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The Lusaka Securities Exchange (LuSE) ended 2024 with a market capitalisation of over K216 billion, marking a significant 144 percent increase from the K88 billion recorded at the start of the year.
LuSE Chief Executive Officer, Nicholas Kabaso, attributed the strong performance to the exchange’s resilience, positioning it among Africa’s top five best-performing stock markets for 2024.
“Despite the annual growth, December saw a slight dip in market capitalisation by 0.26 percent, driven by declines in Standard Chartered Bank at 24 percent and ZANACO at four percent, partially offset by gains in British American Tobacco Zambia at 15 percent and Shoprite at 1 percent,” Kabaso noted.
Pamodzi Hotels emerged as the top performer, with a staggering 551 percent increase in annual price. Other notable gains included Shoprite at 294 percent, Puma Energy at 132 percent, and British American Tobacco Zambia at 101 percent.
Additional strong performers included Bata Shoe Company (100 percent), Copperbelt Energy Corporation Zambia (95 percent), and Chilanga Cement (85 percent).
Kabaso also revealed that total turnover for 2024 reached K1.1 billion, marking the third time in five years this threshold was surpassed.
December’s turnover stood at K129 million, slightly below November’s figure.
In addition, US dollar-denominated instruments performed well, with Real Estate Investment Trust (REIT) turnover rising to US$54,000 in December, bringing the yearly total to US$68,000.
Kabaso lauded LuSE’s achievements, highlighting its growing significance as a hub for investment and capital market development in the region.
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