Tanzania Share Index 10,300.66 ▲ 1.32%USD / TZS 2,645.28Equity turnover TZS 11.76bn 21 Sep 2026 verified close
Tanzania Intelligence

The Brief

Vol. I · No. 263
Tuesday, 22 September 2026
Verified closeDSE · BoT · frozen to the covered session21 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 Monday, 21 September 2026; the most recent verified session. Its figures are frozen to that close; for today’s live moves see Markets.

DSE All-Share
4,633.82▲ 0.69%
DSEI · 21 Sep close · daily move
Tanzania Share Index
10,300.66
TSI · 21 Sep · domestic
USD / TZS
2,645.28
BoT mean · 22 Sep sheet
91-day T-bill
3.49%
BoT WAR · latest auction
364-day T-bill
6.28%
BoT WAR · latest auction
Today in 60 seconds
  1. Share prices rose, and more traded companies advanced than declined
  2. No single company carried most of Monday's trading
  3. Tuesday's provisional dollar reference stayed close to the latest finalized reading
WatchNext official DSE closeAfter the next session, once published
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 2026-09-21 covered session

+0.75 ppCurrent spread+1.31 ppHighest spread-1.61 ppLowest spread
Coverage 2026-06-24 → 2026-09-21 Vintage 2026-09-21 · final Revision current · v0
The domestic market against the headline index. Exact values underlying the chart.
DateRelationshipCumulative gap (pp)
2026-06-24Cumulative TSI minus DSEI0
2026-06-25Cumulative TSI minus DSEI-0.97
2026-06-26Cumulative TSI minus DSEI-1.54
2026-06-29Cumulative TSI minus DSEI-1.6
2026-06-30Cumulative TSI minus DSEI-1.33
2026-07-01Cumulative TSI minus DSEI-0.6
2026-07-02Cumulative TSI minus DSEI-0.81
2026-07-03Cumulative TSI minus DSEI-0.51
2026-07-06Cumulative TSI minus DSEI-0.34
2026-07-08Cumulative TSI minus DSEI-0.57
2026-07-09Cumulative TSI minus DSEI-0.56
2026-07-10Cumulative TSI minus DSEI-0.55
2026-07-13Cumulative TSI minus DSEI-0.57
2026-07-14Cumulative TSI minus DSEI-0.77
2026-07-15Cumulative TSI minus DSEI-0.6
2026-07-16Cumulative TSI minus DSEI-0.81
2026-07-17Cumulative TSI minus DSEI-0.7
2026-07-20Cumulative TSI minus DSEI-0.67
2026-07-21Cumulative TSI minus DSEI-0.51
2026-07-22Cumulative TSI minus DSEI-0.42
2026-07-23Cumulative TSI minus DSEI-0.32
2026-07-24Cumulative TSI minus DSEI-1.42
2026-07-27Cumulative TSI minus DSEI-0.42
2026-07-28Cumulative TSI minus DSEI-0.03
2026-07-29Cumulative TSI minus DSEI0.07
2026-07-30Cumulative TSI minus DSEI0.05
2026-07-31Cumulative TSI minus DSEI0.12
2026-08-03Cumulative TSI minus DSEI0.03
2026-08-04Cumulative TSI minus DSEI-0.09
2026-08-05Cumulative TSI minus DSEI-0.31
2026-08-06Cumulative TSI minus DSEIN/A
2026-08-07Cumulative TSI minus DSEI-0.64
2026-08-10Cumulative TSI minus DSEI-0.27
2026-08-11Cumulative TSI minus DSEI-0.03
2026-08-12Cumulative TSI minus DSEI-0.24
2026-08-13Cumulative TSI minus DSEI-0.32
2026-08-14Cumulative TSI minus DSEI-0.07
2026-08-17Cumulative TSI minus DSEI-0.26
2026-08-18Cumulative TSI minus DSEI-0.37
2026-08-19Cumulative TSI minus DSEI-0.65
2026-08-20Cumulative TSI minus DSEI-0.51
2026-08-21Cumulative TSI minus DSEI-0.59
2026-08-24Cumulative TSI minus DSEI-0.2
2026-08-26Cumulative TSI minus DSEI0.31
2026-08-27Cumulative TSI minus DSEIN/A
2026-08-28Cumulative TSI minus DSEI0.96
2026-08-31Cumulative TSI minus DSEIN/A
2026-09-01Cumulative TSI minus DSEI0.56
2026-09-02Cumulative TSI minus DSEI-0.48
2026-09-03Cumulative TSI minus DSEI-1.57
2026-09-04Cumulative TSI minus DSEI-1.61
2026-09-07Cumulative TSI minus DSEI-0.18
2026-09-08Cumulative TSI minus DSEI0.37
2026-09-09Cumulative TSI minus DSEI0.42
2026-09-10Cumulative TSI minus DSEI1.31
2026-09-11Cumulative TSI minus DSEI1.18
2026-09-14Cumulative TSI minus DSEI0.94
2026-09-15Cumulative TSI minus DSEI0.73
2026-09-16Cumulative TSI minus DSEI0.88
2026-09-17Cumulative TSI minus DSEI0
2026-09-18Cumulative TSI minus DSEI0.12
2026-09-21Cumulative TSI minus DSEI0.75

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
10 rose, 6 fell
Advancers against decliners on the verified DSE close.

Descriptive flags from the verified DSE close; not signals, predictions, or advice. The official close, fully broken down; After the Bell →

Monday's close

Share prices rose, and more traded companies advanced than declined

Signal

Both main share indices rose on Monday. Among companies with executed trades, 10 advanced and six declined.

Why it matters

DSE All-Share 4,633.82 (+0.69%); Tanzania Share Index 10,300.66 (+1.32%). The count shows how many traded shares moved, not how many investors traded.

What to watch

The next official close can show whether this broader rise continues. Monday's count does not establish investor confidence.

Source: Dar es Salaam Stock Exchange · Edition 22 Sep 2026
Go deeper →
Trading distribution

No single company carried most of Monday's trading

Signal

Share trading reached TZS 11.76 billion. KCB carried the largest share, about 33 in every 100 shillings traded.

Why it matters

CRDB carried 16.0% and NMB 15.1%. Trading value, or turnover, shows money exchanged in trades; it does not count investors.

What to watch

The next official report can show whether trading stays distributed across several companies.

Source: Dar es Salaam Stock Exchange · Edition 22 Sep 2026 · Data verified · interpretation: Medium confidence
Go deeper →
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Exchange rate

Tuesday's provisional dollar reference stayed close to the latest finalized reading

Signal

Tuesday's provisional mean was TZS 2,641.8564 per US dollar. The latest finalized reading was TZS 2,641.1997 on 19 September.

Why it matters

The mean sits between the Bank of Tanzania's indicative buying and selling references. A bank or exchange bureau can quote a different rate and fees.

What to watch

A later finalized record will establish whether the 22 September observation changes. Two matching readings do not establish a trend.

Source: Bank of Tanzania · Edition 22 Sep 2026 · Data verified · interpretation: Medium confidence
Go deeper →
Opportunity Wire

Tanzania sets a large private-capital target for infrastructure

Signal

The Public Private Partnership Centre says Tanzania expects TZS 334 trillion of private capital for infrastructure from 2026/27 to 2030/31.

Why it matters

This is a target, not committed financing. Faster approvals could reduce project preparation time, but the statement gives no specific rule or timetable.

What to watch

Published approval timelines, signed financing terms and named lenders would show whether projects secure complete financing agreements.

Source: pppcentre.go.tz · Edition 22 Sep 2026 · Data verified · interpretation: Medium confidence
Go deeper →
The Ghost

The model book

The Ghost hypothetical model shows +18.39% since inception at its 21 September mark. Its calculation adjusts for added capital, before fees and taxes; this is not a promised return.

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 next session, once publishedNext official DSE closeWhether more traded companies continue to advance than decline.
Next finalized observationFinalized Bank of Tanzania dollar referenceWhether the provisional 22 September mean changes.
Date not announcedPublic-private project approval and financing termsA target and process aim do not establish committed project funding.
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Information and education only, not advice or a forecast. DSE close: 21 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 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 2026Wednesday's DSE close combined a higher DSEI with a lower TSIThursday, 3 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