KCP. USD/TZS 2,645
Tanzania Share Index 9,172.57 ▲ 0.32%USD / TZS 2,647.78 ▲ 0.01%BoT rate 6.25%Inflation 4.0% 29 Jul 2026 verified close
Tanzania Intelligence

The Brief

Vol. I · No. 211
Thursday, 30 July 2026
Verified closeDSE · BoT · frozen to the covered session29 Jul 2026 verified close

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 Wednesday, 29 July 2026; the most recent verified session. Its figures are frozen to that close; for today’s live moves see Markets.


DSE All-Share
4,173.13▲ 0.23%
29 Jul close · latest verified
Tanzania Share Index
9,172.57
TSI · 29 Jul · domestic
USD / TZS
2,647.78▲ 0.01%
BoT mean · 30 Jul sheet
BoT rate
6.25%
Q3 2026 CBR
91-day T-bill
3.44%
BoT WAR · latest auction
364-day T-bill
6.74%
BoT WAR · latest auction
Inflation
4.0%
June · inside 3 to 5% band
Today in 60 seconds
  1. Indices rose, but two banks carried 92.6% of turnover
  2. Vodacom's operating growth strengthened while reinvestment absorbed cash
  3. CRDB filed its second-quarter report, but the retained evidence has no financial table
WatchCRDB Q2 filing verificationImmediate · date unannounced
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

2026-04-28 = 100 · frozen at the 2026-07-29 covered session

+7.7%TSI · quarter+7.6%DSEI · quarter
Coverage 2026-04-28 → 2026-07-29 Vintage 2026-07-29 · final Revision current · v0
The domestic market against the headline index. Exact values underlying the chart.
DateIndexRebasedRaw level
2026-04-28Tanzania Share Index1008,518.63
2026-04-29Tanzania Share Index101.5588,651.35
2026-04-30Tanzania Share Index101.83818,675.21
2026-05-04Tanzania Share Index100.46168,557.95
2026-05-05Tanzania Share Index99.19868,450.36
2026-05-06Tanzania Share Index98.07238,354.42
2026-05-07Tanzania Share Index97.21578,281.45
2026-05-08Tanzania Share Index98.28898,372.87
2026-05-11Tanzania Share Index99.84078,505.06
2026-05-12Tanzania Share Index99.83018,504.16
2026-05-13Tanzania Share Index99.4028,467.69
2026-05-14Tanzania Share Index98.81158,417.39
2026-05-15Tanzania Share Index98.71318,409
2026-05-18Tanzania Share Index99.16988,447.91
2026-05-19Tanzania Share Index99.31518,460.29
2026-05-20Tanzania Share Index99.03928,436.78
2026-05-21Tanzania Share Index100.0818,525.53
2026-05-22Tanzania Share Index100.51168,562.21
2026-05-25Tanzania Share Index102.25658,710.85
2026-05-26Tanzania Share Index102.8968,765.33
2026-05-28Tanzania Share Index103.13488,785.67
2026-05-29Tanzania Share Index103.00358,774.49
2026-06-01Tanzania Share Index103.44898,812.43
2026-06-02Tanzania Share Index104.12288,869.84
2026-06-03Tanzania Share Index103.66778,831.07
2026-06-04Tanzania Share Index104.02188,861.23
2026-06-05Tanzania Share Index103.47388,814.55
2026-06-08Tanzania Share Index103.5138,817.89
2026-06-09Tanzania Share Index103.05528,778.89
2026-06-10Tanzania Share Index102.44258,726.7
2026-06-11Tanzania Share Index101.448,641.3
2026-06-12Tanzania Share Index100.88628,594.12
2026-06-15Tanzania Share Index99.79738,501.36
2026-06-16Tanzania Share Index100.8798,593.51
2026-06-17Tanzania Share Index101.17428,618.66
2026-06-18Tanzania Share Index101.64778,658.99
2026-06-19Tanzania Share Index101.52488,648.52
2026-06-22Tanzania Share Index101.22658,623.11
2026-06-23Tanzania Share Index101.09758,612.12
2026-06-24Tanzania Share Index101.37488,635.74
2026-06-25Tanzania Share Index101.61698,656.37
2026-06-26Tanzania Share Index102.21628,707.42
2026-06-29Tanzania Share Index102.53268,734.37
2026-06-30Tanzania Share Index103.03428,777.1
2026-07-01Tanzania Share Index103.9918,858.61
2026-07-02Tanzania Share Index104.61748,911.97
2026-07-03Tanzania Share Index105.61668,997.09
2026-07-06Tanzania Share Index105.43598,981.69
2026-07-08Tanzania Share Index105.17088,959.11
2026-07-09Tanzania Share Index104.85918,932.56
2026-07-10Tanzania Share Index104.69148,918.27
2026-07-13Tanzania Share Index104.62478,912.59
2026-07-14Tanzania Share Index104.40148,893.57
2026-07-15Tanzania Share Index104.86438,933
2026-07-16Tanzania Share Index104.94998,940.29
2026-07-17Tanzania Share Index105.29068,969.32
2026-07-20Tanzania Share Index105.09128,952.33
2026-07-21Tanzania Share Index104.98688,943.44
2026-07-22Tanzania Share Index105.32868,972.55
2026-07-23Tanzania Share Index105.71359,005.34
2026-07-24Tanzania Share Index105.518,988.01
2026-07-27Tanzania Share Index106.34889,059.46
2026-07-28Tanzania Share Index107.32829,142.89
2026-07-29Tanzania Share Index107.67669,172.57
2026-04-28DSE All Share1003,878.98
2026-04-29DSE All Share100.93323,915.18
2026-04-30DSE All Share101.03873,919.27
2026-05-04DSE All Share99.90983,875.48
2026-05-05DSE All Share98.91113,836.74
2026-05-06DSE All Share98.06783,804.03
2026-05-07DSE All Share97.46813,780.77
2026-05-08DSE All Share98.32893,814.16
2026-05-11DSE All Share99.41073,856.12
2026-05-12DSE All Share99.67263,866.28
2026-05-13DSE All Share99.07763,843.2
2026-05-14DSE All Share98.76773,831.18
2026-05-15DSE All Share98.70333,828.68
2026-05-18DSE All Share99.03923,841.71
2026-05-19DSE All Share99.13873,845.57
2026-05-20DSE All Share98.74273,830.21
2026-05-21DSE All Share99.50763,859.88
2026-05-22DSE All Share99.89873,875.05
2026-05-25DSE All Share101.09493,921.45
2026-05-26DSE All Share101.55563,939.32
2026-05-28DSE All Share101.49273,936.88
2026-05-29DSE All Share101.45663,935.48
2026-06-01DSE All Share101.78453,948.2
2026-06-02DSE All Share102.10183,960.51
2026-06-03DSE All Share101.9083,952.99
2026-06-04DSE All Share102.153,962.38
2026-06-05DSE All Share101.42053,934.08
2026-06-08DSE All Share101.623,941.82
2026-06-09DSE All Share101.46173,935.68
2026-06-10DSE All Share101.24833,927.4
2026-06-11DSE All Share100.45663,896.69
2026-06-12DSE All Share100.23363,888.04
2026-06-15DSE All Share99.54833,861.46
2026-06-16DSE All Share100.47593,897.44
2026-06-17DSE All Share100.85983,912.33
2026-06-18DSE All Share101.8343,950.12
2026-06-19DSE All Share101.58573,940.49
2026-06-22DSE All Share100.89843,913.83
2026-06-23DSE All Share100.97713,916.88
2026-06-24DSE All Share101.35633,931.59
2026-06-25DSE All Share102.58473,979.24
2026-06-26DSE All Share103.76724,025.11
2026-06-29DSE All Share104.15214,040.04
2026-06-30DSE All Share104.3784,048.8
2026-07-01DSE All Share104.5954,057.22
2026-07-02DSE All Share105.44294,090.11
2026-07-03DSE All Share106.12924,116.73
2026-07-06DSE All Share105.77374,102.94
2026-07-08DSE All Share105.7514,102.06
2026-07-09DSE All Share105.42054,089.24
2026-07-10DSE All Share105.24494,082.43
2026-07-13DSE All Share105.19934,080.66
2026-07-14DSE All Share105.18184,079.98
2026-07-15DSE All Share105.47494,091.35
2026-07-16DSE All Share105.77374,102.94
2026-07-17DSE All Share106.00674,111.98
2026-07-20DSE All Share105.77084,102.83
2026-07-21DSE All Share105.4964,092.17
2026-07-22DSE All Share105.74614,101.87
2026-07-23DSE All Share106.02374,112.64
2026-07-24DSE All Share106.99054,150.14
2026-07-27DSE All Share106.77374,141.73
2026-07-28DSE All Share107.33344,163.44
2026-07-29DSE All Share107.58324,173.13

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.

DSE Tape Check

Market breadth
Negative tilt
9 rose, 12 fell
Advancers against decliners on the verified DSE close.
Turnover concentration
Block-driven
One name carried the tape
NMB Bank was 79% of turnover; index moves overstate how broad the day really was.

Descriptive flags from the verified DSE close; not signals, predictions, or advice. The official close, fully broken down; After the Bell →

Verified close

Indices rose, but two banks carried 92.6% of turnover

Signal

4,173.13 rose 0.23% and 9,172.57 0.32%; turnover was TZS 8.18bn, with NMB and CRDB supplying 92.6%.

Why it matters

The session was decline-led despite positive indices, so funded participation remained narrower than the headline move.

What to watch

Whether value spreads beyond the two banks, and whether VODA retains order depth after its audited annual report.

Source: DSE · Observed 29 Jul 2026
Go deeper →
Mobile

Vodacom's operating growth strengthened while reinvestment absorbed cash

Signal

Service revenue rose 21.8%, EBITDA 38.8% and reported PAT 18.4%; capex rose 85.1% as free cash flow fell 26.8%.

Why it matters

The audited year shows broader operating growth and margin expansion, while the cash-flow decline marks the cost of faster network investment.

What to watch

AGM confirmation of the proposed TZS 53.6bn dividend, plus capex, finance costs and cash conversion in the next results.

Source: Vodacom Tanzania · Edition 30 Jul 2026 · Data as reported · interpretation: Medium confidence
Go deeper →
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A free daily Tanzania market-intelligence note covering DSE moves, rates, FX, policy, macro signals and what to watch next.

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Banking

CRDB filed its second-quarter report, but the retained evidence has no financial table

Signal

CRDB's filing covers the quarter ended 30 June, was signed on 24 July and published on 29 July; no financial figures are extractable.

Why it matters

The filing is a verified reporting event, but publishing numbers before visual table review would turn an evidence gap into false precision.

What to watch

Visual verification of the financial tables against the signed DSE filing before any performance claim enters the Brief.

Source: CRDB Bank · DSE · Edition 30 Jul 2026 · Data as reported · interpretation: Medium confidence
Go deeper →
FX

The first official shilling print after the Fed was effectively flat

Signal

BoT's 30 July mean was TZS 2,647.78 per US dollar, 0.009% weaker than 29 July and 0.39% weaker than 24 July.

Why it matters

The one-day move is too small to establish a post-Fed trend; the six-day comparison shows a mild weakening, not a break.

What to watch

The next official BoT sheet, plus whether later prints extend beyond the current sub-half-percent move.

Source: Bank of Tanzania · Edition 30 Jul 2026 · Data verified · interpretation: Medium confidence
Go deeper →
Capital markets

The front end of the bill curve remains well below the policy rate

Signal

Auction No. 1203 cleared at 3.3472% for 91 days, 4.7799% for 182 days and 7.0258% for 364 days against a 6.25% CBR.

Why it matters

The 91-day yield sits about 290bp below the CBR while the 364-day yield is higher, leaving a steep observed bill curve.

What to watch

The next verified BoT auction result; no official date is posted, so no cadence-derived date is used.

Source: Bank of Tanzania · Edition 30 Jul 2026 · Data verified · interpretation: Medium confidence
Go deeper →
The Ghost

The model book

The Ghost's hypothetical TZS 500m model book is +8.42% since inception at its 29 Jul mark. VODA's audited growth, its cash-conversion decline and the bank-heavy DSE session are terrain for studying concentration, reinvestment and liquidity, 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 →
Week ahead; what to watch
WhenEventWhy it matters
Immediate · date unannouncedCRDB Q2 filing verificationThe retained filing proves the reporting event but not the financial table; visual verification is required before publishing performance figures.
30 Jul 2026 · 14:00 EATBank of England decisionThe vote will show whether energy pass-through or subdued private demand dominates the committee's risk balance.
Date unannouncedNext verified BoT T-bill resultAuction No. 1203 remains latest; the next posted result tests whether the 91-day yield remains about 290bp below the 6.25% CBR.
20 to 24 Aug 2026NMB share-subdivision windowThe pause, register close and restart create the first observable test of order count, spread and traded-value depth.
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 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 (29 Jul 2026); rates and FX to the Bank of Tanzania; inflation to the NBS. The current Wire hand-off was read first: five duplicate Vodacom candidates were consolidated into one audited-results card, CRDB's filing was included with its evidence limitation, and the TRA to IMF candidate was not repeated because it carried no new disclosed scope, funding or measures beyond the 29 July edition. Foreign-flow data was unavailable in the official session snapshot and is omitted. For live market levels see Markets.

Archive; past editions56
Friday's wider advance still depended on three counters for 84.7% of turnoverMonday, 17 August 2026NMB mechanics and a long-bond auction turn last week's gains into tests of market depthSunday, 16 August 2026Both indices rose, but five-session turnover still depended on a few namesSaturday, 15 August 2026Both headline indices accelerated; NMB still carried 66.1% of turnoverFriday, 14 August 2026Both headline indices advanced; NMB still carried 72.5% of turnoverThursday, 13 August 2026Both headline indices fell; two banks still carried 87.6% of turnoverWednesday, 12 August 2026Inflation rose to 4.2%; transport remained the pressure pointTuesday, 11 August 2026An official curve arrives; market depth is the testMonday, 10 August 2026A narrow equity tape meets a dated rates test while credit evidence awaits confirmationSunday, 9 August 2026The indices eased, two banks carried the money, and private credit acceleratedSaturday, 8 August 2026Private credit accelerated to 28.1% as the equity tape split againFriday, 7 August 2026DSEI rose, TSI fell as NMB carried 67.2% of turnoverThursday, 6 August 2026Breadth balanced, but CRDB and NMB still carried 73.0% of turnoverWednesday, 5 August 2026The indices barely moved; CRDB and NMB supplied 94.3% of turnoverTuesday, 4 August 2026TZS 30.46bn traded, but TBL carried nearly four shillings in fiveMonday, 3 August 2026Domestic strength enters a breadth test while the next policy and issuer evidence waits on the calendarSunday, 2 August 2026Domestic shares outran the headline index; but two concentrated sessions supplied most of the moneySaturday, 1 August 2026Indices rose, but two banks carried 84.1% of turnoverFriday, 31 July 2026Every domestic index rose, but two banks carried almost nine shillings in tenWednesday, 29 July 2026Money returned, but four counters carried almost eighty-five per cent of the sessionTuesday, 28 July 2026The test week opens: a credit tailwind lands on the banks that sat still through the recordMonday, 27 July 2026A record made on three prints meets its first dated tests; the month-end auction and an FOMC weekSunday, 26 July 2026A record with an asterisk; the All-Share closes at an all-time high in a week more names fell than roseSaturday, 25 July 2026The 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 2026Tanzania enters 2026/27 with a record budget and a 25-year horizonThursday, 25 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