Business

LuSE remains bouyant

NKOLE MULAMBIA, Ndola
ZAMBIA’S capital market looks buoyant this year due to increased appetite for equity which is the net amount of funds invested in a business by its owners, plus any retained earnings.
Lusaka Securities Exchange (LuSE) business development officer Phil Daka said the capital market is looking favourable in 2017 compared to last year.
Mr Daka attributed the positive outlook to the move by the Ministry of Finance to reduce government borrowing which is likely to lead to improved appetite for equity.
He said this in a statement issued by Lafarge corporate affairs director Eugene Chungu after the firm’s shareholders’ familiarisation visit to the plant in Chilanga last week.
Mr Daka commended Lafarge Zambia for hosting the event and encouraged companies listed on the local bourse to enhance the interaction and exchange of information with shareholders beyond merely having the annual general meetings.
And Lafarge Cement Zambia Plc has projected investment opportunities in the cement retail business this year due to the relatively positive economic outlook.
This will in turn boost shareholder value and also help to develop local retailer businesses.
Company chief executive officer Vincent Bouckaert urged shareholders to buy more shares in the company as the current trend in share performance on the LuSE is expected to rebound.
“Lafarge Zambia stock price performance is not a reflection of the value of your company today. I assure you that all the fundamentals are firmly in place. This is clear, and I encourage you to buy more shares in the company,” he said.
Mr Bouckaert said the visit was aimed to familiarise stakeholders with the company’s operations to better understand the cement manufacturing and distribution process.

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