Africa’s second largest copper producer, Zambia on August 24 resounded true and resilient democratic posture for the third time since its multiparty state shift in 1991, when the 7th Republican President H.E. Hakainde Hichilema was sworn in at a function held in Lusaka the capital. This followed a landslide victory of Hichilema the President of the United Party for National Development – UPND who defeated the Patriotic Fronts Edgar Lungu (Zambia’s 6th President). The inauguration ceremony attracted sitting heads of state and opposition leaders from within the region and international community with senior dignitaries from the the United States, United…
Author: The Editor
The central bank in Africa’s copper hotspot will commence deliberations for its pen ultimate rate decision meeting for the year 2021 on August 30 for 2 days with the announcement to be made on September 01. The Southern African nation has seen its currency, the Kwacha sprint to earn worlds best performing after a sentiment boost following a leadership change outcome of the August 12 polls that saw President elect Hakainde Hichilema ascend to Zambia’s highest office after outperforming 6th Republican President Edgar Lungu. READ ALSO: BOZ keeps rate tad at 8.5% on copper induced confidence and an inflation ebb…
Africa’s second largest copper producer Zambia is still dealing with autopsy effects a change in leadership that has triggered a surge of confidence nodded by a dollar bond price rally in a 12% valuation appreciation in the last 5 days. President elect Hakainde Hichilema poised to be Zambia’s 7th Republican President has been dubbed a political risk hedge for the red metal producer fueling a bond rally that has Wall Street eyeing Kwacha bonds. As Wall Street talks the Kwacha is walking, albeit at a faster pace with a 7.8% in gains to be the worlds best performing currency closing…
The central bank in Africa’s second largest copper hotspot Zambia will on August 27, seek to raise K1.4 billion (circa $73.7 million) in government bonds. This will be a special post election bump bond offering in a week that the Southern African nation has seen a change in leadership after landslide victory in favor of President elect Hakainde Hichilema leader of the United Party for National Development – UPND who defeated the Patriotic Fronts – PF’s Edgar Lungu. The leadership change has seen risk appetite claw back into the Zambia markets with money managers in Wall Street recommending Kwacha assets…
Barely 12 hours into August 16, the 7th Republican President elect of Africa’s second largest copper hotspot His Excellency Hakainde Hichilema, offshore markets were roaring positively with rally’s in the dollar bond markets observed 8.0% across the board in price. “I don’t want to call it power, let’s call it servant leadership” – Zambia President-elect Hakainde Hichilema said while addressing a visibly excited electorate at his residence in Lusaka the capital. Hichilema promised Zambians better lives and a united Zambia. “In the next couple of days I will be announcing my cabinet and it represents this country. We will reunite…
Prices for dollar bonds for Africa’s copper producer Zambia rallied 8.0% across the board as Eurobond markets priced in news of a leadership change. This follows the election of opposition political party the United National Development Party – UPNDs candidate and president elect Hakainde Hichilema who defeated Patriotic Fronts – PF leader Edgar Lungu the outgoing President in the August 12 polls. As at 10.41am in Zambia’s dollar bonds rallied 8.0% across the board to 69.996/70.733 (2022), 71.936/72.742 (2024) and 71.171/71.895 (2027) in bid/ask signalling investor confidence in the new elect leadership. Yields on dollar bonds rallied to 39.620%/41.958% (2022),…
IMF Managing Director Kristalina Georgieva.
After a slower start to the year in 1Q21 one of Zambia’s strongest franchises Absa PLC in 2Q21 demonstrated both greater revenue momentum and cost efficiency. According to financial statements published in the press, the banks after tax earnings levitated to K296.8 million (5x compared to a year ago) after a strong 2Q21 rebound to K237.4 million for the quarter. READ ALSO: Country risks weigh Absa Zambia’s 1Q21 credit appetite The Africanacity brands 1H21 cost to income ratio narrowed to 52.0% from 59.0% in 1Q21 and 73.0% in FY20. Absa’s non interest income grew by a softer 9.9% margin to…
Lusaka Securities Exchange listed Zambia National Commercial Bank Head Office on Cairo road, Lusaka.
Africa’s copper producer Zambia will in the medium term still grapple with scaled food prices which continue to keep its inflation at two decade highs. According to the Zambia Statistics Agency – ZSA July annual inflation was unchanged at 24.6% as food inflation was unchanged at 31.2% while the non food component of the consumer price index infinitesimally ebbed 0.1% to 17.0%. While food prices have been scaled by an uptick in protein products such as beef and fish, the zero change in price for June was attributed to stability in the costs of sardines, cooking oil and greens. Consumer…