DSE All-Share
4,111.98
As at DSEI · 17 Jul close · latest verified
Permanent edition · Vol. I · No. 201
The Brief
Monday, 20 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
2,635
As at BoT mean · 19 Jul sheet · ~flat on the week
Gold · $/oz
$4,023
As at world reference · 17 Jul mark
BoT rate
6.25%
As at CBR · Q3 2026
Inflation
4.0%
As at NBS · June 2026 headline
This edition in 60 seconds
- 01Monday reopens off Friday's record-adjacent close, into a week with nothing dated on the calendar
- 02The record test: three straight gains, but more names fell than rose
- 03NMB and a Caterpillar dealer open an equipment-finance channel for miners and contractors
Verified close
Monday reopens off Friday's record-adjacent close, into a week with nothing dated on the calendar
Signal
Monday reopens off 4,111.98; Friday's close, near the 3 Jul record after three gains; into a week with no auction or CPI dated.
Why it matters
With nothing dated this week, the honest read is the rally's quality: a record reached on negative breadth is carried by a few large names, not the whole board.
What to watch
Whether advancers start to outnumber decliners at ordinary turnover, and whether leadership widens beyond NMB and CRDB.
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 17 Jul 2026 · Source: Dar es Salaam Stock Exchange. Exact values and method remain in the static evidence table below.
Equities
The record test: three straight gains, but more names fell than rose
Signal
4,111.98/8,969.32 near the 3 Jul record after three gains; but weekly breadth was negative, more fell than rose, NMB at a 52-week high.
Why it matters
An index that makes a high while most names fall is led by a few large counters, not the market; the next leg's breadth is a cleaner tell than the record.
What to watch
Whether advancers outnumber decliners at non-block turnover, and whether leadership widens beyond NMB and CRDB.
Banking
NMB and a Caterpillar dealer open an equipment-finance channel for miners and contractors
Signal
NMB and Caterpillar dealer Mantrac have set up equipment finance for miners and contractors buying machinery on credit; terms undisclosed.
Why it matters
It routes bank liquidity into asset-backed lending for mining and construction; the machinery collateral de-risks it while widening NMB's loan book.
What to watch
Disclosed facility size, rate and tenor, uptake, and whether NMB's results show asset-lending growth. Candidate; not yet primary-verified.
Source: Open-source reporting (dailynews.co.tz) · first seen 2026-07-19
Go deeper →Rates
The front end sits ~290bp below policy, with nothing until the month-end auction to test it
Signal
Auction 1203 (15 Jul) put the 91-day at 3.35% and 364-day at 7.03% vs a 6.25% CBR; the next auction is ~29 Jul, so this week has none.
Why it matters
The transmission question; a policy rate the short bill ignores; is parked until month-end. This week's rates story is the absence of a catalyst.
What to watch
Whether the front-end/policy gap holds through a week with nothing dated to move it.
Shilling
The shilling holds near 2,635, subtracting little as a data-light week opens
Signal
BoT's 19 Jul sheet puts USD/TZS near 2,635; flat on the week, ~7.6% firmer year-to-date; the currency subtracts little as the week opens.
Why it matters
A stable shilling means a TZS return and a USD return say almost the same thing; the rare stretch when currency neither flatters nor erodes a Tanzanian return.
What to watch
Whether the anchor holds through a week with no auction or CPI to test it, or a drift reappears.
The Ghost · edition context
The model-book allocation read
The Ghost's hypothetical TZS 500m model book is +4.31% since inception, its largest equity model-book allocation a bank; so a week that opens with the index at a record on negative breadth, one bank name leading, and a fresh bank-credit channel in the news is the terrain it reads most closely.
Open the current Ghost tracker →What this edition watched
DSE; the record test vs breadth
Whether the three-session rally that carried the All-Share back toward its 3 Jul record broadens, or the record holds on negative breadth led by a few large counters.
week of 20 Jul 2026
NMB to Mantrac equipment-finance terms
Whether facility size, rate and tenor are disclosed and uptake shows in NMB's asset/SME lending; the reported channel is a candidate, not yet primary-verified.
this quarter (unscheduled)
Vision 2050 financing follow-through
Whether named financing vehicles and investment MoUs surface after the launch; the financial, not statutory, follow-through.
week of 20 Jul 2026
Next T-bill auction No. 1204 (expected)
The next scheduled test of front-end pass-through while the 91-day sits ~290bp below the 6.25% CBR; outside this week, but the standing rates catalyst.
~29 Jul 2026 (inferred cadence, not an official BoT date)
CRDB tape concentration
Whether board turnover and breadth read cleanly once CRDB's block-heavy tape normalises.
week of 20 Jul 2026
Compiled from public sources for information and education only; not investment advice, and not a forecast. Equity and index figures reconcile to the Dar es Salaam Stock Exchange verified close (17 Jul 2026); rates, FX and gold to the Bank of Tanzania; inflation to the NBS. The Wire handoff contained no primary-source cards, so the reported NMB to Mantrac equipment-finance item remains a candidate pending a primary source. Dated events are published only where the date is verified; the ~29 Jul auction is an inferred cadence, not an official BoT calendar entry. For live market updates see Markets.