The Zambian government established the Lusaka Stock Exchange (LuSE) in the early 1990s to develop Zambia's financial and capital markets, attract foreign investment, and increase citizen ownership of formerly state-owned companies. International organizations helped establish LuSE, which opened in 1994 and is regulated by the Securities Act to protect investors. Known as the "Zambian Model," LuSE's features like tax benefits and financial education initiatives helped develop capital markets across Africa in the late 1990s. However, Zambia's markets remain heavily dependent on copper prices, leading to boom and bust cycles that demonstrate the need for economic diversification.