Last Thursday’s Treasury bill offer by the central bank attracted over K1.3 million at a success rate range of 14.43 percent. Recently, the bank of Zambia has come through with the Open Market Operations (OMO)
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EU pumps in €2.7m medical supplies
THE European Union (EU) has given Zambia €2.7 million (about K58 million) worth of medical supplies to help in the fight against COVID-19 in the country. The medicines and personal protective clothing which will enable health workers to continue providing other essential services while responding to the pandemic. Some of the donated commodities have been bought from pharmaceutical companies in the country as part of the EU’s contribution to boosting Zambia’s economy. Speaking during the handover of the donation yesterday, EU Ambassador to Zambia Jacek Jankowski said the Europe Global Initiative collectively pledged between €30 million and €40 million (about K650 million and K867 million) to help Zambia fight the pandemic.
Investors Shun Cheap Stocks in Nigeria as Risks Pile Up
Nigerian stocks are signaling better returns than less-risky local debt markets, where rates are at the lowest in a decade. Yet investors are shunning the opportunity, wary of a mix of domestic and external threats. Trading in equities on the Lagos stock exchange slumped 57% in June from a year earlier, figures from the bourse show. Pension fund managers aren’t favoring the market either: just 4.9% of 10.8 trillion naira ($28 billion) in retirement savings assets is invested in domestic equities, compared with 5.7% in January and an average permitted ceiling of 15%, according to pensions commission data. The benchmark Nigerian stock index is heading for an annual decline for the fifth time in the past six years.