Story of the Day:
Liquid Intelligent Technologies Zambia has become another economic stakeholder to partner with EAZ in the upcoming National Economic Summit that is to be held in Livingstone at Avani Hotel Resort on the 15th and 16th of July 2021. Read more
Local Business and Finance Sponsored By Liquid Intelligent Technologies
The International Monetary Fund wants Zambia to implement agreed policies before resuming talks on a long-awaited economic program that has held up debt-restructuring talks with external creditors. That’s dealt a blow to bondholders’ hopes for an agreement before general elections in August in the country that became Africa’s first pandemic-era sovereign default last year. Read more: Bloomberg
State owned pension fund in Africa’s second largest copper producer, Zambia, National Pension Scheme Authority – NAPSA has raised its shareholding in Zambia Industrial Commercial Bank – ZICB to 65.0% from an initial 15.83%. The equity stake then makes NAPSA majority stakeholder in the bank. Read more: The Business Telegraph
Commerce Minister Christopher Yaluma has called on Zambians to enhance the buying of local products as part of contributing to the country’s economic recovery. Mr. Yaluma says citizens, businesses and institutions should take pride in local products and think local by buying Proudly Zambian products and services. Read more: ZNBC
International Business and Finance
US inflation surged in April from a year earlier as the economic recovery picked up. Consumer prices jumped 4.2% in the 12 months through to April, up from 2.6% in March and marking the biggest increase since September 2008. Read more: BBC News
Africa has the highest percentage of entrepreneurs among working-age adults of any continent in the world according to a Tony Elumelu Foundation (TEF) report. Read more: Business Insider
African Export-Import Bank (Afreximbank) will be the first African organisation to host the Africa Business Day that will be held virtually on 25 June 2021. The event will once again take place under the patronage of the State Secretariat for Economic Affairs SECO. Read more: Business Insider
Capital Markets Report Sponsored By ZCCM-IH
In 29 trades recorded yesterday, 19,723 shares were transacted resulting in a turnover of K49,401. Trading activity was recorded in BATA, Copperbelt Energy Corporation, First Quantum Minerals, ZAMEFA and Zanaco. The LuSE All Share Index (LASI) maintained its close at 4,140.66 points, as there were no share price movements. The market closed on a capitalization of K58,232,069,546 including Shoprite Holdings and K23,987,428,771 excluding Shoprite Holdings.
Chart of the Day: