Story of the Day:
The Boardroom of Nakambala Sugar Estate will now be graced by Roseta Chabala as Zambia Sugars’ latest addition to its illustrious Board, according to a statement from the company. Read more
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Consumer Price Index (CPI) in Africa’s copper hotspot widened 80 basis points to 12.5% for the month of January as announced by the Zambia Statistics Agency (ZSA). Read more: The Business Telegraph
Zambia closed last year on a positive note recording a trade surplus valued at K422 million while the annual inflation rate for January has increased to 12.5 percent. Read more: Zambia Daily Mail
Over 25,000 farmers in Zambia benefited from a €3 million (about K45 million) project by the Technical Centre for Agricultural and Rural Cooperation (CTA) through the scaling up of climate-resistant solutions for cereal and livestock. Read more: Zambia Daily Mail
The year on year inflation rate as measured by all items Consumer Price Index – CPI for January 2020 has increased to 12.5 percent, up from 11.7 percent recorded in December 2019, with Southern Province recording the highest rate of annual inflation at 15.5 percent followed by Lusaka at 13.3 percent. Read more: Zambian Business Times
Zambia has made some strides in aligning its Mining policy to the Africa Mining Vision, says the Center for Trade Policy and Development. Read more: Lusaka Times
Government has awarded over Six Million Kwacha to 17 recipients under the Productive Alliance Accelerator Model to help transform their businesses into highly productive enterprises and improve integration into higher value markets. Read more: ZNBC
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Zambia is among very few countries in the world whose mining tax regime has repeatedly and erratically been amended over the past decade. This is a sign that Zambian tax legislation, Regulations, and Statuary Instruments may be drafted to fix what is deemed a current problem and not prepared to adapt to trends, be forward-looking, and achieve equity and certainty. Read more
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Africa’s economic growth is forecast to rise to about 4% this year and next from 3.4% in 2019, driven by infrastructure investments and natural resource exports, the African Development Bank (AfDB) said on Thursday. Read more: Reuters
The Bank of England has held interest rates at 0.75% amid early signs of a pick-up in the UK and global economies. Read more: BBC News
US commerce secretary Wilbur Ross has said the deadly coronavirus outbreak in China could be positive for the American economy. Read more: BBC News
Amazon blew Wall Street’s expectations out of the water when it reported earnings for the holiday quarter, sending the company’s stock up over 12.5% in after-hours trading Thursday. Read more: CNN
Asia markets mostly rose on Friday afternoon as investors digested Chinese official manufacturing data that met expectations amid coronavirus fears. Read more: CNBC
At the UK-Africa Investment Summit 2020, Dr. Akinwumi A. Adesina, President of the African Development Bank, delivered his keynote speech by calling for the financing of sustainable infrastructures in Africa. Read more: Africa Business Chief
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There were no trades recorded yesterday. The LuSE All Share Index (LASI) maintained its previous close of 4,255.55 points, as there were no share price movements. The market closed on a capitalization of K56,516,311,713 including Shoprite Holdings and K22,277,105,733 excluding Shoprite Holdings.
Chart of the Day: