Story of the Day:
In the fourth week into the month of August 2021 bond trading, yet another full week of no trades there have not been trades recorded throughout the month of August for four consecutive weeks. Leaving the equities market to completely dominate the bond market. Read more
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Zambian President Hakainde Hichilema took to Twitter on Thursday to assure creditors that they’ll be paid, having warned in an interview with Bloomberg this week that the southern African nation’s debt burden is bigger than previously thought. The country’s bonds rallied. Read more: Bloomberg
The Zambia Revenue Authority – ZRA has exceeded its annual revenue collection target by K80 Million, 4 months before the end of the year. The revenue target for the year 2021 was K59.3 billion but the authority has collected K59.4 billion. ZRA has also refunded K7.8 billion mainly to the mining sector. Read more: ZNBC
The Pensions and Insurance Authority says has challenged insurance companies to make insurance relevant to an average consumer through innovative and interactive platforms. Authority acting registrar Namakau Ntini says solutions such as digital platform innovations could help to promote financial inclusion. Read more: ZNBC
International Business and Finance
China has announced plans to set up a third stock exchange to serve small and medium-sized businesses. President Xi Jinping said the new share market will be in the capital Beijing, during a speech to the International Fair for Trade in Services. The move comes as Chinese companies are coming under intense pressure at home and in the US. Read more: BBC News
WhatsApp has been fined €225m by Ireland’s data watchdog for breaching privacy regulations. It is the largest fine ever from the Irish Data Protection Commission, and the second-highest under EU GDPR rules. Read more: BBC News
According to a new report by Liquid Intelligent Technologies, over 90% of IT decision makers across South Africa, Kenya and Zimbabwe have accelerated their Cyber Security due to the substantial emergence of digital ways of working. A critical insight from the report revealed that 79% of businesses from South Africa, Kenya and Zimbabwe attribute an increase in Cyber Security threats to the advent of remote working. Read more: Business Insider
Alibaba is pouring 100 billion yuan ($15.5 billion) into China’s drive to achieve “common prosperity,” marking the latest big pledge from a Chinese company to support President Xi Jinping’s campaign. The tech giant announced Friday that it would invest the staggering sum by 2025 with an eye on five priorities: innovation in technology, economic development, the creation of “high-quality employment,” supporting vulnerable communities, and setting up a special development fund. Read more: CNN
Capital Markets Report Sponsored By ZCCM-IH
In 35 trades recorded yesterday, 194,753 shares were transacted resulting in a turnover of K274,893. A share price gain of K0.01 was recorded in Zanaco. Trading was also recorded in Copperbelt Energy Corporation, Lafarge, PUMA, Standard Chartered Zambia and in Copperbelt Energy Corporation on the quoted tier. The LuSE All Share Index (LASI) closed at 4,800.00 points, 0.07% up from its previous close of 4,796.69 points. The market closed on a capitalization of K61,687,692,496 including Shoprite Holdings and K 26,905,007,056 excluding Shoprite Holdings.
Chart of the Day: