Daily FiZ – Friday 15/01

Story of the Day:

As we begin the year 2021 trading on the LuSE, the first week of January 2021. Four days recorded trades of which Wednesdays’ equities trading was the best performance for the week. Nine companies securities recorded trade. Read more 

Local Business and Finance Sponsored By Liquid Telecom

Zambia and the European Union (EU) on Thursday signed a 33 million euros grant aimed at enhancing access to renewable energy in the southern African nation. Read more: Xinhua

President Edgar Lungu has urged big African economies to provide leadership towards the growth of the continent’s trade. President Lungu says big economies like Egypt, South Africa and Nigeria can provide leadership and boost the economic growth of Africa through intra continental trade. Read more: ZNBC

World Bank has ranked Zambia number three in Sub Saharan Africa in Agriculture and Agribusiness. In its ‘Enabling the Business of Agriculture (EBA) 2019 report’, the World Bank indicates that Zambia scored 63.73, out of 100, which is way above average for countries in the Sub Saharan Africa and similar income group. Read more: ZNBC

Eastern Provincial Agriculture Coordinator (PACO), Alex Chilala says the implementation of the multimillion cashew nut value chain under the World Bank-sponsored landscape project is progressing well. Read more: Lusaka Times 

International Business and Finance Sponsored By Royal Zambian Airlines

President-elect Joe Biden has unveiled a $1.9 trillion stimulus plan for the coronavirus-sapped US economy before he takes office next week. If passed by Congress, it would include $1 trillion for households, with direct payments of $1,400 to all Americans. The relief proposal includes $415 billion to fight the virus and $440 billion for small businesses. Read more: BBC News 

Donald Trump has taken a final swipe at China and its biggest companies, imposing more sanctions and investment bans in his last days of office. Nine Chinese firms have been added to the Pentagon’s blacklist of alleged ties to the Chinese military, including phone maker Xiaomi. Read more: BBC News

Federal Reserve Chairman Jerome Powell affirmed his commitment to keeping interest rates low for the foreseeable future even as he expressed hope for a strong economic recovery. “When the time comes to raise interest rates, we’ll certainly do that, and that time, by the way, is no time soon,” the central bank chief said Thursday during a Q&A session presented by Princeton University. Read more: CNBC

The African Development Bank (AfDB) has approved US$25 million from the Sustainable Energy Fund for Africa (SEFA) and the Clean Technology Fund (CTF) to advance African Renewable Energy Fund (AREF) II projects to boost low-carbon energy generation in sub-Saharan Africa. Read more: Zambia Daily Mail 

Capital Markets Report Sponsored By ZCCM-IH

There were no trades recorded yesterday.The LuSE All Share Index (LASI) maintained its close at 3,912.33 points, as there were no share price movements. The market closed on a capitalization of K57,358,966,682 including Shoprite Holdings and K23,119,760,702 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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