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Zambia’s capital market closed 2024 with a market capitalisation of K216 billion, marking a 29.7 percent increase from the previous year, according to the Securities and Exchange Commission (SEC).
However, excluding Shoprite, the market capitalisation declined by 3.3 percent, closing at K79 billion.
Speaking at a media briefing in Lusaka, SEC Chief Executive Officer, Phillip Chitalu, explained that the rise was largely driven by Shoprite’s 61.5 percent price increase, the highest recorded in the fourth quarter of 2024.
“Over the years, the Commission has reported market capitalisation inclusive of Shoprite, as it provides a comprehensive reflection of all listed entities in the capital market,” Chitalu said.
He noted that Zambia’s capital markets experienced a mix of price gains and losses in the fourth quarter. Shoprite’s stock price increased by K96, Chilanga Cement by K4.10, British American Tobacco by K0.89, and Bata by K0.10.
On the other hand, some companies recorded slight price declines. Standard Chartered Bank Limited fell by K0.59, National Breweries Limited by K3.45, Copperbelt Energy Corporation by K1.30, ZANACO by K0.30, and AECI Mining Explosives Plc by K3.45.
Chitalu also highlighted a decline in trading activity, stating that the turnover-to-market-capitalisation ratio dropped by 24.6 percent due to reduced liquidity.
“This decline can be attributed to reduced liquidity in the market, which has impacted trading volumes despite the overall market size,” he said.
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