DSE All-Share
4,141.73
As at 27 Jul close · latest verified
Permanent edition · Vol. I · No. 209
The Brief
Tuesday, 28 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
2,639.85
As at BoT mean · 27 Jul sheet
Gold
$4,047
As at BoT reference · 27 Jul sheet
BoT rate
6.25%
As at Q3 2026 CBR
Inflation
4.0%
As at June · inside 3 to 5% band
This edition in 60 seconds
- 01Money returned, but four counters carried almost eighty-five per cent of the session
- 02Vodacom's operating growth now has a market price
- 03NMB's split changes the trading ticket, not the economics
Verified close
Money returned, but four counters carried almost eighty-five per cent of the session
Signal
4,141.73 fell 0.20% while 9,059.46 rose 0.80%; turnover reached TZS 14.38bn, with four counters supplying 84.7%.
Why it matters
Monday added funded activity, but not broad participation: NMB, VODA, TBL and CRDB dominated the tape while the two indices diverged.
What to watch
Whether turnover spreads beyond four names, VODA's move holds on two-sided volume, and the NMB split widens order depth.
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 27 Jul 2026 · Source: Dar es Salaam Stock Exchange. Exact values and method remain in the static evidence table below.
Mobile
Vodacom's operating growth now has a market price
Signal
VODA rose 9.7% to TZS 905 on 3.77m shares after service revenue grew 21.7% and EBITDA 37% in Q1 FY2027.
Why it matters
The filing gained a market price, but the soft prior-year base makes the headline growth rates poor run-rate proxies.
What to watch
Whether the 38.3% EBITDA margin holds as capex normalises, finance costs evolve and the next dividend decision is disclosed.
Source: Vodacom Tanzania · DSE · first seen 2026-07-27
Go deeper →Capital markets
NMB's split changes the trading ticket, not the economics
Signal
NMB's 1-for-10 subdivision lifts listed shares from 500m to 5bn; post-split trading starts 24 August, with no value dilution.
Why it matters
The lower trading ticket may widen participation, but it adds no capital and changes no holder's proportionate economic interest.
What to watch
The 20 to 21 August pause, 21 August register close, then order count, spread and turnover after the 24 August restart.
Source: NMB Bank · first seen 2026-07-27
Go deeper →Manufacturing
Two cement filings show demand and different balance-sheet pressure
Signal
TCCL Q2 net profit rose to TZS 9.4bn from 3.8bn; TPCC's rose 4.5% to TZS 16.78bn as its cost of sales grew 26.5%.
Why it matters
Both filings show construction demand, but balance-sheet choices diverge: TCCL faces refinancing while TPCC prioritised distributions.
What to watch
TCCL's TZS 104bn current borrowings, both firms' margin paths, TPCC capex and any financing or dividend follow-through.
Source: Tanga Cement · Twiga Cement · first seen 2026-07-27
Go deeper →Policy
External financing and solar delivery move from approval to execution
Signal
IMF reviews released about US$443.8m; Kishapu solar phase two adds a TZS 204.4bn contract and a 17-month delivery clock.
Why it matters
Both are execution stories: one missed IMF criterion and three incomplete reforms remain, while power benefits depend on delivery.
What to watch
The waiver, energy-reform milestones, contractor mobilisation, grid integration and commissioning over the 17-month window.
Source: IMF · TANESCO · first seen 2026-07-28
Go deeper →The Ghost · edition context
The model-book allocation read
The Ghost's hypothetical TZS 500m model book is +6.10% since inception at its 27 Jul mark. VODA's move and NMB's split sit inside a bank-and-mobile-heavy model-book allocation; they are terrain for studying concentration, liquidity and event mechanics, not trades.
Open the current Ghost tracker →What this edition watched
US FOMC decision
The scheduled global-rate event for the dollar backdrop; the following BoT FX sheets show whether the latest shilling drift extends or fades.
28 to 29 Jul 2026
T-bill auction No. 1204
The next posted result tests whether the 91-day yield remains about 290bp below the 6.25% CBR; the inferred date is not treated as fact.
≈29 Jul 2026 (inferred cadence, not an official BoT date)
Bank of England decision
The vote tests the balance between softer activity and energy-linked inflation risk after the June hold at 3.75%.
30 Jul 2026
NMB share-subdivision window
The pause, register close and restart create the first observable test of whether a lower unit price broadens order depth and participation.
20 to 24 Aug 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 (27 Jul 2026); rates, FX and gold to the Bank of Tanzania; inflation to the NBS. The current Wire hand-off was read first and all four primary-grade corporate candidates were incorporated; the ≈29 Jul auction date is inferred from cadence, not an official calendar entry. For live market levels see Markets.