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A) CMSA and DSE Fees for Main Investment Market Segment (MIMS)

By Kenneth Hernandez,2014-08-11 18:28
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A) CMSA and DSE Fees for Main Investment Market Segment (MIMS)

    FEE STRUCTURE FOR CAPITAL MARKETS TRANSACTIONS IN

    TANZANIA

    1. Capital Markets and Securities Authority’s Fee Structure.

     Exchange Interim Broker / InvestmeCollective Dealers Investors

     Stock Dealer nt InvestmenRepresen

     trading Advisers t Schemes tative

     facility

Application fees not 50,000 50,000 50,000 50,000 50,000 30,000

    refundable in TZS

Admission fee in TZS 500,000 500,000 500,000 500,000 500,000

    1,000,000 Annual fees to be 2,000,000 500,000 250,000 1,000,000 250,000

    reviewed as the

    market grows in

    TZS

    Replacement of 100,000 100,000 25,000 12,500 25,000 12,500

    license in TZS

    Gross earnings 1% 1%

    Transaction fees

     - Seller .01% .14%

     - Buyer .01% .14% 2. CMSA and DSE Fees for Main Investment Market Segment (MIMS)

     a) CMSA Prospectus Evaluation Fee:

    Market value of shares Fees charged

    TZS 1 billion or less TZS 2 million

    Between TZS 1 billion and TZS 5 billion TZS 2 million plus 0.2% of the

    amount exceeding TZS 1 billion

    Between TZS 5 billion and TZS 10 TZS 10 million plus 0.1% of the billion amount exceeding TZS 5 billion

    More than TZS 10 billion TZS 15 million plus 0.05% of the

    amount exceeding TZS 10 billion

     b) DSE Listing Fee:

    Initial Listing Fee (when a company 0.2% of the value of the securities comes to the market for the first time) to be listed (Min. TZS 2 million -

    Max. TZS 20 million)

    Additional Listing Fee (payable by a 0.1% of the market value of the company already listed and is seeking additional securities to be listed

listing of additional securities) (Min. TZS 1 million - Max. TZS 10

    million)

    Annual Listing Fee (payable annually by 0.05% of market capitalization at a

    all listed companies) particular date (Min. TZS 2 million

    - Max. TZS 10 million)

    Offer for sale fee (holder of large block 0.15% of the market value of of securities offering to sell to the public securities being sold subject to a investor) minimum of TZS 2,000,000 and

    maximum of TZS 20 million)

3. CMSA and DSE Fees for the Enterprise Growth Market Segment (EGM)

     a) CMSA Prospectus Evaluation Fee.

Market value of shares Fees charged

    TZS 1 billion or less TZS 1 million

    Between TZS 1 billion and TZS 5 billion TZS 1 million plus 0.1% of the

    amount exceeding TZS 1 billion

    Between TZS 5 billion and TZS 10 TZS 5 million plus 0.05% of the billion amount exceeding TZS 5 billion

    More than TZS 10 billion TZS 7.5 million plus 0.025% of the

    amount exceeding TZS 10 billion

     b) DSE Listing Fees

    Initial Listing Fee (when a company 0.1% of the value of the securities comes to the market for the first time) to be listed (Min. TZS 1 million -

    Max. TZS 10 million)

    Additional Listing Fee (payable by a 0.05% of the market value of the company already listed and is seeking additional securities to be listed listing of additional securities) (Min. TZS 500,000 - Max. TZS 5

    million)

    Annual Listing Fee (payable annually by 0.025% of market capitalization all listed companies) (Min. TZS 1 million - Max. TZS 10

    million)

4. Transaction Fees.

a) Transaction fees are payable by investors when buying and selling

    equity securities at the exchange.

    Total Brokerage CMSA levy DSE levy Fidelity Total CDS fees Consideration commissifees Commission (value) on chargeable

    First TZS. 10 1.7% 0.14% 0.14% 0.02% 2.00% TZS. 100 Million

    Next 40 Million 1.5% 0.14% 0.14% 0.02% 1.80% TZS. 100 Amount 0.8% 0.14% 0.14% 0.02% 1.10% TZS. 100 exceeding TZS.

    50 Million

The minimum transaction fee is however TZS. 1,000 in the event the 2% is less

    than TZS.1,000

     b) Transaction fees on debt securities (bonds)

Value of Bond Trades Brokerage commission

    Up to TZS. 40 Million 1/16%

    Value over TZS. 40 Million 1/32%

    Minimum amount of brokerage commission TZS.5,000

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