Story of the Day:
Zambia’s football governing body’s hopes of making history as the first executive to use the capital markets to raise capital for infrastructure and operations may have to wait a little longer, according to sources close to the matter. Read more
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As January month end draws nigh, Zambia Statistics Agency (ZSA) is expected to announce consumer price index for the first month of the year. Given rising energy price risks braced by a fuel pump price and electricity tariff hike announced on 26 December 2019, inflation number for January are forecast to ebb 80 basis points higher to 12.5% in Tuesday 28 January announcement. Read more: The Business Telegraph
Minister of Transport and Communications Mutotwe Kafwaya said the government has been investing heavily in reviving the railway and aviation sectors, which have not performed to expectations in recent years. Read more: News Ghana
The Zambia Cooperative Federation (ZCF) has entered into an equity partnership with Kasama Milling to own 70 per cent shares in the milling company in bid to reduce the mealie meal prices. Read more: Africa Business Communities
The provisional liquidator managing Konkola Copper Mines (KCM) was continuing to seek opportunities to sell the assets, said Vedanta Resources. Read more: Mining Mx
MTN Zambia has launched a new 3G and 4G Android smartphone to the market. Read more: IT Web Africa
India says Zambia remains a preferred investment destination because of its mature democracy and peace record. Read more: ZNBC
Over US$55,000 worth of Zambian handicrafts have been exported to Australia, South Africa and the United States of America (USA) facilitated by the Private Enterprise Programme Zambia (PEPZ). Read more: Zambia Daily Mail
KPMG Featured Article
A system and a concept called the “internet” intended for the good of humankind is now being used as a tool to propagate hate and perpetrate crimes. Has this great invention turned against its inventors? Has it brought more harm than good? Will inventors eventually create a system that will eradicate this Cyber Terrorism? Well, these are the questions that will keep ringing in our minds as technology evolves. Read more
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Kenya’s central bank joined its South African counterpart by unexpectedly cutting interest rates, citing well-anchored inflation expectations and an economy that’s operating below its potential. The monetary policy committee reduced its key rate to 8.25% from 8.5%. Read more: Yahoo Finance
The UK government is expected to decide on Tuesday whether to ban equipment made by Chinese technology giant Huawei from its 5G networks. Read more: BBC News
Gold prices on Monday tallied their highest finish in more than six years, as fears of the economic impact of a fast-moving viral outbreak hurt appetite for stocks and powered buying in assets perceived as havens. Read more: Market Watch
Barclays said on Tuesday oil prices will be impacted by $2 per barrel on the potential economic fallout from the coronavirus outbreak in China. Read more: Nasdaq
A growing number of American economists are bullish about growth in the coming year. Read more: CNN
Boeing Co has secured financing commitments for more than $12 billion from over a dozen banks, a source familiar with the matter said on Monday, as financial pressures mount due to a production halt on its 737 MAX aircraft. Read more: Reuters
South Africa’s Woolworths said on Monday it expects its half-year earnings to drop by up to 20%, dragged lower by an introduction of an accounting change combined with lean sales at its struggling units. Read more: Business Tech
Capital Markets Report Sponsored by ZCCM-IH
In 17 trades recorded yesterday, 21,153 shares were transacted, yielding a market turnover of K12,191. A share price gain of K0.01 was recorded in Lafarge. Trading activity was also recorded in AEL Zambia and Zanaco. The LuSE All Share Index (LASI) closed at 4,254.24 points, 0.01% up from its previous close of 4,253.76 points. The market closed on a capitalization of K56,512,852,112 including Shoprite Holdings and K22,273,646,132 excluding Shoprite Holdings.
Chart of the Day: