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An examination of non-compliant related party transactions on the Lusaka Securities Exchange and a proposal to mitigate this harm.


What’s Yours Is Mine and What’s Mine Is Mine

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Overview

This article seeks to curb the prevalence of non-compliant related party transactions (RPTs) on the Lusaka Securities Exchange (LuSE) by increasing awareness of such RPTs, examining the harm that they inflict, and proposing actions to mitigate this harm.

About the Author(s)

Sumeet Jain
Sumeet Jain

Sumeet Jain is an internationally experienced professional with a track record of investing in and growing businesses in Africa. He is currently a Director at Pekanya, an agricultural services platform in Zambia. Previously, he was a management consultant at Bain & Co., working on corporate strategy and performance improvement engagements across Africa. He began his career as a corporate lawyer at Shearman & Sterling, working in New York and London, and experienced in a range of commercial transactions. He holds a Juris Doctor from Washington University School of Law and a bachelor's degree in economics from the University of Notre Dame. Mr. Jain is a member of the New York bar.

Godfrey Mwanza
Godfrey Mwanza CFA

Godfrey Mwanza holds over 15 years experience working in African capital markets. He is currently the Head of Africa Equity Franchise at Absa Asset Management. Prior to that, he was the portfolio manager of the Africa (ex-South Africa) equities fund at African Alliance. Previously, he was an investment analyst at Enko Capital, a multi-strategy Africa-focused hedge fund based in Johannesburg. Mr. Mwanza began his career in corporate finance in Zambia, playing a key role in pioneering corporate transactions in the country. He holds bachelor's degree in economics from the London School of Economics and Political Science. Mr. Mwanza is a CFA® charterholder.