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Daily Market News

Zambia, DRC agree on measures to end Kasumbalesa border congestion – Zambia Monitor

Zambia and the Democratic Republic of Congo (“DRC”) have agreed on immediate measures to resolve the traffic congestion along the Kasumbalesa border route, where over 1,500 trucks are currently stranded. Commerce, Trade and Industry Minister Chipoka Mulenga and Copperbelt Minister, Elisha Matambo, met with DRC Haut-Katanga Governor, Kyabula Katwe, and other officials on Sunday to address the logistical challenges. Following discussions at Kasumbalesa border post, the two governments announced resolutions to ease the congestion. “The two governments have agreed to clear 500 trucks per day and extend operating hours at Kasumbalesa Border Post, Mokambo Border Post, and Sakania Border from 06:00 to 20:00, starting Sunday 12th January 2025,” said Minister Mulenga. Minister Matambo attributed the congestion to the introduction of the Electronic Seals Clearance System and management changes on the DRC side, which caused delays in clearing transit trucks.

Blackstone-Backed Wealth Manager for India’s Rich Opens in Dubai – Bloomberg

The private wealth arm of Blackstone Incorporated-backed ASK Asset & Wealth Management Group has opened a Dubai office to cater for the wealthy Indian diaspora and international investors looking to tap the South Asian country. The new office, based in the Dubai International Finance Center (“DIFC”), will also provide access to overseas investments for its India-based clients, according to Prateek Pant, market head for Middle East and Africa at ASK Wealth Advisors DIFC Private Limited. “We are fairly confident of building a USD1 billion book out of Dubai over the next three years,” Pant said.

China’s Mega Refiners Rush for Oil to Avert Sanctions Disruption – Bloomberg

China’s state oil companies and large private refiners are snapping up crude cargoes from the Middle East and elsewhere, hastening preparation for potential disruption in fuel supply as tighter sanctions on Russia and Iran threaten to curb near-term crude flows. Companies including CNOOC, Shandong Yulong Petrochemical Co. and Jiangsu Eastern Shenghong Co. are sending out urgent inquiries to buy crude for prompt delivery, traders said on Tuesday, adding multiple grades were being considered, from the Middle East, Africa and the Americas. Cargoes for February are particularly in demand, they said. The move from some of China’s biggest oil buyers stems from concerns that small private refiners — already under pressure — could be forced to slash operating rates and cut back fuel output if they no longer have access to discounted Russian and Iranian crude.

Zambia Bonds Trading Summary

14 government bond trades were processed today with a face value of ZMW276,366,000 generating a turnover of ZMW257,700,780

Lusaka Securities Exchange Trading Summary

For ZMW denominated securities: In 138 trades recorded today 21,875 shares were transacted resulting in a turnover of ZMW224,788.66. The following price changes were recorded today: -ZMW0.01 in CECZ, -ZMW0.01 in SCBL, and +ZMW0.01 in ZFCO. Trading activity was also recorded in AECI, ATEL, CHIL, PUMA, ZABR, ZCCM, ZMBF, ZMFA, ZNCO and ZSUG.

For the USD denominated security (REIZ): No trades in REIZ took place today.

The LuSE All Share Index (“LASI”) closed at 15,362.07 points 0.04% lower than the previous trading day close. The market closed on a capitalization of ZMW215,601,645,315.66 including Shoprite Holdings and ZMW78,749,755,707.66 excluding Shoprite Holdings.