BankingAugust 30, 2020

Atlas Mara by the numbers – Half Year 2020 Performance
-The following is an extract of SENS announcement  by Company Secretary Sandra Malupande by order of the Board issued in Lusaka, Zambia on 25 August 2020 Income statement The financial performance of the Group has continued to improve year on year with the Group and Bank recording profit after tax of ZMW14.3million compared to a […]

Banking, Economy, OpinionAugust 19, 2020

Why analysts got the Q3 2020 MPC prediction wrong
When Governor Dr. Denny Kalyalya announced the 3rd quarter monetary policy position to further reduce rates for the second time this year, many economists who had predicted a “hold” were caught off guard. Like all professionals, economists are rational beings and in this particular case “most” of the data indicated that a hold would be […]

BankingAugust 19, 2020

(Sponsored) Absa Bank Zambia PLC named 2020 Best Retail Bank in Zambia
Absa Bank Zambia PLC is pleased to announce that the bank has been named the 2020 Best Retail Bank in Zambia by the acclaimed International Business Magazine. The International Business Magazine is a coveted publication with recognised subject matter experts and strong research analysts covering emerging and disruptive finance and business trends. It is circulated […]

Banking, CavmontAugust 15, 2020

Cavmont Capital Holdings General offer and proposed De-listing
–SENS announcement republished. Issued by Rita Mapara- Ndhlovu Company Secretary by Order of the Board in Lusaka, Zambia on 6  August 2020 1. Introduction Further to the cautionary announcement released on the Stock Exchange News Service (“SENS”) of the LUSE on 8 July 2020, and the transaction announcement released on SENS on 6 August 2020, […]

Banking, StandchartAugust 15, 2020

Standard Chartered Bank will not declare dividend: FY2020
When the board of Standard Chartered Bank Zambia meets with shareholders during the forthcoming e-AGM, they will be pushing forward a “No-Dividend” resolution, according to a SENS announcement from the bank. “Resolution 3 – Dividend: To approve recommendation from the Board of Directors not to declare a dividend for the year ended 31 December 2019“, […]

BankingAugust 10, 2020

The Bankers Royal Rumble – H1 2020 (Q2 2020)
The first half of the year (H1) has come to an end so management teams across the banking industry are reviewing their strategies to determine how well they are performing against their annual budgets and whether they will meet their targets by year-end. Last week, the press released financial statements for the second quarter of […]

Banking, StanbicAugust 10, 2020

(Sponsored) Ending Urban Poor Housing – A Dream That Can Become Reality
Zambia has one of the highest urbanisation rates in sub-Saharan Africa with an annual growth of 4.35 percent – a rate higher than the country’s population growth rate standing at 2.9 percent – according to the World Factbook. This rapid urbanisation has placed a significant strain on the local housing stock as the country struggles […]

Banking, Economy, TelecomAugust 9, 2020

Will COVID-19 be the death of the ATM card? Is mobile money the heir apparent?
Automated Teller Machine (ATM) cards have been in existence for several decades now and have been the means by which customers of financial institutions are able to perform financial transactions such as cash withdrawals, deposits, funds transfers, or account information inquiries, at any time and without the need for direct interaction with bank staff. It has without a […]

Banking, Opinion, Personal FinanceAugust 8, 2020

CONSUMER CREDIT: EASY ACCESS TO MONEY
Access to credit in Zambia has become increasingly important as people seek out ways of getting money at a cheap cost. The biggest problem we have under or local credit markets is not that there isn’t enough money for everyone to access. Far from it. It is the plethora and complexity of credit options available. […]

Banking, CavmontJuly 11, 2020

Cavmont Capital enters M&A discussions with Access Zambia
Cavmont Capital Holdings Zambia has announced that it is in discussions with Access Zambia for a possible takeover of the bank, according to a statement from the bank. “Shareholders are advised that Cavmont Capital Holdings Zambia PLC (“CCHZ”) hereby announces that it has entered into exclusive discussions with Access Bank Zambia Ltd. (“Access Zambia”) regarding […]