In the penultimate and final weeks of 2019, the corporate bond market continued with its dominance over the equities market scoring 98% over 2% of the sales in the Zambian capital markets.
Equity Market Update
In the week ended 27th December 2019, a total of 69,307 shares were transacted in 40 trades, yielding a market turnover of K64,597. Trading activity was recorded in AEL ZAMBIA, CEC ZAMBIA, LAFARGE, ZAMBIA CONSOLIDATED COPPER MINES, and ZANACO. The LuSE All Share Index (LASI) closed at 4,264.51 points. The market remained on a capitalization of K56,516,055,827 including Shoprite Holdings and K22,276,849,847 excluding Shoprite Holdings.
In the final week of 2019, 1 trade was recorded with 79 shares were transacted, yielding a market turnover of K99. Trading activity was recorded in COPPERBELT ENERGY CORPORATION. The LuSE All Share Index (LASI) maintained its previous closes of 4,264.51 points. The market closed on a capitalization of K56,516,055,827 including Shoprite Holdings and K22,276,849,847 excluding Shoprite Holdings.
Bond Market Update
During the penultimate week of 2019, bonds of total face value of K3,501,000 were transacted in 7 trades, yielding a market value sales of K2,522,000.
In the final week of trading for 2019, Bonds of total face value of K16,920,000 were transacted in 19 trades, yielding a market value of sales of K12,782,940. This was a 407% increase from the previous week of trading.
Important Announcements
ZAMBIA NATIONAL BUILDING SOCIETY
In compliance with the requirements of the Securities Act No. 41 of 2016 of the laws of Zambia and the Listing Rules of the Lusaka Securities Exchange, the Directors of Zambia National Building Society, are pleased to announce the half-year results of the Group for the period ended 30th September 2019.
ZCCM INVESTMENT HOLDINGS PLC
On 23 December 2019, the Board of Directors of ZCCM-IH approved the proposal to enter into a Joint Venture (JV) partnership with Karma Mining Services and Rural Development Company (“Karma”). The purpose of the JV is to develop a gold processing and training operation in Zambia (” the Project”). Initially, the JV will source most of the gold ore from Artisanal and Small-Scale Gold Miners. Under the JV, ZCCM-IH and Karma will have 45% and 55% shareholdings respectively.