1,555 9,070.11

2011 32,393,236 4,437 1,620 20,731.67

2012 38,546,791 2,840 1,927 23,899.01

2013 67,827,897 5,220 1,800 33,235.67

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CrDB BanK PLC (CrDB) nUMBEr OF PrE-TaX DiviDEnD MarKET issUED PrOFiT CaPiTaLiZaTiOn sHarEs


2009 2,176,532,160 61,922 15,236 333,009

2010 2,176,532,160 65,637 17,400 250,301

2011 2,176,532,160 51,013 19,589 376,540

2012 2,176,532,160 107,702 26,118 326,480

2013 2,176,532,160 122,021 30,400 609,429

KEnYa COMMErCiaL BanK (KCB) nUMBEr OF PrE-TaX DiviDEnD MarKET issUED PrOFiT CaPiTaLiZaTiOn sHarEs


2009 2,217,777,777 109,557 41,122 975,822

2010 2,217,777,777 176,560 38,571 975,822

2011 2,855,061,944 262,488 64,313 1,256,227

2012 2,855,061,944 314,288 91,643 1,256,227

2013 2,855,061,944 366,607 62,541 1,256,227

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TrEasUrY BOnDs issUED anD THEir sUBsCriPTiOn LEvEL in THE PriMarY BOnD MarKET TREASURY BONDS ISSUED AND THEIR SUBSCRIPTION LEVEL IN THE

PRIMARY BOND MARKETTREASURY BILLS AUCTIONED SUBSCRIPTION LEVEL

( Note: T.Bills are not traded on the Exchange)

Issue Type of Weighted Weighted Amount Amount Successful Subsription Date Bond Average Average Offered Tendered Amount Level (%) Yield to Coupon (TZS Bln) (TZS Bln) (TZS Bln) Maturity Yield January to Dec 29-May-14 10yr 16.43 15.08 47.20 49.59 47.20 100%11-Jun-14 2yr 13.83 8.69 30.90 107.66 30.90 100%25-Jun-14 7yr 15.15 12.83 10.70 53.77 10.70 100% July to Sept 2014 9-Jul-14 10yr 16.82 15.39 55.00 45.23 45.23 82%23-Jul-14 5yr 15.68 11.77 62.00 39.14 39.14 63%6-Aug-14 15yr 17.51 13.15 30.00 26.88 25.18 84%20-Aug-14 2yr 14.12 8.75 55.00 128.30 55.00 100%3-Sep-14 7yr 16.75 13.19 60.00 37.92 30.37 51%17-Sep-14 10yr 16.33 15.00 45.00 73.10 45.00 100% Oct to Dec 2014 1-Oct-14 5yr 15.99 11.90 62.00 71.70 62.00 100%15-Oct-14 15yr 17.91 17.47 42.00 31.58 31.58 75%29-Oct-14 2yr 14.83 8.86 55.00 83.58 38.56 70%12-Nov-14 7yr 15.97 13.31 60.00 71.87 66.64 111%26-Nov-14 10yr 16.50 15.13 45.00 31.89 20.01 44%23-Dec-14 15yr 0.00 0.00 25.00 14.35 - 0% Oct to Dec 2014 1-Oct-14 5yr 15.99 11.90 62.00 71.70 62.00 100%15-Oct-14 15yr 17.91 17.47 42.00 31.58 31.58 75%29-Oct-14 2yr 14.83 8.86 55.00 83.58 38.56 70%12-Nov-14 7yr 15.97 13.31 60.00 71.87 66.64 111%26-Nov-14 10yr 16.50 15.13 45.00 31.89 20.01 44%23-Dec-14 15yr 0.00 0.00 25.00 14.35 - 0%

Amount Amount Successful Offered Tendered Amount Subsription (TZS Bln) (TZS Bln) (TZS Bln) Level (%)

July to September 2014Jul 295 348.48 214.62 72.75%Aug 270 545.60 243.98 90%Sep 270 810.46 585.65 217%

October to December 2014Oct 270 357.00 288.00 107%Nov 270 315.00 233.00 86%Dec 270 269.00 246.00 91%

July to September 2014 Oct 270 357.00 288.00 107%Nov 270 315.00 233.00 86%Dec 270 269.00 246.00 91%

THE DAR ES SALAAM STOCK EXCHANGE - QUARTERLY UPDATE12

Bond issue Date interest rate Maturity Date Closing Principal (Fv)

2 TwO YEars BOnDs Total 2 Year Bond Various 7.82% Various 483,061,100,000.00 5 YEar BOnDs Total 5 Year Bond Various 9.18% Various 1,000,059,800,000.00

7 YEar BOnDs Total 7 year bond Various 10.08% Various 1,076,648,400,000.00 10-YEars BOnDs Total 10 year bond Various 11.44% Various 1,187,367,200,000.00 15-YEars BOnDs Total 13 year bond Various 13.50% Various 134,329,777,000.00

Total value of Outstanding Treasury Bonds 3,881,466,277,000.00

CORE Securities Ltd4th Floor, Elite City TowerSamora Avenue, Dar es SalaamTel: +255 22 212 3103Fax: +255 22 218 [email protected]

Orbit Securities Co. Ltd4th Floor, Golden Jubilee Tower,PSPF BuildingOhio Street, Dar es SalaamTel: +255 22 211 1758Fax: +255 22 211 [email protected]

Solomon Stockbrokers Co. LtdGround Floor, PPF HouseSamora Avenue/Morogoro Road, Dar es SalaamTel: +255 22 211 2874, Fax: +254 22 213 [email protected]

Vertex International Securities LtdAnnex Building-Zambia High CommissionSokine/Ohio Street, Dar es SalaamTel: +255 22 211 6382, Fax: +255 22 210 [email protected]

Rasilimali Ltd3rd Floor, ConsolidatedHoldings Building,Samora Avenue, Dar es SalaamTel: +255 22 211 1711Fax: +255 22 211 [email protected]

Contact Addresses of Licensed Stock Brokers

ZANSecurities LtdMezzanine Floor, Haidary PlazaP.O. Box 5366, Dar es SalaamTel: +255 22 212 6415, Fax: +255 22 212 [email protected]

Tanzania Securities Ltd7th Floor, IPS Building,Samora Avenue/ Azikiwe Street,Dar es SalaamTel: +255 22 211 2807Fax: +255 22 211 [email protected]

E.A. Capital Ltd6th Floor, IT PlazaOhio StreetP.O. Box 20650, Dar es SalaamTel +255 779740818/ +255 [email protected]

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