Investing in the Lusaka Securities Exchange: Comparative Pathways, Settlement Mechanics, and Treaty Tax Relief for UK Residents

Sat Oct. 24, 2026 /Mpelembe Media/ — The Lusaka Securities Exchange (LuSE) operates under the regulatory supervision of the Securities and Exchange Commission (SEC) of Zambia pursuant to the Securities Act No. 41 of 2016, providing a centralized capital market with an equity market capitalization of approximately USD 2.30 billion. To prevent off-market fragmentation, Zambian law mandates that all public companies with 50 or more shareholders must register with the SEC and trade exclusively on a recognized stock exchange, effectively prohibiting Over-The-Counter (OTC) equity markets. The exchange functions across a two-tier market structure comprising the Main Board (Official List) for established public enterprises and the Quoted Tier for growth-phase entities. Zambia maintains a fully liberalized foreign exchange regime with no exchange controls, permitting up to 100% foreign ownership in private and listed assets—with narrow statutory exceptions, such as domestic cellular network operators required to float 10% of their shares on the exchange—and guaranteeing the repatriation of investment capital, dividends, and profits through the Bank of Zambia. Continue reading →