The Lusaka Stock Exchange now called Lusaka Securities Exchange Plc (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 it’s first two years of operation the LuSE and Securities and Exchange Commission (SEC) are 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 programme. The LuSE is made up of stock broking corporate members and is incorporated as a non – profit limited Liability Company.
The formation of the Exchange is part of the government’s economic reform programme aimed at developing the financial and capital market in order to support and enhance private sector initiative. The Lusaka Securities Exchange is 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 is to facilitate the divestiture of Government ownership in parastatals and realisation of the objectives of creating a broad and wide shareholding ownership by the citizenry via a fair and transparent process.
Modern Stock Exchange.