Daily FiZ – Friday 14/01
Economy

Story of the Day

In the final week of December 2021 bond trading, there were no bonds that recorded trades, Throughout the month only week one and two recorded trading activity on the bond market. Bonds are a low risk investment issued when the government borrows money from its people. You can purchase bonds using the Lusaka Securities Exchange Application online. Read more

Local Business and Finance Sponsored By Liquid Intelligent Technologies

Minister of Finance Dr. Situmbeko Musokotwane has extended the suspension of customs and excise duty on petroleum products. In a Statutory Instrument No.2 of 2022, dated 11th January 2022, the excise duty on petroleum and diesel remains suspended until 30th June 2022. Read more: Zambian Business Times

The Centre for Trade Policy and Development (CTPD) is recommending that government addresses the high cost of borrowing as negotiations for the Africa Continental Free Trade Area (AFCFTA) are drawing closer to a conclusion. Read more: Lusaka Times

The Ndola City Council has adopted the proposed K244 Million Budget for the year 2022 with K26 million allocated towards Public Health and Environmental Protection programmes. The budget has been forwarded to the Ministry of Local Government and Rural Development for approval. Read more: Lusaka Times

With continued increase in copper demand, about US$8 million has been set aside by Mukula Mine to develop an open-pit mine with associated copper processing facilities in Lufwanyama. Read more: Zambia Daily MailĀ 

International Business and Finance

Many African countries are pressured by high inflation rates, thus causing everything to become expensive. As of 2022, Zambia is the 6th most expensive African country to live in, followed by Nigeria. Read more: Business Insider

Fintech Farm, a British fintech company, creating neobanks in emerging markets, has raised a $7.4M investment to develop its new project. The company is going to launch neobanks in 8 countries during the next two years. Read more: Business Insider

Britain’s economy grew by a much stronger-than-expected 0.9% in November, finally taking it above its size just before the country went into its first COVID-19 lockdown, the Office for National Statistics said on Friday. The world’s fifth-biggest economy was 0.7% bigger than it was in February 2020, the ONS said. Read more: Reuters

China’s trade surplus with the United States was $39.23 billion in December and $396.58 billion for the whole of 2021, data from China’s General Administration of Customs showed on Friday. Read more: Reuters

U.S. stock futures rose during early morning trading on Friday, ahead of earnings from the major banks. Futures contracts tied to the Dow Jones Industrial Average advanced 88 points, or 0.24%. S&P 500 futures were up 0.28%, while Nasdaq 100 futures rose 0.38%. Read more: CNBC

Capital Markets Report Sponsored By ZCCM-IH

In 61 trades recorded yesterday, 25,329 shares were transacted resulting in a turnover of K 60,677.Trading activity was recorded in CEC Africa, Copperbelt Energy Corporation, CHIL, Standard Chartered Bank Limited, ZAMEFA and Zanaco. The LuSE All Share Index (LASI) maintain its close at 6264.98 points, as they were no share price movements. The market closed on a capitalization of K68,078,667,787 including Shoprite Holdings and K33,295,982,347 excluding Shoprite Holdings.

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

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