• Welcome to CORE Securities Ltd

    Licensed Dealing Member of Dar es salaam Stock Exchange

  • Welcome to CORE Securities Ltd

    Nominated Advisor (NOMAD)

  • Welcome to CORE Securities Ltd

    Funds Manager (UMANDE)

12
  • AFRIPRISE 470
  • CRDB 1160
  • DCB 285
  • DSE 5990
  • MBP 710
  • MCB 360
  • MKCB 2400
  • MUCOBA 380
  • NICO 1390
  • NMB 7810
  • PAL 210
  • SWIS 1640
  • TBL 7410
  • TCC 12370
  • TCCL 2100
  • TOL 890
  • TPCC 5610
  • TTP 395
  • VODA 580
  • JATU 265
  • YETU 510

CORE Securities Limited was initially licensed by the Capital Markets and Securities Authority (CMSA) as an Investment Advisor on 2nd March 1998. Subsequently, on 1st July 1999, the company was granted a prestigious license for dealing in securities and was officially admitted as a Licensed Dealing Member of the Dar es Salaam Stock Exchange (Member No. D-007) on 20th July 1999.
The company’s core business centers on securities trading, encompassing investment advisory services, the management of Collective Investment Schemes (CIS), and the development of innovative financial products that contribute to the dynamism of capital markets in Tanzania and the broader East African region.
In addition to its trading and advisory operations, CORE Securities Limited is a licensed fund manager under the brand UMANDE, offering professionally managed investment solutions tailored to both institutional and retail investors. UMANDE’s offerings are designed to promote financial inclusion, long-term wealth creation, and strategic capital allocation across diverse asset classes.
Through its affiliate, Consultants for Resources Evaluation Limited, CORE Securities also engages in management consulting and professional training, further extending its impact across the financial and corporate sectors.

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Listed Securities

More Listed Securities

GOVERNMENT SECURITIES

Treasury bonds are a type of government debt security that investors can purchase. They are considered a secure, medium- to long-term investment, typically offering interest payments every six months throughout the bond’s maturity. In Tanzania, the The Bank of Tanzania auctions Treasury bonds on a regular basis, offering a variety of bonds with different maturities, such as 2, 5, 7, 10, 15, 20, and 25 years

Bond Calender

DATE LISTED: 21st December 2011

IPO PRICE (TZS): 470

PAL provides regional and domestic carriage of passengers and cargo by air. The company flies to 11 destinations within and outside Tanzania, including Arusha, Kilimanjaro, Mwanza, Bukoba, Mtwara, Kigoma, Tabora, Zanzibar, Nairobi, Musoma, and Hahaya. The company also provides ground handling services; and distributes the Galileo reservation systems to airlines and travel agents in Tanzania. It operates through a fleet of five 70-seater ATR 72-500, three 48-seater ATR 42-500, and a 48-seater ATR 42-600. The company was incorporated in 1991 and is headquartered in Dar es Salaam, Tanzania.

PAL listed 160,469,800 shares on DSE in 2011 after unsuccessful IPO were by it was under subscribed by more than 50%. The IPO  price was 470.

website: www.precisionairtz.com/

National Microfinance Bank PLC (NMB)

DATE LISTED: 6th November 2008

IPO PRICE (TZS): 600

NMB Bank Plc is one of Tanzania’s largest and most profitable commercial banks, offering a wide range of financial services to individuals, SMEs, corporates, and government institutions. The bank was established in 1997 following the break-up of the former National Bank of Commerce (NBC), which resulted in the formation of three distinct entities:

  • NBC Holdings Limited
  • National Bank of Commerce (1997) Limited
  • National Microfinance Bank Limited (NMB)

Initially, NMB was limited to offering basic savings and payment services, with restricted lending capabilities. In 2005, the Government of Tanzania privatized the bank by selling a 49% stake to Rabobank Group of the Netherlands. This was followed by further divestment through a public offering.

On 31 October 2008, NMB listed 500,000,000 shares on the Dar es Salaam Stock Exchange (DSE) at an IPO price of TZS 600 per share. The listing marked a significant milestone in the bank’s transformation into a fully-fledged universal retail bank. Over the past two years, NMB shares have consistently traded around TZS 2,750, reflecting strong investor confidence and sustained profitability.

CORE Securities Limited served as the IPO Sponsoring Broker, playing a key role in the bank’s successful public offering.

website: www.nmbbank.co.tz/

National Investments PLC

DATE LISTED: 2008

National Investments Company Limited (NICOL)

NICOL is a publicly listed investment company incorporated in the United Republic of Tanzania and trades on the Dar es Salaam Stock Exchange (DSE) under the ticker NICO.

The company was officially listed on the DSE on 15 July 2008, offering shares at an IPO price of TZS 400. However, in 2011, the Capital Markets and Securities Authority (CMSA) ordered its de-listing due to non-disclosure of financial statements for 2009 and 2010, and for engaging in an unauthorized asset sale. At the time of de-listing, NICOL shares were trading at TZS 270.

After a period of restructuring, NICOL re-emerged in 2017, declaring its first dividend of TZS 25 per share—marking a return to profitability after a decade. Subsequently, the company announced its re-listing plans on 6 June 2018, offering shares at TZS 300.

NICOL’s core mandate is to acquire, establish, and manage enterprises across strategic sectors of the Tanzanian economy, including manufacturing, financial services, telecommunications, agriculture, and mining.

The company currently operates through two active subsidiaries:

  • Tanzania Fisheries Development Company Limited (TFDC) – formerly involved in Nile perch processing for export.
  • Tanzania Meat Company Limited (TMCL) – a joint venture with the National Ranching Company (NARCO), where NICOL holds a 51% stake.

CORE Securities Limited served as the Lead Advisor during NICOL’s public offering and re-listing process

website: www.nicol.co.tz

Mwalimu Commercial Bank PLC (MCB)

DATE LISTED: 27th November 2015

IPO PRICE (TZS): 600

Mwalimu Commercial Bank Plc (MCB) is a Tanzanian commercial bank incorporated in 2012 and headquartered in Dar es Salaam. The bank was founded in response to market conditions that made financial services inaccessible or unaffordable for teachers. Recognizing this gap, the Tanzania Teachers’ Union (TTU), through its economic wing—the Teachers’ Development Company Limited (TDCL)—initiated the establishment of MCB to provide cost-effective and inclusive financial solutions.

MCB’s mission is to economically empower teachers and civil servants, improve their living standards, and offer a broad range of banking services to the general public. The bank emphasizes affordability, accessibility, and innovation in its service delivery.

To raise capital and expand its operations, MCB listed on the Dar es Salaam Stock Exchange (DSE) under the Enterprise Growth Market (EGM) segment. The IPO involved the issuance of 50,000,000 shares at a price of TZS 500 per share.

CORE Securities Limited served as the IPO Nominated Advisor, guiding the bank through its public listing process.

website: www.mcb.co.tz/

Mkombozi Commercial Bank PLC (MKCB)

DATE LISTED: 29th December 2014

Mkombozi Commercial Bank Plc (MKCB) was established in 2009 as an initiative of the Tanzania Episcopal Conference (TEC), with the vision of supporting emerging Tanzanian businesses through accessible and inclusive financial services. The bank was granted a commercial banking license by the Bank of Tanzania in July 2009 and officially commenced operations in August 2009.

MKCB’s core mission is to serve a broad spectrum of clients, including:

  • Small and medium-sized enterprises (SMEs)
  • SACCOS and social enterprises (e.g., schools, universities, hospitals)
  • Corporates, institutional investors, and government entities

The bank emphasizes financial inclusion, particularly for underserved communities and faith-based institutions, and operates a growing network of branches and agents across Tanzania.

To strengthen its capital base and expand outreach, MKCB listed on the Dar es Salaam Stock Exchange (DSE) under the Enterprise Growth Market (EGM) segment. The IPO involved the issuance of 5,000,000 shares at a price of TZS 1,000 per share.

CORE Securities Limited served as the Nominated Advisor (NOMAD) during the IPO process.

website: www.mkombozibank.co.tz/

DATE LISTED: 17th June 2009

IPO PRICE (TZS): 150

CRDB Bank Plc is an African bank and a leading Financial Services Provider in Tanzania with current presence in Tanzania and Burundi, East Africa.

The Bank was established in 1996 and it listed its 2,176,532,160 shares in Dar Es Salaam Stock exchange (DSE) in June 2009 at an IPO price of  TZS 150 per share.

CRDB Bank offers a comprehensive range of products such as Corporate, Retail, Business, Treasury, Premier, and wholesale microfinance services through a network of over 120 branches, over 400 ATMs, 15 Depository ATMs, over 13 Mobile branches and 984 Point of Sales (POS) terminals.

website: www.crdbbank.co.tz/

Maendeleo Bank PLC (MBP)

DATE LISTED: 09 September 2013

IPO PRICE (TZS): 600

Maendeleo Bank Plc (MBP) was incorporated in February 2011 as a limited liability company and officially commenced operations on 9 September 2013 as a regional bank, following the issuance of Banking License No. NBA 00026 by the Bank of Tanzania.

Uniquely, Maendeleo Bank became the first bank in Tanzania to be listed on the Dar es Salaam Stock Exchange (DSE) from inception, joining the Enterprise Growth Market (EGM) segment. This milestone also marked its transition to a Public Limited Company (PLC) from the outset.

The bank was established as a strategic initiative of the Evangelical Lutheran Church in Tanzania – Eastern and Coastal Diocese, with a mission to serve micro, small, and medium-sized enterprises (MSMEs) and promote inclusive financial access. Its core objective is to deliver innovative, customer-driven financial services while generating sustainable returns for shareholders.

In a subsequent capital-raising initiative, Maendeleo Bank conducted a Rights Issue, with CORE Securities Limited serving as the Nominated Advisor.

website: www.maendeleobank.co.tz/

Dar es salaam Community Bank PLC

DATE LISTED: 16thSeptember 2008

DCB was incorporated as a limited company on 6th September 2001. It commenced operations in April 2002 as a regional microfinance institution. On 12th June 2003, the Bank received a license from the Bank of Tanzania to operate as Dar es Salaam Community Bank Limited.

By 2005, just three years into its operations, DCB achieved break-even status—a notable feat in the banking sector. In 2008, it made history by becoming the first bank in Tanzania to list on the Dar es Salaam Stock Exchange (DSE). The Initial Public Offering (IPO) was priced at TZS 275 per share, with a total of 67,827,897 shares listed.

In February 2012, the Bank rebranded to DCB Commercial Bank Plc, reflecting its broader strategic ambitions. By July 2012, it was granted a national license, officially transitioning into a fully-fledged commercial bank with authority to operate countrywide.

CORE Securities Limited served as the Lead Advisor and Sponsoring Broker during the IPO process.

website: www.dcb.co.tz/

DATE LISTED: 12th July 2016

IPO PRICE (TZS): 500

DSE is a market place where buyers and sellers of financial instruments meet. The Exchange is the secondary leg of Capital Markets that help avail long term and affordable capital to companies (productive users) from investors (idle holders/savers) with investment motives.

DSE was incorporated in 19 September 1996 and trading started in April 1998. The exchange became operational on 15 April 1998 with TOL Gas Limited listing as the first company followed by the Tanzania Breweries Limited (TBL) during the same year.

On 29 June 2015 the Dar-es-Salaam Stock exchange re-registered to become a public limited company after issuing 15,000,000 shares to the public at an IPO price 500.

website: www.dse.co.tz

INDUSTRY: Agricultural

ISN: TZ1996103804

DATE LISTED:  23 November 2020

IPO PRICE (TZS): 500/=

website: www.jatukilimo.com/about/

JATU PLC is a Tanzanian company involved with Agriculture, industries and markets, it was registered on 20th October, 2016. The core Vision of JATU PLC is to become a leading public company in producing quality products and good services within and beyond the country, and to create employment opportunities to Tanzanians, intended to enhance income for individuals and maximize government revenues. As its Mission to achieve its Vision, JATU PLC is dedicated to ensure that human lives are enriched with good health by use of premium natural products produced by JATU PLC and implement a poverty reduction solution by use of human resources, modern agriculture and engage in industry activities and network marketing to ensure profit sharing.

Tanzania Cigarette Company (TCC)

DATE LISTED: 16th November,2000

IPO PRICE: 410

Tanzania Cigarette Company Plc (TCC) is the country’s leading tobacco manufacturer and a member of the Japan Tobacco International (JTI) Group. The company traces its roots to 1961, when it was established as East African Tobacco, with its factory officially inaugurated by Mwalimu Julius K. Nyerere on 4 December 1961.

In line with Tanzania’s nationalization policy, the Government of Tanzania acquired a 60% stake in 1967, and by 1975, it held 100% ownership, renaming the company to Tanzania Cigarette Company Ltd.

Following years of state ownership, privatization began in 1995, when RJ Reynolds acquired a 51% stake. In 1999, Japan Tobacco Inc. (JT) acquired all non-U.S. tobacco operations of RJ Reynolds, including its stake in TCC. By September 2000, JT—through its international arm, JTI—increased its shareholding to 75%, becoming the majority shareholder.

TCC was listed on the Dar es Salaam Stock Exchange (DSE) on 16 November 2000, offering 100,000,000 shares at an IPO price of TZS 410 per share. The listing marked a pivotal moment in Tanzania’s capital market development.

TCC’s brand portfolio includes:

  • Embassy – premium domestic brand
  • Sweet Menthol (SM) – leading menthol brand
  • Portman, Club, Safari, Camel, and Iceberg – catering to various market segments

CORE Securities Limited served as the Co-Sponsoring Broker during the IPO process.

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