DAR ES SALAAM, Dec. 30 -- AS 2025 comes to a close, investors are naturally drawn to one important question: What next? While the instinct is often to rush into planning for the New Year, the most powerful investment decisions for 2026 will be shaped not by predictions, but by reflection.

The year 2025 reminded us that markets are not driven by certainty, but by expectations, emotions and discipline. Globally, investors navigated a mix of tightening financial conditions, shifting geopolitical dynamics and persistent inflationary pressures.

Locally, the Tanzanian capital market continued its gradual growth, supported by stable macroeconomic fundamentals, increased participation in government securities and a growing awareness of collecti...