The Lusaka Securities and Exchange has confirmed that three of its executives have left the brouse.
“I can confirm that Business Development Manager, Information Systems Manager, Chief Financial Officer, and one other officer have left the LuSE following the expiration and non-renewal of their contracts”, said Priscilla Sampa, Chief Executive Officer of LuSE in a telephone conversation with the Founder of Financial Insight. “The contracts came to a natural end.”
The ‘natural’ exits came at the end of the last decade when LuSE finally had its first Initial Public Offering (IPO) in over 4 years. The ZAFICCO listing was announced by the LuSE in 2019 following the then Minister of Finance (Honorable M.D. Mwanakatwe) in her 2019 budget speech signaled that there would be two IPOs in 2019.
“The functions and operations of the LuSE remain intact despite the exits and the LuSE is currently in the process of recruiting”, added the CEO. “The vacancies should be filled soon”.
The CEO was also dismayed by recent social media reporting that cast a shadow on the LuSE’s core mandate. The LuSE’s core mandate is to provide a fair and efficient platform through transparent and equitable trading of the listed securities, according to its website. LuSE contributes to wealth development, financial services and a platform for investment for foreign and local investors.