Story of the Day:
Leading Mobile Financial Services provider MTN Mobile Money and the Lusaka Securities Exchange (LuSE) have announced a partnership that will see customers trade on the local stock exchange using MTN Mobile Money. Read more
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Zambia will implement polices aimed at making its debt sustainable, its finance minister said on Wednesday, adding that talks with the International Monetary Fund had moved quickly since a new government took over in August. Read more: Nasdaq
Zambia’s mines minister said on Wednesday that the government had been reviewing the mining tax framework with key stakeholders to design a regime that would be stable, predictable and competitive. Read more: MSN
Mastercard has partnered with Zambian-based fintech company, Digital PayGo, to launch a new merchant mobile payments solution, which will enable Small and Medium Enterprises (SMEs) to safely make and receive digital payments through various online channels. Read more: Yahoo Finance
Energy Minister Peter Chibwe says his ministry will focus on creating an environment that will attract private investment in the provision of services and local manufacturing of energy products. Mr Chibwe says the promotion of the diversification of the energy mix should not be left to Government alone. Read more: ZNBC
International Business and Finance
The International Monetary Fund expects global economic growth in 2021 to fall slightly below its July forecast of 6%, IMF chief Kristalina Georgieva said on Tuesday, citing risks associated with debt, inflation and divergent economic trends in the wake of the COVID-19 pandemic. Read more: Reuters
During its first Google for Africa event which held on Wednesday, October 6, 2021, Google announced that it will invest $1 billion over a five-year period, in support of Africa’s digital transformation. Read more: Business Insider
Sub-Saharan Africa’s economy is expected to expand by 3.3 percent in 2021 after a contraction of 2 percent in 2020, the World Bank said on Wednesday. According to analysis in the Pulse, the World Bank’s twice-yearly economic update for the region, the economic recovery will be fueled by elevated commodity prices, relaxation of stringent measures as well as recovery in global trade. Read more: CGTN
Concern is rising on Wall Street over Washington’s debt ceiling game of chicken. Goldman Sachs warned clients on Wednesday that Congress may fail to raise or suspend the debt ceiling prior to the October 18 deadline. Read more: CNN
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In 3 trades recorded yesterday, 37,816 shares were transacted resulting in a turnover of K82,181.23. Trading activity was recorded in Airtel, Copperbelt Energy Corporation, Pamodzi, Lafarge, ZCCM and Standard Chartered Zambia. The LuSE All Share Index (LASI) remained at 4,978.43 points.
Chart of the Day:
