THE Lusaka Stock Exchange (LuSE) will this week meet Zesco limited to engage the utility company appreciates the process of raising capital on the stock market.

LuSE wants to find out if the electricity utility has immediate capital raising projects that require cheap funding.

Speaking in an interview, LuSE general manager, Beatrice Nkanza said she was surprised to learn that Zesco cannot raise capital from the capital market because they were of the opinion that it was expensive.

She was reacting to Zesco comments last week that raising capital on LuSE was expensive as compared to banks.

“The notion that LuSE fees are expensive is a bit blanket. There is cost of doing business everywhere and to isolate LuSE and say its expensive is incorrect,’’ she said.

Mrs. Nkanza said expenses incurred by companies when rising funding on the exchange were not LuSE expenses per se.

She cited the Securities and Exchange Commission (SEC) as the first entry point when a company wanted to either list or rise capital.

She added that SEC had its own cost structure and once this was done, there was also a brokerage service that was offered to the intending issuer.

The brokerage service is a package of services that ranges from accounting, lawyers and brokers.

She stated that at each stage, parties were free to negotiate before they reached the exchange for assessment of application and approval for listing.

Mrs. Nkanza however pointed out that there was need to sensitize the masses on LuSE as a cheaper source of income.

She stated that if financial institutions like the Development bank of Zambia and Barclays bank of Zambia could raise bonds on the capital market, it simply showed that the exchange was a cheaper source for developmental projects.

“We would like Zesco to come on the market and be part of the change going on in the capital market. In the recent past, we have seen Chilanga cement raise K200 billion on LuSE,’’ she said.

Mrs. Nkanza pointed out that it would be a good start for Zesco to go on the capital market and raise some of the funds it required for its projects in order to meet the looming power shortage in the country.

Government says the Common Market for Eastern and Southern Africa (COMESA) and Southern Africa Development Community (SADC) has started discussion on harmonisation of  polices  in the management of the fishing industry.

Agriculture and Co-opertives Minister Ben Kapita observed that the fish ban was not
effective because countries would enforce such mesaures at  different times.

With such discussions, Mr. Kapita was optimistic that the management of the industry
would now be effective.

The allocation of about K25.7 in this years budget, the Minister said would further
help adddress  transport woes which was an impediment in monitoring the exercise and
to undertake sensitisation  programmes.

He said Government would before embarking on the restocking exercise, educate people
on the danger of using bad fishing methods that have led to fish depletion in the
rivers.

The Minister said with resources available in this year’s budget, his ministry will
employ more staff to conduct sensitisation programmes.

He was giving a supplementary answer to Roan Member of Parliament (MP) Chishimba
Kabwili who asked Government on the effectiveness of the fish ban taking into
consideration that the programme was not conducted at the same time with countries
that share rivers with Zambia.

Earlier, Agriculture Deputy Minister Albert Mulongo said the ministry would
undertakerestocking of fish in Western Province after assessing the levels of fish
in baroste plains.

He was responding to Luena MP  Charles Milupi  who asked Government when it will
start the fish restocking in Western Province especially  in the Barotse plains.

Meanwhile, Local Government and Housing Minister Syliva Masebo told Parlimaent that
the National Housing Authority (NHA) built a total of 650 houses between 2004 to
2006.

She said the houses  which included low, medium and high costs were built at  Bennie
Mwiinga , Ibex Hill, Nyumba Yanga in Lusaka and Ndola Twapia township.

The Minister said although the programme is supposed to be countrywide, NHA had
started with the urban areas where there is demand for accomodation .

Ms. Masebo said as a measure to expedite the construction of houses, Government had
last year directed all local authorities to identify pieces of land  for the
construction of  houses.

She said Government has further come up with a munucipal bond through which it hopes more houses would be constructed.