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.
Weekly overview; the week in review, frozen at Saturday’s publication and covering the 14 Aug 2026 verified close (the week’s last verified session). Its figures are frozen to that close; for today’s live moves see Markets.
The read: the Friday close, with the move across the whole week beside it; not the one-session change the daily Brief shows. The implication: the index level alone never says whether the week was broad or carried by a couple of names; breadth and turnover do.
What the index hid: highly concentrated; the single heaviest name took 76% of one session’s turnover. A week can look active and still be carried by one counter. Each close, fully broken down; After the Bell →
How to read this: short government paper is the opportunity cost of taking equity risk. Why it matters: the higher the front end sits, the more dividends, earnings growth and liquidity equities must deliver to clear it. Educational; not advice.
How to read this: each link carries its own authority and its own lag; FX moves daily, fuel caps monthly, food weekly, CPI monthly. Why it matters: this is the chain that turns a currency move into a cost-of-living move. Descriptive, not predictive; the links are shown, not forecast.
The week card; built to be screenshotted and shared. Every figure is computed from the verified record.
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 2026-08-14 covered session
Only declared transformations and compatible comparisons are enabled. The exact state is retained in the URL.
Reuse package · edition 2026-08-14-128649dc6740
| Date | Relationship | Cumulative gap (pp) |
|---|---|---|
| 2026-05-18 | Cumulative TSI minus DSEI | 0 |
| 2026-05-19 | Cumulative TSI minus DSEI | 0.05 |
| 2026-05-20 | Cumulative TSI minus DSEI | 0.17 |
| 2026-05-21 | Cumulative TSI minus DSEI | 0.44 |
| 2026-05-22 | Cumulative TSI minus DSEI | 0.48 |
| 2026-05-25 | Cumulative TSI minus DSEI | 1.02 |
| 2026-05-26 | Cumulative TSI minus DSEI | 1.19 |
| 2026-05-28 | Cumulative TSI minus DSEI | 1.48 |
| 2026-05-29 | Cumulative TSI minus DSEI | 1.39 |
| 2026-06-01 | Cumulative TSI minus DSEI | 1.5 |
| 2026-06-02 | Cumulative TSI minus DSEI | 1.84 |
| 2026-06-03 | Cumulative TSI minus DSEI | 1.59 |
| 2026-06-04 | Cumulative TSI minus DSEI | 1.7 |
| 2026-06-05 | Cumulative TSI minus DSEI | 1.89 |
| 2026-06-08 | Cumulative TSI minus DSEI | 1.73 |
| 2026-06-09 | Cumulative TSI minus DSEI | 1.44 |
| 2026-06-10 | Cumulative TSI minus DSEI | 1.06 |
| 2026-06-11 | Cumulative TSI minus DSEI | 0.86 |
| 2026-06-12 | Cumulative TSI minus DSEI | 0.54 |
| 2026-06-15 | Cumulative TSI minus DSEI | 0.14 |
| 2026-06-16 | Cumulative TSI minus DSEI | 0.29 |
| 2026-06-17 | Cumulative TSI minus DSEI | 0.2 |
| 2026-06-18 | Cumulative TSI minus DSEI | -0.3 |
| 2026-06-19 | Cumulative TSI minus DSEI | -0.17 |
| 2026-06-22 | Cumulative TSI minus DSEI | 0.21 |
| 2026-06-23 | Cumulative TSI minus DSEI | 0.01 |
| 2026-06-24 | Cumulative TSI minus DSEI | -0.1 |
| 2026-06-25 | Cumulative TSI minus DSEI | -1.07 |
| 2026-06-26 | Cumulative TSI minus DSEI | -1.63 |
| 2026-06-29 | Cumulative TSI minus DSEI | -1.69 |
| 2026-06-30 | Cumulative TSI minus DSEI | -1.42 |
| 2026-07-01 | Cumulative TSI minus DSEI | -0.7 |
| 2026-07-02 | Cumulative TSI minus DSEI | -0.91 |
| 2026-07-03 | Cumulative TSI minus DSEI | -0.6 |
| 2026-07-06 | Cumulative TSI minus DSEI | -0.44 |
| 2026-07-08 | Cumulative TSI minus DSEI | -0.67 |
| 2026-07-09 | Cumulative TSI minus DSEI | -0.65 |
| 2026-07-10 | Cumulative TSI minus DSEI | -0.65 |
| 2026-07-13 | Cumulative TSI minus DSEI | -0.67 |
| 2026-07-14 | Cumulative TSI minus DSEI | -0.87 |
| 2026-07-15 | Cumulative TSI minus DSEI | -0.7 |
| 2026-07-16 | Cumulative TSI minus DSEI | -0.9 |
| 2026-07-17 | Cumulative TSI minus DSEI | -0.8 |
| 2026-07-20 | Cumulative TSI minus DSEI | -0.76 |
| 2026-07-21 | Cumulative TSI minus DSEI | -0.6 |
| 2026-07-22 | Cumulative TSI minus DSEI | -0.52 |
| 2026-07-23 | Cumulative TSI minus DSEI | -0.41 |
| 2026-07-24 | Cumulative TSI minus DSEI | -1.52 |
| 2026-07-27 | Cumulative TSI minus DSEI | -0.52 |
| 2026-07-28 | Cumulative TSI minus DSEI | -0.12 |
| 2026-07-29 | Cumulative TSI minus DSEI | -0.03 |
| 2026-07-30 | Cumulative TSI minus DSEI | -0.05 |
| 2026-07-31 | Cumulative TSI minus DSEI | 0.02 |
| 2026-08-03 | Cumulative TSI minus DSEI | -0.07 |
| 2026-08-04 | Cumulative TSI minus DSEI | -0.19 |
| 2026-08-05 | Cumulative TSI minus DSEI | -0.4 |
| 2026-08-06 | Cumulative TSI minus DSEI | N/A |
| 2026-08-07 | Cumulative TSI minus DSEI | -0.74 |
| 2026-08-10 | Cumulative TSI minus DSEI | -0.37 |
| 2026-08-11 | Cumulative TSI minus DSEI | -0.13 |
| 2026-08-12 | Cumulative TSI minus DSEI | -0.34 |
| 2026-08-13 | Cumulative TSI minus DSEI | -0.41 |
| 2026-08-14 | Cumulative TSI minus DSEI | -0.16 |
2026-08-14-128649dc6740 · 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.
4,232.85 rose 1.18% Friday-to-Friday and 9,331.91 1.77%; five verified sessions carried TZS 30.05bn of equity turnover.
Thirteen of 28 comparable counters rose, while the top name absorbed 49% to 76% of turnover in every session.
Whether next week's value broadens as NMB's subdivision timetable interrupts the normal tape.
4,232.85 rose 1.18% Friday-to-Friday and 9,331.91 1.77%; Banks gained 2.19%, Industrials 1.33% and Services 0.05%.
The domestic index outpaced the All-Share, while every published sector index ended higher.
What carries forward: whether the next verified week preserves shared direction with wider value distribution.
A sourced review of the full Tanzania market week: the DSE tape and who actually carried it, rates, FX, policy, macro, companies; and what to watch next. Prefer the weekend digest to a daily note? Choose weekly only.
Session turnover was TZS 9.75bn Monday, 3.96bn Tuesday, 4.83bn Wednesday, 4.26bn Thursday and 7.25bn Friday, totaling TZS 30.05bn.
CRDB led Monday; NMB led the other four sessions. No session's money map was broadly distributed.
What carries forward: whether ordinary value spreads as NMB's scheduled trading interruption approaches.
Friday-to-Friday, 13 of 28 comparable counters rose, seven fell and eight were unchanged; PAL led gains and MCB declines.
A positive index week still contained wide company dispersion and several unchanged price marks.
What carries forward: whether the extremes persist with meaningful turnover or breadth consolidates near the middle.
Headline inflation was 4.2% in July and core inflation 3.9%; transport was 13.8%, energy and utilities 6.9%, services 5.7% and food 4.1%.
The headline remained within the official medium-term range, but the component spread kept household and business cost pressure uneven.
What carries forward: the 8 September CPI release will test whether transport pressure persists or broadens.
Auction No. 1204 cleared at 2.1276% for 35 days, 3.4390% for 91 days, 5.1803% for 182 days and 6.7441% for 364 days.
The 91-day yield was about 9bp above Auction No. 1203, while the 364-day yield was about 28bp lower; the curve remained upward sloping.
What carries forward: the 19 August bond auction and 26 August bill auction provide the next official primary-market tests.
TBL reported Q2 revenue of TZS 454.87bn, up 13% year-on-year, and operating profit of TZS 108.06bn, up 20%; EPS rose 6%.
Gross profit grew 26% and operating margin widened to 23.8% from 22.3%, while operating cash flow of TZS 153.65bn sat just below TZS 156.09bn of dividends paid.
What carries forward: the full-year audited result is the next not-yet-dated test of revenue conversion, margin and cash generation.
The BoT USD/TZS mean moved from 2,644.79 on 7 August to 2,645.24 on 14 August, a 0.02% rise; Mining Commission world gold moved from USD 4,283 to USD 4,397 per ounce, up 2.66%.
The same-date comparison separates a nearly unchanged official exchange-rate mean from a larger move in the official local gold reference series.
What carries forward: whether the next same-source observations preserve the gap without mixing providers or vintages.
The Ghost's hypothetical TZS 500m model ledger ended at +9.21% since inception at its 14 Aug mark. NMB, Vodacom and the income sleeve led the positive contribution bridge while Twiga Cement remained negative; this is an educational allocation record, not a trading signal.
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 →How these were chosen: not hand-picked; the name that carried the tape, the week’s biggest gain and steepest fall, then the heaviest remaining names. Educational context only; not a recommendation, and never a price target.
The Ghost does not move because a week moved; it updates the model-book risk map. Where the book stands → · The terrain it reads →
| When | Event | Why it matters |
|---|---|---|
| week of 17 Aug 2026 | DSE breadth and turnover distribution | Thirteen of 28 comparable counters rose, but the leading name still absorbed 49% to 76% of every session's turnover; the next closes test whether value broadens. |
| 19 to 24 Aug 2026 | NMB one-for-ten share subdivision | 19 August is the last cum-split date, trading is scheduled to pause on 20 to 21 August and subdivided shares are due to resume on 24 August; price continuity must be interpreted on the adjusted basis. |
| 19 Aug 2026 | BoT 15-year Treasury-bond auction | The auction is the next official long-end price-discovery event after the week's upward-sloping bill curve. |
| 26 Aug 2026 | Next BoT Treasury-bill auction | Auction No. 1204 put the curve from 2.1276% at 35 days to 6.7441% at 364 days; the next result tests the short end on the same official basis. |
| 8 Sep 2026 | Next NBS CPI release | July headline inflation held at 4.2%, but transport inflation was 13.8%; the next release tests persistence and component breadth. |
A sourced review of the full Tanzania market week: the DSE tape and who actually carried it, rates, FX, policy, macro, companies; and what to watch next. Prefer the weekend digest to a daily note? Choose weekly only.
Weekly edition under Convention W. DSE market levels and company closes are frozen to the verified 14 August 2026 session. The TZS 30.05bn figure is the exact sum of the five verified session turnovers from 10 to 14 August; TZS 7.25bn is Friday's session-only turnover and is not described as a weekly aggregate. DSE is the authority for listed-market figures; NBS for CPI; Bank of Tanzania for FX, the CBR and government securities; Mining Commission for the cited gold series; and Tanzania Breweries Plc's DSE-filed statement for company results. The Wire hand-off was read first; it contained no primary-grade candidate, so no unverified Wire claim was promoted. No foreign-flow split is inferred. Information and education only; not investment advice, a recommendation, a trade instruction or a price target.