Daily FiZ- Tuesday 16/02
Economy

Story of the Day:

After two years of executing a 5-year strategic plan, ZCCM IH’s board has made the bold decision to change its strategic course towards a more impactful undertaking that will see the investment group focus on mining, according to the Board Chairperson in his message to shareholders. Read more 

Local Business and Finance Sponsored By Liquid Telecom

Last Thursday’s treasury bill auction was oversubscribed by over K270 million as investors looked to participate in debt instruments, which are deemed as safe havens. The Bank of Zambia (BoZ) was looking to raise K1.3 billion using the short-term debt instrument but instead attracted about K1.573 billion. Read more: Zambia Daily Mail 

The cost of living for a family of five has skyrocketed to nearly K8,400 in January, 2021, a new all-time high, mainly triggered by high inflation, says the Jesuit Centre for Theological Reflection (JCTR). Read more: News Diggers 

The Zambia Association of Manufacturers (ZAM) has called on Zambians to embrace the call by President Edgar Lungu to promote local products. ZAM President Ezekiel Sekele says the call by the President is timely and necessary in growing the economy. Read more: ZNBC

Zambia National Farmers Union (ZNFU) has said the country is expected to have a bumper harvest because it has recorded one of the best seasons of crop production this year. Read more: Lusaka Times 

International Business and Finance

The African Continental Free Trade Area (AfCFTA) has stated that countries on the continent negotiating free trade agreements with parties from other parts of the world will be expected to give the same or better terms to member states of the AfCFTA. Read more: Business Insider 

The government of Namibia has closed the southern African country’s state-owned airline, Air Namibia, saying that it can no longer afford the financial losses. Read more: CGTN

Japan’s main stock index soared to its highest level in more than three decades on Monday as investors cheered signs of a rebound for the world’s third largest economy. The Nikkei 225 index jumped 1.9%, crossing the 30,000-point threshold for the first time since August 1990. Read more: CNN

The pound has hit its highest level against the dollar in nearly three years, amid rising optimism about an end to lockdown in the UK. It surpassed $1.39 on Monday, while also hitting a nine-month high against the euro at €1.147. Read more: BBC News

Capital Markets Report Sponsored By ZCCM-IH

There were no trades recorded yesterday The LuSE All Share Index (LASI) maintained its close at 3,948.15 points, as there were no share price movements. The market closed on a capitalization of K57,509,780,951 including Shoprite Holdings and K23,276,009,766 excluding Shoprite Holdings. Kindly note the symbol change of Prima Reinsurance PLC, previously identified by the Symbol “PRIMA RE” – to Zambia Reinsurance PLC. which is to be identified by the symbol “ZAMBIA RE” from now on.

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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