Story of the Day:
Holders of First Quantum Minerals have been advised that the mining house will be terminating its depository notes agreement, according to a statement from the company. Read more
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Infrastructure, Housing, and Urban Development Minister Charles Milupi has said that Zambia and the Democratic Republic of the Congo (DRC) must strengthen economic and trade ties by Improving the road network connecting the two countries. Mr. Milupi said that the need to improve the road linkage between Zambia and the DRC will not only provide export routes for commodities but also provide effective communications between the two countries. Read more: Lusaka Times
Government says there is need to train more women in Science, Technology, Engineering and Mathematics (STEM) in order for them to take up leading positions in the technology and Science field in Zambia. Technology and Science Minister Felix Mutati says the number of women in the science and technology field is minimal globally hence the need for Zambia to be exemplary in training more women in the sector. Mr. Mutati explains that only 20% of all technology jobs are held by women and only about 26% of all computing jobs in the world are held by women. Read more: ZNBC
Zambia could see its first rate hike in the debut rate decision meeting of 2022 whose deliberation will commence on 14-15th February with the announcement to be made on Wednesday 16th February 2022. Read more: The Business Telegraph
ZESCO Limited is waiting for the Energy Regulation Board (ERB) to release findings of the cost of service study (COSS) report before submitting an application for new electricity tariffs. And senior manager – corporate affairs John Kunda said only two power generation units are fully operational and producing 300 megawatts (MW) out of 750MW at Kafue Gorge Lower Hydro Power Station in Chikankata, which was commissioned last July by former President Edgar Lungu. Read more: Zambia Daily Mail
International Business and Finance
The UK economy rebounded last year with growth of 7.5% despite falling back in December due to Omicron restrictions, official figures show. It was the fastest pace of growth since 1941, although it came after a dramatic 9.4% collapse in 2020 as the pandemic forced parts of the economy to shut. Read more: BBC News
The International Monetary Fund (IMF) has sent a warning to South Africa over the slow pace of economic recovery post-pandemic. It has pointed a finger at policy uncertainty, embattled power utility Eskom, and a wide range of other issues that pose a critical risk. IMF says the country’s economy is expected to grow by less than 2% this year. Read more: CGTN
A sharp rebound in economic activity strengthened Nigeria’s gross domestic product (GDP) growth in the third quarter of the year, but rising inflation could disrupt the recovery, according to a report by Financial Derivatives Company Limited (FDC). In its presentation, analysts at FDC revealed that Nigeria’s inflation rate would rise further in the first quarter of 2022 due to the exchange rate pass-through effect, high liquidity, higher energy cost, insecurity in parts of the country, the postponement of fuel subsidy removal, among others. Read more: Business Insider
Kristalina Georgieva, managing director of the International Monetary Fund, has said that interest rate hikes by the Federal Reserve could “throw cold water” on already weak economic recoveries in certain countries. Georgieva, speaking via videoconference at The Davos Agenda virtual event on Friday, said an increase in U.S. rates could have significant implications for countries with higher levels of dollar-denominated debt. Read more: CNBC
Capital Markets Report Sponsored By ZCCM-IH
In 15 trades recorded on Friday, 9,658 shares were transacted resulting in a turnover of K15,854. Trading activity was recorded in Airtel, Madison Financial Services, Zambia Reinsurance, PUMA and Zambeef. The LuSE All Share Index (LASI) maintained its close at closed at 6,434.39 points, as there were no share price movements. The market closed on a capitalization of K68,817,926,929 including Shoprite Holdings and K34,035,241,489 excluding Shoprite Holdings.
