Story of the Day:
Proflight Zambia and Johannesburg-based CemAir have implemented an interline and code share agreement streamlining travel between Zambia and South Africa. The agreement combines the two carriers’ extensive route networks between and within Zambia and South Africa, providing customers with a seamless travel experience. Certain flights will carry both airlines flight numbers. Read more
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ZESCO has revealed that it is owed in excess of K900 million through unpaid bills by some of its postpaid customers. ZESCO Public Relations Manager Hazel Zulu said the debt is negatively affecting the company’s drive towards the provision of efficient services. Read more: Lusaka Times
Zambia’s High Commissioner to India Judith Kapijimpanga says Zambia is one of the best investment destinations in Africa. Mrs. Kapijimpanga says investors should target Zambia’s energy, construction, tourism and agriculture sectors as priotised by President Edgar Lungu. She was speaking during a Virtual Conference organised by Bharat Chamber of Commerce – Kolkata and Zambia High Commission in India. Read more: ZNBC
Zambia Forestry and Forest Industries Corporation (ZAFFICO) has expanded its plantations footprint to four more provinces in Zambia to met the growing demand for timber and other wood products. The Corporation which recently become a public company by listing on the Lusaka Securities Exchange (LuSE) says its listing has significantly improved the profile for the corporation and enhanced its ability to raise capital in future. Read more: Zambian Business Times
Airtel Money has been awarded the World Customs Organisation – International Customs Day certificate of merit award and shield for rendering exceptional service to the international Customs community and for the ongoing support on domestic taxes during Covid-19 by the Zambia Revenue Authority (ZRA). Read more: Zambian Business Times
International Business and Finance
Zoom boss Eric Yuan, whose business exploded during the pandemic, says working from home is here to stay. The video conferencing company expects sales to rise more than 40% this year, reaching more than $3.7 billion. The forecast pushed shares in the company up more than 6% in after-hours trade in New York. Read more: BBC News
Kenyan and British parliamentarians are currently considering the ratification of a trade agreement that seeks to grant Kenyan goods unfettered access to the British market as part of new trade arrangements following the Brexit vote close to four years ago. Read more: Ghana Web
A major Chinese oil company that has traded on Wall Street for decades has become the latest casualty of tensions between Washington and Beijing. The New York Stock Exchange announced Friday that it will delist CNOOC, China’s third largest oil company and its largest offshore oil producer. Shares in the firm will stop trading from March 9. Read more: CNN
Covid-19 no longer seems to be the biggest concern on Wall Street as more people are getting vaccinated. Now, the focus is squarely on the bond market and inflation. Investors are starting to worry that the economy may heat up too much, and that inflation will make an unwelcome return. Read more: CNN
There were no trades recorded yesterday. The LuSE All Share Index (LASI) maintained its close at 3,983.90 points, as there were no share price movements. The market closed on a capitalization of K57,665,804,485 including Shoprite Holdings and K23,432,033,300 excluding Shoprite Holdings.
Chart of the Day:
