Corporate Bond market records 1.2% growth — SEC
The Securities and Exchange Commission (SEC) has reported a modest rise in the corporate bond market, with total outstanding bonds increasing by 1.2% to K4.95 billion in the second quarter of 2025, up from K4.89 billion in the previous quarter.
According to Commission Director of Enforcement and Legal Services, Diana Sichone, the growth was supported by new issuances amounting to K51.75 million, which offset redemptions of K1.7 million and minor exchange rate fluctuations during the period.
Ms. Sichone says the secondary market for government bonds also saw increased trading activity, recording 1,960 trades a 16% rise from the previous quarter.
However, Ms. Sichone says the nominal value of bonds traded declined by 7% to K20.03 billion, while the market value dropped by 10% to K20.41 billion while Liquidity levels remained stable, with a turnover ratio of 11%, consistent with the first quarter of 2025.
Ms. Sichone has further disclosed that the number of investors in the equity market continued to rise in the third quarter of 2025, increasing from 68,492 to 75,249 investors.
She says during the same period, the equity market maintained its upward trajectory, closing with a market capitalization of K327 billion, representing a 10% increase from K296 billion recorded in the previous quarter.
Excluding Shoprite, market capitalization surged by 26% from K106 billion to K137 billion driven by strong performances in key stocks such as ZCCM (+60%), ATEL (+45%), ZSUG (+41%), and CEC (+14%).
The market capitalization-to-GDP ratio rose to 58.6%, up by 5.5 percentage points from 53.1% in the previous quarter.
Assets under management also continued to grow, reaching K3.5 billion a 7.49% increase from the previous quarter.
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