Story of the Day:
Zambian Breweries’ water strategy is focused on working within our brewery network; engaging out-grower schemes, non-profit organisations, Central and local Government to ensure as much water as possible is conserved throughout our value chain. Read more
Local Business and Finance Sponsored By Liquid Telecom
According to the Zambia Statistics Agency release on March 25, inflation accelerated 60 points to 22.8%, a 61 month high last recorded in February 2016. Annual food inflation rate rose to 27.8% compared to 27.3% in the previous month while non-food inflation rose 17.0% from 16.2% in the previous month. Read more: ZNBC
President Edgar Lungu says his government is determined to ensure that local people benefit from mineral resources. President Lungu says the discovery of Gold in the country will require the country to learn best practices from those who have the mineral. He said this will allow the government to ensure that people benefit from their resource. Read more: ZNBC
ZISC Life PLC Managing Director Christabel Banda says financial literacy awareness is key to tapping into the uninsured population. Ms. Banda says tapping into the huge uninsured Zambian population will require robust and aggressive financial literacy that will leave no one behind as lack of awareness was the top barrier to the consumption of insurance in the country. Read more: ZNBC
Zambia Information and Communications Technology Authority (ZICTA) has awarded MTN Zambia radio frequency spectrum in the 800 Megahertz (MHz) frequency band at a cost of US$13.5 million. Read more: Daily Mail Zambia
International Business and Finance Sponsored By Royal Zambian Airlines
The US Federal Reserve will end its restrictions on bank dividends and buybacks for most institutions on June 30 as long as they pass the current round of stress tests, the central bank announced Thursday. Bank stocks were up, following the announcement. Read more: CNN
Myanmar Economic Corporation (MEC) and Myanmar Economic Holdings Ltd (MEHL) control significant portions of Myanmar’s economy. The US has added the two companies to a blacklist as part of sanctions, freezing any assets they have in the US and banning US individuals and businesses from trading with them. Read more: BBC News
Britain’s Financial Conduct Authority said on Wednesday it will not change its open stance on cross-border derivatives trading with the European Union, introduced following Brexit. The trade deal between Britain and the EU since Jan. 1 does not cover financial services. Read more: Reuters
Capital Markets Report Sponsored By ZCCM-IH
In 46 trades recorded yesterday, a volume of 84,903 shares were transacted resulting in a market turnover of K95,138. Trading activity was recorded in Copperbelt Energy Corporation and Zanaco. The LuSE All Share Index (LASI) maintained its close at 3,974.75 points. The market closed on a capitalization of K57,636,712,974 including Shoprite Holdings and K23,392,072,200 excluding Shoprite Holdings.
Chart of the Day:
