Story of the Day:
In the last year, Enygma Ventures funded 10 businesses across the SADC region and deployed almost $4m. As an industry agnostic player, their investments ranged across various industries including fintech, edtech, recruitment, food, e-commerce and many more, making them one of the most active investors on the continent. Read more
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AFGRI, a leading South African agriculture service company says Zambia is one of the most attractive agricultural investment destinations on the African continent. CEO Norman Celliers said Zambia has an advanced agriculture sector which made it the best investment destination in the region. Read more: Zambia Reports
Mining firms in Zambia on Thursday said the time was ripe for Zambia to create a favorable investment climate for the sector to accelerate production in view of increased global demand for copper. Read more: Xinhua
The Competition and Consumer Protection Commission (CCPC) has warned companies against engaging in cartel activities saying they are detrimental to the country’s economy. Read more: News Diggers
MTN Zambia had about 4.5 million mobile money customers as at last November, with 60 percent of them from the northern region.
Northern region’s general manager John Muyawala said the increase in mobile money customers has been necessitated by the over 50,000 mobile agents operating across the country. Read more: Zambia Daily Mail
International Business and Finance
The US has blacklisted seven Chinese groups it accuses of building supercomputers to help its military. It is the first move by the Biden administration to make it harder for China to obtain US technology. Read more: BBC News
AstraZeneca’s vaccine is key to ending the global economic slump caused by the coronavirus. But a series of missteps by the drugmaker and new concerns over blood clots risk undermining public confidence in the shot and delaying the recovery. Read more: CNN
U.S. stock futures moved higher in overnight trading on Thursday after the S&P 500 notched a fresh record in the regular session. Dow futures rose about 65 points. S&P 500 futures gained 0.25% and Nasdaq 100 futures rose 0.35%. Read more: CNBC
Rolls-Royce Motor Cars had its best quarter in its116-year history, setting a sales record in the first quarter as the world’s wealthy snapped up its $330,000 SUV and other models. The luxury car company, which is owned by BMW, delivered 1,380 cars in the first quarter, up 62% from the same quarter in 2020 as the pandemic started impacting sales and manufacturing. Read more: CNBC
Capital Markets Report Sponsored By ZCCM-IH
In 8 trades recorded yesterday, 13,033 shares were transacted resulting in a turnover of K16.291. Trading activity was recorded in Copperbelt Energy Corporation. The LuSE All Share Index (LASI) maintained its close at 4,021.53 points, as there were no share price movements. The market closed on a capitalization of K57,840,838,379 including Shoprite Holdings and K23,596,197,605 excluding Shoprite Holdings.
Chart of the Day: