Tanzania Share Index 9,699.66 ▼ 0.6%USD / TZS 2,638.96BoT rate 6.25%Inflation 4.2% 2 Sep 2026 verified close
Tanzania Intelligence

The Brief

Vol. I · No. 244
Thursday, 3 September 2026
Verified closeDSE · BoT · frozen to the covered session2 Sep 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, 2 September 2026; the most recent verified session. Its figures are frozen to that close; for today’s live moves see Markets.


DSE All-Share
4,415.49▲ 0.44%
DSEI · 2 Sep close · daily move
Tanzania Share Index
9,699.66
TSI · 2 Sep · domestic
USD / TZS
2,638.96
BoT mean · 3 Sep sheet
BoT rate
6.25%
CBR · Q3 2026
91-day T-bill
3.49%
BoT WAR · latest auction
364-day T-bill
6.28%
BoT WAR · latest auction
Inflation
4.2%
NBS · July 2026 headline
Today in 60 seconds
  1. Wednesday's DSE close combined a higher DSEI with a lower TSI
  2. DSEI rose while TSI fell on Wednesday
  3. Two banks supplied 85.6% of Wednesday equity turnover
WatchNext verified DSE closeAfter official DSE publication
Read the full Brief ↓

Did the domestic market and the headline index move together or apart over the covered quarter?

The domestic market against the headline index

Cumulative TSI return minus cumulative DSEI return · frozen at the 2026-09-02 covered session

-2.47 ppCurrent spread+0.00 ppHighest spread-3.58 ppLowest spread
Coverage 2026-06-05 → 2026-09-02 Vintage 2026-09-02 · final Revision current · v0
The domestic market against the headline index. Exact values underlying the chart.
DateRelationshipCumulative gap (pp)
2026-06-05Cumulative TSI minus DSEI0
2026-06-08Cumulative TSI minus DSEI-0.16
2026-06-09Cumulative TSI minus DSEI-0.45
2026-06-10Cumulative TSI minus DSEI-0.83
2026-06-11Cumulative TSI minus DSEI-1.03
2026-06-12Cumulative TSI minus DSEI-1.35
2026-06-15Cumulative TSI minus DSEI-1.75
2026-06-16Cumulative TSI minus DSEI-1.59
2026-06-17Cumulative TSI minus DSEI-1.68
2026-06-18Cumulative TSI minus DSEI-2.18
2026-06-19Cumulative TSI minus DSEI-2.06
2026-06-22Cumulative TSI minus DSEI-1.68
2026-06-23Cumulative TSI minus DSEI-1.88
2026-06-24Cumulative TSI minus DSEI-1.98
2026-06-25Cumulative TSI minus DSEI-2.96
2026-06-26Cumulative TSI minus DSEI-3.52
2026-06-29Cumulative TSI minus DSEI-3.58
2026-06-30Cumulative TSI minus DSEI-3.31
2026-07-01Cumulative TSI minus DSEI-2.59
2026-07-02Cumulative TSI minus DSEI-2.79
2026-07-03Cumulative TSI minus DSEI-2.49
2026-07-06Cumulative TSI minus DSEI-2.33
2026-07-08Cumulative TSI minus DSEI-2.56
2026-07-09Cumulative TSI minus DSEI-2.54
2026-07-10Cumulative TSI minus DSEI-2.53
2026-07-13Cumulative TSI minus DSEI-2.55
2026-07-14Cumulative TSI minus DSEI-2.75
2026-07-15Cumulative TSI minus DSEI-2.59
2026-07-16Cumulative TSI minus DSEI-2.79
2026-07-17Cumulative TSI minus DSEI-2.68
2026-07-20Cumulative TSI minus DSEI-2.65
2026-07-21Cumulative TSI minus DSEI-2.49
2026-07-22Cumulative TSI minus DSEI-2.4
2026-07-23Cumulative TSI minus DSEI-2.3
2026-07-24Cumulative TSI minus DSEI-3.4
2026-07-27Cumulative TSI minus DSEI-2.41
2026-07-28Cumulative TSI minus DSEI-2.01
2026-07-29Cumulative TSI minus DSEI-1.92
2026-07-30Cumulative TSI minus DSEI-1.94
2026-07-31Cumulative TSI minus DSEI-1.87
2026-08-03Cumulative TSI minus DSEI-1.95
2026-08-04Cumulative TSI minus DSEI-2.07
2026-08-05Cumulative TSI minus DSEI-2.29
2026-08-06Cumulative TSI minus DSEIN/A
2026-08-07Cumulative TSI minus DSEI-2.63
2026-08-10Cumulative TSI minus DSEI-2.25
2026-08-11Cumulative TSI minus DSEI-2.02
2026-08-12Cumulative TSI minus DSEI-2.22
2026-08-13Cumulative TSI minus DSEI-2.3
2026-08-14Cumulative TSI minus DSEI-2.05
2026-08-17Cumulative TSI minus DSEI-2.24
2026-08-18Cumulative TSI minus DSEI-2.35
2026-08-19Cumulative TSI minus DSEI-2.63
2026-08-20Cumulative TSI minus DSEI-2.5
2026-08-21Cumulative TSI minus DSEI-2.57
2026-08-24Cumulative TSI minus DSEI-2.19
2026-08-26Cumulative TSI minus DSEI-1.67
2026-08-27Cumulative TSI minus DSEIN/A
2026-08-28Cumulative TSI minus DSEI-1.02
2026-08-31Cumulative TSI minus DSEIN/A
2026-09-01Cumulative TSI minus DSEI-1.42
2026-09-02Cumulative TSI minus DSEI-2.47

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.

DSE Tape Check

Market breadth
Broad advance
11 rose, 7 fell
Advancers against decliners on the verified DSE close.
Turnover concentration
Concentrated
One name carried the tape
NMB 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 →

The two main indices moved apart

Wednesday's DSE close combined a higher DSEI with a lower TSI

Signal

4,415.49 rose 0.44%, while 9,699.66 fell 0.60%. Eleven of 20 traded counters rose.

Why it matters

The index split did not describe the whole board. NMB and CRDB carried 85.6% of share trading value.

What to watch

The next verified close tests whether the two indices and the number of rising counters move together.

Source: Dar es Salaam Stock Exchange · Edition 3 Sep 2026
Go deeper →
Market direction

DSEI rose while TSI fell on Wednesday

Signal

DSEI rose 0.44% and TSI fell 0.60% from 1 September to 2 September.

Why it matters

The two indices moved in different directions, while 11 of 20 traded counters rose.

What to watch

The next verified close tests whether the two index directions converge.

Source: Dar es Salaam Stock Exchange · Edition 3 Sep 2026 · Data verified · 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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Equity liquidity

Two banks supplied 85.6% of Wednesday equity turnover

Signal

NMB and CRDB supplied TZS 3.432bn of the verified TZS 4.008bn equity turnover.

Why it matters

Twenty counters traded, but most money passed through two banks. The total did not show broad liquidity.

What to watch

The next verified close tests whether trading value spreads beyond NMB and CRDB.

Source: Dar es Salaam Stock Exchange · Edition 3 Sep 2026 · Data verified · interpretation: Medium confidence
Go deeper →
Port investment signal

Qatar's port talks remain exploratory

Signal

Qatar expressed interest in Tanzania's port sector. Tanzania and Qatar announced a joint task force.

Why it matters

No amount, port asset, financing structure or timetable was disclosed. This is not committed capital.

What to watch

A named asset, investment amount and financing terms would turn interest into a measurable proposal.

Source: Daily News government-signal report · Edition 3 Sep 2026 · Data as reported · interpretation: Medium confidence
Go deeper →
Foreign exchange

The official USD/TZS mean edged up from its recent low

Signal

The BoT mean rose from 2,638.2146 on 2 September to 2,639.8663 on 3 September.

Why it matters

The latest mean remained inside the recent 30-observation range. One daily move does not establish a trend.

What to watch

The next dated BoT sheet tests whether the mean remains inside its recent range.

Source: Bank of Tanzania daily indicative exchange rates · Edition 3 Sep 2026 · Data verified · interpretation: Medium confidence
Go deeper →
The Ghost

The model book

The Ghost hypothetical model ledger is +12.25% since inception at its 2 September mark. Wednesday's NMB close affected the model record, while returns across the earlier index basis break remain unavailable.

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 official DSE publicationNext verified DSE closeTests whether the two index directions and the number of rising counters move together.
At scope and financing disclosurePort task forceA named asset, amount, ownership structure and timetable would show whether interest becomes a proposal.
At Finance review and ministerial signatureFishing-fee rulesThe signed rules and exact fee schedule are needed before KCP can quantify cost relief.
At the next dated BoT sheetUSD/TZS meanTests whether the official mean remains inside its recent range.
Get the Daily Brief before the market opens.

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Information and education only. No advice. No noise. Unsubscribe anytime.

Information and education only, not advice or a forecast. Market figures cover the DSE verified close of 2 Sep 2026. Other observations retain their own source dates.

Archive; past editions59
Share-price measures fell; trading stayed concentratedWednesday, 14 October 2026Indices rose, with trading concentrated in two banksTuesday, 13 October 2026Share prices rose, but the gains were unevenMonday, 12 October 2026Friday’s rise left share prices lower for the weekSaturday, 10 October 2026Share-price measures fell on a quieter trading dayFriday, 9 October 2026Share-price measures fell as more money changed handsThursday, 8 October 2026Share-price measures rose as less money changed handsWednesday, 7 October 2026Share-price measures fell while trading value barely changedTuesday, 6 October 2026More money traded in shares as both price indices fellMonday, 5 October 2026Domestic shares fell faster than the wider marketSaturday, 3 October 2026Share trading slowed as both price indices fellFriday, 2 October 2026Share trading rose as both price indices edged higherThursday, 1 October 2026More money traded in shares while both indices fellWednesday, 30 September 2026Both share indices fell as trading value roseTuesday, 29 September 2026Share prices rose, but two banks carried most trading valueMonday, 28 September 2026Can the share-price rise hold across more of the market?Sunday, 27 September 2026Domestic shares rose faster than the wider marketSaturday, 26 September 2026Share indices rose, while two banks carried most trading valueFriday, 25 September 2026Share-price measures fell; two banks carried most trading moneyThursday, 24 September 2026Shares rose, but one bank carried most trading valueWednesday, 23 September 2026Share prices rose, and more traded companies advanced than declinedTuesday, 22 September 2026Share indices fell, with most trading in two banksMonday, 21 September 2026Wednesday tests borrowing costs after a weaker share-trading weekSunday, 20 September 2026Shares fell as less money changed handsSaturday, 19 September 2026Share indices fell as NMB dominated tradingFriday, 18 September 2026Both indices fell as trading stayed narrowThursday, 17 September 2026Indices split, trading stayed concentratedWednesday, 16 September 2026Indices rose, trading stayed narrowTuesday, 15 September 2026Friday gains, concentrated tradingMonday, 14 September 2026Will trading value catch up with rising indices?Sunday, 13 September 2026Share indices rose as less money changed handsSaturday, 12 September 2026Both main indices rose as two banks carried most tradingFriday, 11 September 2026Both main indices rose as equity turnover fell by halfThursday, 10 September 2026The broad index fell while domestic shares edged higherWednesday, 9 September 2026Both main indices rose again, while two banks carried most trading valueTuesday, 8 September 2026Both main indices rose, but two banks still carried most trading valueMonday, 7 September 2026Index direction, trading breadth and Wednesday's bill auction set the next testsSunday, 6 September 2026The broad market rose while Tanzania-listed shares ended lowerSaturday, 5 September 2026CRDB supplied more than three quarters of Thursday's equity turnoverFriday, 4 September 2026Tuesday's indices weakened while NMB carried most trading valueWednesday, 2 September 2026Monday eased while one bank carried most trading valueTuesday, 1 September 2026Friday rose, but one bank still carried most trading valueMonday, 31 August 2026Comparability, liquidity breadth and Wednesday's bond auction set the next evidence testsSunday, 30 August 2026Index returns stayed unavailable as Friday liquidity remained concentratedSaturday, 29 August 2026DSE index returns went unavailable as NMB carried 89.8% of turnoverFriday, 28 August 2026Mobile access widened as the verified tape strengthened and bill yields fellThursday, 27 August 2026Swissport’s cash conversion strengthened while DSE index returns remained unavailableWednesday, 26 August 2026The DSE scale changed while the underlying equity tape remained activeTuesday, 25 August 2026The DSE indices eased as CRDB carried most verified turnoverMonday, 24 August 2026A split index tape, lighter Friday liquidity and stable FX set up the next evidence testsSunday, 23 August 2026The All-Share rose, the domestic tape slipped and liquidity thinned into FridaySaturday, 22 August 2026DSEI edged up as CRDB led the verified turnover poolFriday, 21 August 2026DSEI rose as NMB carried 59.2% of turnoverThursday, 20 August 2026Friday'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 2026