Story of the Day:
Zambia’s mining sector has faced significant challenges over the last decade due in part to fluctuating commodity prices, unstable taxes and most recently, the outbreak of COVID-19. Despite the many obstacles in the sector however, the country’s biggest mine and taxpayer – First Quantum Minerals (FQM) – has managed to not only remain viable but also increase production. Read more
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The Zambian government on Friday signed a memorandum of understanding with the Sustainable Development Goals Center for Africa (SDGC/A) aimed at strengthening collaboration in the implementation of the United Nations (UN) Sustainable Development Goals (SDGs). Read more: Big News Network
Government in partnership with cooperating partners has launched a programme aimed at enhancing skills in the renewable energy and energy efficiency sector over a three-year period. The Skills for Energy in Southern Africa project (SESA) which is a private sector-driven initiative will see the retraining of over 1600 experts in renewable energies across the sub region. Read more: ZNBC
The Energy Regulation Board (ERB) has extended the cost of Service Study for the Electricity Sub-sector, to August 27, 2021 to allow for smooth completion of the study. Read more: ZNBC
The Zambia International Mining and Energy Conference and Exhibition-ZIMEC 2021 edition has been scheduled to take place from May 4-5 2021. The Zambian leading mining and energy meeting, which has been taking place for the last decade, will celebrate its 10thanniversary with a virtual edition. Read more: Zambian Business Times
International Business and Finance
The world’s biggest online retailer – China’s Alibaba – has been hit with a record fine equivalent to $2.75bn. Regulators in China said the internet giant had abused its dominant market position for several years. Read more: BBC News
Despite what he sees as a rapidly recovering economy, Federal Reserve Chairman Jerome Powell on Sunday reaffirmed the central bank’s commitment to keep loose monetary policy on place. Read more: CNBC
The International Monetary Fund has revised its growth forecast upward for the Middle East and North Africa region, as countries recover from the coronavirus crisis that began in 2020. Real GDP in the MENA region is now expected to grow 4% in 2021, up from the fund’s October projection of 3.2%. Read more: CNBC
The International Monetary Fund and World Bank should do more to help address the growing debt challenges of middle-income countries and identify the “root causes of excessive and unsustainable debt,” the institutions’ Development Committee said on Friday. Read more: CGTN
Capital Markets Report Sponsored By ZCCM-IH
In 32 trades recorded on Friday, 18,600 shares were transacted resulting in a turnover of K22,255. A share price gain of K0,01 was recorded in Copperbelt Energy Corporation. Trading activity was also recorded in Zanaco. The LuSE All Share Index (LASI) closed at 4,025.25 points, 0.09% up from its previous close of 4,021.53 points. The market closed on a capitalization of K57,857,088,385 including Shoprite Holdings and K23,612,447,611 excluding Shoprite Holdings.
Chart of the Day:
