LuSE
LUSAKA SECURITIES EXCHANGE KEY FIGURES
| Established | Trading Began | Regulator | Listed Companies |
|---|---|---|---|
| 1993 | February 21, 1994 | Securities and Exchange Commission | 23 |
The Lusaka Securities Exchange was established in 1993 with preparatory technical assistance from the International Finance Corporation and the World Bank, opening for trading on February 21, 1994, and today lists 23 companies across equity, debt and exchange-traded products.
The Exchange was created as part of the Zambian government’s economic reform programme, intended to attract foreign portfolio investment, facilitate the divestiture of government ownership in state-owned enterprises, and build broad citizen shareholding, and it now operates under a state-of-the-art trading, clearing and settlement platform regulated by the Securities and Exchange Commission.
History and Establishment
The Lusaka Stock Exchange was established with preparatory technical assistance from the International Finance Corporation and the World Bank in 1993, and opened for trading on February 21, 1994[1]. In its first two years of operation, the Exchange and the Securities and Exchange Commission were funded by the UNDP and the Government of Zambia as part of a multi-component private sector development programme[1]. The Exchange’s formation was part of the government’s broader economic reform programme, intended to develop the financial and capital market to support private sector initiative, attract foreign portfolio investment by establishing Zambia as an emerging capital market, facilitate the divestiture of government ownership in parastatals, and build broad, wide shareholding ownership among Zambian citizens through a fair and transparent process[1].
Market Structure and Products
The Exchange operates a broad range of equity, fixed income, and exchange-traded fund and exchange-traded product instruments[1]. On the debt side, it lists corporate bonds issued by companies for strategic financing needs, government bonds issued by the Republic of Zambia and facilitated by the Bank of Zambia, and green bonds, whose proceeds must be committed to environmental or climate-related projects under Securities and Exchange Commission guidelines and the Exchange’s own Bond Listing Rules[2]. Trading, clearing and settlement run on a system supplied by Securities and Trading Technology, supporting multi-asset trading and clearing including derivatives, direct market access for investors through their brokers, online investor access to Central Securities Depository accounts, and built-in market surveillance and market-making capabilities[1]. The Exchange’s activities are regulated by its own rules and by-laws alongside the rules, orders and guidance of the Securities and Exchange Commission[1].
Current Market Activity
As of August 25, 2026, the Exchange’s benchmark LuSE All Share Index stood at 26,388.71, with total market capitalisation of ZMW 337.5 billion including Shoprite Holdings or ZMW 147.4 billion excluding it, across 23 listed companies spanning sectors from mining and banking to brewing and telecommunications[3]. Reinsurer Klapton Re was the most recent listing, joining the board in March 2026, following DotCom Zambia’s December 2025 debut as the first listing on the Exchange’s Alternative Market[4]. Current daily trading data, index levels and the full company roster are covered on the dedicated Capital Markets page[3].
Investment Opportunities
The Exchange’s founding mandate, facilitating divestiture of state-owned enterprises and building broad citizen shareholding, together with its more recent Alternative Market segment for smaller or newer listings such as DotCom Zambia, point to two distinct routes onto the bourse: established privatisation-linked counters and a lighter-touch board for growth companies[1][4]. The Exchange’s own bond market, spanning corporate, government and green bonds, also offers a fixed-income route into Zambian capital markets distinct from the equity board[2].
Last Update: September 2026
