Daily FiZ – Wednesday 29/09

Story of the Day:

Chartered Accountant Faith Mukutu has resigned her position as independent director on the Board of National breweries, according to a statement from the listed brew house. Read more 

Local Business and Finance Sponsored By Liquid Intelligent Technologies

Zambia’s debt to Chinese public and private lenders is $6.6 billion, almost double the amount disclosed by the previous Zambian government, the China Africa Research Initiative (CARI) has estimated from an analysis of loan data. Read more: Reuters 

Access Bank Zambia, a local unit of one of Nigeria’s top tier banks has announced the appointment of Lishala Situmbeko as the Country Managing Director – MD from November 2021. Situmbeko has over 25 years of experience as a renowned business leader in the private financial and public sectors. Read more: Zambian Business Times 

Paratus Group has announced that its brand-new data centre will open in Lusaka, Zambia on 1 October 2021. The new data centre in the East African country will offer colocation services – 24/7 connections for local and multinational businesses, together with a sophisticated range of digital and aligned services. Read more: IT News Africa 

After suspending operations for 18 months due to coronavirus, South African Airways on Monday relaunched its flights to Zambia with Minister of Transport and Logistics Frank Tayali pledging continued investment in the aviation sector to improve customer experience. Mr Tayali said Government wants to ensure infrastructure in the aviation industry is developed to enhance social and economic development. Read more: Zambia Daily Mail 

International Business and Finance

A new report by World Bank has revealed that 74% of the expected global growth for the population aged 18–23 from 2015 to 2035 will be concentrated in 10 countries, nine of which are in Sub Saharan Africa. Read more: Business Insider 

Pan-African cryptocurrency exchange, Yellow Card, has announced a $15M Series A, the largest ever by an African cryptocurrency exchange, to ramp up hiring and continue its expansion across the continent. Read more: Business Insider 

Chinese property giant Evergrande has said it is selling a $1.5bn stake it owns in a commercial bank, as it scrambles to raise money owed to customers, investors and suppliers. The almost 20% stake in state-owned Shengjing Bank is effectively being bought back by the bank. It comes after Evergrande missed a bond interest payment last week. Read more: BBC News 

Oil prices climbed above $80 a barrel on Tuesday, hitting their highest level in three years as the pound slumped. Brent crude, the international benchmark, rose to as much as $80.69 on the day, the most since October 2018. Prices have been rising for seven consecutive days on the back of the energy crisis in Europe. Read more: BBC News 

Capital Markets Report Sponsored By ZCCM-IH

In 21 trades recorded yesterday, 874,395 shares were transacted resulting in a turnover of K845,151. Trading activity was recorded in Airtel, Zanaco, CEC Africa and Copperbelt Energy Corporation. The LuSE All Share Index (LASI) maintained its close at 4,925.33 points, with a percentage change of 0.60.

For any feedback on the stories captured on the Daily FiZ, email Natasha on dailyfiz@fizambia.com
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