Tanzania Share Index 10,362.31 ▲ 0.52%USD / TZS 2,645.45Equity turnover TZS 2.73bn 24 Sep 2026 verified close
Tanzania Intelligence

The Brief

Vol. I · No. 266
Friday, 25 September 2026
Verified closeDSE · BoT · frozen to the covered session24 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 Thursday, 24 September 2026; the most recent verified session. Its figures are frozen to that close; for today’s live moves see Markets.

DSE All-Share
4,658.16▲ 0.43%
DSEI · 24 Sep close · daily move
Tanzania Share Index
10,362.31
TSI · 24 Sep · domestic
USD / TZS
2,645.45
BoT mean · 25 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 indices rose, while two banks carried most trading value
  2. Two banks carried 86.8% of Thursday’s share trading
  3. The latest 364-day Treasury bill auction implied a lower annualised rate
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 2026-09-24 covered session

+2.42 ppCurrent spread+2.91 ppHighest spread-0.01 ppLowest spread
Coverage 2026-06-29 → 2026-09-24 Vintage 2026-09-24 · final Revision current · v0
The domestic market against the headline index. Exact values underlying the chart.
DateRelationshipCumulative gap (pp)
2026-06-29Cumulative TSI minus DSEI0
2026-06-30Cumulative TSI minus DSEI0.27
2026-07-01Cumulative TSI minus DSEI0.99
2026-07-02Cumulative TSI minus DSEI0.78
2026-07-03Cumulative TSI minus DSEI1.09
2026-07-06Cumulative TSI minus DSEI1.25
2026-07-08Cumulative TSI minus DSEI1.02
2026-07-09Cumulative TSI minus DSEI1.04
2026-07-10Cumulative TSI minus DSEI1.05
2026-07-13Cumulative TSI minus DSEI1.03
2026-07-14Cumulative TSI minus DSEI0.83
2026-07-15Cumulative TSI minus DSEI0.99
2026-07-16Cumulative TSI minus DSEI0.79
2026-07-17Cumulative TSI minus DSEI0.9
2026-07-20Cumulative TSI minus DSEI0.93
2026-07-21Cumulative TSI minus DSEI1.09
2026-07-22Cumulative TSI minus DSEI1.18
2026-07-23Cumulative TSI minus DSEI1.28
2026-07-24Cumulative TSI minus DSEI0.18
2026-07-27Cumulative TSI minus DSEI1.17
2026-07-28Cumulative TSI minus DSEI1.57
2026-07-29Cumulative TSI minus DSEI1.66
2026-07-30Cumulative TSI minus DSEI1.64
2026-07-31Cumulative TSI minus DSEI1.71
2026-08-03Cumulative TSI minus DSEI1.63
2026-08-04Cumulative TSI minus DSEI1.51
2026-08-05Cumulative TSI minus DSEI1.29
2026-08-06Cumulative TSI minus DSEIN/A
2026-08-07Cumulative TSI minus DSEI0.95
2026-08-10Cumulative TSI minus DSEI1.33
2026-08-11Cumulative TSI minus DSEI1.56
2026-08-12Cumulative TSI minus DSEI1.36
2026-08-13Cumulative TSI minus DSEI1.28
2026-08-14Cumulative TSI minus DSEI1.53
2026-08-17Cumulative TSI minus DSEI1.34
2026-08-18Cumulative TSI minus DSEI1.23
2026-08-19Cumulative TSI minus DSEI0.95
2026-08-20Cumulative TSI minus DSEI1.08
2026-08-21Cumulative TSI minus DSEI1.01
2026-08-24Cumulative TSI minus DSEI1.39
2026-08-26Cumulative TSI minus DSEI1.91
2026-08-27Cumulative TSI minus DSEIN/A
2026-08-28Cumulative TSI minus DSEI2.56
2026-08-31Cumulative TSI minus DSEIN/A
2026-09-01Cumulative TSI minus DSEI2.16
2026-09-02Cumulative TSI minus DSEI1.11
2026-09-03Cumulative TSI minus DSEI0.03
2026-09-04Cumulative TSI minus DSEI-0.01
2026-09-07Cumulative TSI minus DSEI1.42
2026-09-08Cumulative TSI minus DSEI1.97
2026-09-09Cumulative TSI minus DSEI2.02
2026-09-10Cumulative TSI minus DSEI2.91
2026-09-11Cumulative TSI minus DSEI2.77
2026-09-14Cumulative TSI minus DSEI2.54
2026-09-15Cumulative TSI minus DSEI2.33
2026-09-16Cumulative TSI minus DSEI2.48
2026-09-17Cumulative TSI minus DSEI1.6
2026-09-18Cumulative TSI minus DSEI1.71
2026-09-21Cumulative TSI minus DSEI2.35
2026-09-22Cumulative TSI minus DSEI2.38
2026-09-23Cumulative TSI minus DSEI2.34
2026-09-24Cumulative TSI minus DSEI2.42

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
Negative tilt
8 rose, 9 fell
Advancers against decliners on the verified DSE close.
Turnover concentration
Concentrated
One name carried the tape
CRDB Bank was 47% 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 →

Thursday's close

Share indices rose, while two banks carried most trading value

Signal

The main share-price measures rose on Thursday. Two banks accounted for nearly nine in every ten shillings traded in shares.

Why it matters

DSE All-Share 4,658.16 (+0.43%); Tanzania Share Index 10,362.31 (+0.52%). Trading value counts money exchanged, not investors.

What to watch

The next official report can show whether trading remains concentrated. One session does not establish a trend.

Source: Dar es Salaam Stock Exchange · Edition 25 Sep 2026
Go deeper →
Trading distribution

Two banks carried 86.8% of Thursday’s share trading

Signal

Share trading totalled about TZS 2.73 billion. NMB and CRDB together accounted for 86.8% of that value.

Why it matters

CRDB contributed 47.3% and NMB 39.5%. These shares count money exchanged, not investors or rising stocks.

What to watch

The next DSE report can show whether share trading remains concentrated in the same companies.

Source: Dar es Salaam Stock Exchange · Edition 25 Sep 2026 · Data verified · interpretation: Medium confidence
Go deeper →
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Government borrowing

The latest 364-day Treasury bill auction implied a lower annualised rate

Signal

The 23 September 364-day Treasury bill auction implied 6.29% a year, down from 6.47% on 9 September.

Why it matters

A Treasury bill is short-term government borrowing. Its auction yield is not a saver’s guaranteed result after fees, tax and access rules.

What to watch

A later published auction will show whether that rate changes; its date is not in this record.

Source: Bank of Tanzania · Edition 25 Sep 2026 · Data verified · interpretation: Medium confidence
Go deeper →
Opportunity Wire

Transport regulator urges rain precautions; freight costs remain unmeasured

Signal

Tanzania’s land transport regulator urged precautions against possible heavy El Niño rain on 24 September.

Why it matters

Disrupted roads could delay freight and add costs. The notice reports no closure, funding commitment or new rule.

What to watch

Official road-status reports or repair spending would show whether the risk becomes a measured disruption.

Source: latra.go.tz · Edition 25 Sep 2026 · Data verified · interpretation: Medium confidence
Go deeper →
The Ghost

The model book

The Ghost hypothetical model shows +18.85% since inception at its 24 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 share trading stays concentrated in CRDB and NMB.
Date not stated in the current recordNext Treasury bill auction resultWhether the 364-day auction yield changes from 6.29%.
No date announcedTransport disruption and repair reportsWhether possible heavy rain leads to a documented road closure or repair cost.
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Information and education only, not advice or a forecast. DSE close: 24 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-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 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