Story of the Day:
Andrew Sardanis is a Greek born Zambian Author, Artist, Politician and Businessman. He moved to our country at the age of 19 and fell in love with the land. Before his passing Mr Sadanis was one of the wealthiest businessmen to have ever operated in the country. Known popularly as the owner of the vast and beautiful Chaminuka, the wildlife and game reserve. Read more
Local Business and Finance Sponsored By Liquid Telecom
The Zambia Information and Communications Technology Authority (ZICTA) an increase in active mobile telephone subscriptions – from 17.2 million reported at the end of 2019 to 19.1 million subscriptions recorded at the end of 2020. The total number of active internet subscriptions in the country also increased – from 9.2 million subscriptions reported at the end of 2019 to 10.3 million recorded at the end of 2020. Read more: Developing Telecoms
Zambia’s Ambassador to Brazil, Alfreda Mwamba says Zambia needs advanced skills and technology programs in the aquaculture industry after touring a Brazilian company, Easy Development, that plans to embark on an investment mission to Zambia. She expressed optimism that the investment will create jobs and play a key role in Zambia’s Economic Recovery Program. Read more: ZNBC
Transport and Communications Minister Mutotwe Kafwaya says it is difficult for government to determine when Zambia Airways 2014 limited will be launched. And Civil Aviation Authority (CAA) director general Gabriel Lesa says the Authority lost about $5 million in 2020 due to COVID-19. Read more: ZNBC
Ministry of Commerce Trade and Industry Permanent Secretary Mushuma Mulenga has urged the Zambian Diaspora in Australia and New Zealand to take advantage of the conducive business environment in Zambia and invest to contribute to the growth of a diversified and resilient economy. Read more: Zambia Reports
International Business and Finance
Africa is expected to recover from its worst recession in half a century and reach 3.4 per cent growth in 2021, the African Development Bank said in its 2021 African Economic Outlook report, launched on Friday. Read more: Ghana Web
The Federal Reserve forecast average growth of 6.5% this year – up from 4.2% it predicted in December. The outlook for recovery in the jobs markets has also brightened, the Fed said. Despite the upgrade, officials did not move to raise interest rates. Read more: BBC News
Research firm MDS Transmodal calculated that Chinese exports led the world with a year-over-year increase of 3.5% in the third quarter. The growth was even bigger in the fourth quarter: 14%. Trade with China is a key concern for global markets. Read more: CNBC
Capital Markets Report Sponsored By ZCCM-IH
In 127 trades recorded yesterday, 316,390 shares were transacted resulting in a market turnover of K97,056. Share price gains were recorded in Standard Chartered Zambia of K0.05 and in CEC Africa of K0.01 on the quoted tier. Trading activity was also recorded in Copperbelt Energy Corporation, Lafarge, Real Estate Investments Zambia, Zambeef and Zanaco, The LuSE All Share Index (LASI) closed at 3,974.75 points, 0.48% up from its previous close of 3,955.65 points. 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: