The Lusaka Stock Exchange (LuSE) says there is still hope for Zambian companies especially the Small and Medium Enterprises (SMEs) to raise funds on the capital market despite the credit crunch.
LuSE general manager, Beatrice Nkanza said this in Lusaka at the first Finance, Banking and Insurance Services (FINBIS) Expo 2009 meeting organised by SS Media.
The Expo is expected to be held at Mulungushi International Conference Centre in Lusaka next month under the theme: Partnership for Wealth Creation and Protection.
Mrs Nkanza said SMEs could raise funds on the capital market through the stock exchange’s third market tier.
She said LuSE was currently sensitising the public on the benefits and how companies could apply for listing on the third tier.
She said the LuSE all Index had dropped from 4,000 points last year to 3,000 points due to the financial crisis that has hit the global economy, Zambia inclusive.
At the same function, SS Media director, Shem Simuyemba, said the objective of the expo was to provide a platform for companies to showcase their products and services to existing and potential clients.
Mr Simuyemba said the expo would be a unique marketing window to showcase the depth and diversity of the Zambian FINBIS sector.
“Zambian public particularly, SMEs do not have a good understanding of the range and diversity of services on offer from customer to the business financial services, leasing to trade finance, microfinance to personal loans, government bonds to stocks markets,” he said.
He said the pension and insurance industry was one of the least understood sectors in the country adding that both businesses and individuals needed to be sensitised to take advantage of many existing products and services to deepen the sector.
Mr Simuyemba said the expo was open to all companies and institutions in the FINBIS sector.
SS Media Group Limited has partnered with LuSE, Bank of Zambia and Pension Insurance Authority to promote the expo scheduled for April 3 to 4, 2009.
[Zambia Daily Mail]
Yabvuta iyi manje.
Hope wen the mines are being closed? God help us
Hello Zoe! Its not only in Zambia.In Australia and Neighboring SA(Albidon) mines are struglgling coz of falling world demand and prices.Here in Russia, its another disaster.Today on CNN,the IMF MD praised Zambia for its sound economic policies but pointed out the dependence of our economy on copper as the major cause of the current crisis.Let us diversify
This sector need serious attention. Stakeholders must really be well informed othewise ni panja
Yes there hope.In Zambia unlike western countries,we have real assets and the effect of the global crunch only affects our exports.
Goodbye bloggers and stay blessed.Gone for classes.Sukulu yalimba(yanunkha). Ba Matworld mudala wandi ndemiposha saana!
Hope dies last!! The Government should also continue making policies that make the economic enviroment for SMEs favourable.
Hope goes well with faith, but from the look of things, there is little to hope for at the moment in Zambia.
The sad state of affairs economic wise, have been stagnant for a significant period of time with very minimal improvements to wrtie home about.