The Lusaka Securities Exchange will introduce its first-ever exchange-traded fund before the end of October, giving Zambian investors exposure to gold. The fund is sponsored by Absa Group Ltd and will list via introduction from the Johannesburg bourse, Lu SE Chief Executive Officer Nicholas Kabaso said in an interview in the Kenyan capital, Nairobi. Gold ETFs have seen a surge in popularity in 2026, driven by rising prices and broad-based demand across geographies. Total gold held by these funds has risen 1% this year to 100 million ounces.

The exchange has also lined up five company listings in the manufacturing, mining and telecommunications industries, Kabaso said on the sidelines of an industry conference. "Potentially we might be listing two this year and then possibly push the other three to next year," he said. The initial public offerings are expected to raise about $1 billion, he said. Majority state-owned mining investor ZCCM Investments Holdings Plc is considering selling a portion of its shares to meet local requirements of having a minimum 25% free float.

The Lu SE's all-share index has climbed 1.3% so far this year, giving it an overall market value of 124.5 billion kwacha ($6.36 billion). Top gainers include Airtel Networks Zambia Plc, Zambia National Commercial Bank Plc and Real Estate Investments Zambia Plc, according to data compiled by Bloomberg. Demand for both fixed-income investments and equities among foreign investors has recovered following Zambia's election in August, Kabaso said.

The Electoral Commission of Zambia declared incumbent Hakainde Hichilema winner of the ballot with nearly 61% of the vote, extending his rule of the copper-rich southern African nation to a second term. "All these are coming obviously on the back of renewed confidence that there will be policy consistency and there is also going to be very few variation from the macroeconomic environment," he said.