Four weeks into the month of May, trading on the Lusaka Stock Exchange. There was no trades recorded on the bond market, quite a mundane week leaving the equities market to completely dominate the capital market. In regards to the equities market Zanaco Plc recorded the highest turnover throughout the week.
Equity Market
In the week ended 27th May 2022, a total of 2,042,626 shares were transacted in 329 trades, yielding a market turnover of K4,600,062. Trading activity was recorded in AFRICA EXPLOSIVES CORPORATION LIMITED, BATA, BRITISH AMERICAN TOBACCO ZAMBIA, COPPERBELT ENERGY CORPORATION, CHILANGA CEMENT, INVESTRUST, PUMA, STANDARD CHARTERED ZAMBIA, ZAMBIAN BREWERIES, ZAMBIA CONSOLIDATED COPPER MINES, ZAMBIA FORESTRY CORPORATION, ZAMBEEF, ZAMBIA METAL FABRICATORS, ZAMBIA REINSURANCE, ZANACO, ZAMBIA SUGAR and CEC AFRICA on the quoted tier. The LuSE All Share Index (LASI) closed at 6,787.73 points. The market closed on a capitalization of K70,477,469,993 including Shoprite Holdings and K35,694,784,553 excluding Shoprite Holdings.
Bond Market
There were no bonds traded this week.
IMPORTANT ANNOUNCEMENTS
ZAMBIA NATIONAL COMMERCIAL BANK PLC
Pursuant to Section 3.59 of the Listing Requirements the Board of Directors of Zanaco Plc wishes to announce the appointment of Professor Oliver Saasa as director of the board effective 18th May 2022. Prof. Oliver Saasa is Professor of International Economic Relations and Managing Consultant/Proprietor of Premier Consult Limited in Lusaka. Prior to 2000, Prof. Saasa served for 12 years as the Director of the Institute of Economic and Social Research at the University of Zambia. A Rhodes Scholar, Prof. Saasa obtained his doctorate
in 1983 from Southampton University in the UK.
Cane supply for the period under review declined 4% compared to the previous period due to a reduction in yields both on the estate and out-growers. This fall in yields is mainly
attributable to poor climatic conditions and excessive rainfall experienced during the summer growing months. Total cane supplied for the 2021/22 season was 3.158 million tons
compared to 3.240 million tons in the 2020/21 season. The reduction in cane supply resulted in a corresponding 4% reduction in sugar production for the six month period which was 6,700 tons lower than the comparative period. For the complete 2021/22 season 390,206 tons of sugar was produced compared to 393,057 tons in the 2020/21 season