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The Lusaka Securities Exchange (LuSE) has been ranked among the top five best-performing stock exchanges in Africa, buoyed by positive impacts of Zambia’s debt restructuring and a strong macroeconomic environment.
Speaking at the Market Review Breakfast Event at Quorum in Lusaka on Thursday, LuSE Chief Executive Officer, Nicholas Kabaso, highlighted the local bourse’s competitive performance across the continent.
“As of late in the year, the All-Share Index for LuSE at 45 percent places us in competition to be among the top five best-performing markets in Africa, both in U.S. dollar and local currency terms,” Kabaso said.
He noted that as of September, LuSE ranked number one in both Kwacha and dollar terms.
However, the recent depreciation of the Kwacha pushed the exchange to third place, with Kenya and Malawi occupying the first and second spots, respectively.
Despite this, Kabaso expressed confidence that LuSE would close the year within the top five and maintain its positive trajectory into 2025.
“We want to continue building on the momentum established this year,” he said.
On initial public offerings (IPOs), Kabaso revealed that the exchange is actively engaging with several companies interested in listing.
While some were initially expected to list this year, their plans have been deferred to next year.
“We remain optimistic that we may see one or two new companies listing next year,” Kabaso stated.
The event, held at the Quorum in Kabulonga, was organized by First National Bank (FNB) and LuSE.
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