Financial Market updates: Zambeef drops

By Richard Akashambatwa

Zambeef (z) Limited recorded a slight drop in the share price on Lusaka Stock Exchange of Kr0.05 while National Breweries and Larfarge increased by kr0.10.

Zambeef drop in share price can be attributed to the ongoing investigations into the alleged contamination of their imported products. Trading activity also was recorded in CEC, ZANACO and PRIMA RE. A total of 4,236,428 shares were transacted in 37 trades resulting in turnover of K 3,638,383.

On Financial Markets, on 27/06/2013, Bank of Zambia offered treasury bills totaled at K338.8 Million and the allocation amounted to K 338.8 Million.

This accounts for 100% allocation on the bids offered. 91 days yield was the highest allocation with offer at K40.0million whilst allocation stood at K5.9million, the yield was paged at 7.49%.

Zambian Eye business Analysis department concluded that the Zambian financial markets have continued to grow despite political uncertainty and fiscal challenges in the economy.