Daily FiZ – Tuesday 23/02

Story of the Day:

Pan African telecoms operator, Paratus Group Africa is in the process of opening a Data Centre in Lusaka, which will be the company’s third Data Centre in Africa. The total investment into the Data Centre in Lusaka will be around US$5.75 million. Read more 

Local Business and Finance Sponsored By Liquid Telecom

The Bank of Zambia sold K453.3million worth of government bonds in a deeply undersubscribed debt sale with an 80.0% skew towards the 2-year paper housed at 32.0%. This is the second subscription haircut recorded in 2021. Read more: The Business Telegraph 

Mines Minister, Richard Musukwa has called for more partnerships between Zambia and Italy. Mr. Musukwa says meaningful investment in the mining sector is welcome and that Government wants to see investment in other minerals which the country is endowed with. Italian Ambassador to Zambia, Antonino Maggiore said Italian firms are interested to invest in the Emerald sub sector. Read more: ZNBC 

The Economics Association of Zambia (EAZ) has called on government to probe the rising prices of cement in the country. Association President Lubinda Habazoka says the continued upward adjustment in the price of cement is unjustified given the sustained stability in the exchange rate. Read more: ZNBC

China and Zambia agreed to enhance practical cooperation in areas of fighting COVID-19, infrastructure construction, and improving people’s livelihood, among others, as Zambian President Edgar Lungu met with visiting senior Chinese diplomat Yang Jiechi in Lusaka, capital of Zambia, on Monday. Read more: CGTN

International Business and Finance

HSBC has signalled its “pivot to Asia”, outlining plans to invest about $6bn in the region. The strategy update came as HSBC reported a 34% drop in profits for 2020 partly due to the impact from Covid-19. The UK-based bank already generates the bulk of its revenues from Asia. Read more: BBC News 

Apple shipped more smartphones than any other company during the fourth quarter of 2020. The tech giant shipped nearly 80 million units in the quarter, surpassing all other smartphone makers, including Samsung. It’s the first time Apple has been atop the smartphone market since 2016, the report said. Read more: CNBC

Air Namibia is set to lose its headquarters after the flag carrier failed to honor a 10-million-euro settlement agreement signed on January 29 with Belgian flyer Challenge Air. Read more: CGTN

Makhtar Diop has been named as the chief executive of the International Finance Corporation (IFC), the private arm of the World Bank. The appointment makes him the first African to head the position. Read more: Ghana Web 

Capital Markets Report Sponsored By ZCCM-IH

In 75 trades recorded yesterday, 80,247 shares were transacted yielding a market turnover of K164,117. A share price gain of K0.04 was recorded in Zanaco. Trading activity was also recorded in Copperbelt Energy Corporation, SHOP, Zambia Breweries, ZCCM, ZAMEFA, and Zambia Sugar. The LuSE All Share Index (LASI) closed at 3,984.41 points, 0.33% up from its previous close of 3,971.18 points. The market closed on a capitalization of K57,668,036,785 including Shoprite Holdings and K23,434,265,599 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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