Bulls n Bears Investors Notebook Issue 160:19 December 2018

Wed Dec 19 12:36:35 CAT 2018

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Bulls n Bears Investors Notebook Issue 160:19 December 2018

 <mailto:info at bulls.co.zw> 

Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

Relations are all about: Winning, Losing & Sharing.
Winning Trust, Losing ego

Forex shortage: Innscor looks within   

DIVERSIFIED group, Innscor Africa Limited says it is now leveraging on its
domestic fast-moving consumer goods line to cushion itself from high foreign
currency requirements. The company said although it needed between US$15
million and US$18 million per month for its import requirements, the support
it was getting from the Central Bank was not enough. As such, Innscor board
chairman Mr Addington Chinake said the company was capitalising on import
substitution approaches.  <http://www.bulls.co.zw/> Read more >

Civil servants houses near completion   

CIVIL servants who are set to benefit from the Government's $60 million
non-monetary incentive scheme should move into their new houses by April
next year, the Public Service Commission has said. The first 500 civil
servants have so far been profiled by the National Building Society to
benefit from the programme and have been given offer letters to access
mortgage loans.  <http://www.bulls.co.zw/> Read more >

 <http://www.firstmutualproperties.co.zw/> 

For more business & financial updates log onto <http://www.bulls.co.zw/>
www.bulls.co.zw

Merspin secures Swiss partners   

Bulawayo-based textile concern Merspin Limited, has secured technical
partners from Switzerland to redesign the local plant and recommend new
equipment for the proposed factory upgrade. The company, which closed down
in 2010  in Bulawayo recently cleared a legal battle between Merlin
Limited's judicial manager Mr Cecil Madondo and Maydeep Investment.
<http://www.bulls.co.zw/> Read more >

Private equity firms eye David Whitehead

David Whitehead is in serious negotiations with two unnamed investors
seeking to inject fresh capital and revive the struggling textile firm,
sources familiar with the talks have revealed. The company resumed
operations early this year following two years of inactivity after receiving
a $2 million bail out from the Reserve Bank of Zimbabwe. However, the
company was recently forced to shut down its Chegutu factory due to
shortages of foreign currency required to import critical raw materials such
as chemicals.  <http://www.bulls.co.zw/> Read more >

TelOne pushes for debt takeover   

GOVERNMENT should take over TelOne's legacy debts amounting to $383 million
to realise a meaningful value from the privatisation process which is
underway, a senior company executive has said. The State-owned fixed
telecoms operator is technically insolvent due to the legacy loans dating
back to the era of the Posts and Telecommunications Corporation (PTC). This
has made it unattractive to investors.   <http://www.bulls.co.zw/> Read more
>

MFIs lending skewed towards consumption

MICROFINANCE institutions (MFIs) lent $50,5 million for consumptive purposes
in the nine months to September, representing a third of the industry's
loans in issue. Zimbabwe has a thriving MFI sector, which comprises of 189
registered firms. As of September this year, MFI's loan portfolio was $176,5
million, and of that, business loans amounted to $46,3 million while
agriculture loans took up $40,5 million. Other loans came out to $39
million.

  <http://www.bulls.co.zw/> Read more >

Cassava lists, becomes most valuable counter on ZSE

CASSAVA SmarTech Zimbabwe (CSZL), the fintech-focused spin-off from Econet,
made its debut on the Zimbabwe Stock Exchange (ZSE) yesterday, and became
the bourse's largest counter by market capitalisation. CSZL opened trading
at 0,4380 cents, closing at 149,28 cents, a growth of 241% and valuing the
company at $3,867 billion. The tech giant is now the most valuable counter
ahead of Econet at $3,775bn and beverage maker Delta at $3,612bn after
yesterday's trade.

 <http://www.bulls.co.zw/> Read more > 

 <mailto:info at bulls.co.zw> 

Seed-Co developing rice varieties

Regional seed producer Seed-Co says it is working on developing rice
varieties suitable for the local climatic conditions in order to scale back
the country's reliance on rice imports. Naturally, the cereal requires more
water than any other crop; it grows well in fertile river basins. Zimbabwe,
which is striving to become a food self-reliant nation, imports upwards of
90% of its rice requirements, with government estimates putting money spent
on rice imports at $80 million annually.  <http://www.bulls.co.zw/> Read
more >

Forex challenges affect Falgold

HARARE - Listed mining group, Falcon Gold Zimbabwe Limited says foreign
currency shortages continue to have a knock on effect on its business which
has resulted in the group failing to meet its obligations and is grossly
affected operations. Company secretary Qubeka Nkomo said the inability by
the group to access foreign currency has affected the company as it has
failed to pay its creditors since June 2018. "The inability of gold
producers to access foreign currency and the resultant failure of the
company to pay outstanding amounts to foreign creditors since January 2018,
have resulted in key creditors cutting off critical operating supplies and a
disruption in normal operations.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

A deal is imminent, says Edcon CEO - refuting fears of business collapse

Edcon is very close to announcing a complete recapitalisation of the
business that should endure for the next few years, Edcon CEO Grant Pattison
said on Sunday. "We cannot comment on the details as it is not yet
finalized," he said via Twitter, rejecting the Sunday Times report of its
financial woes as "sensationalism". The newspaper reported that the retailer
was debt-laden and required R2-billion in emergency funding.
<http://www.bulls.co.zw/> Read more >

American restaurant comes to Bulawayo

AMERICAN restaurant chain, Pizza Hut is set to open its second outlet in
Zimbabwe with Bulawayo being the chosen city. The first outlet at Sam Levy's
Village in Harare was.
<http://www.bulls.co.zw/2018/12/17/american-restaurant-comes-to-bulawayo/>
Read more >

Edcon which owns Edgars on brink of collapse

In a desperate bid to stave off liquidation and the loss of up to 140,000
jobs, retail giant Edcon has held out the begging bowl, asking its landlords
for a.
<http://www.bulls.co.zw/2018/12/17/edcon-which-owns-edgars-on-brink-of-colla
pse/> Read more >

Africa Albida records 80% occupancy

THE Africa Albida Tourism is celebrating its busiest year ever, as tourists
flock to Victoria Falls, with its flagship property Victoria Falls Safari
Lodge enjoying over 80% occupancy over the.
<http://www.bulls.co.zw/2018/12/17/africa-albida-records-80-occupancy/> Read
more >

Delta sweats over beer supplies

DELTA Corporation Limited, Zimbabwe's largest beverage marker, is making
frantic efforts to ensure the availability of all its assortment of lager
beers in the wake of the prevailing foreign currency.
<http://www.bulls.co.zw/2018/12/17/delta-sweats-over-beer-supplies/> Read
more >

ED tackles economy at Indaba

President Mnangagwa is expected to officially open the 17th ZANU-PF Annual
People's Conference today, amid high hopes that his address will focus on
the challenges bedevilling the economy and attempt.
<http://www.bulls.co.zw/2018/12/14/ed-tackles-economy-at-indaba/> Read more
>

Art revenue up 40pc   

Amalgamated Regional Trading (ART) revenue for the full-year to September
30, 2018 rose 40 percent to $46,9 million on increased demand and improved
production output in the battery business. The battery division recorded $32
million revenue, representing 42 percent growth from prior year as it
remains the group's cash cow. During the period under review, the group
battled foreign currency shortages which resulted in difficulties in
importing essential raw materials and settling debts to foreign creditors.
<http://www.bulls.co.zw/> Read more >

INVESTORS DIARY 2018

Company

Event

Venue

Date & Time

Unity Day

22/12/2018

Christmas Day

25/12/2018

Boxing Day

26/12/2018

New Years' Day

01/01/2019

REST OF AFRICA

Counters Trading Under Cautionary

Border Timbers

Econet Wireless Zimbawe

Post your event (AGM, EGM, Analysts Briefing, etc) on the Investor Diary
free of charge and reach out to the market. We have annual gold prices since
1900, monthly since January 1971 and daily prices since January 2000. We
also provide historical ZSE prices on request.

DISCLAIMER: This report has been prepared by Bulls 'n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy or
subscribe for any securities. The information contained in this report has
been compiled from sources believed to be reliable, but no representation or
warranty is made or guarantee given as to its accuracy or completeness. All
opinions expressed and recommendations made are subject to change without
notice. Securities or financial instruments mentioned herein may not be
suitable for all investors. Securities of emerging and mid-size growth
companies typically involve a higher degree of risk and more volatility than
the securities of more established companies. Neither Faith Capital nor any
other member of Bulls 'n Bears nor any other person, accepts any liability
whatsoever for any loss howsoever arising from any use of this report or its
contents or otherwise arising in connection therewith. Recipients of this
report shall be solely responsible for making their own independent
investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and sourced from third parties.

Invest Wisely!

Bulls n Bears 

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