Lusaka Securities Exchange Plc.
History of the Lusaka Securities Exchange Plc.
The Lusaka Securities Exchange Plc. (LuSE) was established in 1993 through the collaborative efforts of the International Finance Corporation (IFC) and the World Bank. these two organizations provided the technical support during establishment of the LuSE.
LuSE opened its doors for business on 21st February 1994. The establishment of the Lusaka Securities Exchange Plc. was part of government’s broader economic reforms aimed at stimulating a dynamic private sector to be the primary engine for economic growth in Zambia. It was also motivated by the need to deepen awareness and understanding of financial and capital markets in support of the emerging private sector.
Mandate of the Lusaka Securities Exchange Plc.
The 1972 Securities Act revised to facilitate the establishment of the Securities Exchange. It was structured around models of a modern Stock Exchange with automated clearing and settlement facilities through a Central Securities Depository (CSD). The Government of the Republic of Zambia (GRZ) provided grant financing to LuSE from 1993 till 2009. Subsequently, GRZ stopped providing support and LuSE became totally dependent on its listed companies to generate operational revenues. The sustainability of LuSE became dependent on increasing the number and size of companies that listed on the Exchange.
The Lusaka Securities Exchange Plc. (LuSE) is the principal stock exchange in Zambia. The LuSE is a legally mandated company or corporate entity whose main activity is the operation of a securities exchange for dealing in shares, bonds, and other securities in accordance with the Securities Act No. 38 of 1993. It was founded in 1993 in Lusaka. The Exchange opened on 21st February 1994.
The LuSE’s core mandate is to provide a fair and efficient platform through transparent and equitable trading of the listed securities. LuSE contributes to wealth development, financial services and a platform for investment for foreign and local investors. It provides a platform where companies can raise long term capital and secondary trading of shares. LuSE also provides facilities for the listing of securities and provides users with an orderly, transparent and regulated platform to trade.
LuSE Mission Statement
To provide investors, businesses and other issuers with an efficient, reliable, orderly, transparent and cost effective platform for the raising of capital and trading of securities.
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