Daily FiZ – Thursday 13/01

Story of the Day

Unicorn financial technology company, OPay Global, has appointed James Chona as its Chief Executive Officer for their Zambia operation. According to James’ LinkedIn profile, until recently, he was Airtel Money Country Director where he had served for 3 years. He joins Opay which has in less than three years, gone from a curious startup known for its motorcycles in Lagos, Nigeria, to a financial services company worth $2 billion. Read more

Local Business and Finance Sponsored By Liquid Intelligent Technologies

The Lusaka Chamber of Commerce and Industry says there is need to build a long term mechanism for economic trade cooperation between China and Zambia. Chamber President, Alexander Lawrence says it is important to have an independent market that will promote trade for both local and international businesses. Read more: ZNBC

Northern Province Permanent Secretary Bernard Mpundu says the government is keen on broadening digital knowledge as one of the components of growing the economy. Mr. Mpundu says digital transformation will enable the country to accelerate progress towards the attainment of the 2030 Vision of becoming a prosperous middle income country. Read more: ZNBC

President Hakainde Hichilema will grace the Zambian National Day on January 20, 2022 at the ongoing Expo 2020 Dubai. On the sidelines of the national day, the country is scheduled to hold a trade and business Forum under the theme doing business in Zambia whose objective is to showcase trade and investment opportunities. Read more: Lusaka Times

The Chingola and Chililabombwe Chamber of Commerce have called on government for a win win situation when it comes to doing business with Government and the mining industry. Speaking on behalf of the two Chambers, Chingola Chamber of Commerce President Freddie Musonda said that they are coming from a situation where speaking on a critical developmental issue was in hushed tones for fear repercussion from non-comprehending parties. Read more: The Independent Observer

International Business and Finance

Zimbabwe managed to significantly cut its trade deficit towards the end of 2021 after it registered an increase in the value of its exports and a decrease in the value of its imports. According to the Zimbabwe National Statistical Agency, the trade deficit went down from 177 million in October to 36 million U.S. dollars in November on the back of a 20.93 percent rise in exports and a 4.07 percent decrease in imports. Read more: CGTN

Prices in the US are rising at their fastest rate in almost 40 years, with inflation up 7% year-on-year in December. Strong demand and scarce supply for key items such as cars are driving the increases, which are putting pressure on policymakers to act. The US central bank is expected to raise interest rates this year. Read more: BBC News

Trade negotiations with India are not for the faint-hearted. But with no progress on a free trade deal with the United States, and none expected in the foreseeable future, the formal start of talks with India, being announced in New Delhi on Thursday, is the biggest negotiation the UK government will launch this year. Read more: BBC News

U.S. stock futures were steady in overnight trading on Wednesday after the Nasdaq Composite rose for the third session despite a red-hot consumer price index report. Dow futures rose just 20 points. S&P 500 futures gained 0.05% and Nasdaq 100 futures rose 0.04%. Read more: CNBC

Capital Markets Report Sponsored By ZCCM-IH

In 141 trades recorded yesterday, 33,083 shares were transacted resulting in a turnover of K 132,252.A share price Increase of K0.02 was recorded in Zanaco. Trading activity was recorded in AECI, Copperbelt Energy Corporation, CHIL ,Standard Chartered Bank Limited, ZCCM, Zanaco and ZAFFICO. The LuSE All Share Index (LASI)  closed at 6,264.98 points, 0.11% up from its previous close of 6,258.36 points. The market closed on a capitalization of K68,078,667,787 including Shoprite Holdings and K33,295,982,347 excluding Shoprite Holdings.

For any feedback on the stories captured on the Daily FiZ, email Natasha on dailyfiz@fizambia.com

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