Tanzania’s Dar es Salaam Stock Exchange PLC gets new CEO

Dar es Salaam. The board of directors of the Dar es Salaam Stock Exchange PLC has appointed Peter Situmbeko Nalitolela as the new chief executive officer, effective August 1, 2024.

Mr Nalitolela succeeds Moremi Marwa, who held the position for nine years.

Mr Marwa’s tenure concluded in 2022, and since then, Ms Mary Mniwasa has been serving as the acting CEO.

The appointment was approved during the 30th Extraordinary Meeting held on June 24, 2024, the board said in a statement on July 25, 2024.

“Mr Nalitolela brings a wealth of experience and expertise from large public and private sector organisations, most recently serving as director and Head of Treasury and Financial Markets at the National Bank of Commerce (NBC),” a statement posted on DSE website said.

It was signed by chairperson of the DSE board of directors, Dr Ellinami Minja.

At NBC, where he served for six years, Mr Nalitolela managed funding risk, market risk, and the sales and trading business.

He was responsible for offering various market products such as foreign currency (FX), fixed income (FI) sales, and risk management products (derivatives).

Mr Nalitolela’s LinkedIn profile showcases his extensive experience, including six years at Barclays and lecturing at the University of Dar es Salaam.

His career also includes notable roles at Songas Limited, Airtel Tanzania, and the Unit Trust of Tanzania.

“He has financial markets experience with exposure to major sectors of the economy and international knowledge of global markets, having engaged in primary and secondary markets,” the the statement said.

Endowed with leadership skills rooted in humility and mindfulness, Mr Nalitolela is well-positioned to drive growth and innovation at the DSE.