State-owned Tanzania Commercial Bank (TCB) is set to enter the capital market and open its ownership to Tanzanian investors. The bank's Chief Executive Officer and Managing Director, Adam Mihayo, disclosed the plans during the 2026 Chairpersons and Chief Executive Officers Forum on September 29, 2026. According to Mihayo, TCB aims to increase its profitability, lending, and financial capacity by entering the capital market. This move is expected to boost the bank's capital base and allow Tanzanians to acquire shares.
The planned listing of TCB is part of a broader government program to introduce additional state-owned enterprises to the Dar es Salaam Stock Exchange (DSE). The Government of Tanzania targets up to five state-owned companies to be listed by the end of the 2026/27 financial year. Treasury Registrar Nehemiah Mchechu announced in July 2026 that the government had completed its internal assessment of potential candidates and directed selected institutions to start preparing for listing.
The names of the selected institutions have not been disclosed and are expected to be announced after the relevant processes involving the Capital Markets and Securities Authority (CMSA) and DSE. The program aims to enable state-owned companies to raise investment capital through the market while allowing Tanzanians to acquire direct ownership in the enterprises. This move is expected to promote economic growth and development in the country.
State Mining Corporation (STAMICO) is among the state-owned enterprises that could enter the stock market. In November 2024, then Minister for Minerals Anthony Mavunde said discussions concerning its proposed DSE listing were being finalised. However, the eventual listing could involve its commercial subsidiary, STAMIGOLD, which operates the Biharamulo Gold Mine in Kagera Region.
According to Peter Nalitolela, CEO of DSE, prospective issuers are expected to enter through the DSE Main Investment Market Segment and must comply with the applicable listing requirements. The listing process is expected to be transparent and in line with regulatory requirements. The DSE has been working to improve its listing procedures and provide a platform for companies to raise capital.
The government initially intends to list two public corporations, but the number could increase to four or five if preparations progress as expected. The target is to complete the listings by the end of the 2026/27 financial year. This move is expected to promote economic growth, increase investment, and provide opportunities for Tanzanians to own shares in state-owned enterprises.
The listing of TCB and other state-owned enterprises is expected to have a positive impact on the Tanzanian economy. It will provide opportunities for Tanzanians to invest in the country's economy and promote economic growth. The government is working to ensure that the listing process is transparent and in line with regulatory requirements.
Key points
- Tanzania Commercial Bank to list on Dar es Salaam Stock Exchange
- Government targets up to five state-owned companies to be listed by 2026/27
- Listings aim to promote economic growth and provide investment opportunities for Tanzanians
