Story of the Day:
In the fourth week of corporate bond trading, bonds of total face value of K66,390,000 were transacted in 19 trades, yielding a market value sales of K44,676,000. Read more
Local Business and Finance News
With over K800million of cash flush markets into Friday 24 January debut fixed income sale for 2020, the Bank of Zambia were only able to raise K129million of the K300million on offer. Read more: The Business Telegraph
Tourism and Arts Minister Ronald Chitotela has described Zambia as a perfect destination for investment in the hospitality industry. Mr. Chitotela says Zambia particularly wants investors who can set up conference facilities of international standards in the country. Read more: ZNBC
Trade and Industry Permanent Secretary, Mushumwa Mulenga says Government will continue supporting initiatives aimed at marketing local brands through the use of Information Communication Technology -ICT’s. Read more: ZNBC
The appetite to sell Zambia in Germany is rising with key Zambian organizations showing interest in wanting to participate in the world’s leading travel trade show known here as ITB Berlin that opens its gates to the world in just over a months’ time. Read more: Lusaka Times
International Business and Finance News Sponsored By Royal Air Charters
The government is aiming to secure a “zero tariff, zero quota” free trade deal with the EU, Brexit Secretary Stephen Barclay has said. Read more: BBC News
US stock futures dropped sharply Sunday night as fears of the coronavirus grew. Read more: CNN
Financial technology start-up Currencycloud, which powers cross-border payments for a number of popular finance apps, has raised $80 million in a funding round backed by Visa. Based in the U.K., Currencycloud sells payment software for banks and fintech firms to process their international transactions. Read more: CNBC
The U.S. hopes to complete a new trade agreement with the U.K. by the end of this year, Treasury Secretary Steven Mnuchin said Saturday. Read more: Wall Street Journal
International Credit Ratings Agency, Moody’s has affirmed Ghana’s long-term issuer and senior unsecured bond ratings at B3 and revised Ghana’s economic outlook ratings from stable to positive. Read more: Business Insider
Eskom’s new group CEO, André de Ruyter, wants to slam the brakes on the process of unbundling Eskom. Read more: News 24
Crude prices fell more than 2% to multi-month lows on Monday as the rising number of cases of the new coronavirus in China and city lockdowns there deepened concerns over oil demand, even as Saudi Arabia’s energy minister sought to calm the market. Read more: Reuters
Capital Markets Report
In 43 trades recorded on Friday, 13,687 shares were transacted, yielding a market turnover of K11,472. A share price loss of K0.03 was recorded in Lafarge. Trading activity was also recorded in CEC Zambia and Zanaco. The LuSE All Share Index (LASI) closed at 4,253.76 points, 0.03% down from its previous close of 4,255.20 points. The market closed on a capitalization of K56,510,851,713 including Shoprite Holdings and K22,271,645,733 excluding Shoprite Holdings.
Chart of the Day:
