Story of the Day:
Further to the cautionary announcements dated 25 November 2020 and 23 June 2021, the Board of ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company” or “the Board”) hereby wishes to inform shareholders and the market that arbitration proceedings against ZCCM-IH and Kansanshi Mining Plc (“KMP”) by Kansanshi Holdings Limited (“KHL”) are yet to be disposed of. Read more
Local Business and Finance Sponsored By Liquid Intelligent Technologies
The government of Finland has engaged African Management Services Company (AMSCO) to build the technical and financial capacity of selected Zambian small and medium-sized enterprises (SMEs) that will receive €30,000 each to boost their respective businesses. Read more: Zambia Daily Mail
The auction of government bonds was heavily oversubscribed to K4.076 billion yet the Bank of Zambia (BoZ) was only looking for K1.5 billion from the market. And Zanaco Plc said the Kwacha will continue to face headwinds and getting weakened following the increasing demand for United States (US) dollars from Christmas festivity importers who have remained on a solid path. Read more: Zambia Daily Mail
Transport and Logistics Minister Frank Tayali says Zambia is poised to be a manufacturing and distribution centre in the sub-region following the re-launch of Zambia Airways. Mr. Tayali says this is why government has committed to supporting growth of the aviation sector as it has huge potential to contribute to the country’s economic development. Read more: ZNBC
The Association of Mine Suppliers and Contractors has appealed to government to renegotiate the US$1.5 billion debt that Mopani Copper Mines Plc owes Glencore stating that the amount is questionable as there is not much to show for that investment. Read more: Zambian Business Times
International Business and Finance
Africa’s Internet economy has the potential to reach 5.2% of the continent’s gross domestic product (GDP) by 2025, contributing nearly $180 billion to its economy, according to a new report from Google and the International Finance Corporation (IFC). Read more: Business Insider
In October 2021, Nigeria became the very first country in Africa to launch a digital currency called the eNaira. Barely two months later, Tanzania is following in the same footsteps. Read more: Business Insider
The US economy is in a strong position, President Joe Biden has said, thanks to action taken by the government to free up supply chain blockages and tackle the rising cost of living. He predicted that prices, which have been rising sharply, would ease. The president said policies to tackle bottlenecks at ports and lower the price of fuel were working. Read more: BBC News
The European Union has unveiled its €300 billion ($340 billion) alternativeto China’s Belt and Road initiative — an investment program the bloc claims will create “links, not dependencies.” Read more: CNN
Capital Markets Report Sponsored By ZCCM-IH
In 80 trades recorded yesterday, 320,286 shares were transacted resulting in a turnover of K327,631.84. Trading activity was recorded in AECI, Copperbelt Energy Corporation, Real Estate Investments Zambia, Standard Chartered Zambia, ZAFFICO, Zambeef and Zanaco. The LuSE All Share Index (LASI) remained at 5,356.41 with a percentage change of 0.07.
Chart of the Day:
