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Tanzanian (DSEI) Market Analysis & Valuation

UpdatedDec 31, 2025
DataAggregated Company Financials
Companies18
  • 7D3.1%
  • 3M12.5%
  • 1Y24.1%
  • YTD24.1%

Over the last 7 days, the market has risen 3.2%, driven by gains in every sector, especially the Financials sector. The market is up 23% over the last 12 months.

Market Valuation and Performance

Has the Tanzanian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 31 Dec 2025TSh14.8tTSh7.4tTSh1.8t15.2x8.1x2x
Fri, 28 Nov 2025TSh13.3tTSh7.4tTSh1.8t12x7.3x1.8x
Sun, 26 Oct 2025TSh13.1tTSh7.1tTSh1.8t15.5x7.4x1.8x
Tue, 23 Sep 2025TSh13.4tTSh7.1tTSh1.8t15.5x7.6x1.9x
Thu, 21 Aug 2025TSh14.2tTSh7.1tTSh1.7t15.5x8.3x2x
Sat, 19 Jul 2025TSh13.3tTSh6.7tTSh1.6t13.4x8.3x2x
Mon, 16 Jun 2025TSh12.6tTSh6.7tTSh1.6t13x7.8x1.9x
Wed, 14 May 2025TSh13.1tTSh6.6tTSh1.6t10.4x7.9x2x
Fri, 11 Apr 2025TSh12.8tTSh6.6tTSh1.6t9.8x7.9x1.9x
Sun, 09 Mar 2025TSh12.6tTSh6.6tTSh1.6t9.7x7.8x1.9x
Tue, 04 Feb 2025TSh12.4tTSh6.6tTSh1.6t9.8x7.7x1.9x
Thu, 02 Jan 2025TSh12.0tTSh6.4tTSh1.6t10.1x7.7x1.9x
Sat, 30 Nov 2024TSh12.1tTSh6.3tTSh1.6t10.6x7.7x1.9x
Mon, 28 Oct 2024TSh12.0tTSh6.2tTSh1.5t10.6x7.9x2x
Wed, 25 Sep 2024TSh12.1tTSh6.2tTSh1.5t10.4x7.9x2x
Fri, 23 Aug 2024TSh12.1tTSh6.1tTSh1.5t8.4x8x2x
Sun, 21 Jul 2024TSh12.0tTSh6.2tTSh1.4t7.8x8.5x1.9x
Tue, 18 Jun 2024TSh11.5tTSh5.9tTSh1.4t7.4x8x2x
Thu, 16 May 2024TSh11.5tTSh5.8tTSh1.4t7.3x8x2x
Sat, 13 Apr 2024TSh11.5tTSh5.6tTSh1.4t6.6x8.5x2.1x
Mon, 11 Mar 2024TSh11.4tTSh5.6tTSh1.4t6.6x8.4x2x
Wed, 07 Feb 2024TSh11.3tTSh5.6tTSh1.4t7x8.2x2x
Fri, 05 Jan 2024TSh11.2tTSh5.4tTSh1.3t7x8.8x2.1x
Sun, 03 Dec 2023TSh11.2tTSh5.5tTSh1.3t7.7x8.7x2x
Tue, 31 Oct 2023TSh11.3tTSh5.3tTSh1.2t7.6x9.1x2.1x
Thu, 28 Sep 2023TSh11.2tTSh5.3tTSh1.2t7.4x9x2.1x
Sat, 26 Aug 2023TSh10.9tTSh5.2tTSh1.2t9.6x9x2.1x
Mon, 24 Jul 2023TSh10.8tTSh5.0tTSh1.1t8.8x9.4x2.1x
Wed, 21 Jun 2023TSh10.8tTSh5.0tTSh1.1t8.1x9.5x2.2x
Fri, 19 May 2023TSh10.8tTSh5.0tTSh1.1t8.7x9.5x2.2x
Sun, 16 Apr 2023TSh10.8tTSh4.9tTSh1.1t8.2x9.7x2.2x
Tue, 14 Mar 2023TSh10.6tTSh4.9tTSh1.1t8.4x9.5x2.2x
Thu, 09 Feb 2023TSh10.5tTSh4.6tTSh1.1t8.7x10x2.3x
Sat, 07 Jan 2023TSh10.3tTSh4.0tTSh924.9b10.6x11.1x2.6x
Price to Earnings Ratio

11.1x


Total Market Cap: TSh10.3tTotal Earnings: TSh924.9bTotal Revenue: TSh4.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Tanzanian Market Price to Earnings3Y Average 8.4x20242025
Current Market PE
  • Investors are relatively neutral on the Tanzanian market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 8.4x.
Past Earnings Growth
  • The earnings for Tanzanian listed companies have grown 26% per year over the last three years.
  • Revenues for these companies have grown 23% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Tanzanian Market?

TZ Market3.06%
Industrials13.00%
Financials4.28%
Telecom2.40%
Consumer Staples1.05%
Materials0.38%
Energy0%0
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 15.4x.
    • It looks like investors are confident that earnings will grow faster in the future than they have historically.
  • The Financials sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average of 4.2x.
Forecasted GrowthThere is insufficient data in this market to determine future earnings growth rates.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
CRDB CRDB BankTSh1.51k8.6%
+TSh313.4b		125.4%PB1.6xFinancials
VODA Vodacom TanzaniaTSh640.002.4%
+TSh33.6b		-16.9%PE16xTelecom
NMB NMB BankTSh8.41k0.6%
+TSh25.0b		57.2%PB1.5xFinancials
TCC Tanzania CigaretteTSh10.15k1.9%
+TSh19.0b		-40.3%PE7.7xConsumer Staples
TBL Tanzania BreweriesTSh8.51k0.7%
+TSh17.3b		-21.9%PE18.8xConsumer Staples
See more

Market Insights

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Latest News

CRDB
TSh1,510.00
CRDB Bank
7D
8.6%
1Y
125.4%

A 30% ROE Bank Trading at 6x Earnings

CRDB Bank delivered a strong Q3 2025 performance with profit after tax of TZS 506.1 billion (9-month cumulative), representing a 27% YoY growth. At the current market price of TZS 1,170 per share , the stock appears moderately valued with a P/E ratio of 15.73 and solid fundamentals supporting continued growth.
VODA
TSh640.00
Vodacom Tanzania
7D
2.4%
1Y
-16.9%
NMB
TSh8,410.00
NMB Bank
7D
0.6%
1Y
57.2%
TPCC
TSh6,070.00
Tanzania Portland Cement
7D
0.7%
1Y
68.6%
SWIS
TSh2,260.00
Swissport Tanzania
7D
13.0%
1Y
105.5%
TCC
TSh10,150.00
Tanzania Cigarette
7D
1.9%
1Y
-40.3%
TOL
TSh1,010.00
TOL Gases
7D
-4.7%
1Y
50.7%
TBL
TSh8,510.00
Tanzania Breweries
7D
0.7%
1Y
-21.9%
MUCOBA
TSh410.00
Mucoba Bank
7D
-5.7%
1Y
2.5%
TTP
TSh390.00
Tatepa
7D
-2.5%
1Y
225.0%
TCCL
TSh2,400.00
Tanga Cement
7D
3.9%
1Y
33.3%