Story of the Day
As Zambian Breweries our impact on the water resource is two-fold: we are an agro-processor so we rely on agriculture for our raw materials; and our product is made up of 90% – 95% water. Therefore, as Zambia’s largest brewer; we believe that we have a responsibility to lead industry water stewardship efforts across the country. We have set aggressive targets to protect water resources in our facilities, especially in high-risk watersheds, and throughout our agricultural supply chain. Read more
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German Ambassador to Zambia Anne Wagner-Mitchell says analysing and strategically addressing the root causes of Zambia’s debt, governance crisis and enduring poverty and inequality must be the starting point for the forthcoming 8th National Development Plan implementation. Read more: News Diggers
Mines and Minerals Development Minister Paul Kabuswe says government will soon issue an SI which will restrict the number of active mining rights one can hold at a given time, revealing that some people are owning more than 50 licenses. Read more: News Diggers
Mining giants Barrick Gold and First Quantum Minerals (FQM) are interested in investing in Mopani Copper Mines (MCM) and Konkola Copper Mines (KCM) on the Copperbelt. This has elated Government, which has welcomed the expression of interest and has pledged to see to it that bottlenecks to increased copper production in Zambia are addressed. Read more: Zambia Daily Mail
The Lusaka Securities Exchange (LuSE) has launched the LuSE Gem Portal, an innovative digital platform principally purposed to provide Small and Medium Enterprises (SMEs) with access to capital for investment into growing their businesses. LuSE Chairperson Kayula Siame said the Lusaka Securities Exchange in collaboration with its partners is pleased to introduce the portal, an initiative admitted to and currently testing under the capital markets regulatory sandbox framework. Speaking during the launch of the LuSE Gem Portal for SMEs, Siame said the portal digitally identifies, evaluates and enables the urgent provision of financing to qualifying SMEs. Read more: Zambian Business Times
International Business and Finance
Ethiopian Airlines appointed Mesfin Tassew as its new Chief Executive Officer (CEO). He replaces Tewolde Gebremariam, who resigned on Wednesday, after serving for 11 years. Gebremariam had cited poor health as a reason for his resignation. Read more: CGTN
Tesla is asking its shareholders for permission to split its stock for the second time in two years. This split would come in the form of a dividend, which would pay shareholders additional shares. Most dividends pay cash to investors. The electric car maker did not give details about how many shares investors would receive. Its previous split in August of 2020 gave shareholders five shares for every share they own. Read more: CNN
Saudi Arabia’s energy minister has said OPEC+ will keep politics out of its decision-making in favor of the “common good” of stabilizing energy prices. As governments and international bodies around the world shun Russia — a major oil exporter and partner of the intergovernmental organization of 13 major exporters — over its invasion of Ukraine, OPEC and its allied oil-producing nations have thus far refused to follow suit. Read more: CNBC
The pan-European Stoxx 600 climbed 0.8%, with travel and leisure stocks adding 1.9% to lead gains as all sectors and major bourses entered positive territory. The higher open in Europe comes as investors in the region remain focused on developments in Russia’s invasion of Ukraine. Face-to-face talks between the two sides are set to continue this week, with delegations from both countries traveling to Turkey as talks resume Tuesday. Read more: CNBC
Capital Markets Report Sponsored By ZCCM-IH
In 118 trades recorded yesterday, 101,160 shares were transacted resulting in a turnover of K371,111. Share price gains were recorded in Pamodzi of K0.09 and in ZAFFICO of K0.02. Share price losses were recorded in Copperbelt Energy Corporation of K0.02 and in Standard Chartered Zambia of K0.01. Trading activity was also recorded in AECI, First Quantum Minerals Zambia, Chilanga Cement, National Breweries, PUMA, Zambia Breweries, ZCCM, Zambeef, ZAMEFA and Zanaco. The LuSE All Share Index (LASI) closed at 6,842.81 points, 0.11% down from its previous close of 6,850.18 points. The market closed on a capitalization of K70,600,060,741 including Shoprite Holdings and K35,817,375,301 excluding Shoprite Holdings.