Indo Zambia Bank (IZB) increased its investment in treasury bills and bonds by 80%, reaching ZMK 800 million in 2014.
IZB’s quarterly statement shows the company’s investment in these securities to increase from ZMK 446.88 million in 2013 has increased to K840.42 million in 2014.
According to Pangea Partners, Zambian treasury bills are now being offered at competitive pricing basis by awarding smallest discounts first and non-auction bills are available for smaller investors through non-competitive bids.
As a consequence the demand in treasury notes has increased further with their availability of maturity period of 28, 91 and 182 days.
Treasury bills are issued by the Bank of Zambia (BoZ) on behalf of Government of Zambia. Bank of Zambia holds major share of Indo Zambian bank.
