Resuscitation Of TAZAMA, INDENI To Stabilize Fuel Prices – Lusaka Times
The Luapula Chamber of Commerce says it is optimistic that measures underway by Government and its stakeholders to revamp the Tanzania Zambia Mafuta (“TAZAMA”) pipeline and redesign Indeni Petroleum Refinery (“Indeni”) operationalizations into active service will ease the cost of doing business in the country as fuel prices will drop to a stable projection.
Interest Rates Adjustment On Loans Due To MPR Will Affect Everyone – News Diggers
The Bankers Association of Zambia (“BAZ”) says the adjustment of interest rates on loans following the increase in the Monetary Policy Rate (“MPR”) will pose a challenge to individuals with fixed incomes as well as businesses. Following the Bank of Zambia’s move to increase the Monetary Policy Rate from 9% to 9.25% a fortnight ago, various banks have been sending message alerts to their customers, informing them that the development will either increase loan tenor or monthly installments. In a notice to its customers, Atlas Mara Bank said the interest rates on all loans linked to the MPR including personal loans will be adjusted upwards by 0.25 percent effective March 1, 2023.
CCPC Records 25% Rise In Business Mergers – Times Of Zambia
Competition and Consumer Protection Commission (“CCPC”) recorded a 25% increase in the number of business mergers reviewed last year from 68 in 2021 to 85 in 2022. The increase was due to the re-opening of the global economy post the Covid-19 period. Through merger reviews, the CCPC noted that there was approximately ZMW434,435,000 (equivalent to about USD25,555,000) worth of both local and Foreign Direct Investment merger transactions. The sectors that predominantly contributed to the investments included, Banking & Finance, Retail and Wholesale, Manufacturing, Transport and Logistics, Agriculture, Real Estate, Services, Tourism and Hospitality, Health, Information and Communication Technology, Energy, Construction, Mining and Insurance. In these sectors, 3,505 jobs were created while 3,203 were maintained.
Bond Trading Summary
Bond trades of face value ZMW279,573,000 were traded in 21 trades resulting in a market value of ZMW192,280,090.
Lusaka Securities Trading Summary
In 68 trades recorded today, 1,638,557 shares were transacted resulting in a turnover of ZMW6,159,674.46. A share price gain of ZMW0.22 was recorded in SCBL. A share price gain of ZMW0.01 was recorded in ZMFA. A share price gain of ZMW0.01 was recorded in ZSUG. Trading activity was also recorded in CECZ, PUMA, ZABR, ZCCM, ZMBF, ZNCO and in CCAF on the quoted tier. The LuSE All Share Index (LASI) closed at 7,347.93 points, 1.17% up from its previous close at 7,262.89 points. The market closed on a capitalization of ZMW72,915,917,470.79 including Shoprite Holdings and ZMW38,133,232,030.79 excluding Shoprite Holdings.
