Daily FiZ – Thursday 01/04

Story of the Day:

Emirates is showcasing the UAE’s remarkable progress in its vaccination programme with a special flight that will carry only fully vaccinated crew and passengers onboard. Read more 

Local Business and Finance Sponsored By Liquid Telecom

The prices of cement will go down following a directive by the Competition and Consumer Protection Commission (CCPC) that a 50kg bag of the commodity be reduced by at least 30. CCPC has also fined Lafarge Zambia Plc and Mpande Limestone Limited turnovers for price-fixing with the two cement manufacturing entities expected to each pay 20% of their 2019 and 2020 turnovers. Read more: ZNBC 

Government has warned Oil Marketing Companies (OMCs) that they risk having their licenses revoked if they do not follow the statutory Instrument which stipulates that 50% transportation of oil be allocated to local transporters. Energy Minister Mathew Nkhuwa said this when he addressed oil tanker drivers in Lusaka today. Read more: ZNBC 

Shareholders in Zambia’s ZCCM-IH have overwhelmingly supported its acquisition of a 90% stake in Mopani Copper Mines (MCM), the state-owned mining investment firm said on Wednesday. Read more: Reuters

The micro insurer, aYo Zambia has passed the one million customer mark in one year of its existence inspite of launching at the onset of Covid-19 pandemic in February 2020. It is further aiming to double its market share in 2021 as it looks to give many Zambians as possible access to insurance. Read more: Zambian Business Times 

International Business and Finance

The economies of the countries in Sub Saharan Africa could grow by 2.3% to 3.4% in 2021, up from a 2.0% contraction in 2020, if the region successfully emerges from the COVID-19 pandemic, the World Bank said on Wednesday. Read more: Business Insider 

US President Joe Biden has called for trillions in spending aimed at re-igniting America’s economic growth by upgrading its crumbling infrastructure and tackling climate change. The $2.3tn proposal would direct billions to initiatives such as charging stations for electric vehicles and eliminating lead water pipes. Read more: BBC News 

The CEO of the world’s biggest oil company said he believes it will still be able to meet dividend payout expectations after Saudi Arabia’s crown prince announced that state-backed oil giant Saudi Aramco and petrochemical firm SABIC will fund the majority of a $1.3 trillion private sector investment plan for economic diversification. Read more: CNBC

Baylee Enterprises (Pty) Ltd, a private company headquartered in Botswana’s capital city Gaborone, is expected to start full production of electric cars in August this year. Read more: CGTN

Capital Markets Report Sponsored By ZCCM-IH

In 10 trades recorded yesterday, 9,532 shares were transacted resulting in a turnover of K263,490. Trading activity was recorded in Copperbelt Energy Corporation, ZCCM and Zanaco. The LuSE All Share Index (LASI) maintained its close at 4,021.07 points, as there were no share price movements. The market closed on a capitalization of K57,838,837,980 including Shoprite Holdings and K23,594,197,206 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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