Zambian Stock The Best-Performing in Africa

Zambia’s stock was the best-performing African stock index in 2022.

The Lusaka Securities Exchange All Share Index, a measure of the performance of 22 important Zambian stocks, is set for a second consecutive year of gains.

The Index climbed 12%, making it the best-performing national index on the continent.

The Copperbelt Energy Corporation, a Zambian electricity generation and supply company contributed most significantly to the index’s impressive rise.

According to a sector report from previous years, the corporation provides approximately a third of Zambia’s energy supply to its customers.

It’s stock currently holds at K3.78, a remarkable 42.64% rise across 2022.

Analysts put the stock’s resurgence largely down to the resolution of tensions between the firm and the government of Zambia. The dispute, now settled, centred around the firm’s attempts to recover outstanding debt from Konkola Copper Mines (KCM) and state utility Zesco.

Since the dispute’s resolution, local investors have heavily re-invested in the stock. The Hichilema administration is perceived as investor-friendly as they try and create rapid economic transformation in the country and maintain 4% year-on-year growth heading into 2023.

Charles Mate, founder of Stockbrokers Zambia Ltd. Is optimistic about the exchange’s prospects.

“What we have seen really is a resurgence in terms of investor interest, especially from the domestic market. This stock still has significant upside,” he commented.

Mate, one of the founders of the Lusaka stock exchange, established in 1994, believes stocks on the index remain significantly undervalued and that continued growth remains likely should external factors remain steady.

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