Story of the Day:
The Zambian music industry has captured pop culture to levels never seen before in the country’s music industry and has raised the debate over the importance and significance of Copyright and Intellectual Property in a bustlingly lucrative industry. Unknown to many, the industry is regulated. This is because there are many stakeholders involved. One such stakeholder is the African Regional Intellectual Property Organization (ARIPO). Read more
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The central bank in Africa’s red metal producer Zambia, has increased bidding thresholds for competitive and non competitive bids according to a press release on its website dated September 07. The minimum amount for competitive bids has been scaled to K500,000 (face value) from K30,000 per bigger per maturity tenor. Read more: The Business Telegraph
The delay in appointing a new Agriculture Minister by President Hakainde Hichilema risks forex inflows and halting mealie meal exports for at least two months after the previous deal hatched with government expired at end of August 2021. Read more. Zambian Business Times
Centre for Trade Policy and Development -CTPD- says the UPND Administration should put in place a tax regime that will be acceptable to government and investors in the mining sector. Read more: ZNBC
The Manufacturing Association of Zambia (ZAM) has attributed the slow growth of the manufacturing sector in the country to the previous government’s excessive borrowing. ZAM President Ezekiel Sakala, says the previous government has been borrowing unnecessarily thereby, limiting and affecting the growth of the private sector. Read more: Lusaka Times
International Business and Finance
The Swiss Investment Bank’s Research Institute has released a new report that ranked Kenya as the 4th African country with the highest concentration of wealthy individuals after Nigeria, South Africa, and Egypt. Read more: Business Insider
Boeing’s board of directors must face a lawsuit from shareholders over two fatal crashes involving its 737 Max plane, a US judge has ruled. Morgan Zurn said the first crash was a “red flag” about a key safety system on the aircraft “that the board should have heeded but instead ignored”. Read more: BBC News
Ford on Tuesday announced that it has hired Doug Field away from Apple as it looks to bolster its self-driving and electric vehicle ambitions. For the past three years, Field has worked as a vice president in Apple’s “Special Projects Group,” and is widely reported to have been leading the iPhone maker’s own bid to build an autonomous, electric vehicle. Read more: CNN
Angry protests, technological glitches and a plummet in value marked the first day of El Salvador adopting Bitcoin as legal tender. The price of Bitcoin on Tuesday crashed to its lowest in nearly a month, falling from $52,000 to under $43,000 at one point. An opposition politician said the fall caused one of Latin America’s poorest countries to lose $3m. Read more: BBC News
Capital Markets Report Sponsored By ZCCM-IH
In 67 trades recorded yesterday, 3,922,342 shares were transacted resulting in a turnover of K5,928,754. Share price losses were recorded in First Quantum Minerlas of K0.10 and in PUMA of K0.10. Trading was also recorded in Copperbelt Energy Corporation, Lafarge, Standard Chartered Zambia, Zambeef, Zanaco, Zambia Sugar and CEC Africa on the quoted tier. The LuSE All Share Index (LASI) closed at 4,790.43 points, 0.26% down from its previous close of 4,802.81 points. The market closed on a capitalization of K61,645,936,456 including Shoprite Holdings and K26,863,251,016 excluding Shoprite Holdings.
Chart of the Day: