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.
Background
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 21st 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 on financial and capital market development in Zambia under the multi component private sector development program.
The formation of the Exchange 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. The Lusaka Stock Exchange 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 the Exchange 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 and in the process sustained and created new products and jobs.
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