Daily FiZ – 04/04

Story of the Day:

The shareholders of Chilanga Cement Plc are referred to the Cautionary Announcement dated 04 March 2022 wherein the Company published the salient dates and terms of the Mandatory Offer from Huaxin Investment Co., Ltd. The Offer was scheduled to open on Thursday, 24th March 2022 and close on Thursday, 14th April 2022 as per the announcement of the terms of the offer dated 4 March 2022. However, due to the unexpected delay in finalizing the fairness opinion by the Independent Financial Adviser (“IFA”), the Circular and the Offer Document have not been completed and were not ready for posting to the shareholders on 24th March 2022. Read more 

Local Business and Finance Sponsored By Liquid Intelligent Technologies

Egypt’s Minister of Agriculture Mr. Al-Sayed El-Quseir met with the Zambian Ambassador to Egypt H.S. Topply M Lubaya, and his accompanying delegation, to discuss enhancing agricultural cooperation between the two countries. The two officials met to follow up on the collaboration in the fields of fish farming, livestock, as well as modern irrigation systems  highlighted in the comprehensive African strategic partnership announced by President Abdel Fattah El Sisi, according to the ministry of agriculture. Read more: SEE

Zambia and Zimbabwe have agreed to establish a common agriculture industrial park to help the two countries benefit from opportunities to be presented by the African Continental Free Trade Area (AfCFTA). Read more: Zambia Daily Mail 

Energy Regulation Board Chairperson Reynolds Bowa says with the ongoing war between Russia and Ukraine, it is hard to predict when exactly the country might begin to experience stabilised fuel prices. Read more: News Diggers 

The Bank of Zambia (BoZ) in collaboration with the Zambia Information and Communication Technology Authority (ZICTA), have intensified awareness programmes to curb fraud activities in the country. Read more: Lusaka Times 

International Business and Finance 
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The Ukraine war has led the World Trade Organization (WTO) to cut its global trade growth forecast for this year. The previous 4.7% growth forecast has been cut to 2.5% due to “the impact of the war and related policies”, said WTO boss Dr Ngozi Okonjo-Iweala. The cut is also linked to continuing global supply chain problems that started as a result of the pandemic. Read more: BBC News 

Sanctions leveled on Russia have pushed the country toward becoming a closed economy, a status the country is ill-equipped to handle, a senior Treasury official said on Friday. “The economic consequences Russia is facing are severe: high inflation that will only get higher, and deep recession that will only get deeper,” the official told reporters during a conference call. Read more: CNN 

Tesla says it delivered a record number of its cars in the first quarter, despite supply chain challenges. The electric carmaker says it delivered more than 310,000 vehicles in the first three months of this year. That was almost 70% higher than for the same time last year. Read more: BBC News 

U.S. stock index futures were flat during overnight trading Sunday, after the S&P 500 posted a third straight week of gains. Futures contracts tied to the Dow Jones Industrial Average slid 14 points. S&P 500 futures were flat, while Nasdaq 100 futures declined 0.14%. Stocks advanced on Friday — the first day of the second quarter — with the Dow and S&P gaining 0.4% and 0.34%, respectively. The Nasdaq Composite added 0.29% and also finished the week in the green. Read more: CNBC

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In 38 trades recorded on Friday, 471,427 shares were transacted resulting in a turnover of 641,200. A share price gain was recorded in CEC Africa of K0.01. Trading activity was also recorded in Bata, Copperbelt Energy Corporation, Chilanga Cement, National Breweries, Standard Chartered Zambia, Zambeef, Zambeef and Zanaco. The LuSE All Share Index (LASI) closed at 6,847.50 points. The market closed on a capitalization of K70,620,505,530 including Shoprite Holdings and K35,837,820,090 excluding Shoprite Holdings.

For any feedback on the stories captured on the Daily FiZ, email Natasha on dailyfiz@fizambia.com
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