One SquareK a small medium enterprise Real Estate company has managed to list on the Lusaka Securities Exchange LuSE, making it the second company on the Alternative market.
According to information shared to Zambian Business Times-ZBT by LuSE CEO One squareK aims to raise about K12 million Kwacha to expand its business operations, with a minimum of ZBT reached out to the Lusaka Securities Exchange LuSE Chief Executive Officer Nicholas Kabaso to get an overview of what the listing means not only to the exchange but investors and many shareholders.
In response Kabaso disclosed that one squareK listing on the exchange validates LuSE’s goal in creating a unique platform that allows smaller businesses to list and be able to raise capital for expansion.
“To us as an exchange, one Square Listing provides us with a chance of validation that we provide a very unique platform that can allow smaller business to also be able to tap into the public funds in terms of pulling different investors to help them scale up and for the fact that we have a successful offer that has opened through one Square K it allows now individuals to be able to invest our money into these business as part of creating wealth and build on savings”, said Kabaso.
He added the alternative market being made for small businesses encourages others to start looking to the exchange to be able to raise cheaper and long-term capital than can help business scale sustainability in a short- medium term period of time.
Kabaso noted that considering that the company is in the property sector and residential housing which gives the market a unique platform to own a share in and extend the market raising to residential properties.
“ As we look at the current deficit in residential units, and seeing companies such as One squareK come to the public market validates the fact that there is still a lot of capital to be extended to the residential properties and allows the exchange to fill in the gap of the deficit in housing units,” said Kabaso.
He added that the listing also offers investors and opportunity to invest and support a Zambian owned business grow.
“This offers an opportunity for investors to be able to invest in the plans of a Zambia owned company and help the entrepreneur to scale-up more properties across the city and provide affordable housing to the masses”, said Kabaso.
Article by Justine Phiri
