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Zambia’s corporate bond market experiences impressive 39% growth in Q2 2023

Zambia’s corporate bond market witnessed remarkable growth in the second quarter of 2023, with a surge of 39%, translating to an impressive K627 million, according to the Securities and Exchange Commission (SEC). This substantial increase is attributed to the issuance of new corporate bonds, outstripping the K450 million recorded in the first quarter of the year.

Speaking at a press briefing in Lusaka, Mr. Philip Chitalu, Chief Executive Officer of the Commission, revealed that corporate bond maturities during the same period amounted to K2.7 million, showcasing the robustness and dynamism of Zambia’s corporate bond market.

Moreover, Mr. Chitalu emphasized the Commission’s unwavering commitment to advancing the formation and successful implementation of the capital market master plan, which was inaugurated earlier this year. This strategic initiative aims to bolster the growth and sustainability of Zambia’s capital markets, attracting both domestic and international investors.

In a forward-looking statement, Mr. Chitalu stated that the Commission is actively engaged in raising awareness about Zambia’s upcoming foray into the green bonds arena. Green bonds represent a novel financing avenue for environmentally friendly projects. Zambia’s entry into this market underscores its dedication to sustainable development and environmentally responsible investment.

As Zambia continues to make significant strides in its corporate bond market, investors and stakeholders are closely monitoring the opportunities and developments that this burgeoning sector offers, further solidifying the country’s position in the global financial landscape.


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