Government has hailed the intent by OneSquareK (OSK) Property Development Plc to list on the Lusaka Securities Exchange (LuSE) Alternative Market, describing it as a positive step for Zambia’s capital markets and affordable housing sector.
One squareK Property will become the second listing on the LuSE Alternative Market after DotCom Zambia.
Speaking during the market announcement, Ministry of Infrastructure and Urban Development Permanent Secretary Professor Albert Malama, said government wants to see more Zambian entrepreneurs large scale building businesses.
Prof. Malama, who was represented by Ministry’s Director Dennis Kasonde, stated
that government is ensuring that Zambian investors have meaningful opportunities to participate in the growth of businesses.
“We want to see more Zambian households owning shares in the companies that shape their communities and we want to see our capital markets serve as the bridge between those two ambitions,” Prof. Malama said.
He added that every new listing, every business that opens itself to public scrutiny and public participation, takes the country a step closer to that vision.
“A vibrant securities exchange is not merely a financial instrument, it is a barometer of a nation’s economic confidence,” he noted. When businesses choose to access capital through public markets, they are making a statement that they believe in transparency, in accountability, and in the collective capacity of their fellow citizens to participate in the growth story of this country.”
Speaking at the same event, LuSE Chief Executive Officer Nicholas Kabaso said the intention by One SquareK Property Debey to list on Exchange demonstrates the continued evolution of Zambia’s capital markets as a platform for inclusive growth, innovation, and national development.
“It is also about assuring the market of financing pathways that Zambian enterprises can use to access long-term capital, and through which citizens can participate meaningfully in wealth creation,” Mr. Kabaso said.
He added that as urbanization accelerates across Zambia, the demand for structured, affordable housing solutions continues to grow.
Mr. Kabaso stated that LuSE created the Alternative Investment Market (Alt M) to accommodate small and medium enterprises (SMEs) that are growth-oriented, innovative, and ready to embrace the transparency as well as governance that come with being a listed entity.
“This segment of our market is not merely a stepping stone; it is a strategic platform for scaling businesses, broadening ownership, and deepening investor participation,” Mr. Kabaso added.
Meanwhile, OneSquareK Chief Executive Officer, Mafipe Chunga noted that despite Lusaka’s population increasing by 266 % between 2000 and 2026, the stock of houses has not changed to accommodate the growing population.
Mr. Chunga explained that OneSquareK, therefore, seeks to address this challenge by providing modern and affordable houses especially for young people.
“Over 75 percent of Zambia’s population is young people aged 25 and below, therefore we seek to provide shelter they can call home, shifting away from two-roomed houses,” Mr. Chunga said
