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, FI, OpinionSeptember 19, 2019

Why put an end to VAT?
In August 2018, we had the first glimpse of how the Ministry of Finance was planning for the 2019 National Budget through the publication of the Medium Term Expenditure Framework and 2019 Budget.  In particular, the Government proposed to increase domestic Value Added Tax (“VAT”) collections by K2 billion in the 2019 projections, a 50% […]

Economy, RetailSeptember 18, 2019

Daily FiZ – Wednesday 18/09
Story of the Day 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. Read more Domestic Business & Finance Government has disclosed that they will be increasing electricity tariffs by […]

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”, […]

TelecomSeptember 17, 2019

(SPONSORED) RED DOT AND HIKVISION BOOST TECH-DRIVEN SECURITY IN ZAMBIA
Hikvision, the world’s leading provider of innovative security products and solutions, in association with Red Dot Distribution, Africa’s leading ICT distributor, highlighted their commitment to providing cutting edge products and solutions in order to boost the security sector in the African continent. At a corporate event hosted at the Hotel Neelkanth Sarovar Premiere, Lusaka, Zambia [&h

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 […]

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 […]

Banking, Investrust Bank PlcSeptember 10, 2019

Still at a loss after tax – Investrust Bank at half-year 2019
Investrust Bank has recorded a loss after tax of K39.74 million for the financial half-year ended 30 June 2019, according to a statement from the bank.   “The Bank recorded a loss after tax of K39.74 million for the half-year ended 30 June 2019 (H1 – 2018: Loss of K33.01 million)”, read a statement issued […]