Last week Friday, the Lusaka Securities Exchange (LuSE), in partnership with FNB Zambia, hosted the Half-Year Economic and Market Review, bringing together key stakeholders from the financial sector to discuss the country’s economic and capital market outlook. In her opening remarks, FNB Zambia CEO, Ms. Kapumpe Chola, emphasized the bank’s commitment to financial inclusion and stressed the importance of increased information dissemination to enable greater market participation among Zambians. During the economic outlook presentation, FNB Zambia Economist Mr. Chileshe Moono noted that global growth expectations have stabilized. Commenting on Zambia’s fiscal stance, he highlighted that significant reforms under the IMF program have helped narrow the fiscal gap and reduce the cost of borrowing—an encouraging development for the country. The LuSE also presented a market performance review, reporting that the Exchange has experienced a remarkable year-to-date growth of 55.76%, positioning it as one of the strongest performing exchanges in Africa. Looking ahead, the Exchange remains optimistic about increased market activity, underpinned by strong performance in the mining, agricultural, and energy sectors. This outlook is further supported by an active IPO pipeline that the Exchange continues to monitor closely. A panel discussion during the event featured: 1. Mumba Musunga – Aflife 2. Elijah Kabaso – Capital Markets Association of Zambia 3. Mphaso Banda – Kukula Capital 4. Munyumba Mutwale – Moderator The panel offered a cautiously optimistic perspective on the market’s trajectory, highlighting continued strength in the mining and energy sectors. They also observed that retail market activity is expected to remain a significant and positive disruptor, contributing to the momentum currently being experienced in the market.