Lusaka Stock Exchange
The Lusaka Stock Exchange (abbreviated to LuSE) is the principal stock exchange of Zambia. Founded in 1993, it is located in Lusaka. The LuSE is a member of the African Stock Exchanges Association. As of 14 April 2022, the LuSE has 25 listed companies with a market capitalisation of ZMW 71.69 billion (US$ 4.1 billion). History. The Lusaka Stock Exchange (LuSE) was established with preparatory technical assistance from the International Finance Corporation (IFC) and the World Bank in 1993. The Exchange opened on 21 February 1994. In its first two years of operations, the LuSE and Securities  and Exchange Commission (SEC) were funded by the UNDP and Government of Zambia as a project for financial and capital market development in Zambia, under the multi-component private sector development program. The formation of LuSE was part of the government’s economic reform program aimed at developing the financial and capital market in order to support and enhance private sector initiative. It was also expected to attract foreign portfolio investment through recognition of Zambia and the region as an emerging capital market with potentially high investment returns. Another important role of LuSE was to facilitate the divestiture of Government  ownership in parastatals and realization of the objectives of creating a broad and wide shareholding ownership by the citizenry via a fair and transparent process. The LuSE has made great strides since inception. It is now more than a platform for trading shares and bonds, as demonstrated by some companies from across the spectrum of industry that have used it to raise the public capital for expansion. In January 2022 it was reported that the LuSE topped the list of the Best performing exchanges in Africa with a 93.2% gain. In March 2022, the LuSE launched the online GEM Portal , an initiative approved by the Securities and Exchange Commission of Zambia to provide start-ups, small and medium businesses with access to funding to assist the growth of new business ventures and rebuild businesses impacted by the Covid-19 pandemic. Mission Statement. To provide investors, businesses and other issuers with an efficient, reliable, orderly, transparent and cost effective platform for the raising of capital and trading of securities. Mandate. The 1972 Securities Act revised to facilitate the establishment of the Securities Exchange. It was structured around models of a modern Stock Exchange with automated clearing and settlement facilities through a Central  Securities Depository (CSD). The Government of the Republic of Zambia (GRZ) provided grant financing to LuSE from 1993 till 2009. Subsequently, GRZ stopped providing support and LuSE became totally dependent on its listed companies to generate operational revenues. The sustainability of LuSE became dependent on increasing the number and size of companies that listed on the Exchange. The LuSE’s core mandate is to provide a fair and efficient platform through transparent and equitable trading of the listed securities. LuSE contributes to wealth development, financial services and a platform for investment for foreign and local investors. It provides a platform  where companies can raise long term capital and secondary trading of shares. LuSE also provides facilities for the listing of securities and provides users with an orderly, transparent and regulated platform to trade. Alternative Market. In May 2016 the Lusaka Stock Exchange announced the introduction of the LuSE Alt-M, an alternative market for small and medium sized enterprise to participate in.