Story of the Day:
In the first week into the month of October 2021 bond trading, one day recorded trades throughout the week. 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
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Zambia Development Agency (ZDA) will lead 52 export-ready businesses and exporters to a trade mission in Lubumbashi, Democratic Republic of Congo (DRC), next week.
ZDA is working with the Finnish government-funded Accelerated Growth for Micro, Small and Medium Sized Enterprises in Zambia, Absa Bank Zambia Plc and the Federation des Enterprises du Congo. Read more: Zambia Daily Mail
Government is committed to addressing challenges facing the cement manufacturing sub-sector aimed at reducing prices of the commodity, Minister of Commerce and Trade Chipoka Mulenga has said. Read more: Zambia Daily Mail
Lumwana Mine in Kalumbila, North-Western Province is stuck with over 43,000 metric tonnes of Copper concentrates, due to lack of processing facilities. Company General Manager, Paul Gillot says the mine relies on Copperbelt-based smelting facilities, which are currently loaded and are failing to meet the local demand. Read more: ZNBC
Zambia is implementing an ambitious energy investment plan that would see the country increase its power generation capacity and expand its energy mix with renewable energy; the United Nations (UN) has been informed. Read more: Lusaka Times
International Business and Finance
The October edition of the World Bank Africa’s Pulse report said the continent (Sub-Saharan Africa to be exact) has emerged from recession, even though economic recovery is still ‘timid and fragile’. According to the report, the region’s economy is set to expand by 3.3% in 2021, 1% higher than earlier projected in the April 2021 edition of the Africa’s Pulse report. However, growth forecasts for 2022 and 2023 are below 4%, the report said. Read more: Business Insider
According to the Absa Africa Financial Markets Index, Nigeria, South Africa, Ghana topped list of Africa’s most attractive foreign investment destinations in 2021, with Mauritius and Uganda also being in the top five. Read more: Business Insider
China’s “factory gate” prices – a measure of what manufacturers charge wholesalers for products – grew at the fastest rate on record last month. The soaring costs of goods comes as Chinese companies face power cuts and surging commodity prices. China is the world’s biggest exporter and so price rises could affect other countries. Read more: BBC News
The ongoing supply chain crisis isn’t going to end anytime soon, according to a new survey of chief financial officers. The majority of the CFOs, who represent a wide range of businesses across multiple industries, expect the challenges to last “well into” 2022. They warned their companies are experiencing supply chain disruptions that have fuelled production and shipping delays as well an increase in materials prices. Read more: CNN
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In 9 trades recorded yesterday, 1,910 shares were transacted resulting in a turnover of K2,931.10. Trading activity was recorded in Standard Chartered Limited Zambia, Pamodzi, Zambia Sugar and ZAFFICO. The LuSE All Share Index (LASI) maintained its close at 4,996.08 points.
Chart of the Day: