Story of the Day:
Over the last week, CEO Mildred Mutesa and her Zambia National Building Society team have been engaging in a number of “meet and greet” meetings spreading the word about the society’s latest promotion “BWELA TIMANGE” which is set to run for 6 months. Read more
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Finance Minister Situmbeko Musokotwane says the 2022 national budget will ensure it addresses many of the promises made to the people of Zambia during the campaigns. Dr. Musokotwane says the UPND Administration’s budget will deal with free education and youth employment. Read more: Lusaka Times
Zambia’s currency, the Kwacha has continued to be vulnerable to the US dollar as it opened trading session on Monday at between K16.7960 and K16.4720 per US dollar, and has today Tuesday 28 September 2021 crossed back over the K17 per US dollar threshold at some bureaus in Lusaka. Read more: Zambian Business Times
Zamtel has embarked on a new franchise business model which will result in the opening of 250 service centres that will create 1,500 direct and indirect jobs during the construction phase, after which 500 direct sales jobs will be created. Read more: Zambia Daily Mail
Mines Minister Paul Kabuswe has encouraged Small Scale Miners and youths involved in mining to form cooperatives so that they benefit from the slag dumpsites. Mr. Kabuswe says once the cooperatives are formed, the ministry will present them with artisanal licenses and provide training so that they can effectively carry out operations. Read more: ZNBC
International Business and Finance
South African Rand Merchant Bank (RMB) has just released its list of top 10 investment attractive countries in Africa, aimed at investors targeting real assets in an economy or looking to expand businesses that rely on physical infrastructure. North Africa remains dominant, with Egypt ranking first as Africa’s leading investment destination, followed by Morocco. Read more: Business Insider
Dubai’s food and beverage (F&B) trade with Africa reached $13.9 billion during the 2015-2020 period. The analysis, which highlighted Dubai-Africa F&B bilateral trade trends by region, as well as the potential avenues for future cooperation, revealed that the value of food and beverage trade between Dubai and Africa hit a four-year high at US$2.4 billion in 2020. Read more: Business Insider
Everything is going wrong for one of the world’s most powerful figures. Jerome Powell’s chances of getting another four-year term as head of the Federal Reserve took a hit Tuesday after Senator Elizabeth Warren called him a “dangerous man” for being too soft on Wall Street banks. Read more: CNN
JPMorgan Chase CEO Jamie Dimon says America’s largest bank is once again preparing for a potential US default even though he expects Congress to avoid that “potentially catastrophic” event by lifting the debt ceiling. Treasury Secretary Janet Yellen told lawmakers Tuesday that the federal government will run out of cash and extraordinary measures by October 18, setting the stage for a potential default if Congress does not raise the debt limit before then. Read more: CNN
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In 51 trades recorded yesterday, 2,497,640 shares were transacted resulting in a turnover of K4,868,879.09. Trading activity was recorded in Puma, CEC Africa and Copperbelt Energy Corporation. The LuSE All Share Index (LASI) maintained its close at 4,951.40 points, with a percentage change of 0.53.