ZAMBIA RECORDS 45.09 PER CENT RISE IN TOTAL SAVINGS WITHIN CAPITAL MARKETS IN THIRD QUARTER OF 2024
The Securities Exchange Commission (SEC) has recorded a 45.09 per cent increase in total savings within Zambia’s capital markets during the third quarter of 2024, with total savings reaching K171.9 billion by the end of September.
Here are the highlights from a media briefing held today in Lusaka;
✅SEC Chief Executive Officer Philip Chitalu attributed the growth to gains across various investment vehicles, particularly a 46.78 per cent surge in market capitalization, which closed at K166.5 billion.
✅The growth reflects investor confidence in Zambia’s financial markets and the positive impact of economic reforms.
✅Mr Chitalu says the increase in market capitalization had been driven by robust performances of leading listed companies such as Shoprite Holdings, ZCCM-IH, Puma Energy Zambia, Chilanga Cement, and Copperbelt Energy Corporation Zambia.
✅He also observed that the Lusaka All Share Index (LASI), which tracks the performance of listed equities, had risen by 15.2 per cent to close at 15,973.63 points by the end of third quarter of 2024.
✅Further, Mr. Chitalu says despite the positive trends, the SEC recorded a 23.6 per cent decline in the turnover-to-market-capitalization ratio due to reduced trading volumes and liquidity challenges.