Verified closeDSE · BoT · frozen to the covered session14 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.
Week ahead; frozen at Sunday’s publication, framing the week to come off the 14 Aug 2026 verified close (the last verified session). Its figures are frozen to that close; for today’s live moves see Markets.
Weekly market scoreboard
2026-08-14 close · change ON THE WEEK · DSE · BoT · NBS
DSE All-Share
4,232.85
▲ +1.18%
DSEI · 14 Aug close · latest verified
Tanzania Share Index
9,331.91
▲ +1.77%
TSI · 14 Aug close · domestic board
USD / TZS
2,645.24
▲ +0.02%
BoT mean · hard-currency lens
BoT rate
6.25%
policy
CBR · policy anchor
91-day T-bill
3.44%
▲ +9bp
BoT WAR · vs prior auction
364-day T-bill
6.74%
▼ -29bp
BoT WAR · vs prior auction
Inflation
4.2%
latest print
NBS · monthly
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.
DSE weekly tape check
DSE · 5 verified sessions to 2026-08-14
Sessions
5
verified DSE closes
Weekly turnover
TZS 30.0bn
sum of the week's value traded
Breadth
13 up / 7 down
8 unchanged · counters that moved across the week
Best session
+1.22%
2026-08-13
Worst session
-0.65%
2026-08-11
Peak concentration
76%
CRDB carried 2026-08-10
Concentration by session; the top name’s share of each session’s turnover
2026-08-10 · CRDB
76%
2026-08-11 · NMB
51%
2026-08-12 · NMB
73%
2026-08-13 · NMB
66%
2026-08-14 · NMB
49%
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 →
Who carried the tape?
DSE · share of turnover, 2026-08-14 session
NMB
49.4%
TPCC
20.8%
CRDB
14.5%
TCCL
8.9%
VODA
1.7%
NICO
1.4%
MCB
1.1%
KCB
0.6%
Other · 12 counters
1.6%
The read: NMB alone was 49% of the session’s value traded. The implication: when one counter carries the tape, the index move says far more about that name than about the market.
The market under the index
DSE · weekly move per counter to 2026-08-14
The read: 13 up, 7 down, 8 unchanged across the week, ordered by how much of the tape each name actually carried. 8 of them carried a price mark into the Friday close without trading; the hatch: a published mark, not liquidity. The implication: a broad week and a bank-led week can print the same index number.
Open the full DSE breadth board →
NMB+0.7%financials
TPCC+3.4%industrials
CRDB+4.2%financials
TCCL+6.5%industrials
VODA+0.0%telecom
NICO+7.6%financials
MCB-13.8%financials
KCB+3.2%financials
AFRIPRISE-2.3%financials
DCB+10.7%financials
TBL-0.7%industrials
TCC+1.6%industrials
MBP+5.0%financials
MKCB+2.5%financials
TOL-0.7%industrials
DSE-0.2%financials
SWIS-4.5%aviation
PAL+11.3%aviation
MUCOBA+3.4%financials
TTP+0.0%industrials
EABL-4.1%industrials
JATU+0.0%other
JHL+0.0%financials
KA+0.0%aviation
NMG+3.8%other
SWALA+0.0%energy
USL+0.0%other
YETU+0.0%financials
The hurdle rate
Bank of Tanzania · WARs as at 2026-08-12
CBR · policy anchor
6.25%
91-day WAR · the front end
3.44%
182-day WAR
5.18%
364-day WAR · income anchor
6.74%
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.
The transmission chain
How a weaker shilling reaches the shopping basket
The shilling
USD/TZS 2,645
▲ +0.02%
2026-08-17 · Bank of Tanzania
→
Fuel cap
Diesel TZS 3,978/l
▼ -4.88%
2026-08 · EWURA · monthly cap
→
Food
Maize TZS 77,750/t
flat
2026-07-31 · Wholesale · MIT
→
Cost of living
CPI 4.2%
latest print
July 2026 headline · NBS · monthly
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.
KANZA CAPITAL PARTNERSThe Weekly Brief
The DSE week to 14 Aug
DSEI +1.18% · TSI +1.77% · Top turnover NMB · 49% of the 14 Aug session · USD/TZS +0.02% on the week
Read: Headline and domestic agreed.
Weekly moves computed from verified closes · 2026-08-14kanzacapitalpartners.com · education, not advice
The week card; built to be screenshotted and shared. Every figure is computed from the verified record.
The week in 90 seconds
NMB mechanics and a long-bond auction turn last week's gains into tests of market depth
Shared index gains need broader participation to become a stronger weekly signal
The next tape must show whether TZS 30.05bn can distribute beyond one leading name
WatchDSE breadth and turnover distributionweek of 17 Aug 2026
Citation and sharing permitted; observation download remains source-restricted.
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.
The week ahead
NMB mechanics and a long-bond auction turn last week's gains into tests of market depth
Signal
4,232.85 enters Monday after a 1.18% Friday-to-Friday rise and 9,331.91 a 1.77% gain; five verified sessions carried TZS 30.05bn of equity turnover.
Why it matters
Thirteen of 28 comparable counters rose, but one name absorbed 49% to 76% of turnover in every session. On 19 August, NMB reaches its last cum-split day as the Bank of Tanzania holds a 15-year bond auction.
What to watch
Whether value broadens before NMB's 20 to 21 August suspension, and what the official 19 August auction result shows about long-end price discovery.
Source: DSE · Bank of Tanzania · NMB Bank Plc · Edition 16 Aug 2026
Shared index gains need broader participation to become a stronger weekly signal
Signal
4,232.85 rose 1.18% Friday-to-Friday and 9,331.91 1.77%; Banks gained 2.19%, Industrials 1.33% and Commercial Services 0.05%.
Why it matters
The domestic index outpaced the All-Share and every published sector index ended higher, but the evidence still describes one completed week rather than a forecast for the next.
What to watch
Confirmation: DSEI and TSI keep the same direction while more than 13 comparable counters advance. Weakening evidence: the indices diverge or participation narrows.
Source: DSE · Edition 16 Aug 2026 · Data verified · interpretation: Medium confidence
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.
Choose Daily, Weekly, or both; they are separate subscriptions. Information and education only. No advice. No noise. Unsubscribe anytime.
Liquidity test
The next tape must show whether TZS 30.05bn can distribute beyond one leading name
Signal
Session turnover was TZS 9.75bn Monday, 3.96bn Tuesday, 4.83bn Wednesday, 4.26bn Thursday and 7.25bn Friday, totaling TZS 30.05bn.
Why it matters
CRDB led Monday and NMB led the other four sessions; the top name absorbed 49% to 76% of each session's value.
What to watch
Confirmation: meaningful turnover spreads across more counters. Weakening evidence: one name again takes most value, especially around NMB's scheduled interruption.
Source: DSE · Edition 16 Aug 2026 · Data verified · interpretation: Medium confidence
Wide counter moves need turnover confirmation, not extrapolation
Signal
Friday-to-Friday, 13 of 28 comparable counters rose, seven fell and eight were unchanged; PAL led gains at 11.29% and MCB declines at 13.83%.
Why it matters
A positive index week still contained wide company dispersion and several unchanged marks, so price direction and participation remain separate reads.
What to watch
Confirmation: the leading and lagging moves persist with observable turnover. Weakening evidence: extremes fade on thin or absent trading while breadth clusters near unchanged.
Source: DSE · Edition 16 Aug 2026 · Data verified · interpretation: Medium confidence
NMB's subdivision sequence is a market-mechanics test, not a value signal
Signal
The issuer notice sets 19 August as the last cum-split day, 20 to 21 August for trading suspension, and 24 August for the one-for-ten subdivision to become effective and trading to resume.
Why it matters
The subdivision changes the share count and unit price, not aggregate economic value; comparison across the event requires an adjusted basis.
What to watch
Confirmation: the announced sequence completes and liquidity resumes on the adjusted basis. Weakening evidence: timing changes or post-resumption activity remains concentrated.
Source: NMB Bank Plc issuer notice · Edition 16 Aug 2026 · Data as reported · interpretation: Medium confidence
Wednesday's 15-year bond auction is the week's clean long-end test
Signal
The latest bill auction cleared at 2.1276% for 35 days, 3.4390% for 91 days, 5.1803% for 182 days and 6.7441% for 364 days; the official calendar places a 15-year bond reopening on 19 August.
Why it matters
The completed bill curve establishes the short-end context, while the bond auction supplies separate primary-market evidence at the long end.
What to watch
Confirmation or weakening comes only from the official auction terms and result. If publication is delayed, the checkpoint remains pending rather than inferred.
Source: Bank of Tanzania · Edition 16 Aug 2026 · Data verified · interpretation: Medium confidence
Next same-source prints test a near-flat shilling and a larger gold move
Signal
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%.
Why it matters
The same-date comparison separates an almost unchanged official exchange-rate mean from a larger move in the official local gold reference series.
What to watch
Confirmation: the next observations preserve the gap on their own source clocks. Weakening evidence: the gap closes; either way, providers and vintages remain separate.
Source: Bank of Tanzania and Mining Commission · Edition 16 Aug 2026 · Data verified · interpretation: Medium confidence
The Ghost's hypothetical TZS 500m model ledger enters the week at +9.21% since inception at its 14 Aug mark. The observable tests are market breadth, value distribution, the 19 August rates print and NMB's dated mechanics; not trading signals.
Ghost relevance: how today’s rates, FX, gold and inflation read against a hypothetical model-book; educational, not advice.
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.
Thirteen of 28 comparable counters rose, but the leading name 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; comparisons require the adjusted basis.
19 Aug 2026
BoT 15-year Treasury-bond auction
The official calendar provides the week's dated long-end price-discovery checkpoint; only the published terms and result complete the test.
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.
next same-source dated prints
Official FX and gold observations
USD/TZS was almost unchanged Friday-to-Friday while the local world-gold reference rose 2.66%; each series requires its own next observation.
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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.
Choose Daily, Weekly, or both; they are separate subscriptions. Information and education only. No advice. No noise. Unsubscribe anytime.
Week-ahead edition under Convention W; a forward framing of Monday 17 through Friday 21 August 2026, frozen to the verified Friday close (14 August 2026). Equity, index, breadth and turnover figures reconcile to DSE authority files; TZS 30.05bn is the exact sum of five verified sessions from 10 to 14 August. Bank of Tanzania is the authority for FX, the CBR and government-securities dates and results; Mining Commission is the authority for the cited gold series; NMB dates use the reviewed issuer notice. The 24 August NMB resumption falls after the framed week and is shown only to complete the issuer's verified sequence. 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, no event outcome is predicted and undated checkpoints remain explicitly undated. Information and education only; not investment advice, a recommendation, a trade instruction or a price target. For live levels, see Markets.