Story of the Day:
Mortgage lender, Zambia National Building Society, has partnered with steel manufacturer BSI Steel Zambia and cement maker Lafarge Zambia Plc in their latest mortgage promotion that is set to run for 6 months. Read more
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Government says Zambia recorded an economic growth rate of negative 2 percent in 2020 due to the harsh effects of COVID 19. Commerce, Trade and Industry Minister Chikopa Mulenga says the pandemic has had devastating economic impact globally. Mr. Mulenga has called for concerted measures to revamp Zambia’s economy. He says the UPND Administration is ready to provide a conducive environment to Zambia’s economic recovery. Read more: ZNBC
An Egyptian trade mission, with the participation of 15 Egyptian companies, has visited Zambia with the aim of increasing exports to the African market and better identifying the needs of the Zambian market. Read more: Daily News Egypt
The Securities and Exchange Commission – SEC has revealed that they are in the process of coming up with a new capital markets master plan that pivots towards coming up with a regulatory framework that supports efforts in finding ways to enable local businesses and SMEs raise capital through for instance private equity and venture capital. Read more: Zambian Business Times
There is need for the implementation of policies to support increased private sector participation in the fuel supply value chains, Petroleum Transporters Association of Zambia (PTAZ) secretary general Benson Tembo has said. And Energy and Financial Solutions managing partner Andrew Kamanga said it is sad to see Government using the national treasury to fund fuel procurement. Read more: Zambia Daily Mail
International Business and Finance
A new report titled Mobile Financial Services on the Rise has revealed that nearly half of all consumers in Sub-Saharan Africa use mobile financial services in 2021 – a more-than three-fold increase in the last six years. Read more: Business Insider
Taiwan has filed an application to join a key Asia-Pacific trade pact just days after China submitted an application. But it warned that its bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) could be put at risk should China join first. The two places have a complicated relationship. Taiwan considers itself as an independent nation, but China regards it as a breakaway province. Read more: BBC News
Investors were left in the dark after troubled property giant Evergrande missed a deadline for a $83.5m interest payment. The Chinese firm is yet to make an announcement regarding the payment, which was due on Thursday. Earlier in the week, the company said it had struck a deal over another interest payment worth $35.9m. Global markets have been rocked by concerns over the firm’s ability to support its more than $300bn of debts. Read more: BBC News
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In 2 trades recorded yesterday, 200 shares were transacted resulting in a turnover of K224. Trading activity was recorded in PUMA. The LuSE All Share Index (LASI) maintained its close at 4,895.54 points, as there were no share price movements.