Workshop Strengthens Capital Market Journalism in Zambia

... Kabaso says empowering media with final knowledge will help to Drive Economic Growth

By Francis Maingaila
Lusaka, Zambia – February 25, 2025 - The Lusaka Securities Exchange (LUSE) hosted a workshop to enhance capital market journalism, bringing together media professionals, regulatory bodies, and financial experts.

Organized in partnership with the Securities and Exchange Commission (SEC) and the Zambia Institute of Mass Communication (ZAMCOM), the event aimed to deepen journalists' understanding of financial markets and emphasize the role of accurate reporting in economic development.

LUSE Chief Executive Officer Nicholas Kabaso emphasized the critical role that responsible journalism plays in sustaining Zambia’s capital markets, urging reporters to avoid disseminating misleading information that could undermine trust and cause confusion among investors.

Kabaso stated that capital markets are vital for driving economic development by facilitating investments and fostering growth.

He asserted, "Accurate and informative reporting remains crucial for the sustainable development of capital markets and the Zambian economy," highlighting the need for an effective media that connects key economic players.

Kabaso called for media practitioners to deepen their understanding of capital market systems, underscoring that accurate reporting is essential for sustainable market development and economic progress.

Discussions examined how market responses to news can sometimes appear contradictory, with positive developments occasionally leading to downturns and negative reports triggering gains.

He called for better alignment between financial journalism and market behavior to help investors interpret trends more effectively.

Participants also explored techniques for gathering reliable financial data and the importance of building strong networks with industry professionals to enhance reporting quality.

Another key topic was improving access to financial information, particularly for underserved communities.

Kabaso highlighted the barriers many individuals, especially in rural areas, face in obtaining relevant financial news.

He advocated for simplifying technical language to make economic reporting more inclusive and engaging.

Ethical considerations in financial journalism were also addressed, with an emphasis on integrity, transparency, and accountability in news coverage.

Kabaso expressed confidence that the workshop would lead to more consistent and insightful reporting on Zambia’s capital markets.

He emphasized that well-informed journalism not only helps investors make sound decisions but also contributes to broader economic growth by fostering a more transparent and predictable investment climate.

"By strengthening financial reporting, the media and financial sector can work together to create a more informed investment landscape that supports economic growth," he said.

Joining virtually from Zimbabwe, Napoleon Nyati, Chief Executive Officer of the National Arts Council of Zimbabwe, provided critical insights into the media’s role in financial markets.

He underscored the media's dual influence, stating, "The media shapes perceptions, influences decisions, and connects us in ways unimaginable a few decades ago."

Nyati highlighted the immense responsibility that journalists bear, particularly in an age where misinformation can spread rapidly and lead to damaging consequences, including eroding investor confidence and causing declines in share prices.

He warned, "Capital markets rely on the efficient flow of information, and negative coverage, whether justified or not, can disrupt this flow."

Nyati also emphasized the importance of media literacy and ethical reporting standards, calling on journalists to act as gatekeepers of truth.

He stressed that responsible financial reporting is essential to mitigate the adverse effects of volatile political landscapes, particularly in Zimbabwe, where negative media coverage can significantly impact businesses.

Advocating for stronger collaboration between media professionals and financial experts, Nyati praised initiatives like the workshop for bridging knowledge gaps and promoting transparency in financial journalism.

Through such initiatives, Zambia and Zimbabwe are taking steps to raise the standards of financial journalism and ensure the media remains a trusted source of economic information.