ICM Consulting

ICM Consulting Is your Corporate Structure fit for the challenge ahead? Do you require the following services?
- Ca Who is ICM Consulting? Our services include:

1. Valuations

Smart, courageous people who forge strong relationships make us the best at what we do: measuring, protecting and enhancing what matters most to our clients. And although the work we do will vary, the way we work will not. We’re passionate about making a difference for our clients and each other, constantly creating and adding value. It’s an inspiring backdrop for your career, whether you’re makin

g a difference to a public or a private company, a government or charity. Be part of something special and find out how your drive and initiative could open up new opportunities for you and our clients. ICM Consulting Limited (ICM Consulting) is a provider of independent financial advice to individuals, corporate and institutional investors during transactions where it comes to important decisions that define your future. We deliver a full suite of deal services spanning the entire deal cycle from initiation through completion. Mergers & Acquisitions (M&A) (Buy and Sell);
2. Fund Raising (Debt & Equity);
3. Due Diligence (Vendor & Purchaser); and
4.

The Monetary Policy Rate has been reduced by 75 basis points to 13.5%. The decision was arrived at by the Monetary Polic...
11/02/2026

The Monetary Policy Rate has been reduced by 75 basis points to 13.5%. The decision was arrived at by the Monetary Policy Committee (MPC) at its Meeting held on February 9-10, 2026. Governor, Dr. Denny Kalyalya, announced the development at a Media Briefing held at the Bank of Zambia in Lusaka on February 11, 2026.
In arriving at the decision, the MPC took into account the further decline in inflation in Q4 of 2025, the projected faster fall of inflation into the 6-8% target band than was forecast in November 2025, and the need to maintain an appropriate monetary policy stance.
Inflation continued to decelerate in Q4 of 2025, with overall inflation declining to 11.2% in December 2025 from 12.3 % in September 2025. In January 2026, inflation fell sharply to 9.4%. The decline in inflation has largely been driven by the continued impact of the maize bumper harvest from the 2024/25 farming season and the appreciation of the Kwacha against major currencies.

The current projection is that inflation will fall into the 6-8% target band at a faster pace than was forecast in November 2025. Further, it is expected to be within the band by Q2 of 2026 and move to the lower bound by Q2 of 2027.

The risks to the inflation outlook remain tilted to the downside. These include favourable weather conditions; supportive external sector conditions, reflected in higher copper prices; and continued macroeconomic stability.

Decisions on the Policy Rate will continue to be guided by inflation outcomes, forecasts, and identified risks, including those associated with financial stability.

The next MPC Meeting will take place on May 11 and 12, 2026.

“Happy Holidays from our team to yours! We're so grateful for your support this year."
25/12/2025

“Happy Holidays from our team to yours! We're so grateful for your support this year."

Risk Management - Risk Culture - Risk Awareness - Enablers & not Business BlockersThe quality of risk management in an o...
24/09/2025

Risk Management - Risk Culture - Risk Awareness - Enablers & not Business Blockers

The quality of risk management in an organisation is driven by the strength and depth of the risk culture…which can be brought about by knowledge and awareness. Risk management can provide opportunities and hence can be innovative and transformational.

A resilient organization begins with a mindset….a culture where every employee, from entry-level to executive, understands their role in managing risk.

Awareness is the foundation.
When people are aware of risks…not just the big, obvious ones, but the subtle, everyday exposures…they are empowered to act. That awareness leads to better decisions, fewer incidents, and ultimately, a stronger, more agile organization.

Real examples:
• A team member flagging a suspicious transaction before it causes damage.
• An employee recognizing a phishing email and reporting it.
• A department escalating a potential compliance issue before it becomes a regulatory breach.

These aren’t heroic acts….they’re the result of a culture that values awareness.

Effective risk management is not risk avoidance and that usually results in return avoidance. Effective risk management should be considered a tool for better decision making and improved long term sustainability. Effective communication and awareness should help shift the perception of risk managers being business blockers just as business development managers should embrace risk managers as partners and enablers….

At the end of the day, effective risk management is about working together to identify, assess and manage threats to an organization’s capital, earnings, reputation and goals.

Impact of Declining Interest Rates- great for people who own assets beacuse the value of an asset is the discounted pres...
17/08/2025

Impact of Declining Interest Rates

- great for people who own assets beacuse the value of an asset is the discounted present value of the future cashflow and if the rate at which you discount those future cashflows declines the value of the asset goes up.
- great for borrowers bacause they're cost of capital goes down.
- even greater for people who buy assets using borrowed money and that's what happens to the private equity industry.

IMPACT OF INTEREST RATES ON ASSET VALUATIONS Asset values are essentially the discounted present value of the future cas...
06/08/2025

IMPACT OF INTEREST RATES ON ASSET VALUATIONS

Asset values are essentially the discounted present value of the future cash flows. The lower the interest rates the higher the discounted present value of the future cashflows…it follows that interest rates constitute the investment environment as they directly impact asset valuations. They are like water is to fish.

Looking for Investment?- quality (mgt team), price (ROE), hidden golden negget- be fearful when others are greedy and be...
05/08/2025

Looking for Investment?

- quality (mgt team), price (ROE), hidden golden negget
- be fearful when others are greedy and be greedy when others are fearful

Impact of Interest Rates on Asset Valuations A higher interest rate results in a lower present value. This is because th...
12/04/2025

Impact of Interest Rates on Asset Valuations

A higher interest rate results in a lower present value. This is because the higher interest rate means that a future sum of money can earn more if invested today, making the present value of that future sum less appealing. Conversely, lower interest rates lead to higher present values because a future sum of money would earn less if invested today, making it more attractive in terms of present value.

- Time Value of Money:
The core concept is the "time value of money," which states that a dollar today is worth more than a dollar tomorrow due to the potential for earning interest or returns.

- Discounting Future Cash Flows:
Present value is calculated by discounting future cash flows back to their present value using a discount rate (which is often the interest rate).

- Inverse Relationship:
The higher the discount rate (interest rate), the more heavily future cash flows are discounted, resulting in a lower present value. Conversely, lower discount rates result in higher present values.

- Opportunity Cost:
A higher interest rate increases the opportunity cost of holding an investment, as you could be earning more by investing elsewhere.

- Examples:

1. Imagine you have the option of receiving K1,000,000 in one year or receiving a smaller amount today. If the interest rate is 5%, you might accept a smaller amount today (e.g., K950,000) because it would grow to K1,000,000 in one year. If the interest rate were higher (e.g., 10%), you might only accept an even smaller amount today (e.g., K900,000) because it would grow to K1,000,000 in one year.

2. ⁠K1,000 today should be worth more than K1,000,000 five years from now because today's K1,000,000 can be invested for those five years and earn a return. If, let's say, the K1,000,000 earns 5% a year, compounded annually, it will be worth about K1,276.282 in five years.

Present value looks at it in reverse. For example, if you are due to receive K1,000,000 five years from now….the future value (FV)…what is that worth to you today? Using the same 5% interest rate compounded annually, the answer is about K783,526.

RED FLAGS IN FINANCIAL STATEMENTS: WHAT TO WATCH OUT?Financial statements are critical tools for assessing a company's f...
04/01/2025

RED FLAGS IN FINANCIAL STATEMENTS: WHAT TO WATCH OUT?

Financial statements are critical tools for assessing a company's financial health, but they can also reveal potential risks. Spotting red flags early can save businesses and investors from costly surprises. Here are some key warning signs to look for across the three main financial statements:

1. Income Statement

This statement reflects a company's profitability.

Watch out for:

- Declining Revenues: Consistent drops in sales may indicate reduced demand or poor performance.

- Increasing Operating Expenses: Rising costs without revenue growth can erode profits.

- Net Losses: Continuous losses could signal financial instability.

- Unusual Revenue Sources: Non-recurring income may distort the true financial picture.

- Inconsistent Earnings: Fluctuations can raise concerns about sustainability.

- High Interest Expenses: Excessive borrowing costs may strain profitability.

2. Balance Sheet

The balance sheet reveals a company's financial position at a specific point. Red flags include:

- High Debt Levels: Over-leverage can lead to liquidity issues.

- Negative Equity: Indicates liabilities exceed assets, a sign of insolvency risk.

- Declining Asset Quality: Depreciated or obsolete assets could reduce value.

- Increasing Accounts Receivable: Struggling to collect payments may harm cash flow.

- High Inventory Levels: Excess stock can tie up resources and signal weak sales.

- Short-Term Debt: High short-term obligations may pressure cash flow.

3. Cash Flow Statement

This statement tracks the inflow and outflow of cash, highlighting liquidity. Beware of:

- Negative Operating Cash Flow: Indicates the

business isn't generating enough cash from core operations.

- High Capital Expenditures: Excessive investments may reduce free cash flow.

- Frequent Financing Activities: Reliance on external funding could be risky.

- Mismatch Between Net Income and Cash Flow: Suggests potential manipulation or inefficiency.

- Negative Free Cash Flow: Limits growth opportunities and financial flexibility.

- Large Dividends Despite Negative Cash Flow: Could indicate poor financial planning.

Why This Matters

Identifying these red flags can help stakeholders make informed decisions, whether it's investors evaluating opportunities, lenders assessing risks, or businesses planning strategies.
- Declining Asset Quality: Depreciated or obsolete assets could reduce value.

- Increasing Accounts Receivable: Struggling to collect payments may harm cash flow.

- High Inventory Levels: Excess stock can tie up resources and signal weak sales.

Short-Term Debt: High short-term obligations may pressure cash flow.

24 sentences every CFO must hear at least once:1. Data without context is dangerous.2. The CEO is your partner, not your...
26/12/2024

24 sentences every CFO must hear at least once:

1. Data without context is dangerous.

2. The CEO is your partner, not your boss.

3. You're judged on results, not intentions.

4. Your team's improvement is your legacy.

5. You're the voice of reason, not popularity.

6. Your role is strategic, not just operational.

7. Embrace technology or become obsolete.

8. Your reputation is your most valuable asset.

9. Risk management is as important as growth.

10. Your job is to say "no" more often than "yes."

11. Crisis management skills are non-negotiable.

12. Ethics aren't situational. They're foundational.

13. Cost-cutting alone won't save a failing business.

14. Compliance isn't optional. It's your responsibility.

15. You're the guardian of long-term financial health.

16. Transparency builds trust. Secrecy triggers suspicion.

17. Cash is king. Profits mean nothing without cash flow.

18. Every decision has financial implications. Be prepared.

19. If you're not continuously learning, you're falling behind.

20. The ability to say "I don't know" is strength, not weakness.

21. Your influence extends far beyond the finance department.

22. Your forecasts will be wrong. It's how you adapt that matters.

23. You're the bridge between finance and every other department.

24. If you can't explain it simply, you don't understand it well enough.

Portfolio Management - most of the times you are judged by the investments that you make but actually the investments t...
17/12/2024

Portfolio Management

- most of the times you are judged by the investments that you make but actually the investments that you don't make is equally important
- a good portfolio is one which is resilient, forward looking and able to withstand shocks in the marketplace. When markets go down, you may not be immune to that but what you hope is that since you are resilient, you can survive the downturns and come back and grow beyond that.
- generate sustainable returns over the long term. Playing the long game by building resilient and forward looking portfolios
- understand not only the company but the space or ecosystem it operates in
- knowing that things can go wrong as they is nothing riskier than thinking they is no risk.
- careful not to support volatile assets with a highly leveraged structure. Choose optimizing over maximizing.

OWNERSHIP & DEBTA stock is a partial ownership of a business with no promise of anything than your share of what all the...
07/12/2024

OWNERSHIP & DEBT

A stock is a partial ownership of a business with no promise of anything than your share of what all the owners get if they is something.

A bond is a promise of interest of and repayment of principal in a priority basis.

For the most part ownership assets such as stock give portfolios their dynamism in their upside potential but at the cost of being uncertain an having significant downside potential.

Lending assets such as bonds have a fixed promise which is dependable but limited in its upside.

Address

No. 25 Mpulungu Road, Olympia
Lusaka
POSTNET294,PRIVATEBAG891,MANDAHILL

Opening Hours

Monday 07:30 - 17:00
Tuesday 07:30 - 17:00
Wednesday 07:30 - 17:00
Thursday 07:30 - 17:00
Friday 07:30 - 17:00
Saturday 08:00 - 13:00

Telephone

+260966881117

Website

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