Zambian 2013 Budget Reviewed by Kampamba Shula

On 12 October 2012, the Minister of Finance, Hon. Alexander Bwalya Chikwanda, MP, announced the 2013 National Budget. Budget highlights and taxation and other changes as contained in the Budget speech and the Zambia Revenue Authority (“ZRA”) publication.

Wednesday, February 22, 2012

BoZ should handle increase in minimum capital carefully

By Chiwoyu Sinyangwe.  BOZ should carefully handle the increase in minimum capital for commercial banks to avoid lenders engaging in reckless lending that might plunge domestic financial sector into chaos, says Standard Chartered Bank. And Standard Chartered Bank has complained that the slow pace with which courts in Zambia disposed of commercial litigations was...

The Lusaka Stock exchange update

    Wednesday 22nd February, 2012 DAILY COMMENTARY FOR WEDNESDAY 22nd FEBRUARY,2012 The index closed at 3,833.25 points ,up by 0.12% from yesterday's close of 3,828.76. A total of 89,327 shares were transacted in 14 trades worth K89 million. Price movements were recorded in only two firms namely CEC down by K2.00 and SCZ up by K0.80,closing at K664 and K85...

Greek Bailout Wins Two Cheers From Wary Investors

By Mark Gilbert Greece’s bailout reinforces a rally that has driven yields for Italy and Spain down from euro-era records, giving the region’s leaders time to convince investors they can deliver both economic growth and spending discipline. “It is good to have cleared the Greek Damocles sword for a few months,” said Raphael Gallardo, the head of economic...

Monday, February 20, 2012

Kwacha depreciates by 1.4% - experts

THE kwacha has depreciated by almost 1.4 per cent this year, market experts have revealed. The local currency on Friday was buying at K5,191 and selling at K5,211 per US dollar. It has seen little movement in the aftermath of the last September polls, sinking to K5,300 level on Wednesday, the lowest seen this month. According to Barclays Bank, although the kwacha rebounded...

Lusaka Stock Exchange Update

Monday 20th February, 2012 DAILY COMMENTARY FOR MONDAY 20th FEBRUARY,2012 The index closed at 3,822.45 points ,down by 0.06% from yesterday's close of 3,824.91. A total of 204,529 shares were transacted in 19 trades worth K82 million. Price movements were recorded in FARM - K48.00 and closed at K2,800.00, INVESTRUST - (K1.10) and closed at K18, SCZ - K0.10 and closed...

Friday, February 17, 2012

Zambia needs to prepare for potential global downturn, says Guloba

ZAMBIA needs to prepare adequately for a potential global downturn because the euro debt crisis will continue to create risks and vulnerabilities in future economic prospects, says a local World Bank official. Making submissions to the parliamentary committee on estimates under the theme 'Impact of the Euro zone crisis on Zambian economy', World Bank Zambia economist...

Zambia seeks legal advisor sovereign bond

By Kabanda Chulu  GOVERNMENT has issued a request for expressions of interest to engage an international legal advisor and lead manager for Zambia's first sovereign bond (US$500 million) issuance on the international capital market. According to the expressions of interest (EoI) seeking financial and transaction details that will close this Friday, Zambia intends...

Badex calls for public placement of $500million dollar Bond

By NANCY MWAPE THE Bond and Derivatives Exchange Zambia Plc (BaDEx) has asked Government to consider a public placement for the issuance of the US$500 million sovereign bond to allow Zambian participation and test international appetite for the bond. BaDEx is a public liability company that started operations in January 2012 focusing on bonds and derivates. In an interview,...

Copper prices unlikely to exceed $9,000 - De Wet

COPPER prices in 2012 are not likely to exceed US$9,000 per tonne due to the decline in the Chinese construction sector, says Standard Bank head of commodity strategy Walter de Wet. And de Wet stated that global copper consumption is expected to grow by 1.2 per cent in 2012 to reach 20.3 million metric tonnes. In a statement yesterday, de Wet stated that for most investors,...

Monday, February 13, 2012

Zambia stuns Ivory Coast in ACN final

Zambia won the African Cup of Nations Sunday, beating pre-tournament favorite Ivory Coast 8-7 on penalties in a nerve-racking final at Stade de l'Amitie. Stopela Sunzu scored the deciding sudden-death penalty after Gervinho missed his spot kick for Ivory Coast. It's Zambia's first African title and came, poignantly, in the same city where nearly the entire national team...

Saturday, February 11, 2012

Highlight of Monthly Zambian Infaltion (January)(CSO)

The revised Consumer Price Index (CPI) is categorised into 12 main groups. The annual rate of inflation for Food and nonalcoholic beverages was recorded at 6.1 percent; Alcoholic beverages and tobacco (4.3 percent); Clothing and footwear (7.3 Percent); Housing, water and electricity (8.4 Percent); Furnishing and household equipment (2.3 Percent); Health (6.7 Percent); Transport...

Resource nationalism in Africa More for my people

The Economist Report. ZAMBIA’S copper belt is in a jubilant mood. Mining output and prices reached an all-time high last year, as did local sales of bar drinks and luxury cars. Foreign companies—the only ones with enough capital and expertise to do the digging—are ramping up production. Meanwhile the government has increased mining levies. The extra money will be used...

Egypt Credit Rating Cut by S&P Citing Plunge in Country’s Foreign Reserves

Bloomberg Report Egypt’s credit rating was downgraded by Standard & Poor’s, which cited a plunge in the country’s foreign reserves and persistent political instability. S&P lowered the ratings on long-term foreign- and local- currency debt to B, five steps below investment grade, from B+, according to an e-mailed statement from London today. The outlook was negative,...

Friday, February 10, 2012

LUSE Market Update

  Friday 10th February, 2012 DAILY COMMENTARY FOR FRIDAY 10th FEBRUARY,2012 The index closed at 3,713.57 points ,down by 0.05% from yesterday's close of 3,715.57. A total of 2,803,010 shares were transacted in 22 trades worth K4.7 billion. Price movements where recorded in CCHZ - K1.00 and closed at K5.00, INVESTRUST - (K0.20) and closed at K19.20 and SCZ - (K0.50)...

Copper prices fall,china housing market concerns

Copper dropped 2.4 percent to $8,551 a metric ton. China is the biggest buyer of the metal. Gold declined 0.6 percent to $1,718.26 an ounce, the third consecutive drop. Brent crude was down 1.5 percent to $116.80 a barrel, ending the longest winning streak for the March futures contract since October 2009. Concerns on Chinas housing market put downward pressure on the metal....

Monday, February 6, 2012

Bank of Zambia Financial update

 BOZ Exchange Rates    Latest Statistics Fortnightly ...

LUSE Trade Summary

Monday 6th February, 2012 DAILY COMMENTARY FOR FRIDAY 03rd FEBRUARY,2012 The index closed at 3,859.07 points ,down by 0.14% from yesterday's close of 3,864.35. A total of 538,919 shares were transacted in 45 trades worth K298 million. Price movements where recorded in AELZ - (K500.00) and closed at K4,000.00, PUMA - (K4.00) and closed at K946.00, CEC - (K1.00) and...

Kwacha in for turbulent period versus the Dollar

Copper prices jumped 3.2 per cent on Friday after a sharp improvement in the US job market and higher factory orders raised hopes for stronger demand. The money market last remained quiet with very little flows on both the corporate and interbank desks, with the Kwacha closing Friday's trading session at K5,155 a dollar. The local currency traded in the range of K5,120...

Thursday, February 2, 2012

Zuckerberg Controlling 57% of Facebook Seen as Risk to Investors

 Mark Zuckerberg's majority control puts too much power in the hands of one person and may deter potential IPO investors, corporate-governance experts say (Bloomberg) — Mark Zuckerberg’s majority control over Facebook Inc. puts too much power in the hands of one person and may deter potential investors in the company’s initial public offering, corporate-governance...

Zuckerberg Tops Google Founders With $28.4B Haul

Facebook Inc. (FB)’s initial public offering may value Mark Zuckerberg’s stake at $28.4 billion, making him richer than Google Inc. (GOOG)’s co-founders and almost on par with Larry Ellison, who started Oracle Corp. (ORCL) 35 years ago. The 27-year-old founder and chief executive officer of Facebook is the company’s top stakeholder as it prepares to go public, with 533.8...