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Patricia Inonge M., Copenhagen, Wednesday, 19 July 2024 — According to Grandview Research, the global jewellery market, currently valued at over $350 billion, is projected to grow at a compounded annual growth rate of 4.7%, reaching $482 billion by 2030. For Zambia, a key supplier of gemstones for jewellery manufacturing, the biggest challenge and opportunity lie in adding value locally to benefit from this growth. The resilience and promise of the global jewellery industry are evident across various economic conditions. A 2014 McKinsey report predicted significant growth for the sector, with annual global jewellery sales reaching €250 billion by 2020. In response, Indian jewellers crafted a comprehensive export strategy in 2017, aiming to achieve $60 billion in jewellery exports within five years. This strategy, driven by both private and public sectors, can serve as a valuable case study for Zambia.

Yesterday, the LuSE participated at a round table meeting facilitated by the Millenium Project Completion Agency Zambia (MPCA- Zambia), on behalf of the Zambian Government, in collaboration with the Millenium Challenge Corporation (MCC). The meeting was aimed at discussing the catalytic role of a commodity exchange in bringing about agricultural sector transformation in Zambia.

The LuSE made a submission on Commodity Exchange and Warehouse Receipts – Perceptions and Opportunities. Making the submission the LuSE CEO, Mr. Nicholas Kabaso, highlighted that creating a functional and trusted commodities exchange was a game changer for Zambia. He indicated that it would assist reduce uncertainty for farmers and increase efficiency in agricultural markets for either spot or derivative markets. He further submitted that an efficient commodity trading platform has huge potential of reducing post-harvest losses, estimated within the region at 15-20% to a storage loss of about 1%, which may anchor prospects of contributing significantly to increased volumes towards food security or export markets.

He also emphasised the need for ZAMACE and LuSE to work closely together as a way of unlocking the potential of the warehouse receipts (WRS). He indicated that the LuSE has adequate system infrastructure as well as trading platforms that would enable Zambia take off commodity trading in a manner that will encourage increased participation as well as unlock further opportunities on the futures market.

Just read an insightful report on African startup funding in H1 2024 by @TheBigDeal.

Some key takeaways:

• Total funding: $780M, down 57% from H1 2023

• Kenya leads with $244M (32%), followed by Nigeria $172M (23%)

• Transport & Logistics sector tops at $218M (28%), with FinTech close behind at $186M (24%)

• 85% of funding went to startups with no female founders

Despite the overall decline, it's encouraging to see sectors like mobility tech gaining traction. However, the persistent gender gap in funding is concerning.

What are your thoughts on these trends? How can we foster more inclusive growth in Africa's start-up ecosystem?


#AfricanStartups hashtag

#VentureCapital hashtag

#TechInnovation hashtag


Getting selected into one of the most prestigious accelerator programs has to be one of our major highlights this year. 🥳💯

The selection process was quite rigorous, meaning that our acceptance wasn't arbitrary.

SundryAgro is on a mission to open up channels for both local, intra-African trade through Agri eCommerce as well as export of quality farm produce into the international market.

Our goal is to catalyze economic growth by opening up new markets for smallholder farmers, ultimately solving the problem of post-harvest losses.

Our sincere appreciation goes to @africatechstartupforum and UVU Africa for providing such a platform for start-ups in hashtag

#Africa to grow and scale.

We keep building!🚀🚀

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On Tuesday, July 9th, the board and management of Access Bank Plc will be at the Exchange for a ‘Facts Behind the Rights Issue’ presentation.

Join us as the leadership of Access Bank Plc will discuss the opportunities available to investors through its capital-raising exercise.







Tuesday, 9th July, Mwango Capital will host a Twitter Space featuring Frank Mwiti, CEO of the Nairobi Securities Exchange PLC. Join the conversation for key insights on Kenya's stock market.



Bank of Ghana Clarifies Roles of FinTechs and MTOs in Remittance Process.

The Bank of Ghana has clarified that local FinTech companies authorized by the Central Bank do not directly mobilize foreign exchange from abroad. Instead, this responsibility lies with Money Transfer Operators- MTOs located overseas, which handle the receipt of remittances. The funds received by MTOs are deposited into the nostro accounts (a bank account that a domestic bank holds in a foreign bank, denominated in the foreign bank's local currency) of local partner banks, and Fintechs manage the downstream process of payments to beneficiaries within Ghana.

Recent concerns suggested that FinTechs were holding onto foreign exchange abroad, with claims that around $12 billion in remittances to Ghana between 2018 and 2022 went untracked. The BoG refuted these assertions, particularly dismissing reports that $8 billion had been withheld by newly licensed MTOs and 11 FinTech companies over the past two years. Discrepancies between the World Bank’s remittance tracking figures and the Auditor General’s recorded amounts further fueled public confusion.


#Fintech hashtag

#Africa hashtag

#Tech hashtag


Lusaka Securities Exchange Signs MOU with TRIZET Energy to Support Zambia's Energy Demands

In a significant development, the Lusaka Securities Exchange (LuSE) has signed a Memorandum of Understanding (MOU) with TRIZET Energy Zambia Limited, a leading player in technology distribution rights for Africa. The MOU aims to support Zambia's quest to meet its energy demands by utilizing the LuSE platform for capital raising.

TRIZET Energy holds exclusive agency and distribution rights for Africa deployment of the FITS Hydrokinetic Power Plant, a recent UK-patented invention that harnesses the linear flow of a small selection of a river to generate baseload power. This innovative technology has already been successfully deployed to deliver power to a rural community.

The partnership between LuSE and TRIZET Energy will encourage and expose multiple Independent Power Producers (IPPs) to raise capital on the market via listing on the Alternative Market. This will provide a significant boost to Zambia's energy sector, which has been facing challenges in meeting the country's growing energy demands.

The LuSE is committed to providing support to TRIZET Energy as they work together to drive sustainable solutions for the energy challenges facing Zambia. This partnership sets the stage for a new era of innovation and progress in the country's energy landscape.

Key Highlights of the Partnership:

- TRIZET Energy will utilize the LuSE platform to raise capital for its energy projects

- Multiple IPPs will be encouraged to list on the Alternative Market to raise capital

- The partnership will support Zambia's quest to meet its energy demands

- The LuSE will provide support to TRIZET Energy to drive sustainable solutions for the energy challenges facing Zambia

This partnership is a significant step forward for Zambia's energy sector, and it demonstrates the country's commitment to harnessing innovative technologies to meet its energy challenges. The LuSE and TRIZET Energy are poised to play a key role in driving sustainable solutions for the energy challenges facing Zambia, and this partnership is expected to have a positive impact on the country's energy landscape.