Story of the Day:
AEL Zambia saw an increase in revenue by approximately 22% from K 655,052M in the prior year ended December 2019 to K 798,498M in the just ended financial year of December 2020. Read more
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The Angolan Government has offered land to 4 Zambian Agricultural Companies to invest in agribusinesses in that country. The visiting Angolan Minister of Agriculture, Livestock, Fisheries and Forestry Antonio Francisco de Assis says Angola would like to tap into Zambia’s experience in agriculture hence the offering of land to the Zambian companies. Read more: ZNBC
Government has reaffirmed its commitments towards ensuring mutual business-consumer relations that promotes both industrial and economic growth. Read more: Lusaka Times
The success of Zambia’s agriculture sector requires concerted effort from all stakeholders, Zambeef CEO Walter Roodt says. And that industry bodies and other stakeholders need to pull in the same direction in ensuring that the industry thrives and contributes significantly to Zambia’s economic transformation. Read more: Zambia Daily Mail
The Competition and Consumer Protection Commission (CCPC) is among organisations in three countries that will access the US$1 million African Development Bank (AfDB) grant for artificial intelligence-enabled systems. Read more: Zambia Daily Mail
International Business and Finance
President Joe Biden’s $1.9 trillion economic rescue is so massive that economists are marking up their growth forecasts for not just this year, but next as well. Goldman Sachs predicts the US economy will rebound sharply from the pandemic, registering China-like GDP growth of 7% in 2021. That would be the fastest pace for the United States since 1984 under Ronald Reagan. Read more: CNN
Former Starbucks executive Rosalind “Roz” Brewer assumed her new role as CEO of Walgreens on Monday, officially making her the only Black woman currently serving as the head of a Fortune 500 company and just the third in history to achieve the career milestone. Read more: CNN
Odds are high the Fed will move markets this week, no matter how hard it tries not to. Fed Chairman Jerome Powell is likely to be asked questions about the Fed’s low interest rate policies and asset purchases during his press briefing, following the Fed’s two-day meeting that concludes Wednesday. Read more: CNBC
Kenya’s National Treasury is considering tapping into the international capital markets with a fourth Eurobond issue in less than seven years to help pay off part of its debt obligations estimated at Ksh925 billion ($8.48 billion) in the next three months. Read more: Ghana Web
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In 17 trades recorded yesterday, 173,902 shares were transacted resulting in a market turnover of K182,984. A share price gain was recorded in Zanaco of K0.02, and in CEC Africa on the quoted tier of K0.01. Trading activity was also recorded in Copperbelt Energy Corporation, Investrust, Real Estate Investments Zambia, Standard Chartered Zambia and Zambeef. The LuSE All Share Index (LASI) closed at 3,955.65 points, 0.17% up from its previous close of 3,949.03 points. The market closed on a capitalization of K57,542,494,385 including Shoprite Holdings and K23,308,723,200 excluding Shoprite Holdings.
Chart of the Day: