Has Zamtel failed to list on LuSE?

According to the Industrial Development Corporation (IDC) […]

According to the Industrial Development Corporation (IDC) in August 2025, Zambia Telecommunications Company Limited (Zamtel) was slated to list on the Lusaka Securities Exchange (LuSE) in the first quarter of 2026 through an Initial Public Offering (IPO).

Zamtel, a telecommunications company wholly owned by IDC, reported in August 2025 that its equity restructuring would be executed in two phases, with phase one involving the IPO, while the second phase, slated for post-2027, would seek strategic partnerships to further strengthen the business.

 In March 2025, Zamtel appointed Pangaea Securities as its transaction advisers, and Pangaea submitted an inception report which received board approval, paving the way for preliminary pre-transaction activities, with shareholder approval identified as the next milestone before the listing process could move forward.

 Meanwhile, in February 2026, the Zambian Business TimesZBT reported that Zamtel had announced the postponement of its planned listing on the Lusaka Securities Exchange (LuSE), delaying an Initial Public Offering (IPO) that was originally slated for the first quarter of 2026.

And then Zamtel Head of Corporate Affairs and Public Relations, Suwilanji Siame, confirmed that while the company remained committed to its listing plans, the IPO would take place at a later date than initially communicated in August 2025.

 However, when contacted by the Zambian Business TimesZBT for an update on the listing preparations, Pangaea Securities, the transaction advisers for Zamtel, indicated that it was unable to comment at the time. ZBT also sought further clarification from Zamtel, but by press time, no official response had been received to a formal press query submitted to the company.

 Meanwhile, seven months after the listing was postponed in February 2026, ZBT contacted Zamtel through a press query to follow up on the current status of the planned LuSE listing and IPO, but the company had not responded by press time.

The planned IPO is expected to give Zambian investors an opportunity to acquire an ownership stake in one of the country’s leading telecommunications firms, while also strengthening Zamtel’s capital base and financial position.

 Article by Philip Sinkala