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Zambia’s Local Bourse Thrives Amidst Challenges, Economic Expert Notes

Despite facing external pressures, Zambia’s local capital market continues to demonstrate resilience and promise, says an economic expert Mr. Kelvin Chisanga.

Mr. Chisanga highlights the bullish performance of the stock market, emphasizing the positive trajectory of the all-share index and market capitalization. In the first quarter of 2024, the Lusaka Securities Exchange (LuSE) witnessed sustained positivity, with total market capitalization reaching an impressive K97.76 billion, reflecting a notable 10.2% increase from the previous quarter.

This growth surpasses the performance of the prior year, with a significant uptick of about 2.98%. Moreover, the annual growth margin in market capitalization stands at approximately 30.26%, signaling a robust and enduring market trend.

Mr. Chisanga attributes much of this growth to the positive market performance and recent strategic acquisitions, particularly by Real Estate Investments Zambia PLC (REIZ). REIZ’s acquisition of three prominent shopping malls, including Lewanika Mall and Jacaranda Mall, has bolstered investor confidence and injected vitality into the market.

Key stocks such as Stanchart, Zanaco, CEC, and Shoprite have emerged as leaders, driving market momentum and attracting investor interest. Additionally, the surge in retail participation, facilitated by mobile applications, has further enriched trading dynamics, democratizing access to the capital market.

Mr. Chisanga commends LuSE’s proactive approach in disseminating information on daily transactions, emphasizing the exchange’s commitment to transparency and stakeholder engagement. Through various communication channels, LuSE aims to ensure that market participants are well-informed, contributing to a more vibrant and inclusive marketplace.

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