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The Zambia Chamber of Commerce and Industry (ZACCI) has praised ZCCM Investments Holdings Plc’s (ZCCM-IH) achievement of a US$1 billion market capitalisation on the Lusaka Securities Exchange (LuSE), calling it a landmark that signals growing investor confidence and the maturity of Zambia’s capital markets.
ZCCM-IH last week became only the second company on the local bourse to surpass the billion-dollar mark, following Copperbelt Energy Corporation (CEC) in 2014.
ZACCI President, Anthony Kabaghe, described the milestone as not only a corporate triumph but also an important economic indicator.
“This reinforces the importance of supportive policies, investor confidence, and strategic corporate ambition.
“Notably, ZACCI now has two member companies that have reached this significant valuation, reflecting the sophistication and potential of Zambia’s business landscape,” Kabaghe said.
He highlighted four key implications of the development: deepening market sentiment, stronger policy signals, support for economic reforms, and a catalyst for economic diversification.
ZCCM-IH’s share price has surged by 131 percent year-to-date, demonstrating strong investor appetite.
Kabaghe said this momentum indicates Zambia is transitioning from a shallow market into one capable of attracting larger pools of both local and foreign capital.
He further urged the government to entrench supportive measures, including tax incentives for listings, streamlined disclosure rules, and enhanced institutional investor participation, to enable more companies—particularly in agriculture, manufacturing, and services—to follow ZCCM-IH’s example.
The Economics Association of Zambia (EAZ) also welcomed the milestone, saying it reflects prudent economic management and market growth.
EAZ National Secretary Nicolus Mainza said: “This achievement builds a good reputation for both the stock market and the economy. It enhances investor confidence, raises ZCCM-IH’s profile, and gives it leverage to attract new capital for expansion and diversification.”
He added that the success should inspire Zambians to believe in and invest more in local companies.
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