USD / TZS 2,632Gold · $/oz $3,988BoT rate 5.75%Inflation 4.0% 24 Jun 2026 verified close
Tanzania Intelligence

The Brief

Vol. I · No. 176
Thursday, 25 June 2026
Verified closeDSE · BoT · frozen to the covered session24 Jun 2026 verified close

A daily reading of the forces shaping Tanzania’s economy, markets and statecraft — and the world that moves them. Information and education, never advice.

The Brief is written the morning after the market closes. This edition analyses Wednesday, 24 June 2026 — the most recent verified session. Its figures are frozen to that close; for today’s live moves see Markets.


DSE All-Share
3,931.59▲ 0.38%
DSEI · vs 22 Jun
Tanzania Share Index
8,635.74
TSI · 24 Jun · domestic
USD / TZS
2,632
−6.1% YTD
Gold · $/oz
$3,988
as at 25 Jun
BoT rate
5.75%
3rd hold
91-day T-bill
3.35%
BoT WAR · latest auction
364-day T-bill
7.03%
BoT WAR · latest auction
Inflation
4.0%
Apr
Today in 60 seconds
  1. Tanzania enters 2026/27 with a record budget and a 25-year horizon
  2. DSE adds 1.35% in Week 25 as turnover jumps 81%
  3. BoT holds at 5.75% for a third quarter; 364-day T-bill at 6.92%
WatchFY2026/27 budget & DIRA 2050 take legal effect1 Jul 2026
Read the full Brief ↓

Did the domestic-only and all-share indices tell the same story over the covered quarter?

The domestic market against the headline index

2026-03-24 = 100 · frozen at the 2026-06-24 covered session

-0.4%TSI · quarter-0.1%DSEI · quarter
Coverage 2026-03-24 → 2026-06-24 Vintage 2026-06-24 · final Revision current · v0
The domestic market against the headline index. Exact values underlying the chart.
DateIndexRebasedRaw level
2026-03-24Tanzania Share Index1008,673.12
2026-03-25Tanzania Share Index99.74838,651.29
2026-03-26Tanzania Share Index99.61898,640.07
2026-03-27Tanzania Share Index99.62718,640.78
2026-03-30Tanzania Share Index99.23648,606.89
2026-03-31Tanzania Share Index98.0478,503.73
2026-04-01Tanzania Share Index97.67568,471.52
2026-04-02Tanzania Share Index97.49468,455.82
2026-04-08Tanzania Share Index97.77858,480.45
2026-04-09Tanzania Share Index98.93218,580.5
2026-04-10Tanzania Share Index100.60648,725.71
2026-04-13Tanzania Share Index101.27178,783.42
2026-04-14Tanzania Share Index101.96528,843.56
2026-04-15Tanzania Share Index101.60278,812.12
2026-04-16Tanzania Share Index100.56448,722.07
2026-04-17Tanzania Share Index99.36498,618.04
2026-04-20Tanzania Share Index98.80658,569.61
2026-04-21Tanzania Share Index98.69928,560.3
2026-04-22Tanzania Share Index98.66138,557.01
2026-04-23Tanzania Share Index98.05278,504.23
2026-04-24Tanzania Share Index97.59068,464.15
2026-04-27Tanzania Share Index97.28418,437.57
2026-04-28Tanzania Share Index98.21878,518.63
2026-04-29Tanzania Share Index99.7498,651.35
2026-04-30Tanzania Share Index100.02418,675.21
2026-05-04Tanzania Share Index98.67218,557.95
2026-05-05Tanzania Share Index97.43168,450.36
2026-05-06Tanzania Share Index96.32548,354.42
2026-05-07Tanzania Share Index95.48418,281.45
2026-05-08Tanzania Share Index96.53828,372.87
2026-05-11Tanzania Share Index98.06238,505.06
2026-05-12Tanzania Share Index98.05198,504.16
2026-05-13Tanzania Share Index97.63148,467.69
2026-05-14Tanzania Share Index97.05158,417.39
2026-05-15Tanzania Share Index96.95478,409
2026-05-18Tanzania Share Index97.40348,447.91
2026-05-19Tanzania Share Index97.54618,460.29
2026-05-20Tanzania Share Index97.2758,436.78
2026-05-21Tanzania Share Index98.29838,525.53
2026-05-22Tanzania Share Index98.72128,562.21
2026-05-25Tanzania Share Index100.4358,710.85
2026-05-26Tanzania Share Index101.06328,765.33
2026-05-28Tanzania Share Index101.29778,785.67
2026-05-29Tanzania Share Index101.16888,774.49
2026-06-01Tanzania Share Index101.60628,812.43
2026-06-02Tanzania Share Index102.26828,869.84
2026-06-03Tanzania Share Index101.82118,831.07
2026-06-04Tanzania Share Index102.16898,861.23
2026-06-05Tanzania Share Index101.63078,814.55
2026-06-08Tanzania Share Index101.66928,817.89
2026-06-09Tanzania Share Index101.21958,778.89
2026-06-10Tanzania Share Index100.61788,726.7
2026-06-11Tanzania Share Index99.63318,641.3
2026-06-12Tanzania Share Index99.08918,594.12
2026-06-15Tanzania Share Index98.01968,501.36
2026-06-16Tanzania Share Index99.08218,593.51
2026-06-17Tanzania Share Index99.37218,618.66
2026-06-18Tanzania Share Index99.83718,658.99
2026-06-19Tanzania Share Index99.71648,648.52
2026-06-22Tanzania Share Index99.42348,623.11
2026-06-23Tanzania Share Index99.29678,612.12
2026-06-24Tanzania Share Index99.5698,635.74
2026-03-24DSE All Share1003,937.22
2026-03-25DSE All Share99.63683,922.92
2026-03-26DSE All Share98.98153,897.12
2026-03-27DSE All Share98.98463,897.24
2026-03-30DSE All Share98.52333,879.08
2026-03-31DSE All Share97.77083,849.45
2026-04-01DSE All Share97.56123,841.2
2026-04-02DSE All Share97.53943,840.34
2026-04-08DSE All Share98.10983,862.8
2026-04-09DSE All Share99.14053,903.38
2026-04-10DSE All Share100.38023,952.19
2026-04-13DSE All Share101.08963,980.12
2026-04-14DSE All Share101.79824,008.02
2026-04-15DSE All Share101.56023,998.65
2026-04-16DSE All Share100.49733,956.8
2026-04-17DSE All Share99.48643,917
2026-04-20DSE All Share98.9173,894.58
2026-04-21DSE All Share98.67193,884.93
2026-04-22DSE All Share98.72883,887.17
2026-04-23DSE All Share98.10883,862.76
2026-04-24DSE All Share98.05043,860.46
2026-04-27DSE All Share97.80893,850.95
2026-04-28DSE All Share98.52083,878.98
2026-04-29DSE All Share99.44023,915.18
2026-04-30DSE All Share99.54413,919.27
2026-05-04DSE All Share98.43193,875.48
2026-05-05DSE All Share97.44793,836.74
2026-05-06DSE All Share96.61723,804.03
2026-05-07DSE All Share96.02643,780.77
2026-05-08DSE All Share96.87443,814.16
2026-05-11DSE All Share97.94023,856.12
2026-05-12DSE All Share98.19823,866.28
2026-05-13DSE All Share97.6123,843.2
2026-05-14DSE All Share97.30673,831.18
2026-05-15DSE All Share97.24323,828.68
2026-05-18DSE All Share97.57423,841.71
2026-05-19DSE All Share97.67223,845.57
2026-05-20DSE All Share97.28213,830.21
2026-05-21DSE All Share98.03573,859.88
2026-05-22DSE All Share98.4213,875.05
2026-05-25DSE All Share99.59953,921.45
2026-05-26DSE All Share100.05333,939.32
2026-05-28DSE All Share99.99143,936.88
2026-05-29DSE All Share99.95583,935.48
2026-06-01DSE All Share100.27893,948.2
2026-06-02DSE All Share100.59153,960.51
2026-06-03DSE All Share100.40053,952.99
2026-06-04DSE All Share100.6393,962.38
2026-06-05DSE All Share99.92023,934.08
2026-06-08DSE All Share100.11683,941.82
2026-06-09DSE All Share99.96093,935.68
2026-06-10DSE All Share99.75063,927.4
2026-06-11DSE All Share98.97063,896.69
2026-06-12DSE All Share98.75093,888.04
2026-06-15DSE All Share98.07583,861.46
2026-06-16DSE All Share98.98963,897.44
2026-06-17DSE All Share99.36783,912.33
2026-06-18DSE All Share100.32763,950.12
2026-06-19DSE All Share100.08313,940.49
2026-06-22DSE All Share99.40593,913.83
2026-06-23DSE All Share99.48343,916.88
2026-06-24DSE All Share99.8573,931.59

Read: The rebased paths show the part of the domestic move that the broader headline index does—and does not—capture.

Index scope differs. Neither line is the return of every constituent or of a reader’s portfolio.

Fiscal Year Turns

Tanzania enters 2026/27 with a record budget and a 25-year horizon

Parliament approved the TZS 62.33tn (about USD 24bn) 2026/27 budget by 385 of 393 votes on 23 June, effective 1 July, committing TZS 1.2tn to clearing arrears and pledging tighter expenditure controls while targeting 6.3% GDP growth. As Vision 2025 reaches its statutory close, the government pivots to DIRA 2050 — a USD 1 trillion ambition launching 1 July, anchored by LNG, Kabanga Nickel, the Liganga–Mchuchuma complex and Engaruka soda ash, with private capital cast as the principal driver.

Source: Open-source reporting · Edition 25 Jun 2026 · Data open-source · interpretation: Medium confidence
Go deeper →
Markets

DSE adds 1.35% in Week 25 as turnover jumps 81%

The Dar es Salaam bourse rose 1.35% week-on-week in Week 25 (15–19 June), lifting total market capitalisation to about TZS 34,234.55bn. Equity turnover surged 81.28% w/w to TZS 48.99bn on 9.27m shares across 24,326 deals, while secondary bond turnover rebounded 242.08% to TZS 173.64bn. AFRIPRISE (+11.57%), EABL (+9.90%) and NMB (+7.03%) led the gainers; TOL (−12.41%) led the fallers, and the Commercial Services index slipped 1.85%.

Source: Dar es Salaam Stock Exchange · Edition 25 Jun 2026
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Rates

BoT holds at 5.75% for a third quarter; 364-day T-bill at 6.92%

The Bank of Tanzania kept the Central Bank Rate at 5.75% for Q2 2026 — a third straight hold — with the 7-day interbank band at 4.25–7.25% and inflation judged contained within the 3–5% objective as Q1 2026 GDP growth reached 6.2%. At auction No. 1201 on 17 June the 364-day weighted-average yield was 6.92%, up about 54bp from 6.38% on 3 June, while the 91-day eased to 3.56% and all tenors were oversubscribed.

Source: Bank of Tanzania · Edition 25 Jun 2026
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Fiscal

TRA collects TZS 28tn in nine months, beating target

The Tanzania Revenue Authority collected TZS 9.31tn in the January–March quarter, up 23.6% year-on-year and above the TZS 8.75tn target, bringing July 2025–March 2026 collections to TZS 28.0tn against a TZS 26.8tn goal. Officials credit voluntary compliance and electronic fiscal systems. The overshoot gives Treasury room to fund the TZS 1.2tn arrears clearance without leaning harder on borrowing as the new fiscal year and DIRA 2050 spending begin together.

Source: Open-source reporting · Edition 25 Jun 2026 · Data open-source · interpretation: Medium confidence
Currency

Shilling broadly stable near 2,632 per dollar

The Bank of Tanzania official mean stood at 2,632.48/USD on 23 June (buy 2,619.39 / sell 2,645.58), little changed from about 2,630 a day earlier. The shilling remains down roughly 6.1% year-to-date, with gross official reserves around USD 6.08bn as at March.

Source: Bank of Tanzania · Edition 25 Jun 2026
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The Ghost

The model book

The Ghost's hypothetical TZS 500m book is +1.81% since inception, with NMB Bank its largest equity position.

Ghost relevance: how today’s rates, FX, gold and inflation read against a hypothetical model-book — educational, not advice.

Open the Ghost tracker → The terrain it reads →
Week ahead — what to watch
WhenEventWhy it matters
1 Jul 2026FY2026/27 budget & DIRA 2050 take legal effect
Early Jul 2026DSE Week 26–27 reports test the +81% turnover spike
Q3 2026Next Bank of Tanzania MPC decision (4th straight hold?)
OngoingStrait of Hormuz shipping & US–Iran peace talks
Get the Daily Brief before the market opens.

A free daily Tanzania market-intelligence note covering DSE moves, rates, FX, policy, macro signals and what to watch next.

Information and education only. No advice. No noise. Unsubscribe anytime.

Compiled from open-source reporting for information and education only — not investment advice. Sources: Bank of Tanzania, Dar es Salaam Stock Exchange, and named press. Figures are as reported and require refresh against official data.

Archive — past editions32
The rise broadens into industrials and services — but CRDB carries more than half the moneyFriday, 24 July 2026The give-back reverses on the heaviest tape in weeks — but three-quarters of it is one Breweries blockThursday, 23 July 2026A second thin give-back leaves the tape 25 points off the high — while the exchange's half-year numbers tell the opposite storyWednesday, 22 July 2026A thin Monday pause nine points under the record, as the rail story hardens from headlines into contractsTuesday, 21 July 2026Monday reopens off Friday's record-adjacent close, into a week with nothing dated on the calendarMonday, 20 July 2026A week with nothing dated on the market calendar — so the question turns to breadth, not dataSunday, 19 July 2026The DSE claws back its early-July dip — up 0.72% on three straight gains, back within a whisker of its recordSaturday, 18 July 2026CRDB supplies 93% of a TZS 55.20bn board while breadth turns negativeFriday, 17 July 2026The crossing did not repeat — turnover falls 28x to TZS 2.71bn and the All-Share gains for the first time in seven sessionsThursday, 16 July 2026CRDB alone was 97% of Tuesday's board — TZS 73.4bn on 27.2m shares as the All-Share eased a sixth sessionWednesday, 15 July 2026Inflation eases to 4.0% in June — the first read after the fuel-subsidy exit and the 50bp hike passes the band testTuesday, 14 July 2026The DSE reopens at 4,082.43 with four declines behind it and the week's two dated events aheadMonday, 13 July 2026Two dated events, one question: what the hurdle rate is, and who pays for the ambitionSunday, 12 July 2026Four sessions, four declines: the DSE gives back a little of its record, and one CRDB crossing carries the tapeSaturday, 11 July 2026The DSE eases in its first full session back as a mild foreign net-selling tilt meets thin breadthFriday, 10 July 2026Saba Saba reframed as a managed trade showcase as the runway to the 17 July Vision 2050 launch clearsThursday, 9 July 2026Saba Saba passes as a shutdown, not a clash: Kariakoo deserted under heavy security as the market reopensWednesday, 8 July 2026Saba Saba day: DSE closed and security deployed across Dar, with a quiet commemoration the base caseTuesday, 7 July 2026Saba Saba eve: rally ban enforced with deployments across Dar as the TPDF warns off protest callsMonday, 6 July 2026Bank of Tanzania lifts the policy rate to 6.25%, the first tightening of the cycleSunday, 5 July 2026DSE All-Share caps a record week at 4,116.73 with a third straight all-time highSaturday, 4 July 2026DSE All-Share extends the record run to 4,090.11 as banks carry the fiscal-year openFriday, 3 July 2026DSE All-Share opens the fiscal year at a record 4,057.22 as domestic counters leadThursday, 2 July 2026Tanzania's record budget and Vision 2050 take legal effect as the execution clock startsWednesday, 1 July 2026Tanzania's record budget and DIRA 2050 take legal effect tomorrow as the fiscal year turnsTuesday, 30 June 2026DIRA 2050's implementation instruments launch today as Tanzania's new fiscal year opensMonday, 29 June 2026Tanzania opens its new fiscal year: DIRA 2050 instruments launch Monday, DSE reopens above 4,000Sunday, 28 June 2026DSE All-Share jumps 2.38% to 4,025 as cross-listed banks outpace the domestic tapeFriday, 26 June 2026Vision 2050 launch nears as DIRA planning instruments reach parliamentWednesday, 24 June 2026DIRA 2050 launches 1 July with a $47bn strategic-project spineTuesday, 23 June 2026TZS 62.33tn FY2026/27 budget takes effect 1 JulyMonday, 22 June 2026Samia to launch Vision (Dira) 2050 instruments on 29 JuneSunday, 21 June 2026