Daily FiZ – Thursday 07/01
Economy

Story of the Day:

Enygma Ventures is delighted to announce it is extending its application period for its final 2020 call for applications to 15th January 2021. Female applicants from the SADC region of Africa who have either business ideas or existing operating businesses looking for growth capital are welcome to apply. Read more

Local Business and Finance Sponsored By Liquid Telecom

The Board of Access Bank Plc yesterday said its Zambian subsidiary, Access Bank (Zambia) Limited has completed the acquisition of Cavmont Bank Limited, following fulfilment of the key conditions precedent including regulatory approvals. Read more: This Day

A Zambian court has ruled the state-appointed liquidator of Vedanta’s Konkola Copper Mines will not be discharged despite a November ruling ordering a halt to proceedings to allow Vedanta and minority KCM shareholder ZCCM-IH to pursue arbitration. Read more: Reuters

Business pulse in Zambia remained subdued in the month of December as Kwacha bears, Rand bulls and general muted activity over the festivities weighed. According to Market Economics data released on January 06, Zambia headlined 49.0 from 49.3 in November. Read more: The Business Telegraph

Astute Agriculture Engineer Mukula Makasa has been named head of the Zambia Development Agency (ZDA) effective January 04. Prior to the appointment as Director General, Makasa served as Enterprise Development Director where he was tasked with provision of affordable Small to Medium Sized Enterprise (SME) funding and development of the sector. Read more: The Business Telegraph 

International Business and Finance Sponsored By Royal Zambian Airlines

The New York Stock Exchange (NYSE) said it will delist three Chinese telecom companies after an earlier reversal of the decision. The NYSE first announced it would delist China Mobile, China Telecom and China Unicom last week, following a Trump administration executive order. Read more: BBC News

The EU and China’s new investment deal may fail to make it past European lawmakers after they raised three big concerns with the agreement. Some politicians believe the agreement is lacking on enforcement, on human rights and say it could dent Europe’s relationship with the United States. Read more: CNBC

Bitcoin smashed through $37,700 to hit a new record high on Thursday helping to lift the total value of the entire cryptocurrency market above $1 trillion for the first time. Read more: CNBC

Nigeria is rapidly becoming the next flashpoint in the Africa debt crisis amid a dramatic increase in borrowing that threatens to submerge the economy. The Debt Management Office (DMO) warned that bilateral and multilateral debts stood at $31.98 billion as of September 2020.  Read more: Business Insider

Capital Markets Report Sponsored By ZCCM-IH

In 43 trades recorded yesterday, 396,362 shares were transacted yielding a market turnover of K718,246. Trading activity was recorded in AEL Zambia, Copperbelt Energy Corporation, PRIMA RE, Zambia Breweries and Zambeef. The LuSE All Share Index (LASI) maintained its close at 3,912.33 points, as there were no share price movements.

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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