Story of the Day:
Premier Investment group, ZCCM IH, has announced that its annual general meeting will be held on 30 June 2021, according to a published statement on SENS. ZCCM IH often hosts investors in January with the last AGM held on 14 January 2020, but due to COVID 19 restrictions, they have opted to host the AGM via video conferencing. At this years AGM, the Management team will have a number of issues to deliberate with investors. Read more
Local Business and Finance Sponsored By Liquid Intelligent Technologies
Zambia’s massive fertilizer import bill can be cut if the country can adopt the use of the latest technology in plant nutrition by pivoting to wide spread use of organic and liquid fertilizers. Bulk fertilizer imports have been sighted as one of the key import items which is currently causing foreign exchange or US dollar outflow and causing the Kwacha to shed value. Read more: Zambian Business Times
Consolidated Nickel Mines Limited (CNM) recorded its highest ever nickel production of 400 tons of premium grade export quality nickel concentrate in April 2021, since it re-opened its operations at its Munali Nickel Mine in 2019. Read more: Zambian Business Times
Airtel Networks Zambia Plc has launched a platform that will support digital growth of local businesses through provision of end-to-end innovative telecoms solutions. The platform, dubbed ‘Airtel Business’, is a strategic business unit specifically created to support and advise businesses on their digital connectivity solutions. Read more: Zambia Daily Mail
ZCCM-Investments Holdings (IH) will transfer its shares in Investrust Bank Plc and Mushe Milling to Industrial Development Corporation (IDC) Group in line with the restructuring and re-organisation agreement. Last year, IDC board of directors approved the proposed IDC Group and ZCCM-IH re-organisation exercise to achieve optimisation of operations and unlock opportunities for synergy within the group. Read more: Zambia Daily Mail
International Business and Finance
The foreign exchange crisis in Nigeria is making it difficult for investors to help country as many have to been forced to ditch the official market for the black market due to shortage supply and mismanagement by the county’s apex bank. According to World Bank, in its bi-annual Nigerian Development Update, a report published twice yearly, the way the exchange rate was managed limited access to FX and thus adversely affected investor confidence and investment appetite. Read more: Business Insider
Tanzania’s president, Samia Suluhu Hassan, has called on the Tanzanian Central Bank to begin working on the use of cryptocurrencies in the country. This makes the East African country the latest to show its support for digital assets. Her comment is coming after El Salvador became the first country to make bitcoin a legal tender, and Elon Musk stated plans by Tesla to resume taking bitcoin as a form of payment. Read more: Business Insider
The US and the EU have agreed a truce in a 17-year trade dispute over subsidies for Boeing and Airbus. Under the agreement, both sides will remove taxes on $11.5bn of goods, including wine, cheese and tractors, for five years. Those tariffs, imposed by both sides as punishment in the escalating dispute, had already been suspended in March while they tried to resolve matters. Read more: BBC News
Capital Markets Report Sponsored By ZCCM-IH
In 24 trades recorded yesterday 12,793 shares were transacted resulting in a turnover of K41,389. A share price gain was recorded in Zambia Sugar of K0.80. Trading activity was also recorded in Airtel, BATA, Copperbelt Energy Corporation, Madison Financial Services, and Zambia Breweries. The LuSE All Share index (LASI) closed at 4,381.74 points, 1.32% up from its previous close of 4,323.70 points. The market closed on a capitalization of K59,326,084,037 including Shoprite Holdings and K25,081,443,262 excluding Shoprite Holdings.
Chart of the Day:
