Story of the Day:
Following months of cautionary announcements to shareholders, Cavmont Capital Holdings Zambia is set for delisting on Lusaka Securities and Exchange at the end of 2020. Read more
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Zambia’s consumer body said on Tuesday that 2020 will go in the annals of history as the worst year for consumers. Due to the negative effect of the COVID-19 pandemic, the year saw consumers experiencing the worst living standards in years, according to the Zambia Consumer Association (ZACA). Read more: China.org
Botswana is advancing construction of a new railway line that will link Mmamabula coal fields in the centre of the country to Lephalale in South Africa. The new line will also link Botswana from Mosetse with Zambia through Kazungala. Effectively this creates a line running from South Africa to Zambia via Botswana. Read more: Lusaka Times
Gender Minister Elizabeth Phiri says government remains committed towards reducing gender inequalities in the country to minimum levels through various empowerment initiatives for women. Read more: Lusaka Times
Lusaka Province Minister Bowman Lusambo says he will put an end to illegal mining in the Province. Mr. Lusambo says he will engage the line cabinet ministers of Mines, Chiefs and Traditional Affairs as well as Lands in an effort to end the vice. Read more: ZNBC
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Government borrowing soared in November as the UK continued to support the economy during the coronavirus pandemic. The Office for National Statistics said borrowing hit £31.6bn last month, the highest November figure on record. It was also the third-highest figure in any month since records began in 1993. Read more: BBC News
Tesla CEO Elon Musk said on Twitter on Tuesday that he attempted to sell the company “during the darkest days of the Model 3 program,” but that Apple CEO Tim Cook “refused to take the meeting.” Apple did not immediately respond to a request for comment. Read more: CNN
China is extending support measures for the country’s smallest businesses, a signal that full economic recovery from the shock of the coronavirus pandemic still faces many uncertainties. Read more: CNBC
Dangote Cement Plc, owned by Africa’s richest man, Aliko Dangote, plans a buyback of the company’s shares next week to boost shareholder value. The company will repurchase as much as 10% of the issued capital starting with a first tranche of 85.2 million shares of 50 kobo each, or 0.5% of the total in issue, it said in a filing to the Nigerian Stock Exchange on Monday. Read more: CGTN
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In 10 trades recorded yesterday, 41,013 shares were transacted yielding a market turnover of K74,346. Trading activity was recorded in CCHZ and Real Estate Investments Zambia. The LuSE All Share Index (LASI) maintained its close at 3,937.22 points,as there were no share price movements. The market closed on a capitalization of K57,616,689,793 including Shoprite Holdings and K23,377,483,813 excluding Shoprite Holdings.
Chart of the Day: