PUBLIC ALERT – Velmont
The Securities and Exchange Commission (“the Commission”) has identified a purported investment scheme operating under the name “Velmont Gold Mining company” (Velmont). The scheme is actively promoted on social media platforms like Facebook and WhatsApp, inviting the public to invest K128 for 40-days, with a promise of earning K6.40 daily and a total pay-out of […]
Notification of Tender Awards for Insurance Services
The Commission issued Request for Proposals (RFP) for eligible Insurance firms through a competitive tender process. Following the Procurement Committee resolution and pursuant to Section 53 (1) and (2) of the Public Procurement Act 2008, the Commission is notifying you that it is considering awarding contracts to the following firms in the table below; Insurance […]
Securities and Exchange Commission (Sec) Zambia Becomes 116th IOSCO MMoU Signatory
The Securities and Exchange Commission (SEC) is one of the three financial sector regulators in Zambia with a core objective of regulating the capital markets sub-sector. The SEC is a statutory body established under the Securities Act, Cap. 354 of the Laws of Zambia and whose establishment is continued under the new Securities Act, No. […]
Notice- Extension of period of compliance with ss.146- 149
The Securities and Exchange Commission (the “Commission”) is a statutory body established under the Securities Act, Cap. 354 of the Laws of Zambia (repealed) and whose existence is continued under the Securities Act, No. 41 of 2016 (the “Securities Act”). The Commission has a statutory mandate to protect investors in the capital markets. Section 4 […]
NOTICE OF SUSPENSION OF BADEX AND PANEX
The Securities and Exchange Commission (the “Commission”) is a statutory body established under the Securities Act, Cap. 354 of the Laws of Zambia (repealed) and whose existence is continued under the Securities Act, No. 41 of 2016 (the “Securities Act”). The Commission has a statutory mandate to protect investors in the capital markets. Section 11 […]
Notice – Annual Capital Markets Operators Fees for 2020
NOTICE is hereby given to all Capital Market Operators (CMOS) that pursuant to the provisions of section 42 of the Securities Act No. 41 of 2016 as read with paragraph 10 (a) of the Third Schedule of the Securities (Licensing, Fees and Levies)(Amendment) Rules 2013, the 2020 annual fees for licensees, Issuers of securities, including […]
Notice of Licences Revoked, Cancelled and Surrendered
NOTICE is hereby given that the following licences were revoked, cancelled or surrendered pursuant to the provisions of the Securities Act, No. 41 of 2016. Therefore, the following persons are precluded from engaging in any securities business by virtue of the revocation, cancellation or surrender of the licenses:
Securities and Exchange Commission Applauds the Registration of ZAFFICO Ordinary Shares.
Lusaka/January 10, 2020. The Securities and Exchange Commission (“SEC”) is pleased to announce the approval of the registration of 400,000,000 ordinary shares for the Zambia Forestry and Forest Industries Corporation (“ZAFFICO”). The registration has enabled the undertaking of an Initial Public Offer (“IPO”) of 160,000,000 ordinary shares of the share capital in ZAFFICO to the public […]
Notice of Supervisory Possession of Madison Asset Management Company Limited
This serves to inform the Public that pursuant to Section 11(4) of the Securities Act, No.41 of 2016, the Securities and Exchange Commission (“SEC”) has temporarily taken possession of the affairs of Madison Asset Management Company Limited (“MAMCo”), a SEC-licensed entity, with effect from 2nd March 2020. The SEC is empowered under Section 11 of […]
Press Statement by SEC CEO on MAMCo Possession on 3rd March 2020
SECURITIES AND EXCHANGE COMMISSION Protecting Investors in the Capital MarketsNotice of Supervisory ActionPossession of Madison Asset Management Company Limited Lusaka, 3 March 2020-Further to the Press Release issued on 2nd March 2020, we wish to thank you all for the responses, concerns and clarity sought with regards to the supervisory action taken by the Securities […]