Daily FiZ – Friday 21/01

Story of the Day

Aljoša Asanović has been named the new Head of the Zambia Football National Team. The 2012 Africa Cup of Nations Winners chose not to renew former Nkana Rangers boss Beston Chambeshi’s contract last month after the team failed to qualify for both the World Cup and Afcon tournaments being held this year. This will be the first full time managerial position following more than 20 years of technical roles around Europe and 6 months as Technical Director with the national team. Read more

Local Business and Finance Sponsored By Liquid Intelligent Technologies

African Pioneer PLC said Thursday that it has entered into an option agreement with First Quantum Minerals Ltd. in relation to four of its copper exploration licenses in Zambia. As part of the deal, First Quantum has the right to undertake exploration across African Pioneer’s licenses. If the exploration is successful, First Quantum may earn a shareholding of up to 75% in African Pioneer Zambia, subsidiary of African Pioneer and the holder of the licenses. Read more: Market Watch

The government says it will give out 50 fuel tankers under the youth empowerment programme. Youth, Sport and Arts Minister Elvis Nkandu says each province will receive 5 fuel tankers. Mr. Nkandu says the government has bought 50 fuel tankers to be given to youth cooperatives countrywide. He says the fuel tankers are meant to create employment for the young people and uplift their living standards. Read more: ZNBC

Commerce Minister, Chipoka Mulenga says Zambia is the best destination for investors in the world. Mr. Mulenga says this is because government has put in place a regulatory and legal framework that makes investment thrive. He was speaking at a press briefing hosted during the Zambia National Day at the Expo 2020 Dubai. And Agriculture Minister, Mtolo Phiri appealed to investors to come to Zambia and explore opportunities in the agriculture sector. Read more: ZNBC

The World Bank Group says around US$35 billion in bilateral and private debt-service payments will be due this year on the public and publicly guaranteed debt of the International Development Association (IDA) countries such as Zambia. Read more: Times of Zambia

International Business and Finance

Online retail giant Amazon could pull out of a deal to create its Africa headquarters in Cape Town, South Africa if a legal challenge by indigenous activists is allowed to proceed, a Cape Town court heard Thursday. Read more: CGTN

Sony Group will likely add new technology partners to its electric vehicle (EV) project to help it forge a mobility business to transform cars from transportation machines to entertainment spaces, a Sony executive told Reuters. Read more: Reuters

Germany’s new coalition government wants to attract 400,000 qualified workers from abroad each year to tackle both a demographic imbalance and labour shortages in key sectors that risk undermining the recovery from the coronavirus pandemic. Read more: Reuters

The rebound just wasn’t meant to be. After rallying for much of the day, Wall Street’s major indexes dropped into negative territory in the afternoon. The S&P 500 closed 1.1% lower, while the Dow dropped 0.9%, or 313 points. Read more: CNN

Capital Markets Report Sponsored By ZCCM-IH

In 24 trades recorded yesterday, 27,558 shares were transacted resulting in a turnover of K73,510. A share price loss of K0.42 was recorded in Zanaco. Trading activity was also recorded in Airtel, British American Tobacco Zambia, Copperbelt Energy Corporation, CHIL, Standard Chartered Zambia, Zambeef, ZAMEFA, and Zambia Sugar. The LuSE All Share Index (LASI) closed at 6,143.69 points, 2.26% down from its previous close of 6,282.65 points. The market closed on a capitalization of K67,549,422,690 including Shoprite Holdings and K32,766,737,250 excluding Shoprite Holdings

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