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Zambia’s 2021 best stock market performance in Africa to attract investors

• Most Banks performed positively leading to a strong rise in share prices.
• Increase in Economic performance is another Key driver as to why investors are demanding for shares on the stock exchange.
• That should see our stock exchange grow even faster compared to previous periods.

An Economist says Lusaka Securities Exchange finishing 2021 as best performing stock market in Africa has been as a result of strong performance in the financial services industry.

Speaking in an interview with Money FM News Dr. Patrick Chileshe explained most Banks performed positively leading to a strong rise in share prices of financial services providers such Zanaco Bank.

“Largely we have seen strong performance in the financial services industry where most of the banks have performed strongly and that has led to a strong rise in the share prices of financial services providers.” He said.

Dr. Chileshe revealed that Zanaco’s share price increased by 400% in terms of the valuation of the company.

“Zanaco’s Share price has risen from K 0.047 per share and now it is trading at K2.38,” said Dr. Chileshe.”

He adds that increase in Economic performance is another key driver as to why investors are demanding for shares on the stock exchange.

According to Dr. Chileshe, “Shares tend to perform well when the economy is expected to rebound and start performing better.”

Dr. Patrick Chileshe further noted Zambia’s stock exchange being the best performing in Africa, investors will look at the country as an important investment destination.

“It as a very important milestone that Zambia’s Stock exchange is one of the best performing in Africa in the sense that this is going to drive investment over into Zambia.”

“In other words investors are going to look at Zambia as an important investment destination and that should see our stock exchange grow even faster compared to p-previous periods,” he stated.

The Lusaka Securities Exchange in Zambia finished 2021 as the best-performing stock market in Africa, registering a 93.2% gain in U.S. dollars for investors while Ghana’s exchange finished second, recording a 38.59% gain in U.S. dollars and Malawi stock exchange posted a 32.24% gain, good enough for third.

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