KCP. USD/TZS 2,645
Tanzania Share Index 9,200.17 ▼ 0.16%USD / TZS 2,646.31 ▲ 0.02%BoT rate 6.25%Inflation 4.0% 3 Aug 2026 verified close
Tanzania Intelligence

The Brief

Vol. I · No. 216
Tuesday, 4 August 2026
Verified closeDSE · BoT · frozen to the covered session3 Aug 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 Monday, 3 August 2026; the most recent verified session. Its figures are frozen to that close; for today’s live moves see Markets.

DSE All-Share
4,187.22▼ 0.08%
DSEI · 3 Aug close · latest verified
Tanzania Share Index
9,200.17
TSI · 3 Aug · domestic
USD / TZS
2,646.31▲ 0.02%
BoT mean · 4 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. The indices barely moved; CRDB and NMB supplied 94.3% of turnover
  2. CRDB and NMB supplied TZS 6.695bn of the TZS 7.096bn session
  3. NMB's balance sheet grew roughly twice as fast as H1 profit
WatchDSE breadth and turnover distributionafter the 4 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

2026-05-04 = 100 · frozen at the 2026-08-03 covered session

+7.5%TSI · quarter+8.0%DSEI · quarter
Coverage 2026-05-04 → 2026-08-03 Vintage 2026-08-03 · final Revision current · v0
The domestic market against the headline index. Exact values underlying the chart.
DateIndexRebasedRaw level
2026-05-04Tanzania Share Index1008,557.95
2026-05-05Tanzania Share Index98.74288,450.36
2026-05-06Tanzania Share Index97.62178,354.42
2026-05-07Tanzania Share Index96.76918,281.45
2026-05-08Tanzania Share Index97.83738,372.87
2026-05-11Tanzania Share Index99.3828,505.06
2026-05-12Tanzania Share Index99.37158,504.16
2026-05-13Tanzania Share Index98.94538,467.69
2026-05-14Tanzania Share Index98.35768,417.39
2026-05-15Tanzania Share Index98.25958,409
2026-05-18Tanzania Share Index98.71428,447.91
2026-05-19Tanzania Share Index98.85888,460.29
2026-05-20Tanzania Share Index98.58418,436.78
2026-05-21Tanzania Share Index99.62128,525.53
2026-05-22Tanzania Share Index100.04988,562.21
2026-05-25Tanzania Share Index101.78668,710.85
2026-05-26Tanzania Share Index102.42328,765.33
2026-05-28Tanzania Share Index102.66098,785.67
2026-05-29Tanzania Share Index102.53038,774.49
2026-06-01Tanzania Share Index102.97368,812.43
2026-06-02Tanzania Share Index103.64448,869.84
2026-06-03Tanzania Share Index103.19148,831.07
2026-06-04Tanzania Share Index103.54388,861.23
2026-06-05Tanzania Share Index102.99848,814.55
2026-06-08Tanzania Share Index103.03748,817.89
2026-06-09Tanzania Share Index102.58178,778.89
2026-06-10Tanzania Share Index101.97198,726.7
2026-06-11Tanzania Share Index100.97398,641.3
2026-06-12Tanzania Share Index100.42268,594.12
2026-06-15Tanzania Share Index99.33878,501.36
2026-06-16Tanzania Share Index100.41558,593.51
2026-06-17Tanzania Share Index100.70948,618.66
2026-06-18Tanzania Share Index101.18078,658.99
2026-06-19Tanzania Share Index101.05838,648.52
2026-06-22Tanzania Share Index100.76148,623.11
2026-06-23Tanzania Share Index100.6338,612.12
2026-06-24Tanzania Share Index100.9098,635.74
2026-06-25Tanzania Share Index101.158,656.37
2026-06-26Tanzania Share Index101.74668,707.42
2026-06-29Tanzania Share Index102.06158,734.37
2026-06-30Tanzania Share Index102.56088,777.1
2026-07-01Tanzania Share Index103.51328,858.61
2026-07-02Tanzania Share Index104.13678,911.97
2026-07-03Tanzania Share Index105.13148,997.09
2026-07-06Tanzania Share Index104.95148,981.69
2026-07-08Tanzania Share Index104.68768,959.11
2026-07-09Tanzania Share Index104.37738,932.56
2026-07-10Tanzania Share Index104.21048,918.27
2026-07-13Tanzania Share Index104.1448,912.59
2026-07-14Tanzania Share Index103.92178,893.57
2026-07-15Tanzania Share Index104.38258,933
2026-07-16Tanzania Share Index104.46778,940.29
2026-07-17Tanzania Share Index104.80698,969.32
2026-07-20Tanzania Share Index104.60838,952.33
2026-07-21Tanzania Share Index104.50458,943.44
2026-07-22Tanzania Share Index104.84468,972.55
2026-07-23Tanzania Share Index105.22789,005.34
2026-07-24Tanzania Share Index105.02538,988.01
2026-07-27Tanzania Share Index105.86029,059.46
2026-07-28Tanzania Share Index106.8359,142.89
2026-07-29Tanzania Share Index107.18199,172.57
2026-07-30Tanzania Share Index107.7199,218.54
2026-07-31Tanzania Share Index107.67989,215.18
2026-08-03Tanzania Share Index107.50449,200.17
2026-05-04DSE All Share1003,875.48
2026-05-05DSE All Share99.00043,836.74
2026-05-06DSE All Share98.15643,804.03
2026-05-07DSE All Share97.55623,780.77
2026-05-08DSE All Share98.41773,814.16
2026-05-11DSE All Share99.50043,856.12
2026-05-12DSE All Share99.76263,866.28
2026-05-13DSE All Share99.16713,843.2
2026-05-14DSE All Share98.85693,831.18
2026-05-15DSE All Share98.79243,828.68
2026-05-18DSE All Share99.12863,841.71
2026-05-19DSE All Share99.22823,845.57
2026-05-20DSE All Share98.83193,830.21
2026-05-21DSE All Share99.59753,859.88
2026-05-22DSE All Share99.98893,875.05
2026-05-25DSE All Share101.18623,921.45
2026-05-26DSE All Share101.64733,939.32
2026-05-28DSE All Share101.58433,936.88
2026-05-29DSE All Share101.54823,935.48
2026-06-01DSE All Share101.87643,948.2
2026-06-02DSE All Share102.19413,960.51
2026-06-03DSE All Share1023,952.99
2026-06-04DSE All Share102.24233,962.38
2026-06-05DSE All Share101.51213,934.08
2026-06-08DSE All Share101.71183,941.82
2026-06-09DSE All Share101.55343,935.68
2026-06-10DSE All Share101.33973,927.4
2026-06-11DSE All Share100.54733,896.69
2026-06-12DSE All Share100.32413,888.04
2026-06-15DSE All Share99.63823,861.46
2026-06-16DSE All Share100.56663,897.44
2026-06-17DSE All Share100.95083,912.33
2026-06-18DSE All Share101.9263,950.12
2026-06-19DSE All Share101.67753,940.49
2026-06-22DSE All Share100.98963,913.83
2026-06-23DSE All Share101.06833,916.88
2026-06-24DSE All Share101.44783,931.59
2026-06-25DSE All Share102.67733,979.24
2026-06-26DSE All Share103.86094,025.11
2026-06-29DSE All Share104.24624,040.04
2026-06-30DSE All Share104.47224,048.8
2026-07-01DSE All Share104.68954,057.22
2026-07-02DSE All Share105.53824,090.11
2026-07-03DSE All Share106.2254,116.73
2026-07-06DSE All Share105.86924,102.94
2026-07-08DSE All Share105.84654,102.06
2026-07-09DSE All Share105.51574,089.24
2026-07-10DSE All Share105.344,082.43
2026-07-13DSE All Share105.29434,080.66
2026-07-14DSE All Share105.27684,079.98
2026-07-15DSE All Share105.57014,091.35
2026-07-16DSE All Share105.86924,102.94
2026-07-17DSE All Share106.10254,111.98
2026-07-20DSE All Share105.86644,102.83
2026-07-21DSE All Share105.59134,092.17
2026-07-22DSE All Share105.84164,101.87
2026-07-23DSE All Share106.11954,112.64
2026-07-24DSE All Share107.08714,150.14
2026-07-27DSE All Share106.87014,141.73
2026-07-28DSE All Share107.43034,163.44
2026-07-29DSE All Share107.68034,173.13
2026-07-30DSE All Share108.24134,194.87
2026-07-31DSE All Share108.12624,190.41
2026-08-03DSE All Share108.04394,187.22

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
Broad decline
5 rose, 11 fell
Advancers against decliners on the verified DSE close.
Turnover concentration
Concentrated
One name carried the tape
CRDB Bank was 49% 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

The indices barely moved; CRDB and NMB supplied 94.3% of turnover

Signal

4,187.22 slipped 0.08% and 9,200.17 0.16%; TZS 7.096bn traded, with 94.3% in CRDB and NMB.

Why it matters

Twenty of 28 names traded, but decliners led advancers 11 to five. A near-flat index masked narrow liquidity and weak breadth.

What to watch

Whether the next verified close broadens both participation and turnover beyond the two leading banks.

Source: DSE · Observed 3 Aug 2026
Go deeper →
Tape

CRDB and NMB supplied TZS 6.695bn of the TZS 7.096bn session

Signal

CRDB supplied 49.6% and NMB 44.7% of verified equity turnover; all other counters supplied 5.7%.

Why it matters

Twenty names traded, yet two banks supplied 94.3% of value. Participation count and distributable liquidity were different signals.

What to watch

The 4 August close tests whether value spreads beyond CRDB and NMB while breadth improves from five advancers.

Source: DSE · Edition 4 Aug 2026 · Data verified · interpretation: Medium confidence
Go deeper →
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.
Banking

NMB's balance sheet grew roughly twice as fast as H1 profit

Signal

H1 group profit rose 13% to TZS 405.8bn; assets, deposits and loans grew 26%, 29% and 26% year on year.

Why it matters

Balance-sheet expansion outpaced profit growth, while the disclosed NPL ratio held at 2.5%.

What to watch

The next official filing tests whether loan growth, profitability and asset quality keep the same relationship.

Source: NMB Bank H1 2026 unaudited disclosure · DSE · Edition 4 Aug 2026 · Data as reported · interpretation: Medium confidence
Go deeper →
Earnings

Afriprise's TZS 1.808bn fair-value gain sits in OCI, outside quarterly profit

Signal

Quarterly profit was TZS 3.385bn; TZS 1.808bn of OCI lifted total comprehensive profit to TZS 5.193bn.

Why it matters

Separating profit from other comprehensive income prevents the fair-value gain from being read as operating performance.

What to watch

The next filing tests which portion of comprehensive income recurs and whether the fair-value movement reverses.

Source: Afriprise Q2 2026 unaudited disclosure · DSE · Edition 4 Aug 2026 · Data as reported · interpretation: Medium confidence
Go deeper →
Rates

Interbank pricing is close to the CBR; the 91-day bill remains 290bp below

Signal

BoT's 7-day interbank rate was 6.07% on 3 August versus the 6.25% CBR; the latest 91-day bill was 3.3472%.

Why it matters

The interbank gap was 18bp, while the bill gap was about 290bp, separating near-term transmission from short-bill pricing.

What to watch

The next verified bill auction remains undated; its yields test whether the gap narrows or persists.

Source: Bank of Tanzania · Edition 4 Aug 2026 · Data verified · interpretation: Medium confidence
Go deeper →
The Ghost

The model book

The Ghost's hypothetical TZS 500m model book is +8.06% since inception at its 3 Aug mark. Narrow bank-led turnover, issuer filings and rate gaps are terrain for studying concentration, earnings quality and funding conditions; not trades.

Ghost relevance: The tape gave the model book its strongest week since inception; and the book reads that as a concentration question, not a confirmation. Fourteen of nineteen priced counters fell between the 24 July and 3 August closes while the indices rose, and roughly 85% of the week's model gain came from one name. NMB and Vodacom together are now about a third of the hypothetical book, which is inside every mandate band and still worth naming out loud. Educational only; a model book, never advice.

Open the Ghost tracker → The terrain it reads →
Week ahead; what to watch
WhenEventWhy it matters
after the 4 Aug sessionDSE breadth and turnover distributionThe 3 August close had five advancers and 94.3% of equity turnover in CRDB and NMB; the next verified close tests whether breadth and value distribution improve.
date not announcedNext official NMB financial filingH1 balance-sheet growth outpaced profit growth while the disclosed NPL ratio held at 2.5%; the next filing tests the relationship.
date not announcedNext official Afriprise financial filingQ2 profit and the fair-value gain were reported in separate income components; the next filing tests recurrence and direction.
date not announcedNext verified BoT Treasury-bill resultAuction No. 1203 remains the latest verified result, with the 91-day yield about 290bp below the 6.25% CBR.
date not announcedEdible-oil programme implementation instrumentThe reported TZS 500.6bn allocation remains distinct from cash deployment until a budget vote, disbursement profile or audited execution appears.
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, index, breadth and turnover figures reconcile to the DSE verified close (3 Aug 2026); rates and FX use Bank of Tanzania publications, and inflation uses NBS. The current Wire hand-off was read first and contained four primary-grade cards. The NMB and Afriprise filings were retained after primary-source review. The CRDB card was omitted because its retained extraction exposed no usable financial table; the older TCCL filing was not repeated. Afriprise profit is kept separate from the TZS 1.808bn fair-value gain recorded in other comprehensive income. The reported edible-oil allocation is not treated as deployed cash. 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 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 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