Story of the Day:
Airtel Zambia’s total revenue increased by 20.61% in 2020 representing ZMW2,598 million as compared to ZMW 2,154 million recorded in 2019. Moreover, the operating profit went up by 7.36% (ZMW 719 million) in the year. Read more
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Government says Zambia’s external debt remains at 12.74 billon dollars, contrary to claims that the debt was 27 billion dollars as of 2019. The Ministry of Finance says the 12.7 billion dollars was as of end of December 2020. Read more: ZNBC
Zambia has signed a Memorandum of Understanding with Zimbabwe aimed at promoting self-sustained economic growth for the two countries. Commerce, Trade and Industry Minister Christopher Yaluma says the MoU will be spearheaded by the COMESA secretariat. Read more: ZNBC
Margum Valley, the developer of the 200 megawatts (MW) solar thermal hybrid power generation plant in Kalulushi, is looking for an equity partner to invest 30 percent equity stake into the power project to provide for the sustainable implementation and operations of the investment and development prospects. Read more: Zambia Daily Mail
INDABA Agricultural Policy Research Institute (IAPRI) says the private sector needs a stable trade policy environment to help plan investments and maximise exports under the African Continental Free Trade Area (AfCFTA). Read more: Zambia Daily Mail
International Business and Finance
The first high-level gathering of U.S. and Chinese officials under President Joe Biden kicked off with an exchange of insults at a pre-meeting press event in Alaska on Thursday. A planned four-minute photo session for the officials to address reporters ended up lasting one hour and 15 minutes due to a frothy exchange. Read more: CNBC
The Rise Fund, the global impact investing platform of investment firm TPG is investing $200 million to buy a minority stake in Africa Airtel’s mobile money business. The investment will see the mobile money business – Airtel Mobile Commerce BV (AMC BV) — valued at $2.65 billion. Read more: CGTN
The outlook for the UK economy remains “unusually uncertain” despite the rapid rollout of the vaccine programme, the Bank of England has said. It came as the Bank held interest rates at historic lows of 0.1%. Read more: BBC News
British Airways will permanently let staff split their working lives between the head office and home in another example of big firms offering flexible employment. The airline is also exploring the sale of its headquarters where 2,000 people worked before the coronavirus lockdown. Read more: BBC News
Capital Markets Report Sponsored By ZCCM-IH
In 4 trades recorded yesterday, 2,172 shares were transacted resulting in a market turnover of K2,884. Trading activity was recorded in Zanaco and ZAFFICO. The LuSE All Share Index (LASI) maintained its close at 3,974.75 points,as there were no share price movements. The market closed on a capitalization of K57,625,843,385 including Shoprite Holdings and K23,392,072,200 excluding Shoprite Holdings.
Chart of the Day: