Finance, Madison Financial Services PlcSeptember 19, 2018

Madison at Half Year 2018
In a recently published SENS Announcement on LuSE, Madison Financial Services Plc recorded results that showed a decrease in net performance over the half year period of 2018. With IFRS 9 effects being felt on the financial statements (IFRS 9 is an International Financial Reporting Standard (IFRS) promulgated by the International Accounting Standards Board (IASB). It […]

Finance, ZCCM-Investment Holdings PlcAugust 6, 2018

The Achilles Heel in the ZCCM IH Armory
Recently, I was in attendance at the President’s Luncheon held at Lusaka’s up market restaurant, The Horse Shoe (“a stylish restaurant located in a cool and calm environment at the former Polo Grill premises” according to thebestofzambia.com), hosted by ZCCM IH and Stanbic Bank. This was the first event that I would have the chance […]

Finance, Madison Financial Services PlcJuly 17, 2018

Madison Financial Services in 2017: Case of the PHD Syndrome
In a year of mixed fortunes, Madison Financial Services will remember 2017 for the highs and lows that where omnipresent in their financials. According to SENS Announcement published 14th June 2018, after a tremendous recovery was recorded for the total insurance business which had a triple jump in profits at 275%, the company made positive […]

Mining, ZCCM-Investment Holdings PlcJuly 2, 2018

ZCCM IH 2017 Performance
In his maiden letter to shareholders, State Counsel Eric Silwamba (the newly appointed board Chair of ZCCM Investment Holdings) expressed confidence in the management team of Pius Kasolo (CEO) and the group’s prospects going forward. Although new to the role, SC Silwamba takes over an investment group that is at a critical stage in its […]

Investrust Bank Plc, ZCCM-Investment Holdings PlcApril 12, 2018

ZCCM IH Mandatory Offer – Case of the ‘lonely’ underwriter
It all started with a right offer. Investrust bank needed to raise money. Debt or Equity are usually the choices that premier companies have when it comes to raising finance for whatever reason. The bank chose the latter which involved issue of rights to its existing shareholders that would enable them to buy additional shares […]

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. […]

FinanceJanuary 21, 2018

The Mechanics of On-Lending Agreements
There has been much hype over some of the bilateral agreements that get signed by nations that seek development. For those of us domicile in emerging economies (fancy word for 3rd world country), it is evident that development of infrastructure to provide the most basic of services has required financing that is concessional. Concessional loans […]

FinanceJanuary 15, 2018

Bitcoin, Madness of crowds
The other day I ran across a BBC report, on how African millennials have been caught up in the bitcoin frenzy. The more I read about bitcoin, the more am convinced it’s nothing more than a speculative financial bubble. In 2017 March when I started tracking down bitcoin price it was trading at $1000, by […]

Mining, ZCCM-Investment Holdings PlcJanuary 13, 2018

Pius “Smokes” Cigar following Impairment Joy
Dr Pius must have been smiling when the unaudited provisional financial statements for results ended 31 March 2017 hit his desk. With top-line eroding by 52% (K198M : 2016 and K95M : 2017), his ZCCM-IH was heading into abyss. However, noting the timing of the publication, FiZ believes there was a protracted audit period for […]

FinanceNovember 25, 2017

Misozi Mkandawire new MD for ZOONA
Earlier this month, ZOONA announced their newest Managing Director, Miss Misozi Mkandawire who has made MD at only 27 years old!! Such an amazing feat for such a young lady but on speaking to her, its easy to see how determined she is. Having invested her own money to open her first booth on Cairo […]

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