KCP. USD/TZS 2,637
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.
Terrain · the world The Ghost operates in

Fixed Income

T-bonds, T-bills and corporate credit — the real-yield ballast that keeps the book positive when equities wobble.

The lay of the land

Why the anchor matters

Fixed income is the ballast — the mandate gives it a 25 to 50 percent band and one job: keep the book from sinking when the equity sleeve has a bad week. Tanzanian government paper carries some of the highest real yields in the region, so the anchor doesn't just defend; it earns its keep while it waits. That is the quiet advantage the Ghost is built around.

The approach is plain: hold the curve where the real yield is paid to wait, roll the short end for liquidity, and reach for corporate credit only where disclosure earns the spread. It compounds slowly and almost never makes the headline — which is exactly the point.

T-bonds

The anchor

The TZS risk-free rate across the curve. Where the Ghost locks in real yield and sets the floor under the whole book.

T-bills

The liquidity

The short end — rolling yield and dry powder. The sleeve the Ghost trims first when a new equity idea earns the capital.

Corporate bonds

The spread

Credit over govvies where the disclosure supports it. Watched closely, held selectively — the spread has to pay for the risk.

The ballast, marked to the close
The Ghost's fixed-income sleeve — rebased to 100 at inception
A slow, deliberate grind. The sleeve is rebased to 100 on 6 June 2026 and accrues real yield day by day — the line you want to stay boring while the equity sleeve does the moving.

How has the fixed-income sleeve accrued since model-book inception?

The Ghost’s fixed-income sleeve, rebased to 100

Marked from 2026-06-06 to 2026-07-23

Coverage 2026-06-06 → 2026-07-23 Vintage 2026-07-23 · final Revision current · v0
The Ghost’s fixed-income sleeve, rebased to 100. Exact values underlying the chart.
DateSeriesValue
2026-06-06Fixed income100
2026-06-21Fixed income100.05
2026-06-24Fixed income100.13
2026-06-25Fixed income100.15
2026-06-26Fixed income100.17
2026-06-29Fixed income100.25
2026-07-01Fixed income100.25
2026-07-03Fixed income100.3
2026-07-06Fixed income100.39
2026-07-09Fixed income100.47
2026-07-10Fixed income100.49
2026-07-13Fixed income100.58
2026-07-14Fixed income100.61
2026-07-15Fixed income100.63
2026-07-16Fixed income100.65
2026-07-17Fixed income100.67
2026-07-20Fixed income100.76
2026-07-21Fixed income100.78
2026-07-22Fixed income100.8
2026-07-23Fixed income100.83

Read: The path is gradual because the sleeve is designed to accrue rather than mirror equity-price volatility.

Hypothetical model book. This is educational evidence, not a recommendation or client track record.

Source: KCP · Bank of Tanzania & DSE reference yieldsSince 6 Jun 2026 · rebased to 100
In the journey

How The Ghost has used this terrain

The live terrain

The board behind the reading

The Ghost reads this off the platform’s live market page — the same data, updated as it’s captured. Educational and informational only.

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Follow the terrain as The Ghost crosses it.

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