ZCCM-IH Reaches $1 Billion Market Capitalisation

ZCCM Investment Holdings Plc has reached a market capitalisation value of one billion U.S. dollars on the Lusaka Securities Exchange (LuSE).

This milestone, representing the total value of ZCCM-IH shares on the LuSE was announced during a bell-ringing ceremony jointly hosted by ZCCM-IH and the Exchange.

Speaking at the ceremony, Mines Minister Paul Kabuswe said the achievement demonstrates investors’ confidence in ZCCM-IH, anchored on the government’s stable policy environment.

Mr Kabuswe said growth in the mining sector has created widespread economic optimism, with stability being achieved through deliberate actions.

“This milestone is not only a reflection of the company’s financial prowess but also a demonstration of their commitment to driving national development, but also the enabling business environment that instils investor confidence. As government, we have implemented various reforms to enhance the investment climate, including tax incentives and infrastructure upgrades. These efforts have yielded positive results, and we are excited about the prospects of our mining sector,” he said.

ZCCM-IH Board Chairperson Phesto Musonda described the milestone as a testament to the resilience and transformation of the company since its inception.

“This moment is more than just a financial achievement; it is a testament to the resilience and transformation of ZCCM-IH since 2021. From guaranteeing a $1.7 billion Glencore debt in 2020, to a now strengthened balance sheet having resolved and unlocked Mopani and thus charting a new growth trajectory, ZCCM-IH has indeed emerged as a giant on the Lusaka Securities Exchange. In the past eight months, the ZCCM-IH share price has gained 131 percent from K65 in January this year, to K150 per share as of yesterday. It is this yesterday’s share price that has enabled ZCCM-IH’s market capitalization to have increased to US$1.02 billion,” he said

Mr Musonda added that the $1 billion market capitalisation was a culmination of a clean balance sheet.

“As we celebrate this $1 Billion market capitalisation milestone, we do so with pride, humility and renewed commitment. ZCCM-IH will continue to deliver value, pursue growth opportunities, and play its role in driving Zambia’s industrialization and economic transformation agenda. Crossing the $1 billion market capitalisation threshold is a defining moment for ZCCM-IH. It is the culmination of a cleaned balance sheet, a focused strategy, diversified revenue models, and a supportive environment.”

Meanwhile, LuSE Chief Executive Officer Nicholas Kabaso praised the development as a significant step for Zambia’s capital markets.

Mr Kabaso said the milestone sends a positive signal to both domestic and international investors about Zambia’s potential.

Stockbrokers Zambia Managing Director Jack Kanyanga, the sponsoring broker, described the achievement as remarkable, as it underscores Zambia’s resilience and economic growth potential.