HomeMonday 6 March 2023

Monday 6 March 2023

Daily Market News - 6th March 2023
Today’s main headlines were ZMW400million Released For CDF Projects, ZRA To Take Over Management Of Kasumbalesa Border and The Production Of Cotton In Zambia Has Declined By About 95%, Says The Cotton Association. The main companies traded were Copperbelt Energy Corporation, Zambeef and Standard Chartered Bank

ZMW400million Released For CDF ProjectsZNBC

The Ministry of Finance has released ZMW400 million for Constituency Development Funds (CDF)projects for 2023. Local Government Permanent Secretary Maambo Hamaundu says the money is now in the Ministry’s account and is awaiting disbursement to constituencies. Mr. Hamundu says this year, Government is working efficiently to ensure that all money meant for development projects is disbursed on time.


ZRA To Take Over Management Of Kasumbalesa BorderZNBC

The Zambia Revenue Authority (ZRA)is this afternoon expected to take full control of Operations at the Kasumbalesa Border Post. The decision follows the expiry of the Concession Agreement between the Government and the Zambia – Border Crossing Company (ZIPBCC) on Friday 3rd March, 2023. ZRA will now manage the Vehicle Traffic Management System at Kasumbalesa Border Facility, including other supporting infrastructure.


The Production Of Cotton In Zambia Has Declined By About 95%, Says The Cotton AssociationLusaka Times

The Cotton Association of Zambia (CAZ) has said, the production of cotton in the country has declined by about ninety five percent. CAZ Executive Director, John Ngwenyama, said the cotton industry has reduced from 250,000 tons to 25, 000 tones. Mr Ngwenyama said most cotton farmers lost interest in the production of the crop because of poor chemicals and recycled cotton seed that the ginners sold to farmers.

Bond Trading Summary

Bond trades of face value ZMW46,504,300 were traded in 3 trades resulting in a market value of ZMW40,342,760

Lusaka Securities Trading Summary

In 35 trades recorded today, 18,776 shares were transacted resulting in a turnover of ZMW53,545.12. A share price loss of ZMW0.05 was recorded in PUMA. Trading activity was also recorded in AECI, BATA, CECZ, SCBL, ZMBF and ZNCO. The LuSE All Share Index (LASI) closed at 7,343.24 points, 0.08% down from its previous close at 7,348.99 points. The market closed on a capitalization of ZMW72,895,500,022.79 including Shoprite Holdings and ZMW38,112,814,582.79 excluding Shoprite Holdings.



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