LuSE slips 0.53% as REIZ rallies 25% on local bourse

7 Views The Lusaka Securities Exchange cooled off last week, with the All Share Index excluding ZCCM-IH dropping by 0.53% week-on-week to close at 26,368.78 points, according to Stockbrokers Zambia Limited’s market commentary. Market activity also slowed, as turnover fell to ZMW 11 million, about USD 578,540, from ZMW 14.19 million, USD 746,132, the previous […]

7 Views

The Lusaka Securities Exchange cooled off last week, with the All Share Index excluding ZCCM-IH dropping by 0.53% week-on-week to close at 26,368.78 points, according to Stockbrokers Zambia Limited’s market commentary.

Market activity also slowed, as turnover fell to ZMW 11 million, about USD 578,540, from ZMW 14.19 million, USD 746,132, the previous week. A total of 949,866 shares changed hands compared to 1.74 million shares the week before.

Retail giant SHOPRITE led trading activity, accounting for 42.20% of total turnover and making it the highest contributor for the week.

In the property sector, 75,354 units of the market’s listed REIT, Real Estate USD, traded, generating a turnover of USD 8,643, equivalent to ZMW 163,900. No price movement was recorded for the REIT during the week.

The standout performer was US dollar-listed Real Estate Investment Zambia Plc, REIZ. The counter continued its three-week winning streak, gaining about 25% last week, up from 20% in the previous period, making it the lead price gainer on LuSE.

Stockbrokers Zambia attributes the rally to market optimism around REIZ’s planned $46 million acquisition of East Park Mall. Investors appear to be pricing in the potential impact of the deal on the company’s asset base and future income.

Analysts say the REIZ surge shows renewed appetite for property stocks despite the broader market slowdown, while SHOPRITE’s dominance in turnover reflects continued interest in consumer counters.

With no major price action in REITs and volumes down overall, market watchers expect direction this week to hinge on corporate announcements and liquidity levels.

Apparently, LuSE has commenced a review of its Corporate Governance Code as part of broader regulatory reforms to strengthen Zambia’s capital markets.

In a public notice dated 28th August 2026, the LuSE Secretariat said the review is aimed at ensuring the Code remains relevant, effective, and aligned with the National Corporate Governance Code, regulatory developments, and evolving national and international best practices.

According to the notice, the review will also consider emerging areas of corporate governance, including sustainability, Environmental, Social and Governance (ESG) considerations, and other developments relevant to listed companies and the capital markets.

LuSE has appointed law firm May & Co. as the legal consultant supporting the review process.

The Exchange said it is currently at the targeted stakeholder consultation stage, where feedback is being sought from key market participants and other relevant stakeholders. Following consideration of feedback, a draft revised LuSE Corporate Governance Code will be prepared and circulated for broader market consultation.

Stakeholders and interested parties wishing to provide input have been invited to submit comments to LuSE legal department.

LuSE Chief Executive Officer Nicholas Kabaso said further communication will be issued when the draft revised Code is released for public comment.

The move comes as regulators across the region push for stronger governance frameworks to boost investor confidence and align local markets with global standards.