Lusaka Stock Exchange

The Lusaka Stock Exchange (abbreviated to LuSE) is the principal stock exchange of Zambia. Founded in 1993, it is located in Lusaka. The LuSE is a member of the African Stock Exchanges Association.

Lusaka Stock Exchange
TypeStock Exchange
LocationLusaka, Zambia,
Founded21 February 1994

History

The Lusaka Stock Exchange (LuSE) was established with preparatory technical assistance from the International Finance Corporation (IFC) and the World Bank in 1993. The Exchange opened on 21 February 1994. In its first two years of operations, the LuSE and Securities and Exchange Commission (SEC) were funded by the UNDP and Government of Zambia as a project for financial and capital market development in Zambia, under the multi-component private sector development program.

The formation of LuSE was part of the government’s economic reform program aimed at developing the financial and capital market in order to support and enhance private sector initiative. It was also expected to attract foreign portfolio investment through recognition of Zambia and the region as an emerging capital market with potentially high investment returns. Another important role of LuSE was to facilitate the divestiture of Government ownership in parastatals and realization of the objectives of creating a broad and wide shareholding ownership by the citizenry via a fair and transparent process.

The LuSE has made great strides since inception. It is now more than a platform for trading shares and bonds, as demonstrated by some companies from across the spectrum of industry that have used it to raise the public capital for expansion.[1]

Mission Statement

To provide investors, businesses and other issuers with an efficient, reliable, orderly, transparent and cost effective platform for the raising of capital and trading of securities.

Mandate

The 1972 Securities Act revised to facilitate the establishment of the Securities Exchange. It was structured around models of a modern Stock Exchange with automated clearing and settlement facilities through a Central Securities Depository (CSD). The Government of the Republic of Zambia (GRZ) provided grant financing to LuSE from 1993 till 2009. Subsequently, GRZ stopped providing support and LuSE became totally dependent on its listed companies to generate operational revenues. The sustainability of LuSE became dependent on increasing the number and size of companies that listed on the Exchange. [2]

The LuSE’s core mandate is to provide a fair and efficient platform through transparent and equitable trading of the listed securities. LuSE contributes to wealth development, financial services and a platform for investment for foreign and local investors. It provides a platform where companies can raise long term capital and secondary trading of shares. LuSE also provides facilities for the listing of securities and provides users with an orderly, transparent and regulated platform to trade.[3]

Market listings
as of October 2010[4]
Number Symbol Company Notes
1. AELZ African Explosives Zambia Explosives
2. BATA Zambia Bata Shoe Company Footwear
3. BATZ British American Tobacco Zambia Plc. Tobacco products
4. BPZAM BP Zambia Petroleum products
5. CCHZ Cavmont Capital Holdings Zambia Banking, Finance
6. CEC Copperbelt Energy Corporation Electricity
7. CELTEL Zain Mobile telephony
8. Lafarge Lafarge Cement Cement
9. FARM Farmers House Plc Real estate
10. FARMPREF Farmers House Preferred Real estate Preferred stock
11. INVESTRUST Investrust Bank Banking, Finance
12. NATBREW National Breweries Alcoholic beverages
13. PAMODZI Pamodzi Hotels Lodging
14. SCZ Standard Chartered Bank (Zambia) Plc. Finance, Banking
15. SHOPRITE Shoprite Holdings Supermarkets
16. ZAMBEEF Zambeef Products Plc. Livestock & Livestock products
17. ZAMEFA Metal Fabricators of Zambia Plc Metal fabrication, Steel
18. ZAMBREW Zambian Breweries Alcoholic beverages
19. ZCCM-IH ZCCM Investment Holdings Copper
20. ZANACO Zambia National Commercial Bank Banking, Finance
21. ZSUG Zambia Sugar Sugar
22. ZSLA Zambia Sugar Rights Issue Sugar
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See also

References
  1. "LuSE". www.luse.co.zm. Retrieved 2020-05-28.
  2. "LuSE". www.luse.co.zm. Retrieved 2020-05-28.
  3. "LuSE". www.luse.co.zm. Retrieved 2020-05-28.
  4. "LuSE". www.luse.co.zm. Retrieved 2017-08-16.
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