Insurance, Prima Reinsurance PlcSeptember 19, 2019

Prima Reinsurance losses continue at half year 2019
Prima Reinsurance’s woes are set to continue for another year as the company indicated that it forecast another loss after tax at half year 2019. “In accordance with section 3.4(b) of the Lusaka Securities Exchange Limited (“LuSE”) Listings Requirements, the Board of Directors advises the Shareholders of Prima Reinsurance PLC (“the Company”) that the Loss […]

Economy, OpinionSeptember 19, 2019

Zambia Chamber of Mines says “no” to Sales Tax; Offers alternatives
  With barely a week and half to go before Zambia’s Finance Minister presents the 2020 National Budget to parliament, Zambia Chamber of Mines has gone on the offensive and issued a strong signal against adoption of the General Sales Tax (GST).   The implementation of the replacement to Value Added Tax (VAT) has been […]

Energy, Puma Energy (Z) PlcSeptember 17, 2019

Puma records increased revenue at half-year 2019
Petroleum company, Puma Energy Zambia Plc, announced a profit before tax of K78.27 million at half-year 2019 despite a 3.8% dip in volumes compared to its half-year performance. “The Company recorded for the half-year ended 30 June 2019 a profit before tax of K78.27 million compared to K61.48 million recorded in the previous financial year”, […]

Real Estate, Real Estate investments Zambia (REIZ)September 17, 2019

Stalwart Director exits REIZ
The property investment company, Real Estates Investment Zambia (REIZ) has announced the resignation of one of their longest service directors, Dr. Elizabeth Nkumbula, from the board, according to a statement issued by the company.   “Pursuant to section 3.59 of the LuSE Listing Requirements, the Board of Directors of Real Estate Investments Zambia Plc wishes […]

Economy, OpinionSeptember 16, 2019

Weekly Capital Markets Report (9th to 13th September 2019)
The equities market posted a stronger performance in week 2 of September compared to the opening. The bond market marginally weakened in comparison. Despite edging up, Financial analytics Zambia indicates that the distribution of equities and bonds in week two in terms of turnover was 93% to 7%.   Equity Market Summary   In the […]

Economy, OpinionSeptember 16, 2019

Weekly Stock Market Diary (9th to 13th September 2019)
  Monday 9th   The week opened with 46 trades being recorded on the day with 829,101 shares being transacted, yielding a market turnover of K1,366,230. Copperbelt Energy Corporation and Zambia Breweries recorded a gain of K0.01 each while Standard Chartered Bank Limited recorded a loss of K0.07. Trading activity was also recorded in Lafarge. […]

Banking, StandchartSeptember 12, 2019

Topline shrinks, OPEX swells; Standard Chartered Bank 2019 half-year review
Contraction in the financial sector has continued as Standard Chartered Bank reported a 6% reduction in revenue following a 21% decrease in Non-funded income despite the 5% increase in banks’ core value-generating source – net interest income.   “H1 2019 performance for the Bank compared to H1 2018 has dropped on account of decrease in […]

Lafarge, ManufacturingSeptember 12, 2019

Lafarge forecasts 392% lower earnings per share at half year
Cement manufacturer Lafarge Zambia Plc announced its anticipation of a lower EPS when it publishes its six-month financial performance at the end of September 2019, according to a statement from the company.   “In accordance with Section 3.4(b) of the Lusaka Securities Exchange Listings Requirements, the Board of Directors of Lafarge Zambia PLC hereby advises […]

Real Estate, Real Estate investments Zambia (REIZ)September 11, 2019

REIZ forecasts 186% lower earnings per share at half year 2019
Property group Real Estate Investments Zambia Plc anticipates to report weaker earnings at half-year 2019 following unrealized exchange losses among other reasons, according to a statement from the company. “In accordance with the Lusaka Securities Exchange Limited Listings Requirements, the Board of Directors advises the Shareholders of Real Estate Investments Zambia PLC that for the […]

Economy, OpinionSeptember 11, 2019

When monetary policy advises fiscal – Dr. Denny Kalyalya’s concluding remarks on amendments to constitution
–The following is an extract from the Bank of Zambia Governor Denny Kalyalya’s comments on the amendment of the constitution of Zambia (amendment) bill no. 10 of 2019 A stable political order can only be achieved by establishing a constitutional order that is legitimate, credible, and enduring as well as that is readily accessible to […]