Welcome to TIB Rasilimali

Call Us Directly +255 754 232 035

Our History

TIB RASILIMALI LIMITED (formerly known as RASILIMALI LIMITED) was incorporated on 4 February, 1980 vide certificate of incorporation No.7586 as a wholly owned subsidiary company of TIB Development Bank Limited (formerly known as Tanzania Investment Bank – TIB). Initially established to be a property developer, Rasilimali was transformed into a Financial Services and Securities Dealing Company when the Capital Markets and Securities Authority (CMSA) act of 1994, prohibited banks to undertake the activities of capital market operations unless under a separate independent company that would be regulated by the CMSA.

TIB Rasilimali is a limited liability company established and operating under the Companies Act, Cap 212 of the laws of Tanzania and licensed to conduct the business of Capital Market operations being securities brokerage services, corporate finance and investment advisory in Tanzania. The firm’s registered office is located at Building No.3, Mlimani City , Office Park,Sam Nujoma Road , P. O. Box 9154, Dar es Salaam. TIB Rasilimali is a subsidiary of TIB Development Bank and a member of the TIB Group, as such the firm’s ultimate shareholder is the Government of Tanzania, TIB Rasilimali is thus further governed by the respective laws and directives for State Owned institutions.

The firm first obtained its Capital Markets operator licenses since October 1997, is one of the oldest Brokerage and Advisory firms in the market, the only public sector institution that is a licensed dealing member of the Dar es Salaam Stock Exchange and the only brokerage firm affiliated to a Bank.


Vision and Mission


To be the Licensed Dealing Member (Broker) of choice in the country and East Africa


To be a niche Stock broking firm in the country providing services to all investors, big and small with a focus on customers’ needs and managing customer relationship and service excellence


organization structure photo


Mr. Makurwe Mauna

Ag. Director General

He joined in May 2006,
Holds CPA(T),Authorized Dealer Representative and Licensed Derivatives Trader and Nominated Advisor


Mr. George Sawe

Head of Trading

He joined in January 2018,
Holds MBA in Corporate Management,Derivatives Market, Security Industry Certification, Government Securities System (GSS) Enhancement and Authorizad Dealer Representative

Mr. Kenneth Nzagi

Head of Advisory

He joined in February 2018,
Holds LLM (UK) and LLB(UK),Security Industry Certification and Investiments (SICC), Chartered Institute of Securities and Investments (CISI) UK, Chartered of Institute Secretaries and Administrators (ICSA) UK

Mr. Justine Mahushi

Finance & Administration officer

He joined in June, 2019,
Holds Advanced Diploma in Accountancy (ADA)

Ms. Jesca Kataraia

Client Services and Administration

She joined in December 2008,
Holds the Advanced in Secretarial and Administration Certification, Pitman Institute Examination (PIE), Customer Service Certification, Investment and Securities Certification.


Mr. Williard Martin

Trading Operations Assistant

Holds Investment and Securities Certification


  • Mr.Samwel Minja Marco
  • Board chairman
  • Officer In charge - Funds Mobilization TIB-DFI
  • Holds Bachelor of Commerce-1998,ACI Dealing certification 2004


  • Mr.Patrick Magologozi Mongella
  • Board member
  • Director of Strategic Planning & Corporate Affairs
  • Holds Bachelor of Arts( with minor in Business Management)-1996

  • Mr. Mansoor Mustafa
  • Board member
  • Officer in charge,Portfolio Mnagement
  • Holds Bachelor of Art Planning & environmental Mgt-2003

  • Mr.Osward Urassa
  • Board member
  • Director of Finance TMRC
  • Holds Master of Business Administration(MBA) FCPA (T);NBAA and TAA Fellow, Bachelor of Commerce(Accounting)

  • Irene Kabula Mulhano
  • Board member
  • Senior Financial Analyst Bank of Tanzania
  • Bachelor of science- (Mathematics & physics) 2002

  • Menson Ngahatilwa
  • Board Secretary
  • Director of Legal TIB-DFI
  • Lawyer