Daily FiZ – Thursday 10/09

Story of the Day:

A country’s currency is a measure of that country’s economic stability. A stable currency enables great financial forecast either on a national level, corporate level or even just on a personal level. Read more 

Local Business and Finance Sponsored By Liquid Telecom

The Mine Workers’ Union of Zambia (MUZ) says government’s intention to buy 90 per cent shares in Mopani Copper Mines from Glencore will redeem the mine’s operations. Read more: News Diggers 

Zambian Breweries Plc has posted huge losses of nearly K15.5 million in its half-year period ending June 30, 2020, mainly triggered by the kwacha’s rapid depreciation against major currency convertibles, which increased the company’s debt portfolio and hiked production costs. Read more: News Diggers 

A local entrepreneur has set aside over US$3.2 million for a diamond-processing plant that will start operating this month-end and will target producing between 15,000 and 25,000 carats in the first two to three years. Read more: Zambia Daily Mail 

The Zambian government said on Wednesday that Africa’s economic transformation lies in the ability to increase value addition and strengthening the participation of small and medium-sized enterprises in national and regional supply chains. Read more: Xinhua

Officials from Russia and Zambia are expected to hold a videoconference in September to discuss the ongoing project to build a nuclear research center in the African country. Read more: Urdu Point

Agriculture Minister Michael Katambo says farmers have responded very well to the Farmer Input Support Programme (FISP) during the 2020/2021 agricultural season. Read more: Lusaka Times 

International Business and Finance Sponsored By INQ

The far-reaching consequences of climate change have the ability to create chaos in the financial system and disrupt the American economy, according to a federal report released Wednesday. Read more: CNN

The Long-Term Stock Exchange started trading not with a bell, but a videoconference. The debut kicks off the company’s effort to enter the corporate-listings business, where the New York Stock Exchange and Nasdaq Inc. have a stronghold. Another challenger, IEX Group Inc., tried and failed to break through. Read more: Bloomberg

Investors have upped bets on more interest rate cuts by South Africa’s central bank after a historic contraction in the economy during the second quarter, when coronavirus lockdown measures curtailed activity. Read more: Reuters

Kenya has secured $750 million from the World Bank for projects aimed at developing the economy of its arid northeastern regions, the World Bank said late on Tuesday. Read more: Reuters

Capital Markets Report Sponsored By ZCCM-IH

In 22 trades recorded yesterday, 5,402 shares were transacted yielding a market turnover of K4,416. A share price loss of K0.02 was recorded in Copperbelt Energy Corporation. Trading activity was also recorded in Zanaco and ZAFFICO. The LuSE All Share Index (LASI) closed at 3,830.62 points, 0.19% down from its previous close of 3,838.20 points. The market closed on a capitalization of K55,494,286,349 including Shoprite Holdings and K21,255,080,369 excluding Shoprite Holdings.

Chart of the Day:

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For any feedback on the stories captured on the Daily FiZ, email Natasha on dailyfiz@fizambia.com

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