Story of the Day:
Eric Mwenda is the author of the book ‘Be a Farmer, Be a Millionaire’ and the host of a show of the same name on ABN. He is also the creator of the ‘Tomato Growers Network – Zambia’, a community of over 51,000 farmers, where he regularly posts farming advice. Read more
Local Business and Finance Sponsored By Liquid Telecom
The International Monetary Fund has revealed that it is now studying the recently launched Zambia Economic Recovery Programme to see how it could help finance it. Read more: Lusaka Times
Indebted Zambia has appointed communication firm Highgate Advisory Ltd as it negotiates with creditors to restore its debt to sustainable levels, Secretary to the Treasury Fredson Yamba said. Highgate has been engaged for a period of six months at a cost of £333,403 ($452,962), Yamba said in a statement. Read more: Reuters
Zambia has become the latest country to ratify the Tripartite Free Trade Area, a release from the Common Market for Eastern and Southern Africa (COMESA) said on Friday. Read more: News Ghana
The Bank of Zambia sold K1.79 billion ($84.2million) worth of treasury bills in the debut sale of 2021 held on Thursday January 14. Given an appetite in excess of two yards in Kwacha terms, the Bank of Zambia (BOZ) was able to absorb 81.7% of demand given a market liquidity position of K1.3billion with maturities in the pipe line. Read more: The Business Telegraph
International Business and Finance Sponsored By Royal Zambian Airlines
China’s latest official figures have confirmed it was the only major economy to see growth in 2020. The world’s second-largest economy says it grew 2.3% last year, compared with the previous year, with the final quarter seeing growth of 6.5%. Read more: BBC News
The world’s airlines need another $70-$80bn of government support to get through the crisis caused by the coronavirus pandemic. That’s according to the head of the International Air Transport Association (IATA), which is the trade association for the world’s airlines. Read more: BBC News
The UK economy shrank 2.6% in November as an increase in coronavirus infections and fresh restrictions exacted a heavy toll, official figures have shown, putting the country on track for a double-dip recession. Read more: Business Insider
Kenya Airways often referred to as KQ, is expected to cut the salaries of its workers by up to 30% due to the effect of the Covid-19 pandemic on the airline. The management informed staff of the airline in a memo dated January 14, 2021, This is coming about 10 months after KQ initially slashed the salaries of top managers. Read more: Business Insider
Capital Markets Report Sponsored By ZCCM-IH
In 1 trade recorded on Friday, 31 shares were transacted yielding a market turnover of K34. Trading activity was recorded in Copperbelt Energy Corporation. The LuSE All Share Index (LASI) maintained its close at 3,912.33 points, as there were no share price movements. The market closed on a capitalization of K57,358,966,682 including Shoprite Holdings and K23,119,760,702 excluding Shoprite Holdings.
Chart of the Day: