Verified closeDSE · BoT · frozen to the covered session17 Jul 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.
Weekly overview — the week in review, frozen at Saturday’s publication and covering the 17 Jul 2026 verified close (the week’s last verified session). Its figures are frozen to that close; for today’s live moves see Markets.
Weekly market scoreboard
2026-07-17 close · change ON THE WEEK · DSE · BoT · NBS
DSE All-Share
4,111.98
▲ +0.72%
DSEI · 17 Jul close · latest verified
Tanzania Share Index
8,969.32
▲ +0.57%
USD / TZS
2,637
▲ +0.08%
BoT mean · hard-currency lens
Gold · $/oz
$4,023
▼ -2.94%
world spot · reserve/hedge lens
BoT rate
6.25%
policy
CBR · policy anchor
91-day T-bill
3.35%
▼ -10bp
BoT WAR · vs prior auction
364-day T-bill
7.03%
▼ -9bp
BoT WAR · vs prior auction
Inflation
4.0%
latest print
NBS · monthly
The read: the Friday close, with the move across the whole week beside it — not the one-session change the daily Brief shows. The implication: the index level alone never says whether the week was broad or carried by a couple of names — breadth and turnover do.
DSE weekly tape check
DSE · 5 verified sessions to 2026-07-17
Sessions
5
verified DSE closes
Weekly turnover
TZS 177.0bn
sum of the week's value traded
Breadth
0 up / 0 down
1 unchanged · counters that moved across the week
Best session
+0.28%
2026-07-15
Worst session
-0.04%
2026-07-13
Peak concentration
97%
CRDB carried 2026-07-14
Concentration by session — the top name’s share of each session’s turnover
2026-07-13 · KCB
35%
2026-07-14 · CRDB
97%
2026-07-15 · NMB
45%
2026-07-16 · CRDB
93%
2026-07-17 · CRDB
96%
What the index hid: highly concentrated — the single heaviest name took 97% of one session’s turnover. A week can look active and still be carried by one counter. Each close, fully broken down — After the Bell →
The hurdle rate
Bank of Tanzania · WARs as at 2026-07-15
CBR · policy anchor
6.25%
91-day WAR · the front end
3.35%
182-day WAR
4.78%
364-day WAR · income anchor
7.03%
How to read this: short government paper is the opportunity cost of taking equity risk. Why it matters: the higher the front end sits, the more dividends, earnings growth and liquidity equities must deliver to clear it. Educational — not advice.
The transmission chain
How a weaker shilling reaches the shopping basket
The shilling
USD/TZS 2,637
▲ +0.08%
2026-07-23 · Bank of Tanzania
→
Fuel cap
Diesel TZS 4,182/l
▼ -1.55%
2026-07 · EWURA · monthly cap
→
Food
Maize TZS 76,250/t
▼ -0.33%
2026-07-01 · Wholesale · MIT
→
Cost of living
CPI 4.0%
latest print
June 2026 headline · NBS · monthly
How to read this: each link carries its own authority and its own lag — FX moves daily, fuel caps monthly, food weekly, CPI monthly. Why it matters: this is the chain that turns a currency move into a cost-of-living move. Descriptive, not predictive — the links are shown, not forecast.
KANZA CAPITAL PARTNERSThe Weekly Brief
The DSE week to 17 Jul
DSEI +0.72% · TSI +0.57% · USD/TZS +0.08% on the week
Read: Headline and domestic agreed.
Weekly moves computed from verified closes · 2026-07-17kanzacapitalpartners.com · education, not advice
The week card — built to be screenshotted and shared. Every figure is computed from the verified record.
The week in 90 seconds
The DSE claws back its early-July dip — up 0.72% on three straight gains, back within a whisker of its record
The index rose 0.72% — but more names fell than rose
The mid-week auction pushed the front end further from policy, not toward it
A recovery week, quietly led. The All-Share gave back nothing net — it added 0.72% and closed within 0.12% of its 3 Jul record — but it did so on two soft opening sessions and three modest gains, not a surge. The tell is beneath the index: Friday-to-Friday, 11 counters fell against 8 that rose, so the large banks (NMB at a fresh 52-week high, CRDB steady) carried a board the wider market did not. Rates moved the other way from the index: the 15 Jul auction pushed the 91-day bill 10bp lower to 3.35%, deepening the gap to the 6.25% policy rate rather than closing it. June inflation eased to 4.0%, and Vision 2050 launched Friday.
Equities
+0.72% on three straight gains, back near the record; but breadth negative, 8 up / 11 down.
Rates
Auction 1203 (15 Jul): 91-day −10bp to 3.35%, 364-day −9bp to 7.03%. Hurdle drifts from policy.
FX / Gold
Shilling flat (+0.08%); gold's world reference −2.9% to $4,023. Neither changes the arithmetic.
Policy
Vision 2050 launched Friday; first follow-through is statutory — NGO alignment, 1,000+ laws for review.
Macro
June CPI 4.0%, inside the band; transport (+13.6% y/y), not food, carries the pressure.
Educational reading of the week · not advice
What this week means
New Tanzanian investor
A +0.72% week reads as a clean recovery, and at the index level it was. But more names fell than rose (11 down, 8 up) — breadth tells you how broad a move really is, where the headline index cannot.
Diaspora investor
In TZS the market rose 0.72%; the shilling was essentially flat (+0.08%), so a hard-currency reader kept almost the full move. Gold's world reference eased ~2.9% — a reminder that the currency is only one leg of the return.
Institutional reader
CRDB was 97% of Tuesday's turnover and 93% of Thursday's — the tape was again dominated by block crossings, not breadth. DSE liquidity remains episodic, and a single line can outweigh a week of ordinary trade.
Foreign investor
The 364-day bill at 7.03% is the hurdle any equity allocation must clear. The 15 Jul auction eased the front end further below the 6.25% CBR — policy is still not passing through to short bills.
Educational interpretation by reader type · not personalised advice.
Did the domestic-only and all-share indices tell the same story over the covered quarter?
The domestic market against the headline index
2026-04-16 = 100 · frozen at the 2026-07-17 covered session
+2.8%TSI · quarter+3.9%DSEI · quarter
Coverage 2026-04-16 → 2026-07-17Vintage 2026-07-17 · finalRevision current · v0
Only declared transformations and compatible comparisons are enabled. The exact state is retained in the URL.
Reuse package · edition 2026-07-17-54d048ce3161
The domestic market against the headline index. Exact values underlying the chart.
Citation and sharing permitted; observation download remains source-restricted.
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.
The week in review
The DSE claws back its early-July dip — up 0.72% on three straight gains, back within a whisker of its record
Signal
4,111.98 ended the week up 0.72% and 8,969.32 up 0.57% — two soft sessions on Monday and Tuesday, then three straight gains into Friday.
Why it matters
It recovers almost all of the pullback from the 3 Jul record of 4,116.73 — Friday's close sits just 0.12% below it. But the advance outran its own breadth: over the week 8 counters rose against 11 that fell, so the large banks carried an index the wider board did not.
What to watch
Whether the All-Share retakes the record on ordinary two-sided breadth rather than another CRDB crossing, and whether the front-end bill rate keeps drifting away from the 6.25% policy rate.
The index rose 0.72% — but more names fell than rose
Signal
Friday-to-Friday breadth was negative: 8 counters up, 11 down, 9 unchanged across the 28-name board. TCCL (+7.21%) and TBL (+2.82%) led; SWIS (−9.89%) and DCB (−9.09%) lagged.
Why it matters
A bank-and-brewer tape. NMB (+0.30%) printed a fresh 52-week high at 16,750 and the two large banks held the index up while the broader board drifted lower.
What to watch
What carries forward: whether next week's gains broaden beyond the large caps, or the record is retaken on another one-name crossing.
Source: DSE · Edition 18 Jul 2026 · Data verified · interpretation: Medium confidence
A sourced review of the full Tanzania market week: the DSE tape and who actually carried it, rates, FX, policy, macro, companies — and what to watch next. Prefer the weekend digest to a daily note? Choose weekly only.
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Rates
The mid-week auction pushed the front end further from policy, not toward it
Signal
Auction 1203 (15 Jul) set the 91-day WAR at 3.35%, −10bp from the 2 Jul auction; the 364-day eased 9bp to 7.03% and the 182-day firmed 8bp to 4.78%. The CBR held at 6.25%.
Why it matters
Last week's open question was whether the mid-July auction would drag the front end toward the 6.25% policy rate. It did the opposite — the 91-day now sits roughly 290bp BELOW the CBR.
What to watch
What carries forward: whether the gap between policy and the bill curve narrows, or short bills stay pinned into August.
Source: BoT · Edition 18 Jul 2026 · Data verified · interpretation: Medium confidence
Shilling effectively flat; gold's world reference softer
Signal
USD/TZS eased about 0.08% to 2,636.63 by Friday — flat in practice. The Tume ya Madini world gold reference fell to $4,023/oz, down ~2.9% on the week from $4,145.
Why it matters
The currency did nothing to change the hard-currency arithmetic; gold's softer week sits against the Bank of Tanzania's continued gold-reserve accumulation, which it frames as reinforcing stability.
What to watch
What carries forward: whether gold steadies above the prior month's range and whether the shilling's slow drift resumes.
Source: BoT · Edition 18 Jul 2026 · Data verified · interpretation: Medium confidence
Vision 2050 launched — and the first follow-through is statutory, not financial
Signal
Dira 2050 launched Friday 17 Jul in Dodoma. Weekend reporting already carries the follow-through: a call for NGOs to align portfolios to the framework, and more than 1,000 laws flagged for review to fit the statute book to it.
Why it matters
The launch was the week's set-piece; the immediate signals are governance and legal alignment, not yet named financing vehicles — which remain the market's real question.
What to watch
What carries forward: which flagship projects — LNG-Lindi foremost — get named financing vehicles and co-investors.
Source: Open-source reporting · Edition 18 Jul 2026 · Data open-source · interpretation: Medium confidence
Macro
June inflation eased to 4.0% — the band test passed
Signal
June headline CPI eased to 4.0% y/y from May's 4.2%, inside the 3–5% band. Food fell 0.7% m/m while transport rose 1.6% m/m (+13.6% y/y).
Why it matters
It is the first full month in which both the fuel-subsidy exit and the 2 Jul 50bp hike could show through — and transport, not food, is carrying the pressure.
What to watch
What carries forward: whether transport pass-through keeps building, and whether a contained print keeps the policy rate on hold.
Source: NBS · Edition 18 Jul 2026 · Data verified · interpretation: Medium confidence
The Ghost
The model book
The Ghost's hypothetical TZS 500m model book is +4.31% since inception, its largest equity allocation a bank — so a week in which NMB reached a fresh 52-week high while broader breadth stayed negative is the terrain it reads most closely.
Ghost relevance: The model book's largest equity allocation is a bank; NMB reached a fresh 52-week high this week (16,750) while the broader board's breadth stayed negative, widening the gap between the large caps and everything else. Educational only; a model-book allocation, never a position or a recommendation.
How these were chosen: not hand-picked — the name that carried the tape, the week’s biggest gain and steepest fall, then the heaviest remaining names. Educational context only — not a recommendation, and never a price target.
After 1203 pushed the 91-day to 3.35% (~290bp below the CBR), the next auction tests whether the front end reconnects to the 6.25% policy rate.
week of 20 Jul 2026
Vision 2050 financing vehicles
Post-launch, the market's question is which flagship projects get named financing vehicles and co-investors — LNG-Lindi foremost.
Mon 20 Jul 2026
CRDB tape concentration
CRDB was 97% of Tuesday's board and 93% of Thursday's — whether ordinary two-sided turnover returns, or the crossings continue.
week of 20 Jul 2026
All-Share vs the 3 Jul record
Friday closed just 0.12% below the 4,116.73 record — whether it retakes it on broad breadth or stalls.
Get the Weekly Brief every weekend.
A sourced review of the full Tanzania market week: the DSE tape and who actually carried it, rates, FX, policy, macro, companies — and what to watch next. Prefer the weekend digest to a daily note? Choose weekly only.
Choose Daily, Weekly, or both — they are separate subscriptions. Information and education only. No advice. No noise. Unsubscribe anytime.
Weekly edition — covers verified DSE sessions Monday–Friday, frozen to the Friday official close. Compiled from open-source reporting for information and education only — not investment advice. Equity and index figures reconcile to the Dar es Salaam Stock Exchange verified close (17 Jul 2026); rates, FX and gold to the Bank of Tanzania; inflation to the NBS. Figures are as reported and require refresh against official data.