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List on LuSE, Chikwanda tells banks

KELVIN CHONGO, Lusaka
MINISTER of Finance Alexander Chikwanda says Government will start compelling commercial banks to list on the Lusaka Stock Exchange (LuSE).
Mr Chikwanda said Government will make it mandatory for commercial banks to list on LuSE if they are reluctant to do so on their own.
The minister said it will ease Government’s efforts to get information and check for accountability when commercial banks and companies are listed on LuSE.
He was speaking in Lusaka yesterday after receiving K150,000 in dividends from Mulungushi Village Complex Limited (MVCL).
Mr Chikwanda said he is happy that management has turned the company from loss to profit-making.
He also commended management for its intentions to list on LuSE but cautioned that the company’s balance sheet must be clean to meet stock exchange requirements.
Mr Chikwanda also said Government is happy that MVCL has been turned into a viable enterprise that will create employment.
MVCL chairman Sylvester Mashamba said the company has declared a dividend from its operations and a surplus of income to the Ministry of Finance.
Mr Mashamba said MVCL has declared a total of K150,000 in dividends and K10,000 as surplus funds from Kepa Housing operations for the financial year ending December 31, 2013.

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