Lusaka Stock Exchange
|Lusaka Stock Exchange|
|Founded||21 February 1994|
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.
- as of October 2010