Stock Market Soars 15% in Second Quarter

The country’s capital markets have recorded impressive growth in the second quarter of 2025, with market capitalisation jumping 15% to reach K296.2 billion, according to the Securities Exchange Commission (SEC).

The surge has pushed market capitalisation-to-GDP ratio to 53.1%, significantly exceeding the government's Capital Markets Master Plan target of 30% by 2027. Total savings in the capital market now stand at K304.4 billion, representing 55% of GDP.

SEC Chief Executive Officer Philip Chitalu announced the figures at a media briefing on Tuesday, highlighting the continued momentum in Zambia's financial markets despite global economic uncertainties.

"The capital markets maintained strong momentum, with notable gains in equities and sustained growth in collective investment schemes," Chitalu said.

The retail investment boom has been particularly striking. Collective Investment Schemes saw their assets under management rise to K3.3 billion, driven by a 22.8% increase in investors. Much of this growth has been powered by mobile technology, with over 202,000 new local investors joining through mobile-enabled platforms, bringing the total to more than one million investors.

The success reflects broader efforts to democratise access to financial markets across Zambia. Mobile technology has proven crucial in reaching previously underserved populations, particularly in rural areas where traditional banking infrastructure remains limited.