KCP. USD/TZS 2,645
Tanzania Share Index 9,215.18 ▼ 0.04%USD / TZS 2,645.68 ▼ 0.15%BoT rate 6.25%Inflation 4.0% 31 Jul 2026 verified close
Tanzania Intelligence

The Brief

Vol. I · No. 215
Monday, 3 August 2026
Verified closeDSE · BoT · frozen to the covered session31 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 Friday, 31 July 2026; the most recent verified session. Its figures are frozen to that close; for today’s live moves see Markets.


DSE All-Share
4,190.41▼ 0.11%
DSEI · 31 Jul close · latest verified
Tanzania Share Index
9,215.18
TSI · 31 Jul · domestic
USD / TZS
2,645.68▼ 0.15%
BoT mean · 3 Aug sheet
BoT rate
6.25%
CBR · Q3 2026
91-day T-bill
3.44%
BoT WAR · latest auction
364-day T-bill
6.74%
BoT WAR · latest auction
Inflation
4.0%
NBS · June 2026 headline
Today in 60 seconds
  1. TZS 30.46bn traded, but TBL carried nearly four shillings in five
  2. TBL supplied 78.1% of the session while NMB supplied another 13.3%
  3. Industrials rose while Commercial Services fell 4.24%
WatchDSE breadth and turnover distributionafter the 3 Aug session
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

2026-04-30 = 100 · frozen at the 2026-07-31 covered session

+6.2%TSI · quarter+6.9%DSEI · quarter
Coverage 2026-04-30 → 2026-07-31 Vintage 2026-07-31 · final Revision current · v0
The domestic market against the headline index. Exact values underlying the chart.
DateIndexRebasedRaw level
2026-04-30Tanzania Share Index1008,675.21
2026-05-04Tanzania Share Index98.64838,557.95
2026-05-05Tanzania Share Index97.40818,450.36
2026-05-06Tanzania Share Index96.30228,354.42
2026-05-07Tanzania Share Index95.46118,281.45
2026-05-08Tanzania Share Index96.51498,372.87
2026-05-11Tanzania Share Index98.03878,505.06
2026-05-12Tanzania Share Index98.02838,504.16
2026-05-13Tanzania Share Index97.60798,467.69
2026-05-14Tanzania Share Index97.02818,417.39
2026-05-15Tanzania Share Index96.93148,409
2026-05-18Tanzania Share Index97.37998,447.91
2026-05-19Tanzania Share Index97.52268,460.29
2026-05-20Tanzania Share Index97.25168,436.78
2026-05-21Tanzania Share Index98.27468,525.53
2026-05-22Tanzania Share Index98.69748,562.21
2026-05-25Tanzania Share Index100.41088,710.85
2026-05-26Tanzania Share Index101.03888,765.33
2026-05-28Tanzania Share Index101.27338,785.67
2026-05-29Tanzania Share Index101.14448,774.49
2026-06-01Tanzania Share Index101.58178,812.43
2026-06-02Tanzania Share Index102.24358,869.84
2026-06-03Tanzania Share Index101.79668,831.07
2026-06-04Tanzania Share Index102.14438,861.23
2026-06-05Tanzania Share Index101.60628,814.55
2026-06-08Tanzania Share Index101.64478,817.89
2026-06-09Tanzania Share Index101.19518,778.89
2026-06-10Tanzania Share Index100.59358,726.7
2026-06-11Tanzania Share Index99.60918,641.3
2026-06-12Tanzania Share Index99.06538,594.12
2026-06-15Tanzania Share Index97.9968,501.36
2026-06-16Tanzania Share Index99.05828,593.51
2026-06-17Tanzania Share Index99.34818,618.66
2026-06-18Tanzania Share Index99.8138,658.99
2026-06-19Tanzania Share Index99.69238,648.52
2026-06-22Tanzania Share Index99.39948,623.11
2026-06-23Tanzania Share Index99.27288,612.12
2026-06-24Tanzania Share Index99.5458,635.74
2026-06-25Tanzania Share Index99.78288,656.37
2026-06-26Tanzania Share Index100.37138,707.42
2026-06-29Tanzania Share Index100.68198,734.37
2026-06-30Tanzania Share Index101.17458,777.1
2026-07-01Tanzania Share Index102.11418,858.61
2026-07-02Tanzania Share Index102.72928,911.97
2026-07-03Tanzania Share Index103.71038,997.09
2026-07-06Tanzania Share Index103.53288,981.69
2026-07-08Tanzania Share Index103.27258,959.11
2026-07-09Tanzania Share Index102.96658,932.56
2026-07-10Tanzania Share Index102.80188,918.27
2026-07-13Tanzania Share Index102.73638,912.59
2026-07-14Tanzania Share Index102.51718,893.57
2026-07-15Tanzania Share Index102.97168,933
2026-07-16Tanzania Share Index103.05568,940.29
2026-07-17Tanzania Share Index103.39028,969.32
2026-07-20Tanzania Share Index103.19448,952.33
2026-07-21Tanzania Share Index103.09198,943.44
2026-07-22Tanzania Share Index103.42758,972.55
2026-07-23Tanzania Share Index103.80549,005.34
2026-07-24Tanzania Share Index103.60578,988.01
2026-07-27Tanzania Share Index104.42939,059.46
2026-07-28Tanzania Share Index105.3919,142.89
2026-07-29Tanzania Share Index105.73319,172.57
2026-07-30Tanzania Share Index106.2639,218.54
2026-07-31Tanzania Share Index106.22439,215.18
2026-04-30DSE All Share1003,919.27
2026-05-04DSE All Share98.88273,875.48
2026-05-05DSE All Share97.89433,836.74
2026-05-06DSE All Share97.05973,804.03
2026-05-07DSE All Share96.46623,780.77
2026-05-08DSE All Share97.31813,814.16
2026-05-11DSE All Share98.38873,856.12
2026-05-12DSE All Share98.6483,866.28
2026-05-13DSE All Share98.05913,843.2
2026-05-14DSE All Share97.75243,831.18
2026-05-15DSE All Share97.68863,828.68
2026-05-18DSE All Share98.02113,841.71
2026-05-19DSE All Share98.11953,845.57
2026-05-20DSE All Share97.72763,830.21
2026-05-21DSE All Share98.48473,859.88
2026-05-22DSE All Share98.87173,875.05
2026-05-25DSE All Share100.05563,921.45
2026-05-26DSE All Share100.51163,939.32
2026-05-28DSE All Share100.44933,936.88
2026-05-29DSE All Share100.41363,935.48
2026-06-01DSE All Share100.73813,948.2
2026-06-02DSE All Share101.05223,960.51
2026-06-03DSE All Share100.86043,952.99
2026-06-04DSE All Share101.09993,962.38
2026-06-05DSE All Share100.37793,934.08
2026-06-08DSE All Share100.57543,941.82
2026-06-09DSE All Share100.41873,935.68
2026-06-10DSE All Share100.20743,927.4
2026-06-11DSE All Share99.42393,896.69
2026-06-12DSE All Share99.20323,888.04
2026-06-15DSE All Share98.5253,861.46
2026-06-16DSE All Share99.4433,897.44
2026-06-17DSE All Share99.82293,912.33
2026-06-18DSE All Share100.78713,950.12
2026-06-19DSE All Share100.54143,940.49
2026-06-22DSE All Share99.86123,913.83
2026-06-23DSE All Share99.9393,916.88
2026-06-24DSE All Share100.31433,931.59
2026-06-25DSE All Share101.53013,979.24
2026-06-26DSE All Share102.70054,025.11
2026-06-29DSE All Share103.08144,040.04
2026-06-30DSE All Share103.3054,048.8
2026-07-01DSE All Share103.51984,057.22
2026-07-02DSE All Share104.3594,090.11
2026-07-03DSE All Share105.03824,116.73
2026-07-06DSE All Share104.68634,102.94
2026-07-08DSE All Share104.66394,102.06
2026-07-09DSE All Share104.33684,089.24
2026-07-10DSE All Share104.1634,082.43
2026-07-13DSE All Share104.11794,080.66
2026-07-14DSE All Share104.10054,079.98
2026-07-15DSE All Share104.39064,091.35
2026-07-16DSE All Share104.68634,102.94
2026-07-17DSE All Share104.9174,111.98
2026-07-20DSE All Share104.68354,102.83
2026-07-21DSE All Share104.41154,092.17
2026-07-22DSE All Share104.6594,101.87
2026-07-23DSE All Share104.93384,112.64
2026-07-24DSE All Share105.89064,150.14
2026-07-27DSE All Share105.67614,141.73
2026-07-28DSE All Share106.234,163.44
2026-07-29DSE All Share106.47724,173.13
2026-07-30DSE All Share107.03194,194.87
2026-07-31DSE All Share106.91814,190.41

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
8 rose, 10 fell
Advancers against decliners on the verified DSE close.
Turnover concentration
Block-driven
One name carried the tape
Tanzania Breweries was 78% 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

TZS 30.46bn traded, but TBL carried nearly four shillings in five

Signal

4,190.41 slipped 0.11% and 9,215.18 0.04%; equity turnover reached TZS 30.46bn, with 78.1% in TBL.

Why it matters

The value was 4.53× the held-session median, yet 20 of 28 names traded and decliners led advancers 10 to eight. High turnover did not equal broad liquidity.

What to watch

Whether the next close keeps ordinary two-sided turnover above recent norms while reducing single-counter concentration.

Source: DSE · Observed 31 Jul 2026
Go deeper →
Tape

TBL supplied 78.1% of the session while NMB supplied another 13.3%

Signal

TBL contributed TZS 23.79bn and NMB TZS 4.05bn of the verified TZS 30.46bn equity turnover.

Why it matters

A large printed total can still provide limited two-sided liquidity when two counters supply 91.4% of value. Concentration and depth are separate observations.

What to watch

The 3 August close tests whether value spreads across more counters and whether TBL's share returns toward ordinary levels.

Source: DSE · Edition 3 Aug 2026 · Data verified · interpretation: Medium confidence
Go deeper →
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Sectors

Industrials rose while Commercial Services fell 4.24%

Signal

Industrial & Allied rose 1.04% and Banks 0.20%, while Commercial Services fell 4.24% at the verified close.

Why it matters

The All-Share's 0.11% decline compressed sharply different sector moves. The headline index alone did not describe where the repricing occurred.

What to watch

Whether the next verified close narrows the sector gap or extends the services decline alongside gains elsewhere.

Source: DSE · Edition 3 Aug 2026 · Data verified · interpretation: Medium confidence
Go deeper →
FX

The latest BoT mean strengthened 0.15%, but remained 0.31% above 24 July

Signal

BoT's 3 August USD/TZS mean was 2,645.6774, down 0.15% from 31 July but still 0.31% above 24 July.

Why it matters

A lower USD/TZS mean marks modest shilling strengthening over the latest interval; the longer comparison still shows mild weakening, not a one-way break.

What to watch

The next official BoT exchange-rate sheet tests whether the latest strengthening extends or remains a small reversal within the longer move.

Source: Bank of Tanzania · Edition 3 Aug 2026 · Data verified · interpretation: Medium confidence
Go deeper →
Agriculture

Policy ambition moved twice, but financing instruments remain undisclosed

Signal

An edible-oil plan reports a TZS 957.6bn requirement; a later TADB directive disclosed no new allocation, guarantee or project list.

Why it matters

A stated financing need and lending direction do not equal mobilized capital. Execution becomes measurable when funded instruments and eligible projects appear.

What to watch

A budgeted facility, guarantee, priority-value-chain schedule, private commitment or retained primary strategy document.

Source: Daily News · article text · Edition 3 Aug 2026 · Data as reported · interpretation: Medium confidence
Go deeper →
The Ghost

The model book

The Ghost's hypothetical TZS 500m model book is +8.16% since inception at its 31 Jul mark. Friday's TBL turnover concentration and the split direction of sectors and FX are terrain for studying liquidity, diversification and currency translation; 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
after the 3 Aug sessionDSE breadth and turnover distributionThe 31 July close printed TZS 30.46bn, but TBL and NMB supplied 91.4%; the next verified close tests whether value and participation broaden.
date not announcedNext official BoT exchange-rate sheetThe 3 August mean strengthened 0.15% from 31 July while remaining 0.31% above 24 July; the next sheet tests which interval persists.
date not announcedNext verified BoT Treasury-bill resultAuction No. 1203 remains the latest verified result, with the 91-day yield at 3.3472%, 182-day at 4.7799% and 364-day at 7.0258%.
date not announcedAgriculture financing instrumentsThe edible-oil requirement and TADB direction remain policy signals until a funded facility, guarantee, eligible-project schedule or private commitment is disclosed.
date not announcedConstitutional-process instrumentReported intent and consultations have not yet supplied a published legal instrument, commission membership, draft text or referendum calendar.
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, a forecast or a recommendation. Equity and index figures reconcile to the DSE verified close (31 Jul 2026); rates and FX use Bank of Tanzania publications, and inflation uses NBS. The current Wire hand-off was read first and contained no primary-grade card. The two agriculture reports are retained as government-signal evidence from Daily News article text: TZS 957.6bn is a reported financing requirement, not committed or mobilized capital, and the TADB directive disclosed no new allocation, guarantee or eligible-project list. No foreign-flow split is inferred from the official session snapshot. Undated checkpoints remain explicitly undated. For live 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 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 2026Indices rose, but two banks carried 92.6% of turnoverThursday, 30 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