ZCCM Investments Holdings (ZCCM-IH) has achieved a significant milestone by surpassing $1 billion in market capitalisation on the Lusaka Securities Exchange (LuSE). Mines and Minerals Development Minister Paul Kabuswe said the achievement reflects growing investor confidence in Zambia’s economy.
ZCCM-IH Chairperson Phesto Musonda addressed the media on Thursday, describing the milestone as a demonstration of the company’s transformation. He noted that this achievement goes beyond financial performance, highlighting the resilience and strategic growth of ZCCM-IH since 2021. The company has strengthened its balance sheet after resolving key financial obligations, including guaranteeing a $1.7 billion debt with Glencore in 2020.
The Lusaka Securities Exchange said the milestone signals growth in Zambia’s capital market. The exchange encouraged companies to explore opportunities to tap into the expanding pool of investors, highlighting that increased market activity can support broader economic development.
Minister Kabuswe emphasized that ZCCM-IH’s progress illustrates the potential of state-owned enterprises to drive investor confidence and contribute to national economic stability. The company’s performance also demonstrates the impact of sound corporate governance and strategic financial management in improving shareholder value.
ZCCM-IH’s rise to a $1 billion market capitalisation sets a benchmark for other listed companies in Zambia and reinforces the role of capital markets in promoting investment, transparency, and long-term growth in the mining and energy sectors.