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Kanza Capital Partners The Ghost
Model-book note — educational only. The Ghost is a hypothetical model portfolio used to explain Tanzanian market structure, allocation reasoning and risk — not investment advice, a recommendation, or a live client portfolio. Holdings are illustrative; prices and liquidity may be stale or thin. Figures reconcile to their sources as at the date shown on each mark.
The Moves · the public decision ledger

The Moves — every decision, newest first

Every allocation, adjustment, hold and deliberate non-decision — the whole reasoning behind each, kept in public so the book never contradicts itself.

What counts as a move? A move can be action or restraint. The Ghost logs additions, trims, openings, holds and deliberate non-decisions — because not moving is still a portfolio decision. A frontier-market book earns trust by showing when it chose to wait.
Current model-book state
Contributed capital
Latest model NAV
Money-weighted return
Largest equity allocationNMB Bank
Latest moveA record cools · Chapter 07 (11 Jul)
Terrain last touchedEquities (held)

Hypothetical model book, marked to the latest verified sources. See the full book →

Capital is not performance. Monthly savings increase the size of the model book, but they don't count as market gains. The ledger separates contributions, allocation changes and market P&L so the book never flatters itself — a deposit is not a gain.
Latest decisions
The decision ledger
ChDateTypeTerrainAmount / weightFunded fromRationaleStatus
0711 Jul 2026Weekly · holdEquities (banks)The record cooled; the book still holds — no drift to correctPublished · Read
064 Jul 2026Weekly · holdEquities (banks)Three record closes in a row — do nothing, on purposePublished · Read
051 Jul 2026Monthly · addEquities + T-billsTSh 4m / 3mNew savingsFeed the under-weight sleeves that had roomPublished · Read
0420 Jun 2026 · Wk 25Weekly · openCommodities (gold)~4%CashOpen a small reserve-accumulation hedgePublished · Read
03Week 25Hold · non-decisionEquities (banks)Let the bank winners run rather than take the easy profitArchived · Journey
02Week 24Research · rulesCommoditiesSet the gold rules before opening any positionArchived · Terrain
01Week 23Park cash · holdFixed incomeCashPatience in T-bills while waiting for a decision worth makingArchived · Journey
00OriginOrigin · methodMethodThe premise, the mandate, and the rules it lives byArchived · Read
Newest first. A hold or a "wait" is logged as a move — not moving is still a decision. Educational; hypothetical model book.
The decision rules
Before every move — action or restraint — The Ghost asks:
  1. Band — is any sleeve too light or too heavy versus the mandate?
  2. Evidence — has the terrain changed enough to justify acting?
  3. Liquidity — can the model act without pretending the market is deeper than it is?
  4. Attribution — is this contribution, market P&L, or an allocation change?
  5. Lesson — what should a new investor learn from it?
Continue the trail

Watch the next decision get written.

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