Story of the Day
At an Employability Workshop recently organised by the South Africa – German Centre for Development Research (SA-GER CDR), I shared a thought piece about what I consider to be foundational elements for career development. A subject I am passionate about as I myself continue trying to navigate the ever challenging and dynamic job market. In my view, employability refers to a set of achievements – skills, understandings and personal attributes that make graduates more likely to find gainful employment and be successful in their chosen occupations. This conception of employability encapsulates both perspectives on the ‘likelihood to gain employment’ and also ‘be successful’ in your chosen occupation. Employability therefore can be seen as an on-going developmental process even while you’re still on the job! Read more
Local Business and Finance Sponsored By Liquid Intelligent Technologies
Zambia’s mines minister Paul Kabuswe has told state mining investment company ZCCM-IH to engage with Vedanta Resources in an effort to find an out-of-court resolution to their long-running dispute over Konkola Copper Mines (KCM), he said on Tuesday. “We must sit around the table and begin to discuss. We cannot solve these matters in court,” Kabuswe said at a press briefing streamed live on Facebook. “I have since given an instruction to ZCCM-IH to quickly tell their lawyers to reach out to Vedanta’s lawyers.” Read more: Mining
Energy Minister Chibwe Kapala has vowed to continue with monthly fuel price adjustments despite key stakeholders feedback that it’s not working and is making business planning a at both business and household level a nightmare. Key stakeholders such as the Bus and Taxi Owners Association, Association of Oil marketing Companies, Business Owners and members of the public have told the Zambian Business Times – ZBT that monthly fuel adjustments is not working well. Consumers argue that the monthly adjustment are disruptive with those having school going children as well as those consumers who use public and even private transport are struggling to manage their expense budgets. Read more: Zambian Business Times
Vice President Mutale Nalumango has urged financial institutions to design packages that will allow Zambians access affordable mortgages. Mrs. Nalumango says Zambian firms should also take advantage of the environment that Government has created and help deal with the housing deficit which stands at over 1.5 million units. And Mrs. Nalumango has also called on Small and Medium Enterprises (SME’s), to partner with foreign companies to come up with win -win construction projects that will benefit citizens. Read more: ZNBC
International Business and Finance Sponsored By Agricultural and Commercial Society of Zambia
The UK economy rebounded in May after shrinking in April and March, official figures show. The economy grew by 0.5% during the month, the Office for National Statistics (ONS) said, higher than the flat growth most analysts expected. Growth in the construction industry and a large rise in GP appointments helped to boost the economy, the ONS said. Read more: BBC News
Twitter is suing billionaire Elon Musk to try to force him to buy the social media firm, setting up a legal battle with the world’s richest man. It comes after Mr Musk announced he was walking away from his proposed $44 billion takeover of Twitter on Friday. He claimed Twitter had not given information about the number of fake and spam accounts on the platform. Read more: BBC News
The top economic officials of the United States and Japan have pledged to work together to tackle rising food and energy prices while reiterating their condemnation of Russia’s war in Ukraine. US Treasury Secretary Janet Yellen and Japanese Finance Minister Shunichi Suzuki on Tuesday said the war had increased exchange rate volatility, posing risks to economic and financial stability. Read more: Al Jazeera
Nigeria’s solar companies are seeing a surge in demand for mini-grids and equipment as businesses in Africa’s biggest oil producer look for alternative power sources after the cost of diesel soared locally due to rising global oil prices. Supply constraints could, however, hamper their ability to capitalise on the trend, with some saying they have begun to turn away customers because they are unable to meet demand. Read more: Al Jazeera
Capital Markets Report
In 180 trades recorded yesterday, 150,486 shares were transacted resulting in a turnover of K497,203. Trading activity was recorded in AECI, Airtel, Bata, Copperbelt Energy Corporation, Investrust, Chilanga Cement, National Breweries, Puma, Standard Chartered Zambia, Zambia Breweries, Zambeef, Zanaco and Zambia Sugar. The LuSE All Share Index (LASI) maintained its close at 6,865.86 points, as there were no share price movements. The market closed on a capitalization of K70,817,561,730 including Shoprite Holdings and K36,034,876,290 excluding Shoprite Holdings.