Daily FiZ – Thursday 22/07
Economy, Retail

Story of the Day:

Continuing Professional Development (CPD) is a term used to describe the learning activities professionals engage in to develop and enhance their abilities. This learning is often facilitated through trainings, forums, seminars, webinars, workshops and conferences. CPD aims to ensure that professionals are up-to-date with the technicalities of their fields and maintain proficiency throughout their careers. Read more 

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The International Monetary Fund (IMF) says programme discussions on an Extended Credit Facility requested by the Zambian authorities will be expected to continue once key policy measures have been undertaken. Read more: News Diggers 

To ease the burden on its civil service, the Public Sector Management Division – PSMD announced debt restructure initiatives that will easing the debt repayment burden of the public service at time when the cost of living continues to widen. Read more: The Business Telegraph 

United Bank for Africa (UBA) Zambia has pledged to continue supporting micro-small and medium entrepreneurs (MSMEs) with capacity building and financial training to enable them access funds from financial institutions to boost their businesses. Read more: Zambia Daily Mail 

FNB chief executive officer Bydon Longwe said that through its CashPlus agency banking model, about 3.8 million transactional volumes valued at K4.85 billion have been recorded. With over 280,000 monthly transactions valued at over K480 million currently being processed via the cashplus model on a monthly basis. Read more: Zambia Daily Mail 

International Business and Finance

Rating Agency Fitch Solutions has predicted that Ghana’s economy is expected to become the fastest growing in sub-Saharan Africa this year. The agency is projecting a 4.8% expansion in the economy, consistent with the International Monetary Fund, Moody’s and Standard Bank forecasts. The projection contrasts with the World Bank, which is forecasting a 1.4% Gross Domestic Product (GDP) growth rate. Read more: Business Insider 

Bitcoin has jumped past $30,000 as Elon Musk said Tesla is “most likely” to start accepting it as payment again. The electric carmaker said in May that it would no longer accept the cryptocurrency for purchases. It had cited concerns over the environmental impact of Bitcoin mining which uses huge amounts of electricity. Read more: BBC News 

European stocks are expected to open higher on Thursday, reflecting positive global momentum after a dour start to the trading week. London’s FTSE is seen opening 10 points higher at 7,013, Germany’s DAX up 36 points at 15,457, France’s CAC 40 up 23 points at 6,487 and Italy’s FTSE MIB 70 points higher at 24,718, according to IG. Read more: CNBC

A volatile environment for government bonds is reflecting a highly uncertain future for the U.S. economy, pointing to both slower growth and stubborn inflation. After a burst higher earlier this year that scared markets, Treasury yields have fallen back sharply as investors have switched their focus from worries about price increases to the potential that the rapid burst in post-pandemic activity could start to slow down. Read more: CNBC

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In 20 trades recorded yesterday, 4,812 shares were transacted resulting in a turnover of K10,577. Trading activity was recorded in Lafarge, SHOP and Zanaco. The LuSE All Share index (LASI) maintained its close at 4,638.29 points, as there were no share price movements. The market closed on a capitalization of K60,445,619,308 including Shoprite Holdings and K26,200,978,534 excluding Shoprite Holdings.

Chart of the Day:

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

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