Daily FiZ – Friday 29/10
Economy

Story of the Day:

The new dawn government is not short on policies to implement in the health and nutrition sector of the nation. According to the ruling government (party manifesto on Health and Nutrition) which states that, development is not possible without a healthy population. Health is not only a social imperative but also an economic asset as a second pillar of human capital development. Read more 

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Zambia’s annual inflation for October has decreased to 21.1 percent from 22.1 percent recorded last month. Zambia Statistics Agency Acting Statistician General Mulenga Musepa has attributed the drop in inflation to price reductions in both food and non-food items. Mr. Musepa says food inflation decreased to 28.1 percent from 29.6 percent in September. Read more: ZNBC 

Technology and Science Minister Felix Mutati says the new dawn administration is poised to digitize most of its services as one of the measures to minimise wastage of resources. Mr. Mutati says the digitization of services enhances efficiency in service delivery. Meanwhile Mr. Mutati says the new dawn administration is set to boost the export of Information and Communication Technology -ICT- Applications. Read more: ZNBC 

The Bankers Association of Zambia (BAZ) says it is hopeful that the finance minister Situmbeko Musokotwane In 2022 national budget will focus on pronouncements that will concentrate towards growing the economy, stabilizing the macroeconomic environment and a general plan of how to manage the country’s debt situation. Read more: Zambian Business Times 

President Hakainde Hichilema says the new dawn government is committed to building strong partnerships with various stakeholders in the agriculture sector in order to transform the sector’s full potential. Read more: Lusaka Times

International Business and Finance

The Africa Regional Tobacco Industry Interference Index released Wednesday by the Africa Tobacco Control Alliance (ATCA) said that the Tobacco industry influences government policies in Nigeria, Zambia, and Tanzania. The ATCA report said of the 14 countries focused on, Zambia and Tanzania topped the list with the highest level of tobacco industry interference in almost all indicators. Read more: Business Insider 

Africa’s biggest e-commerce platform Jumia has published a new report, which leveraged data from the company’s platform to illustrate the importance of shopping online in a pandemic context. Titled “Jumia Africa e-Commerce Index 2021,” the report highlights the shift in consumer shopping habits across its markets in Africa last year as COVID-19 accelerated digital innovations in Africa. Read more: Business Insider 

Facebook has changed its corporate name to Meta as part of a major rebrand. The company said it would better “encompass” what it does, as it broadens its reach beyond social media into areas like virtual reality (VR). The change does not apply to its individual platforms, such as Facebook, Instagram and Whatsapp, only the parent company that owns them. Read more: BBC News 

US economic growth slowed sharply in the third quarter of the year, as the fast-spreading Delta variant of coronavirus dampened consumer spending. The economy expanded at an annualised rate of just 2% in the three months to September – down from 6.7% in the previous quarter. Read more: BBC News 

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In 32 trades recorded yesterday, 206,207 shares were transacted resulting in a turnover of K790,651.81. Trading activity was recorded in British American Tobacco Zambia, CEC Africa, Copperbelt Energy Corporation, Investrust, Zambia Reinsurance, Standard Chartered Limited Zambia, ZAMEFA, and ZAFFICO. The LuSE All Share Index (LASI) closed at 4,827.43.

Chart of the Day:

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

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