DSE All-Share
4,089.24
As at DSEI · 9 Jul close · latest verified
Permanent edition · Vol. I · No. 191
The Brief
Friday, 10 July 2026
A frozen reading of Tanzania's markets, capital and policy. Figures remain bound to their stated observations; this archive never inherits a newer market tape.
USD / TZS
2,634
As at BoT mean · 10 Jul sheet · −7.4% YTD
Gold · $/oz
$4,111
As at BoT ref · 10 Jul mark ≈TZS 10.83m/oz
BoT rate
6.25%
As at CBR · Q3 2026
Inflation
4.2%
As at NBS · May 2026 headline
This edition in 60 seconds
- 01The DSE eases in its first full session back as a mild foreign net-selling tilt meets thin breadth
- 02Vision 2050 launches in Dodoma on 17 July; the financing vehicles, LNG-Lindi foremost, are the market's real question
- 03The front end waits on auction No. 1203: 91-day bills at 3.45% still sit ~280bp below the 6.25% CBR
Markets
The DSE eases in its first full session back as a mild foreign net-selling tilt meets thin breadth
Signal
The post-Saba Saba tape eased to 4,089.24 (9 Jul 2026, −0.31%); locals were ~90% of buying as foreigners tilted to net sellers on TZS 6.72bn turnover.
Why it matters
One session isn't a trend, but it's the first read on whether the Week-27 bank-led rally (CRDB, NMB) cooled once the holiday pause lifted and turnover normalised.
What to watch
Whether the mild foreign net-selling extends next week and whether bank breadth on CRDB and NMB reasserts at normal turnover.
Did the domestic market and the headline index move together or apart over the covered quarter?
The domestic market against the headline index
As at 9 Jul 2026 · Source: Dar es Salaam Stock Exchange. Exact values and method remain in the static evidence table below.
Politics
Vision 2050 launches in Dodoma on 17 July; the financing vehicles, LNG-Lindi foremost, are the market's real question
Signal
Dira 2050; a $1tn-economy, $7,000-per-capita, private-sector-led plan across nine sectors; launches 17 Jul; the first five-year tranche is funded at TZS 12.50tn.
Why it matters
With donor grants set to fall ~39%, the $1tn path leans on mobilising private and external capital; the government is courting French and other investors ahead of the launch.
What to watch
Which flagship projects get named financing vehicles and co-investors, and any investment MoUs signed around 17 Jul.
Source: Open-source reporting · first seen 2026-07-10
Go deeper →Rates
The front end waits on auction No. 1203: 91-day bills at 3.45% still sit ~280bp below the 6.25% CBR
Signal
Auction No. 1202 (2 Jul) remains the latest on the BoT register at 10 Jul; 91-day WAR 3.4549%, 364-day 7.1175%; No. 1203 is due ~16 Jul.
Why it matters
No. 1203 is the first real test of policy pass-through; whether bill yields follow the CBR higher or demand keeps the front end pinned.
What to watch
The 91-day WAR at No. 1203 and whether the 364-day holds above 7%.
Commodities
Bank of Tanzania has built ~28 tonnes of gold reserves as bullion holds near $4,111/oz
Signal
Governor Tutuba says the BoT bought ~28 tonnes of gold (~$3.68bn) over 18 months; total reserves ~$6bn, ~4.3 months of import cover, with 4,000+ traders formalised.
Why it matters
Domestic gold-buying diversifies reserves away from FX and can support the shilling, while formalising local exports widens the tax base.
What to watch
Whether reserve cover holds near 4+ months as the import bill runs, and the pace of gold-export formalisation.
Macro
June CPI, due mid-July, is the first band test after the fuel-subsidy exit and the 50bp hike
Signal
June CPI is the first test of the 3 to 5% band after the fuel-subsidy exit and the 2 Jul 50bp CBR hike; May headline held at 4.2% (Apr 4.0%).
Why it matters
Transport ran +11.9% y/y and diesel +13.8% in the May basket; June is where the fuel pass-through shows up in the headline.
What to watch
The June CPI band test, then T-bill auction No. 1203 around 16 Jul.
Source: Open-source reporting · first seen 2026-07-08
Go deeper →The Ghost · edition context
The model-book allocation read
The Ghost's hypothetical TZS 500m book is +4.12% since inception, with NMB Bank its largest equity position.
Open the current Ghost tracker →What this edition watched
June CPI print
First inflation-band test after the fuel-subsidy exit and the 2 Jul 50bp hike.
~mid-Jul 2026
DSE foreign-flow follow-through
Whether the mild foreign net-selling tilt extends or reverses.
next week
BoT T-bill auction No. 1203
First real test of policy pass-through into the front end.
~16 Jul 2026
Vision 2050 formal launch, Dodoma
Named financing vehicles and co-investors are the market signal.
17 Jul 2026
Compiled from open-source reporting for information and education only; not investment advice. Equity and index figures reconcile to the Dar es Salaam Stock Exchange verified close (9 Jul 2026); rates, FX and gold to the Bank of Tanzania. Figures are as reported and require refresh against official data.