Story of the Day
Three weeks into December 2021 bond trading, there was no trading activity during the week, after five consecutive weeks of recording trades. hoping for a turn around in the last weeks of the month. 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’s currency is on track for a world-beating year as investors bet on the new government’s chances of securing a bailout deal with the International Monetary Fund and negotiating a debt restructuring. The kwacha has advanced 27% against the dollar this year, largely on the back of optimism over the August election victory of Hakainde Hichilema. That’s the currency’s best annual performance since 2005, and only the Seychelles rupee has fared better this year. Both were among the three worst performers in 2020. Read more: Bloomberg
Zambia’s inflation rate fell to a 14-month low in December tempered by food-price growth. Consumer prices rose 16.4% from a year earlier, compared with 19.3% in November, Zambia’s interim statistician-general, Mulenga Musepa, told reporters Thursday in Lusaka, the capital. That’s the lowest level since October 2020. Read more: Bloomberg
Zambia on Tuesday launched a strategy and investment guide aimed at promoting domestic tourism. The launch of the Zambia Tourism Domestic Strategy and Investment Guide was aimed at implementing homegrown solutions to keep the sector afloat amid the COVID-19 pandemic that has disrupted international travels. Read more: China.org
Huaxin Cement says it has completed its acquisition of Lafarge Zambia and Lafarge Cement Malawi. In late December 2021 the Chinese cement producer completed the equity delivery conditions for Lafarge Cement Malawi. This follows a similar process for Lafarge Zambia in late November 2021 Read more: Global Cement
Minister of Finance and National Planning Dr Situmbeko Musokotwane has appointed six members to become part of the reconstituted Board of Directors of the Bank of Zambia. Those appointed include: Audit Specialist Sarah Tembo; Systems Specialist Professor Douglas Kunda; Lawyer Dr Patricia Shansonga-Kamanga; Economist Caesar Cheelo; Economist Pamela Bwalya; and Statistician Shebo Nalishebo. Read more: ZNBC
International Business and Finance
U.S. stock futures rose early Monday morning as Wall Street looked to start off 2022 on solid footing. Futures tied to the Dow Jones Industrial Average rose 104 points, or about 0.3%. Those for the S&P 500 advanced 0.32% and Nasdaq 100 gained about 0.4%. Read more: CNBC
Singapore’s economy grew slightly more than expected in the fourth quarter from a year earlier, preliminary data showed on Monday. The financial and transport hub saw an uneven recovery last year as countries around the world shifted their coronavirus strategies to living with the pandemic. Gross domestic product (GDP) expanded 5.9% in October-December on a year-on-year basis, the Ministry of Trade and Industry said in a statement. Read more: CNBC
Crisis-hit Chinese real estate giant Evergrande has suspended trade in its shares in Hong Kong as investors await news on its restructuring plan. The statement to the stock exchange did not give a reason for the trading halt. Evergrande has more than $300bn of debt and is scrambling to raise cash by selling assets and shares to repay suppliers and creditors. Read more: BBC News
Tesla bucked the industry-wide trend of reduced sales due to the shortage of computer chips and other parts, posting record sales in the fourth quarter, up 71% from a year earlier. The strong fourth quarter of 308,600 vehicles gave Tesla full-year sales of 936,000, up 87% from the 2020 total, and above the 900,000 mark that had been the target set by many analysts. Read more: CNN
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In 42 trades recorded on Friday, 24,480 shares were transacted resulting in a turnover of K 70,639. A share price gain was recorded in Lafarge 0f K0.23 and ZSUG of K1.30.Trading activity was recorded in Airtel, Copperbelt Energy Corporation, Investrust, Lafarge, PUMA, ZAMEFA and Zambia Sugar. The LuSE All Share Index (LASI) closed at 6,059.86 points,1.73% up from its previous close of 5,954.82 points. The market closed on a capitalization of K67,182,821,998 including Shoprite Holdings and K32,400,136,558 excluding Shoprite Holdings.
Chart of the Day
