Raphael Masumbuko
Raphael Masumbuko is a market analyst and the chief executive of Zan Securities Limited, known for his insights into the Tanzanian equities market, which has seen significant gains in 2025 due to new trading rules and strong corporate earnings.
Not in the pool (under ¢1).
Recent news mentions
Raphael Masumbuko, chief executive officer of Zan Securities, commented on the share split and dividend package as key drivers of market activity.
NMB Bank’s share split fuels Dar stock market rally as turnover jumps 277 percent
Tanzania· 2026-06-30Zan Securities Limited CEO Raphael Masumbuko noted that the current slowdown may be linked to election-related uncertainty.
DSE trading slows as investors adopt wait-and-see stance ahead of pollsTanzania· 2025-10-28
Raphael Masumbuko is a market analyst and chief executive of Zan Securities Limited.
Tanzania’s equities market surges by $1.4bn over a year – The Mail & Guardian
South Africa· 2025-10-13
Mr Raphael Masumbuko, CEO of Zan Securities, emphasized the importance of transparency for accurate tax assessment and compliance with revenue laws.
Govt to reassess telecom companies' necessity to list shares on DSETanzania· 2025-02-22
