Story of the Day:
As I walked through the aisle of “my local” supermarket, I was struck by a beautiful package in the bakery section of pre-mix ready to make cake. The packaging was for Meraki Cakes. A Zambian brand that is now creating a love mark with consumers. But how did they get here? Read more
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Zambia seeks to launch a crowdfunding initiative to help raise money for projects and improve businesses’ access to finance. The Economics Association of Zambia has indicated that it will launch the crowdfunding initiative, the practice of funding a project or venture by raising small amounts of money from a huge number of people through the internet. Read more: Xinhua
Zambia Airways 2014 Limited has been granted the Air Operators Certificates as it prepares to relaunch. Transport and Communications minister Mr Mutotwe Kafwaya handed over the certificate to Zambia Airways today and described the development as a game changer. Read more: Zambia Reports
The Jesuit Centre for Theological Reflection (JCTR) has called on the Ministry of Finance to ensure a pro-poor budget for 2021 is implemented to address the skyrocketing cost of living in Zambia And JCTR says the cost of living for the mouth of August, 2020, stood at K7,178.22, reflecting a marginal reduction of K26.02 from the month of July, 2020, which stood at K7,204.24. Read more: News Diggers
The Zambian Government has been urged to this time around, take extra steps to ensure that a proper price based on proper assessments, with due care and skill is done before agreeing the final price for additional shares in Mopani Copper Mines. Read more: Zambian Business Times
The Bank of Zambia (BoZ) has so far disbursed over K1.7 billion under the stimulus package while K1.5 billion has been allocated to six commercial banks. Read more: Zambia Daily Mail
The COVID-19 pandemic has continued to affect businesses in Zambia and the rest of the world. Forest Fruits in Mwinilunga District of Northwestern Province are facing a major disruption to business as the company’s foreign market continues to decline. Read more: ZNBC
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South Africa’s economic output shrank 51.0% in the second quarter, its fourth quarterly contraction in a row and largest on record, as a strict lockdown to curb the spread of the coronavirus shut down most activity, data showed on Tuesday. Read more: Africa News
A sell-off in shares of US technology firms has continued for a third day, dragging down all three major American stock indexes more than 2%. Apple was the biggest loser on the Dow, falling more than 6.7%. Amazon and Facebook also dropped at least 4%. Read more: BBC News
India’s anti-money laundering agency fined Standard Chartered Plc 1 billion rupees ($13.6 million) for breaking foreign exchange rules when it worked on the takeover of a local bank, marking one of the country’s biggest penalties imposed on an overseas lender. Read more: Bloomberg
EU antitrust regulators have set a new Dec. 16 deadline for their decision on the London Stock Exchange’s $27 billion takeover of data company Refinitiv after resuming their investigation into the deal. Read more: Reuters
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In 3 trades recorded yesterday, 1,056 shares were transacted yielding a market turnover of K1,129. Trading activity was recorded in Copperbelt Energy Corporation and Standard Chartered Zambia. The LuSE All Share Index (LASI) maintained its close at 3,838.20 points. As there were no share price movements. The market closed on a capitalization of K55,526,786,361 including Shoprite Holdings and K21,287,580,381 excluding Shoprite Holdings.
Chart of the Day: