Story of the Day:
For more than a year, COVID-19 has wreaked havoc around the world and connectivity has become more crucial than ever. The ICT sector heroically rose to the challenge, working around the clock to create innovative solutions so that people could continue to connect, earn, learn and access healthcare, whilst maintaining a ‘safe’ social distance. Mark Townsend, CEO of Liquid Intelligent Technologies Zambia, shares his perspectives on the role ICT has played in aiding recovery. Read more
Local Business and Finance Sponsored By Liquid Intelligent Technologies
The Bank of Zambia (BOZ) has dispelled reports circulating on some social media platforms suggesting that Bank of Zambia Governor Mr Christopher Mvunga has resigned. The Bank’s Communication Division has implored members of the public to treat the reports as false and unfounded. Read more: Zambia Reports
A solar power plant will soon be built in the Serenje district. The promise is made by Ultra Green Corporation Zambia. The subsidiary of the American company Ultra Green Corporation is even already in the construction phase of its project and plans to launch the work in the Central Province during September 2021. Read more: Afrik21
Fastjet, Africa’s low cost airline, is pleased to announce that it has signed an agreement with Lusaka-based regional airline Proflight Zambia, enabling passengers of both airlines to travel easily between 15 destinations across Zambia, Malawi and Tanzania served by the two carriers. This alliance not only will see both airlines expand in reach but also establish Lusaka as a regional aviation hub. Read more: Africa Outlook
Castillo Copper Limited (CCZ) has announced the appointment of Geophex Surveys (GS), an experienced geophysical consultancy firm, to under-take comprehensive induced polarisation (IP) surveys across the Luanshya and Mkushi Projects which are located within Zambia’s copper-belt. Read more: Global Mining Review
International Business and Finance
The Ghana Stock Exchange (GSE) is the best performing stock market on the African continent in the first half of the year. After a poor performance in 2020, the GSE recorded a staggering 36.13% in dollar terms for investors in the first half of 2021. Read more: Business Insider
The World Bank and the International Monetary Fund announced that Sudan has met the initial criteria for over $50 billion in foreign debt relief, another step for the East African nation to rejoin the international community after nearly three decades of isolation. Read more: CGTN
Tech giant Samsung Electronics has said it expects its quarterly profit to rise by 53% amid a global chip shortage. The world’s biggest memory-chip and smartphone maker forecast operating profit of $11bn for the three months to the end of June. Read more: BBC News
China spent months clipping the wings of some of its tech champions over concerns that they were crowding out the competition. Now Beijing is seizing on data privacy as the next step in a sweeping campaign that threatens to cut companies off from global investment. Read more: CNN
Capital Markets Report Sponsored By ZCCM-IH
In 38 trades recorded last Thursday, 3,690,467 shares were transacted resulting in a turnover of K4,276,017. A share price gain was recorded in PUMA of K0.01. A share price loss was recorded in Real Estate Investments Zambia of K0.12. Trading activity was also recorded in British American Tobacco Zambia, Lafarge, ZCCM, ZAMEFA, Zanaco and Zambia Sugar. The LuSE All Share index (LASI) closed at 4,611.38 points, 0.01% down from its previous close of 4,611.79 points. The market closed on a capitalization of K60,333,186,940 including Shoprite Holdings and K26,088,546,165 excluding Shoprite Holdings.
Chart of the Day: