Story of the Day:
Three weeks into February 2022 on the Capital markets, yet another week of no bonds being traded. Since the beginning of the year there have not been bonds traded. The equities market recorded a score of 100% to 0% on the bond market. In comparison to this time last year we see the opposite as it was the bond market that recorded a 100% score. Read more
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Government wants strengthened bilateral relations between Zambia and the Democratic Republic of Congo (DRC) by enhancing trade through improved road network linking the two countries. Read more: Zambia Daily Mail
Dangote Cement has become the largest Zambian exporter of the commodity and other cement products to the Democratic Republic of Congo (DRC), Malawi, Rwanda and Zimbabwe. The firm, situated in Masaiti on the Copperbelt, has also taken pole position as the single highest manufacturing sector net contributor of tax in the country. Read more: Zambia Daily Mail
The country’s annual inflation for February 2022 has reduced to 14.2 percent from 15.1 percent recorded in January, 2022. Zambia Statistics Agency (ZAMSTATS) Interim Statistician-General Mulenga Musepa says the slowdown in annual inflation was mainly attributed to the easing in prices of some food and non-food items. Read more: Lusaka Times
Government has reaffirmed its commitment to restructure, reposition and redefine the role that trade plays in the development equation of the country. Ministry of Commerce, Trade and Industry Permanent Secretary Chawe Chuulu observed that this is in recognition that trade plays in reducing poverty and inequality that most countries are faced with. Read more: Lusaka Times
International Business and Finance
Real estate is a profitable sector in Sub-Saharan Africa due to the region’s fast-rising population and high demand for accommodation. Already, some investors are making a fortune by pushing up property/rent prices in several cities across the continent, thus making real estate ideal for potential new investors. Read more: Business Insider
Asian shares have edged higher on Friday, driven by a US rebound as more sanctions were announced against Russia for its actions in Ukraine. US President Joe Biden hit Russia with a wave of new measures, impeding its ability to do business in the world’s major currencies. Tokyo’s Nikkei 225 index opened 0.9% higher, while other indexes were also in the green. Read more: BBC News
US President Joe Biden said Thursday that the U.S. will introduce a new wave of sanctions against Russia in a broad effort to isolate Moscow from the global economy. The president said that the totality of the penalties will target trillions in assets and include restrictions against Russian banks including VTB Bank and Sberbank. Read more: CNBC
The Securities and Exchange Commission is investigating whether recent stock sales by Tesla CEO Elon Musk and his brother Kimbal Musk, who sits on Tesla’s board of directors, violated insider trading rules, the Wall Street Journal reported Thursday, citing people familiar with the matter. Shares of Tesla dipped momentarily on the news but recovered and were up more than 4% in afternoon trading. Read more: CNBC
Capital Markets Report Sponsored By ZCCM-IH
In 64 trades recorded yesterday, 1,238,882 shares were transacted resulting in a turnover of K17,751,375. Share price gains were recorded in First Quantum Minerals of K0.19 and in Zanaco of K0.03. Trading activity was also recorded in Copperbelt Energy Corporation, Chilanga Cement and Zambia Sugar. The LuSE All Share Index (LASI) closed at 6,419.57 points, 0.18% up from its previous close of 6,407.90 points. The market closed on a capitalization of K68,753,193,997 including Shoprite Holdings and K33,970,508,557 excluding Shoprite Holdings.
