Story of the Day:
Energy, the backbone of development, serving humanity and driving economic growth. Access to energy is essential for Zambia’s key economic sectors: mining, agriculture, tourism, and trading. Read more
Local Business and Finance Sponsored By Liquid Intelligent Technologies
Government has signed a letter of intent with Zanaco Plc aimed at supporting the development of information and communications technology (ICT) innovation hubs. This is aimed at offering young people platforms to be innovative and explore designs of various solutions and products. Read more: Zambia Daily Mail
As much as 422,500 jobs could be created countrywide in the agriculture sector if the new dawn government fully exploits the available farm blocks that could easily absorb unemployed youths and citizens, new IAPRI research shows. Read more: Zambian Business Times
Leading pan-African technology group Liquid Intelligent Technologies is proud to announce the launch of its shortest terrestrial fibre route between the East to the West coasts of Africa, connecting Mombasa, Kenya to Muanda, DRC. Read more: Lusaka Times
Government says the high volume of trade between Zambia and Malawi at the Mwami-Mchinji One Stop Boarder Post has contributed to economic growth for the two countries. Foreign Affairs and International Cooperation Acting Permanent Secretary Isabella Lemba says open border trade is key to enhancing economic growth for the two countries. Read more: ZNBC
International Business and Finance
Afghanistan’s economic woes could fuel a refugee crisis impacting neighbouring countries, Turkey and Europe, the International Monetary Fund has said. The economy will contract by up to 30% this year – which could push millions into poverty and cause a humanitarian crisis, the fund warned. Read more: BBC News
The International Monetary Fund on Tuesday downgraded its 2021 economic growth forecast for Asia after the highly infectious Covid-19 delta variant caused a spike in cases in parts of the region. The IMF said it expects Asia’s economy to grow by 6.5% in 2021, compared with its April forecast for a 7.6% expansion. Read more: CNBC
The inflation rate in Sudan continued to drop for the second month in a row, registering 365.82 percent in September compared with 387.56 percent in August, Sudan’s Central Bureau of Statistics said in a press release on Thursday. Read more: CGTN
Nigeria’s inflation rate fell for the sixth consecutive month in September, according to the latest report by the National Bureau of Statistics (NBS). The Nigerian statistics office on Friday said that the prices of goods and services, measured by the Consumer Price Index (CPI), rose by 16.63 per cent – 0.38 per cent points lower than the rate recorded in August 2021 (17.01) per cent. Read more: Business Insider
Capital Markets Report Sponsored By ZCCM-IH
In 9 trades recorded yesterday, 18,561 shares were transacted resulting in a turnover of K32,769.33. Trading activity was recorded in Standard Chartered Limited Zambia, Zambeef, Zanaco and Lafarge. The LuSE All Share Index (LASI) maintained its close at 4,996.13 points.
Chart of the Day: