Story of the Day:
In the first full 5 day week of November, 16 companies had their securities traded on the Lusaka Securities and Exchange making it the first week in 2019 to have the highest number of securities being traded. Read more
Local Business and Finance
Zambia is committed to ensuring that debt is contained within sustainable levels through continued austerity measures, President Edgar Lungu said on Friday. Read more: Reuters
The African Development Bank (AfDB) has set $700 million aside for the private sector for diversification of the country’s economy. Read more: Lusaka Times
Finland has pledged her country’s continued investment in Zambia’s Agriculture and Forestry sectors. Read more: Lusaka Times
With maturities pushing liquidity over one and half yards (K1.5 billion) into Thursday 07 November, K950 million treasury bill sale, the Bank of Zambia successfully managed to raise K1,140 million. This is the fifth t-bill oversubscription of the year of 23 short term debt sales. Read more: The Business Telegraph
The National Road Fund Agency – NRFA has collected eight hundred and 66 million kwacha as at September 2019 from thirty toll stations dotted around the country. And the Agency is optimistic that it will beat the annual target of one billion kwacha for 2019. Read more: ZNBC
President Edgar Lungu says government will next week pay US$14 million for the importation of electricity from ESKOM in South Africa with the remaining to be paid soon. He disclosed that this is from the initial requirement to pay US$44 million of which US$10 million has already been paid. Read more: Zambian Business Times
International Business and Finance
Ambev SA said on Friday it has signed a deal with a private equity group to build a wind farm that will supply renewable energy to all of its beverage plants in Northeastern Brazil, as well as to its five Budweiser breweries across the country. Read more: Reuters
If African countries continue on their policy trajectories, 530 million Africans will still lack electricity in 2030, an International Energy Agency (IEA) study published on Friday said. It said bringing reliable electricity to all Africans would require annual investment of around $120 billion. Read more: Africa News
President Trump suggested on Friday that the United States and China may not complete a partial trade deal this year, raising fresh doubts about prospects for a commercial truce that once was expected to be signed next weekend. Read more: Washington Post
Morgan Stanley could face a €25million fine after allegations from French regulators that it manipulated European bond markets in an effort to avoid large losses on its trades. Read more: Financial Times
Technology giants such as Facebook and Apple, and other large multinationals, could soon face a global minimum level of corporate taxation under new proposals from the Organisation for Economic Co-operation and Development (OECD), even if they have successfully and legally shielded their profits in tax havens. Read more: Irish Times
As Saudi Aramco prepares for its long-awaited initial public offering this year, the world’s largest oil company has detailed the vast number of risks its business faces, including terrorism and climate change in its prospectus released over the weekend. Read more: CNBC
Iran has discovered a new oil field in the country’s south with more than 50 billion barrels of crude, its president said Sunday, a find that could boost the country’s proven reserves by a third as it struggles to sell energy abroad over U.S. sanctions. Read more: Los Angeles Times
Capital Markets Report
In 62 trades recorded on Friday, 635,291 shares were transacted, resulting in a market turnover of K1,573,874.77. A share price loss of K0.01 was recorded in CEC Zambia, Lafarge, Natbrew, Real Estate Investments Zambia, Standard Chartered Bank Limited, ZAMEFA, Zanaco and Zambia Sugar while Airtel and Madison Financial Services recorded a loss of K0.02 respectively. Trading activity was also recorded in AEL Zambian, Airtel, Bata, Copperbelt Energy Corporation, First Quantum Minerals Zambia, Lafarge, Madison Financial Services, Natbrew, Real Estate Investments, Standard Chartered Bank Limited, ZAMEFA, Zanaco and Zambia Sugar. The LuSE All Share Index (LASI) closed at 4,310.66 points down by 1.91% from its previous close of 4,312.57 points. The market closed on a capitalization of K56,698,375,131 including Shoprite Holdings and K22,459,169,151.35 excluding Shoprite Holdings.
Chart of the Day: