/ 28 March 1999

MINE SALE BOOSTS LUSAKA BOURSE

THE privatisation of Zambia’s mining assets has resulted in mounting optimism that the Lusaka Stock Exchange could register growth this year. The bourse’s market capitalisation for January 1999 improved to $318-million against $273-million recorded in February 1999. At its peak in 1999, LuSE registered a market capitalisation of $698-million, largely on expectations of privatisation of the mining industry. Economists said the improvement came after the Zambian government signed a memorandum of understanding with Angola American Corporation for the purchase of the Zambia Consolidated Copper Mines at Nkana, Nchanga, Nampundwe and Konkola.