DSE All-Share
4,082.43
As at DSEI · 10 Jul close · latest verified
Permanent edition · Vol. I · No. 194
The Brief
Monday, 13 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
2,637
As at BoT mean · 13 Jul sheet · −7.6% YTD
Gold · $/oz
$4,092
As at BoT ref · 13 Jul mark ≈TZS 10.79m/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 reopens at 4,082.43 with four declines behind it and the week's two dated events ahead
- 02The pass-through test arrives mid-week: 91-day bills at 3.45% still sit ~280bp below the 6.25% CBR
- 03June CPI, due mid-month, is the first clean read on the fuel-subsidy exit and the 50bp hike
Markets
The DSE reopens at 4,082.43 with four declines behind it and the week's two dated events ahead
Signal
The market opens the week off the 10 Jul verified close of 4,082.43 (−0.17%), after four straight small declines and one TZS 137.7bn CRDB crossing.
Why it matters
Breadth ran negative all last week (7 up, 16 down) and Friday's turnover was 98% one block; the honest first read is board turnover without the crossing.
What to watch
Whether bank breadth on CRDB and NMB reasserts at ordinary turnover before the expected mid-week auction and Friday's Vision 2050 launch.
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 10 Jul 2026 · Source: Dar es Salaam Stock Exchange. Exact values and method remain in the static evidence table below.
Rates
The pass-through test arrives mid-week: 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; 91-day WAR 3.4549%, 364-day 7.1175%; No. 1203 is expected ~16 Jul (inferred cadence).
Why it matters
A policy rate the short bill ignores is a policy rate that isn't transmitting; the 364-day already clears the CBR, the 91-day does not.
What to watch
Whether the 91-day WAR steps toward 6.25% at No. 1203, and whether the 364-day holds above 7%.
Macro
June CPI, due mid-month, is the first clean read on the fuel-subsidy exit and the 50bp hike
Signal
May headline inflation held at 4.2% (April 4.0%); the June print due mid-July is the first month both the fuel-subsidy exit and the 2 Jul hike can show up.
Why it matters
Transport ran +11.9% y/y and diesel +13.8% in the May basket; June is where the fuel pass-through reaches the headline against the 3 to 5% band.
What to watch
The headline number against the 3 to 5% band, and the food vs energy contribution.
Source: NBS · first seen 2026-07-12
Go deeper →Policy
Vision 2050 launches Friday in Dodoma; the financing vehicles, LNG-Lindi foremost, are the market's real question
Signal
Dira 2050; a $1tn-economy, $7,000-per-capita plan across nine priority 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 path leans on private and external capital; the market-relevant content is which projects leave the podium with named vehicles.
What to watch
Named financing vehicles, investment MoUs signed around 17 Jul, and any listed-sector read-through in banks, cement and energy.
Source: Open-source reporting · first seen 2026-07-12
Go deeper →FX / Gold
The shilling starts the week at 2,636.59 on BoT's 13 Jul sheet as gold eases to about $4,092
Signal
USD/TZS stands at 2,636.59 on the BoT 13 Jul indicative sheet (10 Jul: 2,634.46); gold's BoT reference mark eased to ≈$4,092/oz on the same sheet.
Why it matters
The drift is small in shillings and decisive in dollars: at −7.6% YTD, the currency is subtracted from every TZS return before it reaches a hard-currency reader.
What to watch
Whether the drift persists through the Vision 2050 week, and whether BoT's ~28-tonne gold accumulation keeps supporting the reserve story.
The Ghost · edition context
The model-book allocation read
The Ghost's hypothetical TZS 500m model book is +4.13% since inception at the 10 Jul mark, with NMB Bank its largest equity position.
Tape read: For a bank-weighted model book this is a rates week before it is an equity week: the mid-week auction sets the risk-free hurdle the book competes against, and Friday's launch frames the credit demand banks might fund; educational, not advice.
Open the current Ghost tracker →What this edition watched
DSE reopens; CRDB follow-through
Mon 13 Jul 2026
T-bill auction No. 1203 (expected)
~16 Jul 2026 (inferred cadence)
June CPI print
~mid-Jul 2026
Vision 2050 formal launch, Dodoma
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 (10 Jul 2026, the latest session); rates to the Bank of Tanzania; FX and gold to the BoT 13 Jul indicative sheet; inflation to the NBS. Figures are as reported and require refresh against official data.