Daily FiZ – Monday 22/02
Economy

Story of the Day:

When a company decides to change its strategic direction, it can only mean one thing: They have seen opportunities that they believe their resources and capabilities can enable them to take advantage off. One can imagine that after two years of pursing a 5 year strategy from 2018, the investment analysts and strategists at ZCCM IH, performed a SWOT analysis of investment group which exposed the strengths that “IH” had coupled with the weakness that needed to be addressed. Read more


Local Business and Finance Sponsored By Liquid Telecom

Zambia’s Information and Communication Technology (ICT) regulator on Friday said that it has given a local firm a license to commence mobile phone services operations. The Zambia Information and Communications Technology Authority (ZICTA) said it has awarded Beeline Telecoms Limited to become the country’s fourth mobile phone service operator. Read more: Xinhua

Zambia Development Agency (ZDA), Zambia Chamber of Commerce and Industry (ZACCI) and the Brazilian Commercial Association of the Federal District (ACDF) have held talks on Trade and Investment aimed at enhancing cooperation between Zambia and Brazil. Read more: Zambia Reports 

The Association of Chinese Corporation in Zambia, (ACCZ) has reaffirmed its commitment to explore  further cooperation and development in the fields of mining, agriculture, construction, manufacturing, and vocational education, with the view to promote the China-Zambia economic and trade practices. Read more: Zambia Reports 

The Democratic Republic of Congo (DRC) government has implored Zambian companies to approach trade between the two countries with aggression and urgency. DRC Deputy Chief of Staff in the Presidency Getty Mpanu Mpanu says time has come for Zambian manufacturers and exporters to exploit the yawning Congolese market. Read more: ZNBC 

International Business and Finance

Copper prices climbed to their highest level in nearly a decade as investors in the commodity anticipate rising demand for infrastructure and construction projects in the post-pandemic economy. On Friday, the price of copper climbed above $4 per pound for the first time since September 2011. Read more: CNN

The trillion-dollar market value club has a new member: bitcoin. The total number of bitcoins trading are now collectively worth more than $1 trillion. That’s because the price of a bitcoin hit a number of new all-time highs Friday. One bitcoin currently costs around $55,000 — and there are about 18.6 million bitcoins in circulation according to Coinbase. Read more: CNN

Nigeria’s economy exited recession in the fourth quarter of 2020, growing a better-than-expected 0.11% in the three months through December, the latest data from the National Bureau of Statistics data showed. Read more: Business Insider 

China’s Foreign Minister Wang Yi on Monday called on the new U.S. administration to stop the “suppression” of Chinese technology companies and cut tariffs, as he laid out conditions for U.S.-China cooperation going forward. Read more: CNBC

Capital Markets Report Sponsored By ZCCM-IH

There were no trades on Friday. The LuSE All Share Index (LASI) maintained its close of 3,971.18 points, as there were no share price movements. The market closed on a capitalization of K57,610,286,783 including Shoprite Holdings and K23,376,515,598 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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