Dar es Salaam. The iTrust East Africa Community Large Cap Exchange Traded Fund (ETF) was officially listed on the Dar es Salaam Stock Exchange (DSE) on Tuesday following overwhelming investor demand, with the offer oversubscribed by 540 percent—an outcome that underscores growing confidence in Tanzania’s capital markets.
The ETF, the first regional exchange-traded fund in East Africa, attracted Sh54 billion in applications against a target of Sh10 billion when the offer closed in December 2025. A total of 4,004 investors participated, many of them first-time entrants to the capital markets.
iTrust Finance Chief Executive Officer Mr Faiz Arab said the fund began investing on January 20 and had already posted a 6.49 percent gain in net asset value, rising from Sh1,000 to Sh1,064 within its first week of operation.
“This listing marks the first capital markets debut of 2026 and becomes the second ETF to be listed on the DSE,” he said.
Dar es Salaam Stock Exchange Chief Business Development Officer Mr Emmanuel Nyalali said the listing reinforces ongoing efforts to diversify investment products, deepen market liquidity and broaden investor participation.
He noted that the introduction of regional products such as the iTrust ETF is in line with the exchange’s strategy to position the DSE as a competitive platform offering a wide range of investment opportunities to both local and international investors.
Capital Markets and Securities Authority (CMSA) Chief Executive Officer CPA Nicodemus Mkama described the listing as a historic milestone for Tanzania’s capital markets and the broader economy.
“This ETF is the first regional large-cap fund in East Africa to be listed in Tanzania, marking a significant achievement for iTrust Finance Limited and for the development of capital markets in the region,” he said. Mr Mkama said the fund, which is managed by iTrust Finance Limited with NBC Bank serving as custodian, is approved and supervised by the CMSA.
He added that the public offer raised Sh54.03 billion against a target of Sh10 billion, with strong participation from local retail investors. “This success reflects growing investor confidence in Tanzania’s capital markets and the enabling regulatory environment provided by CMSA,” he said.
According to the regulator, the listing is expected to enhance liquidity, improve price discovery and expand investor participation, thereby contributing meaningfully to economic growth.
Mr Mkama said the CMSA remains committed to supporting innovative products that strengthen the capital markets and promote inclusive economic development.
National Bank of Commerce (NBC) official Mr Elvis Ndunguru, speaking on behalf of Managing Director Mr Theobald Sabu, said the strong subscription reflects investor confidence in Tanzania’s regulatory framework and capital market institutions.
He said NBC, as the ETF’s custodian, is working alongside Absa Kenya and Absa Uganda as sub-custodians to support the fund’s regional investment structure.
Market analysts said the successful listing highlights rising demand for professionally managed and transparent investment products, as Tanzania continues to position itself as a regional financial hub.
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