Daily FiZ – Tuesday 23/11
Economy

Story of the Day:

The transport and logistics sector has been highlighted as one of the key areas earmarked for growth under the UPND manifesto. The budget pronouncements made recently by the Minister of Finance Hon. Situmbeko Musokotwane, highlight a number of key areas of interest for the new administration. Read more 

Local Business and Finance Sponsored By Liquid Intelligent Technologies

The Long awaited national airline will officially commence operations on December 1, 2021. The Board of Directors for the Zambia Airways says the National airline will operate on domestic destinations from Livingstone to Ndola. The Board says the Airline will operate on a frequency of five to six times a week on the Ndola Livingstone route. Read more: ZNBC 

Shareholders of Zambia Sugar Plc will receive a collective dividend worth K76 million following the increased revenue from K3.3 billion in 2020 to K4.9 billion this year. And immediate, past country managing director Rebecca Katowa attributed the impressive financial performance to the maximum utilisation of the domestic market due to restricted imports amid coronavirus. Read more: Zambia Daily Mail 

Zambia and other African countries are in a good position to profit from the global movement towards decarbonisation because it is home to key battery minerals such as cobalt, copper, lithium and manganese. Read more: Zambia Daily Mail 

Government has set a target for Zambia to launch its own satellite atleast in the next two years in order for the country to have timely data to inform decision making. Technology and Science Minister Felix Mutati said this ambition will need to be backed by the development of a space science policy which should underpin the target to launch the satellite as a starting point. Read more: Lusaka Times 

International Business and Finance

Safaricom’s US$15.4bn market capitalisation accounts for 49% of the market capitalisation of the Top 30 companies in East Africa, making it the highest prized brand in the region. Read more: Business Insider 

Jerome Powell has been nominated for a second term as chair of the US Federal Reserve by President Joe Biden. Mr Powell is set to stay in the role, which includes managing inflation and regulating the financial system, for a further four years. He was initially appointed by former President Donald Trump and started his first term in 2018. Read more: BBC News 

The United Nations on Monday pushed for urgent action to prop up Afghanistan’s banks, warning that a spike in people who are unable to repay loans as well as lower deposits and a cash liquidity crunch could cause the financial system to collapse within months. Read more: CNN

Zoom Video Communications Inc’s third-quarter revenue growth rate slowed to 35% as demand for its video-conferencing tools eased from the pandemic-fueled heights last year, sending its shares down about 6% on Monday. Revenue was at $1.05 billion in the quarter ended Oct. 31, Zoom said, after rising 54% in the previous quarter and surging 360% a year earlier. Read more: Reuters 

Capital Markets Report Sponsored By ZCCM-IH

In 77 trades recorded on Friday, 195,012 shares were transacted resulting in a turnover of K394,967.99. Trading activity was recorded in, Bata, Copperbelt Energy Corporation, Lafarge, Standard Chartered Zambia, Zambeef, Zambia Breweries ZAMEFA. The LuSE All Share Index (LASI) remained at 5,440.89 with a percentage change of -0.11.

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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