A daily reading of Tanzania’s markets, capital and policy, with regional and global forces when they materially change the read. Information and education, never advice.
The Brief is written the morning after the market closes. This edition analyses Tuesday, 28 July 2026; the most recent verified session. Its figures are frozen to that close; for today’s live moves see Markets.
Did the domestic market and the headline index move together or apart over the covered quarter?
Cumulative TSI return minus cumulative DSEI return · frozen at the 2026-07-28 covered session
Only declared transformations and compatible comparisons are enabled. The exact state is retained in the URL.
Reuse package · edition 2026-07-28-f17ca6731f0c
| Date | Relationship | Cumulative gap (pp) |
|---|---|---|
| 2026-04-30 | Cumulative TSI minus DSEI | 0 |
| 2026-05-04 | Cumulative TSI minus DSEI | -0.23 |
| 2026-05-05 | Cumulative TSI minus DSEI | -0.49 |
| 2026-05-06 | Cumulative TSI minus DSEI | -0.77 |
| 2026-05-07 | Cumulative TSI minus DSEI | -1.04 |
| 2026-05-08 | Cumulative TSI minus DSEI | -0.82 |
| 2026-05-11 | Cumulative TSI minus DSEI | -0.34 |
| 2026-05-12 | Cumulative TSI minus DSEI | -0.61 |
| 2026-05-13 | Cumulative TSI minus DSEI | -0.44 |
| 2026-05-14 | Cumulative TSI minus DSEI | -0.72 |
| 2026-05-15 | Cumulative TSI minus DSEI | -0.76 |
| 2026-05-18 | Cumulative TSI minus DSEI | -0.64 |
| 2026-05-19 | Cumulative TSI minus DSEI | -0.59 |
| 2026-05-20 | Cumulative TSI minus DSEI | -0.47 |
| 2026-05-21 | Cumulative TSI minus DSEI | -0.19 |
| 2026-05-22 | Cumulative TSI minus DSEI | -0.15 |
| 2026-05-25 | Cumulative TSI minus DSEI | 0.38 |
| 2026-05-26 | Cumulative TSI minus DSEI | 0.55 |
| 2026-05-28 | Cumulative TSI minus DSEI | 0.85 |
| 2026-05-29 | Cumulative TSI minus DSEI | 0.76 |
| 2026-06-01 | Cumulative TSI minus DSEI | 0.87 |
| 2026-06-02 | Cumulative TSI minus DSEI | 1.21 |
| 2026-06-03 | Cumulative TSI minus DSEI | 0.96 |
| 2026-06-04 | Cumulative TSI minus DSEI | 1.06 |
| 2026-06-05 | Cumulative TSI minus DSEI | 1.25 |
| 2026-06-08 | Cumulative TSI minus DSEI | 1.09 |
| 2026-06-09 | Cumulative TSI minus DSEI | 0.8 |
| 2026-06-10 | Cumulative TSI minus DSEI | 0.42 |
| 2026-06-11 | Cumulative TSI minus DSEI | 0.22 |
| 2026-06-12 | Cumulative TSI minus DSEI | -0.1 |
| 2026-06-15 | Cumulative TSI minus DSEI | -0.5 |
| 2026-06-16 | Cumulative TSI minus DSEI | -0.34 |
| 2026-06-17 | Cumulative TSI minus DSEI | -0.43 |
| 2026-06-18 | Cumulative TSI minus DSEI | -0.93 |
| 2026-06-19 | Cumulative TSI minus DSEI | -0.81 |
| 2026-06-22 | Cumulative TSI minus DSEI | -0.43 |
| 2026-06-23 | Cumulative TSI minus DSEI | -0.63 |
| 2026-06-24 | Cumulative TSI minus DSEI | -0.73 |
| 2026-06-25 | Cumulative TSI minus DSEI | -1.71 |
| 2026-06-26 | Cumulative TSI minus DSEI | -2.27 |
| 2026-06-29 | Cumulative TSI minus DSEI | -2.33 |
| 2026-06-30 | Cumulative TSI minus DSEI | -2.06 |
| 2026-07-01 | Cumulative TSI minus DSEI | -1.34 |
| 2026-07-02 | Cumulative TSI minus DSEI | -1.55 |
| 2026-07-03 | Cumulative TSI minus DSEI | -1.24 |
| 2026-07-06 | Cumulative TSI minus DSEI | -1.08 |
| 2026-07-08 | Cumulative TSI minus DSEI | -1.31 |
| 2026-07-09 | Cumulative TSI minus DSEI | -1.29 |
| 2026-07-10 | Cumulative TSI minus DSEI | -1.28 |
| 2026-07-13 | Cumulative TSI minus DSEI | -1.3 |
| 2026-07-14 | Cumulative TSI minus DSEI | -1.5 |
| 2026-07-15 | Cumulative TSI minus DSEI | -1.34 |
| 2026-07-16 | Cumulative TSI minus DSEI | -1.54 |
| 2026-07-17 | Cumulative TSI minus DSEI | -1.43 |
| 2026-07-20 | Cumulative TSI minus DSEI | -1.4 |
| 2026-07-21 | Cumulative TSI minus DSEI | -1.24 |
| 2026-07-22 | Cumulative TSI minus DSEI | -1.15 |
| 2026-07-23 | Cumulative TSI minus DSEI | -1.05 |
| 2026-07-24 | Cumulative TSI minus DSEI | -2.15 |
| 2026-07-27 | Cumulative TSI minus DSEI | -1.16 |
| 2026-07-28 | Cumulative TSI minus DSEI | -0.76 |
2026-07-28-f17ca6731f0c · revision log →dse-daily-market-indicescumulative-excess-return; cumulative sum(TSI session return minus DSEI session return)Read: Above zero means the domestic index led. Below zero means the all-share led. A flat line near zero means their paths were similar.
Index scope differs. The measure adds only sessions with comparable published returns and is not a portfolio return. The excluded session remains disclosed in the values table.
Descriptive flags from the verified DSE close; not signals, predictions, or advice. The official close, fully broken down; After the Bell →
4,163.44 rose 0.52% and 9,142.89 0.92%; turnover was TZS 5.07bn, with NMB and CRDB supplying 89.1%.
Price breadth improved across every domestic sector index, but funded activity remained concentrated in two bank counters.
Whether turnover spreads beyond NMB and CRDB, and whether VODA and TCCL retain two-sided depth after their price moves.
VODA gained another 8.29% to TZS 980 on TZS 270.3m turnover after Q1 service revenue grew 21.7% and EBITDA 37%.
A second price move confirms follow-through, but lower turnover and a soft prior-year base limit what can be inferred about durable demand.
Order depth, the 38.3% EBITDA margin, capex and finance costs at the next quarterly filing and dividend decision.
A free daily Tanzania market-intelligence note covering DSE moves, rates, FX, policy, macro signals and what to watch next.
IFC issued TZS 262.5bn for five years at 7.60%; proceeds support an equivalent shilling loan to NMB for MSMEs.
The structure brings offshore institutional capital into local-currency lending without adding Tanzanian sovereign foreign-currency debt.
NMB's MSME deployment, the 20% women-owned-business allocation and subsequent credit performance; no dates are disclosed.
NMB's 1-for-10 subdivision lifts listed shares from 500m to 5bn; post-split trading starts 24 August, with no value dilution.
The lower trading ticket may widen participation, but it adds no capital and changes no holder's proportionate economic interest.
The 20 to 21 August pause, 21 August register close, then order count, spread and turnover after the 24 August restart.
TRA announced stronger IMF cooperation on tax administration; no programme scope, funding or binding reform package was disclosed.
It is an official capacity-building signal, but its capital relevance remains conditional on defined measures and execution.
A published technical-assistance scope, named tax-system measures and any linkage to a dated IMF programme review.
The Ghost's hypothetical TZS 500m model book is +7.50% since inception at its 28 Jul mark. VODA's second move and NMB's split and funding events sit inside a bank-and-mobile-heavy model-book allocation; they are terrain for studying concentration, liquidity and event mechanics, not trades.
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 →| When | Event | Why it matters |
|---|---|---|
| 29 Jul 2026 · 21:00 EAT | US FOMC decision | The scheduled decision resets the near-term dollar-rate backdrop; later BoT FX sheets will show whether the pre-decision shilling drift extends. |
| Date unannounced | Next verified BoT T-bill result | Auction No. 1203 remains latest; the next posted result tests whether the 91-day yield remains about 290bp below the 6.25% CBR. |
| 30 Jul 2026 | Bank of England decision | The vote reveals whether energy pass-through or subdued private demand dominates the committee's risk balance. |
| 20 to 24 Aug 2026 | NMB share-subdivision window | The pause, register close and restart create the first observable test of order count, spread and traded-value depth. |
A free daily Tanzania market-intelligence note covering DSE moves, rates, FX, policy, macro signals and what to watch next.
Compiled from public sources for information and education only; not investment advice, and not a forecast. Equity and index figures reconcile to the Dar es Salaam Stock Exchange verified close (28 Jul 2026); rates and FX to the Bank of Tanzania; inflation to the NBS. The current Wire hand-off was read first: its primary-grade TRA to IMF candidate is included, and its secondary TZS 265.2bn IFC bond figure was corrected to the primary TZS 262.5bn term. Foreign-flow data was unavailable in the official session snapshot and is omitted. For live market levels see Markets.