EconomyFebruary 20, 2018

MPC Dates the Public on Wed 21
Dr. Denny Kalyalya and his legion of economists have been hard at work over the last 48 hours poring through economic data and coming up with numbers that will be announced tomorrow Wednesday 21st at the MPC briefing. Some key announcements in recent weeks were the plan to restructure government debt. According to Reuters, “Zambia […]

FinanceFebruary 19, 2018

The next IPO on LuSe
It’s been a while since we last had an IPO. In our market, they are seldom and few in between. However, when the signal that ZAFFICO may be seeking an IPO in 2018 was issued, we at FiZ got extremely excited because our firm would finally have an opportunity to track an IPO in Zambia. […]

StrategyFebruary 19, 2018

When Companies Face Working Capital Constraints
James Rouse (a US real estate developer) once said that ‘Profit is not the legitimate purpose of business. The legitimate purpose of business is to provide a product or service that people need and do it so well that it is profitable!’ Very candid words indeed. However, the reality that 2018 offers many businesses in […]

EconomyFebruary 16, 2018

Why Valuations need to be in the Spotlight
Mergers and Acquisitions (M&As) are not common in Zambia. However, when they do happen most are seldom in the public domain making it difficult to build a profile for those investors who have an appetite for local assets. Knowing the profile of the investor gives us an idea of whether that investor behaved rationally when […]

Agriculture, Strategy, Zambeef Products PlcFebruary 13, 2018

IDC under Attack
It has been an interesting start to the year 2018 for the custodians of all parastatals. IDC closed 2017 with a $15m purchase of ZAMPALM. While the ink was still drying following this acquisition, we learned through zambia24.com that their CEO Mateyo Kaluba (MK) had announced to a Parliamentary Committee on Parastatal Bodies chaired by Msanzala Member […]

EconomyFebruary 9, 2018

Mutati and Chiteme Proud of Reforms
Felix Mutati and Alexander Chiteme (Ministers of Finance and Development Planning respectively) are confident that the economic and fiscal consolidation reforms their Government embarked on in 2017 are beginning to yield positive results. According to a statement from Ministry of Finance following a liaison meeting with Zambia’s Cooperating Partners (basically a group entities with deep [&hellip

EconomyFebruary 8, 2018

Currency Outlook in 2018
The last 5 years have been very interesting for the Kwacha. In 2014, many would have forgotten that that our currency lurked in the K5-6 range to the dollar. It is now currently flirting the south of K10 region. For businesses that have long term strategies of say 5 to 10 years, it is important […]

Copperbelt Energy Corporation PlcJanuary 30, 2018

CEC Enters Transfer Market
While many pundits were busy looking at the English premier league transfer window, FiZ had its eyes set on another transfer of significant importance. Through SENS announcement of 30th January 2018, news broke out regarding a firm intention to make a binding offer for all of the ordinary shares of Copperbelt Energy Corporation PLC for […]

Banking, EconomyJanuary 29, 2018

Crowding out projected to ease
On 26th January 2018, Moody’s Investors Service announced that it had revised the rating outlook for the Government of Zambia to stable from negative and affirmed its B3 long-term issuer rating. Finance Minister Felix Mutati will be most pleased with this development as the measures his economic and finance team’s put in place are beginning […]

EconomyJanuary 29, 2018

Economic Outlook for 2018
As January comes to a close, many businesses are still reeling from the year that was 2017. For some companies in Zambia, it was a mixed bag of fortune and misfortune. Many CEOs have since returned to the helm of their companies and are upbeat about the prospects of 2018. They will be sitting down […]