Story of the Day:
Zambeef’s Non-executive Director Frank Braeken has sold his ordinary shares in Zambeef Plc, according to a statement from the company. Zambeef, the fully integrated cold chain foods and retail business with operations in Zambia, Nigeria and Ghana, in July 2018 announced the appointment of Frank Braeken to its Board as a Non-Executive Director with immediate effect. Read more
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The Financial Intelligence Center (FIC) has reported that in 2020, the country lost about K3.1 billion through corruption, tax evasion, fraud, illegal mining and other vices, with corruption alone accounting for over K2.2 billion. Read more: News Diggers
Lafarge Zambia CEO Jimmy Khan is set to receive the prestigious Africa’s Most Respected CEO’s Award, to be conferred in Dubai this month. The awards recognise leadership, innovation and commitment to excellence by CEOs in different business sectors and are organised by The Business Executive Magazine, the leading magazine covering economics, business, finance, investment and socio-economic development in West Africa. Read more: Lusaka Times
International Finance Corporation (IFC) has appointed Carlos Katsuya senior manager for Angola, Botswana, Mozambique and Zambia. He will lead the corporation’s work across these countries. Katsuya, who will be based in Luanda, Angola, succeeds Hector Gomez Ang, who is taking up the role of IFC regional director in South Asia. Read more: Engineering News
Junior explorer Arc Minerals has started a diamond drill programme on its majority-controlled licences in north-western Zambia. Diamond drilling activities are under way at the Fwiji target area following further technical work and analysis from last year’s exploration drilling campaign. Read more: Mining Weekly
International Business and Finance
Sudan’s Finance Minister Jibril Ibrahim on Friday announced that his country has received relief from its 14.1 billion U.S. dollars debts to Paris Club. “Sudan’s remaining debts, which stand at 9.5 billion U.S. dollars, have been rescheduled until reaching the completion point in the Heavily Indebted Poor Countries (HIPC) Initiative, with suspension of debt service payments during this period,” said Ibrahim in a statement. Read more: CGTN
Ericsson recently unveiled two reports that, together, forecast the post-pandemic world and the future of 5G in Sub-Saharan Africa and around the world. Ericsson projects that 5G mobile subscriptions will exceed 580 million by the end of 2021, driven by an estimated one million new 5G mobile subscriptions every day. The forecast, confirms the expectation that 5G will become the fastest adopted mobile generation. Read more: Business Insider
Stock markets across the world have dropped on fears that increasing numbers of Covid cases will hamper economic recovery. In Asia, Japan’s Nikkei 225 index was down by around 1% in Tuesday’s trade to hit its lowest level in six months. In New York, the Dow Jones Industrial Average tumbled by more than 2%, while major indexes in the UK and mainland Europe also fell. Read more: BBC News
The United States and its foreign allies on Monday accused China of widespread malfeasance in cyberspace, including through a massive hack of Microsoft’s email system and other ransomware attacks, a dramatic escalation in the increasingly urgent attempt by the Biden administration to stave off further breaches. Read more: CNN
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In 28 trades recorded yesterday, 6,439 shares were transacted resulting in a turnover of K17,648. A share price loss was recorded in Lafarge of K0.01. Trading activity was also recorded in Airtel, Madison Financial Services, Pamodzi, Standard Chartered Zambia and Zanaco. The LuSE All Share index (LASI) closed at 4,638.29 points, 0.01% down from its previous close of 4,638.75 points. 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:
