Atlas Mara in talks to buy Finance Bank Zambia
Atlas Mara Ltd., the company co-founded by Bob Diamond to invest in African financial businesses, is in talks to buy Finance Bank Zambia Plc, according to three people with knowledge of the matter. Negotiations began as early as March, two of the people said, asking not to be identified because they’re not authorized to comment on the talks. (Read more)
ZESCO to cut as much as 600 MW of power as a consequence of low water levels at dams
Zambia will probably cut power generation by more than a quarter as poor rainfall causes dam levels to drop in Africa’s second-biggest copper producer, Mines, Energy and Water Development Deputy Minister Charles Zulu said. The country may reduce power supply by as much as 600 megawatts from about 2,200 megawatts, he said Tuesday by phone. (Read more)
The following is a brief presentation making the case for the Government to issue a third Eurobond for investment into 4 key areas:
Lafarge Zambia (LUSE: LAFARGE) reported a 25% year-on-year increase in net profit to K424 million in financial year (FY) 2014. Earnings Per Share (EPS) was up to K2.12 (K1.69 in 2013):
It is no secret that the Government has made revamping and expanding the road network in Zambia a huge priority. They have staked $5.8 billion on the flagship ‘Link 8,000’ project which is set to improve and expand a road infrastructure network which has been lacking for decades. Two types of companies are winning; the contractors who do the actual construction and consultants who do the design, feasibility studies and supervision of the works.
As of the July 2014 update from the Road Development Agency (RDA), there were 21 on-going works contracts under phase one of the Link 8,000 project with a combined awarded contract value of approximately K8.15 billion ($1.35 billion) to various companies broken down like this:
Last year, Zambia put its hat in the ring to bid for the right to host the 2019 edition of the Africa Cup of Nations (AFCON). Last week, Confederation of African Football (CAF) inspectors were in the country to assess Zambia’s facilities. The decision as to which country will host the 2019 as well as the 2021 edition of the competition will be announced next month at a meeting of the CAF executive in Cairo. So what happens IF they choose Zambia’s bid?
*THE ESTIMATES BELOW ARE CONSERVATIVE AND BY NO MEANS EXHAUSTIVE – THEY ARE MEANT TO GIVE GENERAL PICTURE OF WHAT HOSTING AFCON 2019 COULD BE LIKE FOR ZAMBIA.*
$10m Twin Palm shopping mall open for business
The Twin Palm shopping mall opened its gates to customers last week. It cost $10m to develop over a period of two years by PMTP Zambia and will be managed by Knight Frank Zambia. The mall has 26 stores with a combined workforce of 500 and boasts Shoprite as its anchor tenant. The shopping mall is adequately positioned to cater to residents of Ibex Hill, Avondale, Salama Park and Chainda.
CAF inspectors in town to assess Zambia’s 2019 AFCON bid
Inspectors from the Confederation of African Football (CAF) are in town from the 9th to the 15th of August in order to assess Zambia’s bid to host the African Cup of Nations (AFCON) in 2019. The inspectors will be visiting various stadia, training facilities and accommodations in Lusaka, Ndola, Kitwe, Chingola, Chililabombwe and Livingstone. Zambia is one of five bidders looking to bring home the 2019 AFCON - Guinea, Ivory Coast, Algeria and Cameroon (DRC withdrew their bid). The CAF executive will decide on the hosts for 2019 as well as 2021 in September 2014 at a meeting in Cairo.
African Development Bank (AFDB) president pays Zambia a visit
African Development Bank (AFDB) president Donald Kaberuka was in Zambia last week to inspect the ongoing works on a few of the diverse projects that the bank has had a role in funding. The project sectors rang from agriculture to infrastructure.
Trying to decipher this puzzle that is Zambia by using a variety of publicly available data (structured and unstructured) in conjunction with my own skill/experience. * * *