ZCCM Investments Holdings Plc (ZCCM-IH) has become the second Zambian company to surpass a USD 1 billion market capitalisation on the Lusaka Securities Exchange (LuSE), following in the footsteps of Copperbelt Energy Corporation Plc (CEC), which crossed the mark just two months ago. The milestone was reached after Wednesday’s trading session, which saw ZCCM-IH’s share price jump 11.22% to close at K150.15, extending its year-to-date gain to a staggering 131%. The surge underscores ZCCM-IH’s role as a pillar of Zambia’s mining sector, at a time when optimism in the industry is on the rise. Copper production is forecast to exceed 800,000 metric tons in 2025 and is projected to push beyond 3 million metric tons in the medium term, providing a strong backdrop for the company’s growth. Turnover on Wednesday reached K15 million, driven largely by trades in Zambia Breweries, Airtel, and CEC. Notable gainers included Zambia Metal Fabricators, which soared 25% to K25.00, and Airtel, which rose 4.17% to K130.21. ZANACO added 2.68% to close at K6.12, while British American Tobacco Zambia (BATZ), CEC, and Zambia Sugar all posted modest gains. At over USD 1 billion in market value, ZCCM-IH now sits just behind CEC, which holds a market capitalisation of USD 1.7 billion. The company recently declared a dividend of K3.29 per share, equivalent to a 2.19% yield, and reported an earnings per share (EPS) of K248.70. ZCCM-IH maintains a primary listing on the LuSE, with secondary listings in London and Paris. Race to the Next Billion-Dollar Company: Analysts point out that more companies are closing in on the billion-dollar mark. Zambia Sugar (USD 609 million), Airtel (USD 578 million), and ZANACO (USD 377 million) are emerging as frontrunners in the race to join CEC and ZCCM-IH in LuSE’s elite billion-dollar club. Market Momentum Builds: The Zambian stock market has had a bullish start to 2025. Year-to-date turnover has already reached K1.6 billion, outpacing the full-year figure for 2024. The LuSE index has advanced 53% so far this year, surpassing last year’s 42% gain and reflecting growing investor confidence. Retail investors have played a significant role in this rally, accounting for 30% of turnover to date. Their participation, especially on the buy side, has boosted liquidity and contributed to stronger price movements across sectors. Looking Ahead: With momentum continuing to build, market watchers expect both institutional and retail activity to sustain growth on the LuSE. The strong pipeline of companies nearing the billion-dollar threshold suggests that Zambia’s capital markets are on the cusp of another historic chapter.