Left – Zambia’s Mines Minister Richard Musukwa with other dignitaries at Cape Town Mining Indaba on 04 February 2020.
Author: The Editor
The securities and exchange commission in Africa’s copper hotspot has cancelled an operational license for Panex commodity exchange. PANEX anchors an ecosystem of farmers, warehouse and logistics operators, brokers, traders and commercial banks. This platform was well known for facilitation of investments of smaller than usual magnitude in government securities which ideally would not be possible through direct dealing with the central bank on account of scale. This was done through a pooling process that built a significant deposit that would then bid for participation in government security auctions. With less than 2 years of operation, PANEX license has been cancelled on…
Indo Zambia Bank on Cairo road in Lusaka the capital.
Lusaka Securities Exchange (LuSE) listed Standard Chartered Bank’s FY19 after tax earnings slid 55.9% to K117.8million on a decline in income growth and widening impairments. The banks total income rose 6.95% to under a yard supported by strong growth in interest income by 22.45% to K1.08billion on the back of revenue from credit extension totaling K555.72million in addition to duration in government securities earning the bank slightly under half a billion Kwacha’s. Stronger FX trading cushions softer fee and commissions. Stancharts non-interest income line slowed 13.04% to K345.04million as autopsy effects of eradication of unwarranted fees manifested in a 19.67%…
Lusaka Securities Exchange (LuSE) listed Standard Chartered Bank’s FY19 after tax earnings slid 55.9% to K1117.8million on a decline in income growth and widening impairments. The banks total income rose 6.95% to under a yard supported by strong growth in interest income by 22.45% to K1.08billion on the back of revenue from credit extension totaling K555.72million in addition to duration in government securities earning the bank slightly under half a billion Kwacha’s. Stronger FX trading cushions softer fee and commissions. Stancharts non-interest income line slowed 13.04% to K345.04million as autopsy effects of eradication of unwarranted fees manifested in a 19.67% softer…
Zanaco bank head office on Cairo road in Lusaka the capital .
One year treasury bills were repriced 24 basis points higher to 28.24% in Thursday 30 January government security auction. With K1.3billion of market liquidity into the sale, the central bank in Africa’s copper producer Zambia, was able to raise K719million in cash terms a better outcome that the first two sales of the year. Appetite was headlined in excess of K1.19billion of the K950million on offer but only absorbed about 65% of the assets on the back of cheeky bids by players. The interest rate risk environment remains bearish with steady repricing observer so far in the year in the…
Barclays Bank head office in Lusaka the capital.
Consumer Price Index (CPI) in Africa’s copper hotspot widened 80 basis points to 12.5% for the month of January as announced by the Zambia Statistics Agency (ZSA). Key drivers of the rise were energy prices as earlier forecast by the Kwacha Arbitrageur. Read also: Energy price risks to ebb Jan inflation higher as interest rate risks remain elevated Zambia grapples with rising energy price risks fueled by a hike on pump prices effected on Boxing Day last year whose effects on consumers was compounded by electricity tariff hike which the energy regulator nodded on ZESCOs application. Other drivers include the…
Stanbic Head Office on Addis Ababa drive in the capital Lusaka.