The Big Numbers: Market Performance at a Glance
Total Market Capitalization: Reached TZS 23.99 trillion, representing a 34.3% increase from 2024.
Equity Market Turnover: Surged to TZS 663.75 billion, a staggering 190.31% year-on-year growth.
Trading Volume: A total of 477.81 million shares were traded, more than doubling the previous year's volume.
Index Growth: The DSE All Share Index (DSEI) rose by 29.08%, while the Tanzania Share Index (TSI) grew by 24.70%
Digital Transformation: Investing in the Palm of Your Hand
One of the most significant catalysts for growth was the adoption of digital trading platforms. The DSE’s mobile trading platform, Hisa Kiganjani, saw its turnover jump by 656.38% to TZS 106.68 billion. This technological shift helped the total number of investors in the market grow by 105.3%, reaching over 2.1 million by the end of 2025.
Moreover, during the recent CSDR investor forum 2026, it was mentioned that 61,000 CDS accounts were opened between January and February 2026, while market capitalization stood at 34.6 trillion TZS, and equity market turnover was 430 billion TZS in the same period.
You can check out the CSDR Investor Forum 2026 for more critical insights.
A New Era of Products: ETFs, Sukuks, and Green Bonds
2025 was a landmark year for product diversification:
First-Ever ETF: The market celebrated the launch of the Vertex ETF, which tracks actively traded equities on the DSE and raised TZS 6.8 billion during its initial offer.
Regional Integration: The iTrust EAC Large Cap ETF was introduced, offering exposure to large-cap equities across East African exchanges.
Islamic Finance: The Sukuk market saw explosive growth, led by the Zanzibar Treasury Sukuk and CRDB’s Al Barakah Sukuk.
Sustainability: New regulations were issued to guide green and social bonds, attracting investors focused on environmentally and socially impactful projects.
Sector Spotlight: The Banking Powerhouse
The banking and financial services sector remained the primary engine of market performance. The Banks, Finance & Investments Index (BI) surged by 88.46%. Leading the charge were NMB and CRDB, which continued to be the most actively traded and fundamentally strong institutions on the exchange.
Looking Ahead
While liquidity remains concentrated in a few dominant companies, the foundations laid in 2025, including increased retail participation and a broader range of investment tools, position Tanzania’s capital market for sustained growth. The market is increasingly evolving into an inclusive platform for wealth creation across the region.
For a detailed look at the data and insights, you can reference the full 2025 Capital Market Review report here.
Tz Capital Markets Report.pdf