Story of the Day:
ZCCM-IH has a rich heritage in the Zambian mining sector which spans more than 100 years. Mining in the country was recorded to have begun with the discovery of copper at Kansanshi in 1899 and commenced commercial mining in 1908. This was followed by the lead and zinc discoveries in Kabwe in 1902 with commercial mining having started in 1906 and 1923 respectively. Read more
Local Business and Finance Sponsored By Liquid Telecom
The Common Market for Eastern and Southern Africa (COMESA) has launched a regional campaign to popularise a platform for women in business known as 50 Million African Women Speak (50MAWSP). The platform is an information and networking hub for women which provides a one-stop shop for them to start, grow and scale up their businesses and to access financial and non-financial services. Read more: Zambia Daily Mail
The Zambia Bureau of Standards (ZABS) has intensified the engagement of producers and other stakeholders on having their products meet required standards and are certified. ZABS Executive Director, Manuel Mutale said having high quality products will help the country move forward economically. Read more: Lusaka Times
Some Local oil marketing companies have commended President Edgar Lungu and the PF government for creating favourable incentives for the petroleum business to thrive amid covid-19. Read more: ZNBC
Parliamentary Caucus Committee on Conservation Chairperson Anthony Kasandwe says the signing of the Memorandum of Understanding between government and African Parks (AP) will bring development in Zambia and that it is a partnership aimed at improving tourism. Read more: ZNBC
International Business and Finance
Wall Street was in rally mode Monday — for the most part. Tech stocks and other momentum darlings — the so-called FAANG stocks — weren’t invited to the party. The Dow rose more than 300 points, or 1%, as investors cheered the Senate’s passage of a Covid-19 relief package that aims to bolster the US economy. The S&P 500, the broadest measure of Wall Street, fell about 0.5% though. Read more: CNN
Wells Fargo is the latest big bank to embrace ambitious lending goals to fight the climate crisis. The bank is setting a goal of net zero greenhouse gas emissions — including from the companies and projects it finances — by 2050. It’s a major step for Wells Fargo, which has long been a major backer of oil, natural gas and coal projects that climate activists warn threaten the planet. Read more: CNN
Zimbabwe’s mining sector is on course to attain a government target of hauling $12 billion worth of minerals by 2023, which is more than triple its currant value, state-run Herald newspaper reported Monday. Read more: CGTN
The United Nations Economic Commission for Africa (UNECA) has warned the COVID-19 pandemic could further exacerbate Africa’s extreme poverty as a total of 514 million Africans are projected to fall below the extreme poverty line in 2021, unless the impact of pandemic is contained. Read more: Ghana Web
Capital Markets Report Sponsored By ZCCM-IH
In 180 trades recorded on Friday, 2,808,551 shares were transacted resulting in a market turnover of K29,257,368. A share price gain was recorded in INVST of K3.00. Trading activity was also recorded in Copperbelt Energy Corporation, Zanaco and CEC Africa on the quoted tier. The LuSE All Share Index (LASI) closed at 3,970.90 points, 0.14% up from its previous close of 3,965.29 points. The market closed on a capitalization of K57,609,073,582 including Shoprite Holdings and K23,375,302,397 excluding Shoprite Holdings.
Chart of the Day: