Story of the Day:
In first week of August 2021 trading on the Lusaka Stock Exchange, thirteen companies’ securities recorded trades with Shoprite Holdings as the highest priced security in comparison to week one of August 2020 with only four companies with Airtel Zambia as the highest priced security. Read more
Local Business and Finance Sponsored By Liquid Intelligent Technologies
The landslide victory for Zambian President Hakainde Hichilema may help him make good on his promise to secure a much-needed deal with the International Monetary Fund by April 2022 to reduce debt and boost economic growth. Read more: Bloomberg
President Mnangagwa has assured President Hakainde Hichilema of his readiness to work with him in the furtherance of the sister republics’ interests. In his congratulatory letter to Mr Hichilema, who romped to a landslide victory in Zambia’s presidential election, the President said there was scope to deepen relations between the two nations, regionally and globally. Read more: The Herald
The Bank of Zambia will seek to raise K1.4 billion (circa $73.7 million) in government bonds. This will be a special post election bump bond offering in a week that the Southern African nation has seen a change in leadership after landslide victory in favor of President elect Hakainde Hichilema. Read more: The Business Telegraph
Listed firms on Lusaka Securities Exchange (LuSE) recorded a drop in turnover from K23 million in May to K20 million in June this year, with Copperbelt Energy Corporation (CEC) earning a larger amount. In June, a total of 12.86 million shares were transacted in 687 trades, resulting in a market turnover of K20.04 million. Read more: Zambia Daily Mail
International Business and Finance
African Leadership Magazine has announced winners and runners-up of the 2021 African Business Leadership Awards (ABLA). Bank of Ghana was named the Central Bank of the year, while the CEO of Airtel Africa, Nigeria, Segun Ogunsanya, was adjudged, African business leader. Read more: Business Insider
Nigeria’s President Muhammadu Buhari has signed into law an oil overhaul bill that has been in the pipeline for almost two decades. According to a presidential spokesperson, the bill, which is now law, will overhaul almost all aspects of the country’s oil and gas sector. Read more: Business Insider
China’s biggest tech companies lost more than $50 billion in market value Tuesday after the government proposed sweeping new rules to further curb anti-competitive behavior among big internet firms. Read more: CNN
U.S. stock indexes fell Tuesday as July retail sales declined and concerns about slowing global economic growth intensified. The Dow Jones Industrial Average fell 282.12 points, or 0.8%, to 35,343.28. The S&P 500 shed 0.7% to 4,448.08, and the Nasdaq Composite lost 0.9% to 14,656.18. Read more: CNBC
Capital Markets Report Sponsored By ZCCM-IH
In 135 trades recorded yesterday, 3,237,544 shares were transacted resulting in a turnover of K4,846,921. A share price gain of K0.30 was recorded in Zambeef. A share price loss of K0.01 was recorded in Standard Chartered Zambia. Trading activity was also recorded in AECI, Copperbelt Energy Corporation, Lafarge, Pamodzi, Zambia Breweries and Zanaco. The LuSE All Share Index (LASI) closed at 4,679.64 points, 0.36% up from its previous close of 4,662.80 points The market closed on a capitalization of K61,164,119,680 including Shoprite Holdings and K26,381,434,240 excluding Shoprite Holdings.
Chart of the Day:
