Story of the Day:
It has come to the attention of the Lusaka Securities Exchange Plc (LuSE) that various media platforms, including the Zambia Daily Mail in an article dated 7th March 2022 reported that First Quantum Minerals (FQM) Limited has been suspended from the LuSE. Read more
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The Zambia Tax Platform (ZTP) has called on the government to put in place protectionism measures that can encourage domestic businesses to be more productive and competitive and attain quality assurance of international standards. Read more: News Diggers
Newly appointed Development Bank of Zambia (DBZ) board chairperson Noel Nkoma says the new board will ensure that it restores public confidence in the Bank, adding that before the end of the year, they want to see DBZ resume lending operations. Read more: News Diggers
The Association of Zambian Women in Mining -AZWIM- has forged ties with African Diaspora Development Holdings that will see it access mining equipment and a ready market in the United States of America. AZWIM President Grace Njapau says Zambian women have had challenges of accessing equipment such as excavators among others to enhance their productivity. She has expressed confidence that the partnership with African Diaspora Development Holdings, a US based organisation will enhance the operations of her members. Read more: ZNBC
The Registrar of Financial Service Providers has with effect from 1 March 2022 cancelled the non-deposit taking microfinance institution licence of Moneta Finance Limited. This is in accordance with section 17 of the Banking and Financial Services Act. Read more: Lusaka Times
International Business and Finance
The World Bank has approved $723m in loans and grants for Ukraine, as the country fights against a Russian invasion. The bank said it is continuing to work on another $3bn package of support in the coming months for the country. Read more: BBC News
Leading telecommunications company, Airtel Africa Plc, announced earlier today that it has finalised an early repayment of its $505 million senior secured loan. In a regulatory filing seen by Business Insider Africa, the company explained that it used cash balances available at group level to repay the debt which, by the way, was not due for maturity until March 7th, 2023. Read more: Business Insider
Female entrepreneurs and business owners play a vital role in economies across Africa. Yet, many women are locked out of industry due to barriers that add challenges to accessing credit and financial services. Many hurdles, poverty, discrimination, a lack of institutional support and outdated gender norms play into the $42bn financing gap facing African women. Read more: African Business
Google on Tuesday announced it has agreed to buy cybersecurity firm Mandiant for around $5.4 billion, one of the largest acquisitions in the tech giant’s history and a big bet that helping companies better address cyber threats can bolster its cloud computing business. Read more: CNN
Capital Markets Report Sponsored By ZCCM-IH
In 88 trades recorded on Monday, 49,442 shares were transacted resulting in a turnover of K90,687. A share price gain of K2.00 was recorded in Zambia Sugar. A share price loss of K0.02 was recorded in CEC Africa on the quoted tier. Trading activity was also recorded in Copperbelt Energy Corporation, Chilanga Cement, Standard Chartered Zambia and ZAFFICO. The LuSE All Share Index (LASI) closed at 6,631.41 points, 2.19% up from its previous close of 6,486.31 points. The market closed on a capitalization of K69,694,249,269 including Shoprite Holdings and K34,911,563,829 excluding Shoprite Holdings.
