( 4 minutes read)
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Declining sales and revenue volumes have pulled down earnings per share for Zambian Breweries Plc for the period ending June 30. The basic earnings per share are expected to be 108 percent lower than those of the corresponding period last year.
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ABSA Bank Zambia Plc has applied for K1.2 billion to the Bank of Zambia (BoZ) for accessing the coronavirus stimulus package. Absa’s managing director Mizinga Melu said it is necessary that entrepreneurs and individuals take advantage of the facility to cushion the impact of COVID-19 on the economy and households. BoZ has set apart the K10 billion COVID-19 stimulus package for onward lending to various sectors which are hard-hit by the pandemic.
· Improved copper price on the London Metal Exchange (LME) has helped Zambia’s refined copper exports. It has risen to over 78,000 metric tonnes in July from 61,000 metric tonnes in June. Copper prices on LME increased by 10.6 percent to US$6,353.8 per metric tonne in July from US$5,742.4 per metric tonne in June. Traditional Exports (TEs) earnings increased by 29.5 percent to over K8.8 billion from about K6.7 billion.
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SUPPLY of soya beans will reduce as stocks held by farmers have dwindled and this will result in the price of soya meal increasing from the current US$460.. The stocks have reduced as most soya beans farmers have sold the commodity to crushers and traders. Soya meal is trading at US$460 per tonne with some crushers selling at US$400, stating they are trading at export parity into Kenya.
