DSE All-Share
4,102.83
As at DSEI · 20 Jul close · latest verified
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Permanent edition · Vol. I · No. 202
Tuesday, 21 July 2026
A frozen reading of Tanzania's economy, markets and statecraft. Figures remain bound to their stated observations; this archive never inherits a newer market tape.
DSE All-Share
4,102.83
As at DSEI · 20 Jul close · latest verified
USD / TZS
2,635
As at BoT mean · 20 Jul sheet · ~flat on the week
Gold · $/oz
$4,064
As at BoT reference · 16 Jul sheet
BoT rate
6.25%
As at CBR · Q3 2026
Inflation
4.0%
As at NBS · June 2026 headline
This edition in 60 seconds
Verified close
Signal
Monday closed at 4,102.83 (−0.22%), nine points off Friday's near-record, on TZS 4.6bn turnover — a tenth of Friday's inflated tape.
Why it matters
A nine-point give-back on a thin tape settles nothing: leadership stays narrow while US$4bn-plus of rail commitments converge on the central corridor.
What to watch
Whether Industrial & Allied extends its outperformance on the SGR/TAZARA story, and whether breadth turns at ordinary turnover.
Did the domestic market and the headline index tell the same story over the covered quarter?
As at 20 Jul 2026 · Source: Dar es Salaam Stock Exchange. Exact values and method remain in the static evidence table below.
Equities
Signal
4,102.83 −0.22% and 8,952.33 −0.19% Monday on TZS 4.6bn turnover vs Friday's 38.4bn; NMB held its 52-week high and movers were small caps.
Why it matters
One thin down-day settles nothing — but Industrial & Allied rose on a down index day, consistent with the rail-capex read-through.
What to watch
Advancers vs decliners at ordinary turnover, and whether Industrial & Allied keeps outperforming the All-Share.
Infrastructure
Signal
A US$2.7bn contract for the Tabora–Kigoma SGR segment is reported awarded; TAZARA's US$1.4bn revival accelerates; Vision 2050 is published.
Why it matters
Central-corridor rail is converting from communiqué to contract — cement (TPCC, TCCL) and the financing banks (CRDB, NMB) are the listed read-throughs.
What to watch
Primary-source confirmation of the award and its financing; whether cement volumes or bank project lending show it first.
Source: Open-source reporting (Bloomberg · Daily News) · Planning Commission · first seen 2026-07-21
Go deeper →Macro
Signal
NBS put June headline CPI at 4.0%, from 4.2% in May, with food inflation lower — below Kenya's 6.4%, above Uganda's 3.7%.
Why it matters
Disinflation is intact and policy is parked at a 6.25% CBR — but Brent above US$85 on Hormuz risk presses transport, the sticky component.
What to watch
July CPI (early Aug): whether transport pushes headline back toward the top of the 3–5% band as the import bill climbs.
Source: National Bureau of Statistics · first seen 2026-07-21
Go deeper →Rates
Signal
The 91-day WAR sits at 3.35% against a 6.25% CBR — ~290bp below policy — with no auction until ~29 Jul; USD/TZS steady near 2,635.
Why it matters
The front end eased straight through July's hike; a third straight fall at No. 1204 would make the transmission gap the domestic rates fact of the quarter.
What to watch
Auction No. 1204 (~29 Jul): the 91-day WAR and bid-to-cover; and whether the FOMC's oil framing moves the dollar into USD/TZS.
The Ghost · edition context
The Ghost's hypothetical TZS 500m model book is +4.30% since inception and bank-weighted — so a week where the rail-capex story names the financing banks (CRDB, NMB) while the index pauses on thin turnover is terrain read through its largest allocations.
Open the current Ghost tracker →What this edition watched
T-bill auction No. 1204 (expected)
A third straight fall in the 91-day WAR would confirm July's hike never reached the market — bid-to-cover matters as much as yield.
~29 Jul 2026 (inferred cadence, not an official BoT date)
US FOMC decision
A hold is priced; the oil-inflation framing moves the dollar and, through it, USD/TZS just as the import bill climbs.
28–29 Jul 2026
NBS July CPI
Whether transport — the sticky component — pushes headline back toward the top of the 3–5% band with Brent above US$85.
early Aug 2026
DSE breadth & the rail read-through
Advancers vs decliners at ordinary turnover, and whether Industrial & Allied (TPCC, TCCL) extends its outperformance on the SGR/TAZARA contracts.
week of 20 Jul 2026
US$2.7bn Tabora–Kigoma SGR award — primary confirmation
The contract is press-reported; a primary-source confirmation with financing terms would move it from candidate to counted capex.
coming weeks (unscheduled)
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 (20 Jul 2026); rates, FX and gold to the Bank of Tanzania; inflation to the NBS. Press-reported items — the US$2.7bn Tabora–Kigoma SGR contract award and the NMB–Mantrac equipment-finance facility — remain candidates pending primary confirmation. 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.