Story of the Day:
Enygma Ventures is pleased to announce its latest investment into Feelgood Health, the leading go-to-one-stop natural health retailer and wholesaler, in South Africa. Read more
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The kwacha has been appreciating for four (4) straight days and now trading around K22.21 from K22.86 just last week. Economics Association of Zambia president Dr Lubinda Haabazoka has explained That is expected to appreciate further due to agricultural exports and an injection of $1.4bn through SDRS into our reserves. Read more: Zambia Reports
The Zambia Development Agency (ZDA) and an Italy-based business and trade promotion agency have signed a memorandum of understanding (MoU) to enhance trade between the two countries. The MoU was signed with Confindustria Assafrica and Mediterraneo, a private sector association supporting Italian companies interested in doing business in Africa and Middle East countries. Read more. Zambia Daily Mail
With Zambia and most countries rolling out the COVID-19 vaccines, the country could start witnessing tourist inflows, which could help to resuscitate the struggling tourism industry. Tourism is one of the sectors most affected by the COVID-19 pandemic, impacting economies, livelihoods, public services and opportunities, with the United Nations World Tourism Organisation (UNWTO) saying all parts of its vast chain have been affected. Read more: Zambia Daily Mail
Zambia on July 22 converged the Africanacity agenda with the nations entrepreneurial financing needs in a landmark memorandum. Absa Bank Zambia successfully inked a Memorandum of Understanding MoU with the Zambia Development Agenda – ZDA. This initiative targets to provide decently priced finance products to the Micro, Small and Medium Enterprise (MSME) client bracket of the Zambian economy. Read more: The Business Telegraph
International Business and Finance
Interest rates are primed to stay low in Europe for a very long time as central bankers add to the trillions they’ve already printed to stimulate the economy. The European Central Bank signaled that it would keep interest rates low for longer on Thursday following a change in its approach to prices that will allow policymakers to keep pouring on stimulus until they’re confident that inflation will get to 2% and stay there. Read more: CNN
Twitter’s second-quarter revenue jumped 74 per cent year-on-year to $1.19bn, surpassing consensus expectations of $1.06bn. It also estimated that third-quarter revenue would be between $1.22bn and $1.3bn, above current analyst estimates of $1.17bn, according to S&P Capital IQ. Read more: Financial Times
Germany’s Daimler said Thursday that its Mercedes-Benz brand would “be ready to go all electric at the end of the decade, where market conditions allow.” It’s the latest sign of how major automotive firms are gearing up for a future based around electric vehicles. Read more: CNBC
Angola has an estimated $14.7 billion in international reserves, covering roughly 11 months of imports, the country’s central bank chief said Wednesday. Read more: CGTN
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In 44 trades recorded yesterday, 1,096,383 shares were transacted resulting in a turnover of K1,409,642. Share price gains were recorded in CEC of K0.02 and in SHOP of K0.99. Trading activity was also recorded in Airtel, British American Tobacco Zambia, FARM PREF, Lafarge, Real Estate Investments Zambia, Standard Chartered Zambia and Zanaco. The LuSE All Share index (LASI) closed at 4,645.74 points, 0.16% up from its previous close of 4,638.29 points. The market closed on a capitalization of K61,016,163,986 including Shoprite Holdings and K26,233,478,546 excluding Shoprite Holdings.
Chart of the Day: