Major International Business Headlines Brief::: 10 May 2018

Thu May 10 11:01:50 CAT 2018

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Major International Business Headlines Brief::: 10 May 2018

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

*  Egypt's core inflation decreased to 13.1 pct in April from 13.3 pct in
March: CAPMAS

*  Randgold reports lower Q1 gold output, profit

*  South Africa's rand rallies on easing geopolitical risks

*  South Africa's CPI under control but risks remain: central bank governor

*  South Africa will struggle to close revenue gap - Treasury official

*  MTN says U.S decision on Iran may limit its ability to repatriate cash
from Irancell

*  Ghana's Cocobod seeking $1.5 bln from China's Eximbank- CEO

*  South African magnate Wiese relinquishes roles at investment firm Brait

*  South Africa's business confidence index falls again in April

*  South Africa's NUM union seeks 37 pct pay hike from gold miners over two
years

*  Iran sanctions threaten North Sea deal

*  RBS bank agrees $4.9bn civil penalty to end US probe

*  BT cuts 13,000 jobs to slash costs

*  Bank of England to decide on whether to raise rates

*  Fox says it is 'weighing its options' over Sky bid

*  Walmart wins battle for India's Flipkart

 <mailto:info at bulls.co.zw> 

Egypt's core inflation decreased to 13.1 pct in April from 13.3 pct in
March: CAPMAS

CAIRO (Reuters) - Egypt’s annual urban consumer price inflation decreased to
13.1 percent in April from 13.3 percent in March, the official statistics
agency CAPMAS said on Thursday.

Inflation jumped after Egypt devalued its currency in November 2016. It
reached a record high in July on the back of energy subsidy cuts but has
gradually eased since then.

 <mailto:info at bulls.co.zw> 

Randgold reports lower Q1 gold output, profit

LONDON (Reuters) - Randgold Resources reported a 24 percent
quarter-on-quarter fall in profit on Thursday as production at its mines
declined and costs rose.

First quarter profit totalled $66.5 million, down 24 percent from the
previous quarter and down 22 percent from a year earlier, the London-listed
company said in a statement.

Production fell 16 percent to 286,890 ounces from 340,958 ounces in the
fourth quarter on lower output at the Loulo-Gounkoto complex, Tongon and
Morila mines.

Costs rose to $720 from $627 per ounce.

Randgold, which has operations in Mali, Senegal, Ivory Coast and the
Democratic Republic of Congo, was hit by labour stoppages at its mines but
the company said its full-year targets were on track.

South Africa's rand rallies on easing geopolitical risks

JOHANNESBURG (Reuters) - South Africa’s rand was firmer on Thursday ahead of
mining and manufacturing data, with demand for the currency improved by an
easing of geopolitical nerves and some end-of-week squaring of positions by
investors as a key technical level approached.

At 0650 GMT the rand was 0.44 percent firmer at 12.5000 per dollar compared
to an overnight close of 12.5500 in New York.

“The rand has continued to trade within the 12.4500 to 12.7500 range, the
short term technical indicators remain elevated and the potential for a
short term correction appears significant,” said analyst at Nedbank Reezwana
Sumad.

Market have largely absorbed the shock of President Donald Trump’s decision
on Tuesday to pull the United States out of an international nuclear deal
with Iran.

Bonds were also firmer in early trade, with the yield on the benchmark 2026
paper down 3.5 basis points to 8.42 percent.

Selling pressure on the Turkish lira, on concerns about the central bank’s
ability to rein in double-digit inflation, also likely to have spurred some
rand buying.

Stocks opened firmer, with Johannesburg Stock Exchange’s Top-40 index up
0.71 percent to 51,644 points.

Statistics South Africa publishes March mining production at 0930 GMT and
manufacturing data at 1100 GMT before attention moves offshore to a Bank of
England lending rates decision and U.S. consumer inflation figures.

South Africa's CPI under control but risks remain: central bank governor

JOHANNESBURG (Reuters) - South Africa’s consumer price inflation is under
control but it is too early for the central bank to declare victory in its
pursuit to anchor inflation expectations closer to the midpoint of the 3-6
percent target range, Governor Lesetja Kganyago said.

South Africa’s CPI slowed to 3.8 percent in March, the lowest figure since
January 2011, as the end of the worst drought in decades helped push down
food prices.

In a speech posted on the South African Reserve Bank (SARB) website on
Wednesday, Kganyago said the benign inflation environment was not expected
to continue as the expectation was the March reading was the low point in
the current cycle.

“Inflation appears to be under control, but there are incipient risks,”
Kganyago said.

He said the SARB would need to see further declines in CPI, or at least a
stabilisation at recent levels, to feel confident that inflation
expectations have fallen on a sustained basis.

“In other words, it is too early to declare victory in our quest to anchor
inflation expectations closer to the midpoint of the target range,” Kganyago
said.

The central bank cut its main interest rate by 25 basis-points to 6.5
percent in March on the back of easing inflation but said that it expected
consumer prices to rise above 5 percent in the medium term.

The next rates decision will be announced on May 24.

South Africa will struggle to close revenue gap - Treasury official

JOHANNESBURG (Reuters) - South Africa will struggle to raise the tax
revenues needed to reduce a budget deficit and support fragile economic
growth due to ongoing problems in tax administration, the National
Treasury’s Director General Dondo Mogajane said on Wednesday.

In February the treasury announced a raft of cost cutting measures,
including a hike to value added tax (VAT) for the first time in two decades,
to cap ballooning debt and close a large revenue shortfall.

The move to raise VAT to 15 percent from 14 is expected to generate an
additional 23 billion rand ($2 billion) of revenue in 2018/19 to fund rising
expenditure, particularly the government’s decision to expand free
university education following months of protests around the country.

“Growth wasn’t what it should have been last year and it won’t be for a
while,” Mogajane said.

“Tax revenue faces challenges from both the economy and from tax
administration, and raising 60 billion rand in one year is going to be a
tall order,” he said, referring to the amount needed to narrow the budget
deficit.

Low tax collection has also been blamed on turmoil at the South African
Revenue Service (SARS).

South Africa’s new President Cyrile Ramaphosa — who took the helm as
president in February, pledging to tackle endemic corruption — suspended tax
commissioner Tom Moyane in March over disciplinary charges related to
alleged misconduct.

MTN says U.S decision on Iran may limit its ability to repatriate cash from
Irancell

(Reuters) - MTN Group said on Wednesday that U.S. President Donald Trump’s
decision to pull out of the Iran nuclear accord may limit the South African
telecoms firm’s ability to repatriate cash from MTN Irancell, sending its
shares lower.

Trump said on Tuesday he would reimpose U.S. economic sanctions on Iran,
which were lifted under the agreement he had harshly criticized.

In 2018, the company had repatriated about 88 million euros ($104.26
million) from MTN Irancell, including 61 million euros relating to the 2017
dividend due to MTN as well as a further 27 million euros of historic
dividends.

The remaining balance due to MTN is about 200 million euros, MTN said,
adding it was committed to its investment in Irancell and to repatriating
the balance of legacy cash.

The company said it will continue to monitor the situation, including the
response of the Iranian authorities and the othermembers of the Joint
Comprehensive Plan of Action.

MTN’s shares were down 2.6 percent at 0745 GMT after earlier falling over 3
percent.($1 = 0.8440 euros)

Ghana's Cocobod seeking $1.5 bln from China's Eximbank- CEO

ACCRA (Reuters) - Ghana’s Cocobod is seeking up to $1.5 billion from China’s
Eximbank to improve farms and install irrigation systems and other projects,
the regulator’s chief executive Joseph Aidoo said on Wednesday.

China will also grant the West African country $35 million to help build a
40,000-tonne state-run cocoa processing plant, Aidoo told reporters at the
start of a meeting with a Chinese technical team in the capital Accra.

“We have been in discussions since last year to secure $1.5 billion to
finance our plans, mainly to replant diseased and aged trees, build
warehouses and cocoa roads to improve farmers’ income, and also to provide
irrigations in the face of changing climate conditions,” said Aidoo.

Last year, Cocobod said it had put plans to raise $500 million from the
Eximbank on hold in anticipation of a loan from the African Development
Bank.

Aidoo said the new processing plant, estimated to cost $60 million, will be
built in the western region of Sefwi-Wiawso as part of a wider plan to
double locally-processed cocoa production.

Ghana, the world’s second largest cocoa exporter after Ivory Coast, produces
an average 800,000 tonnes of beans per year, with plans to reach 1 million
tonnes by 2020. But the country currently only processes about 250,000
tonnes, Aidoo said.

South African magnate Wiese relinquishes roles at investment firm Brait

JOHANNESBURG (Reuters) - South African tycoon Christo Wiese has stepped down
from two roles at Brait SE where he is a major shareholder, citing time
constraints, the investment firm said on Wednesday.

Wiese is best known for transforming grocery retailer Shoprite from just six
shops in the 1970s to hundreds of stores across Africa as well as his
investment in crisis-hit Steinhoff International.

He resigned as chairman and biggest shareholder of Steinhoff in December
when accounting irregularities were uncovered, and is now suing the company
over his investment. [nL8N1S33R5]

Wiese retired on Tuesday as a non-executive director of Brait’s UK company
New Look and as the non-executive chairman of Brait South Africa Proprietary
Ltd “due to time constraints”, the firm said in a statement without
elaborating.

Wiese, who holds a more than 34 percent stake in Brait, will retain his
non-executive directorship of Brait and has appointed his son Jacob Wiese as
an alternate at the firm.

In addition to its British no-frills clothing chain, Brait also owns gym
chain Virgin Active and British supermarket Iceland Foods.

($1 = 12.6158 rand)

South Africa's business confidence index falls again in April

JOHANNESBURG (Reuters) - South Africa’s business confidence fell for third
month in a row in April impacted by lower merchandise export volumes and new
vehicle sales as well as a weaker rand currency, a survey showed on
Wednesday.

The South African Chamber of Commerce and Industry’s (SACCI) monthly
business confidence index (BCI) fell to 96.0 in April from 97.6 in March,
the chamber said in the statement.

Business confidence hit a 2-1/2 year high in January after Cyril Ramaphosa’s
election as leader of the ruling African National Congress in December
raised expectations of credible and business-friendly environment following
years of policy uncertainty under then president Jacob Zuma.

Investors enthusiasm however has since been tempered, mainly by external
factors, with the rand slipping to four-month lows recently, as the U.S.
central bank began raising lending rates, drawing investment offshore.

SACCI said business confidence would begin to rise again as economic reforms
under new political leadership restored the South African economy to its
full potential.

“A simultaneous phase of the restoration process has to address the revival
of economic growth and employment opportunities,” the chamber said.

“These include service delivery by public sector institutions as well as
creating a solid base for future sustainable economic growth.”

South Africa's NUM union seeks 37 pct pay hike from gold miners over two
years

JOHANNESBURG (Reuters) - South Africa’s National Union of Mineworkers (NUM)
has submitted wage hike demands in the gold sector of up to 37 percent over
a two year period, according to a document submitted to the Chamber of Mines
seen by Reuters.

The demands far exceed the current inflation rate of 3.8 percent and suggest
potentially tough negotiations with companies that have been battling to
contain soaring costs in the world’s deepest mines.

The document, dated April 23, says the NUM wants the basic monthly pay for
entry-level underground workers to rise to 10,500 rand ($83) over the next
two years, which translates into annual increases of between 15 and 18.5
percent, depending on the company.

This is less than opening demands of up to 75 percent by the NUM in previous
negotiations, a sign that lower inflation and food prices may be moderating
expectations. The three-year agreements reached in 2015 saw basic wage hikes
of between 10 and 13 percent per year.

The total package a miner receives is higher than the basic wage as it also
includes housing and other allowances.

The chamber negotiates in the gold sector on behalf of Harmony Gold,
Sibanye-Stillwater, AngloGold Ashanti, and a smaller producer.

Wages account for around half of the costs in South Africa’s gold mining
industry and companies have in the past said the cycle of double-digit,
above-inflation pay hikes cannot be sustained, unless prices rise
considerably.

Unions say wages remain too low, a legacy of apartheid when the black mining
labour force was ruthlessly exploited. The NUM has also said its average
member typically has eight dependants, straining their ability to provide
for their households and fueling their demands.

Negotiations should kick off in June and other unions still have to submit
their demands, but the NUM said it wanted the talks to be complete by July
1, when the next agreements are supposed to begin.

($1 = 12.6043 rand)

Iran sanctions threaten North Sea deal

The Rhum gas field in the North Sea, which supplies 5% of the UK's gas, is
half-owned by the Iranian State Oil Company.

BP, which owns the other half, is in the process of offloading its share to
small North Sea specialist Serica, but that deal has not completed.

BP does huge amounts of business in the US and will be desperately keen to
avoid being seen as a business partner of the Iranian state.

It's a good example of how sanctions against a state can have wide
repercussions for the international business community.

The chairman of Serica, Tony Craven-Walker, told the BBC he was still
hopeful that the deal would close and that there would be no interruption to
a major source of gas for UK families and businesses.

However, one of the conditions of the deal closing is obtaining a licence to
operate from the US Treasury Department, which is thrown into question with
the imminent reintroduction of US sanctions against Iran.

BP and Serica both said they had no plans to stop production in the short
term.

However, Serica conceded that it may have to change personnel and companies
involved in the operation of the field to ensure there were no US
individuals or entities involved.

Cold snap

UK gas supplies were shown to be very tight during the recent cold snap,
when National Grid issued a gas deficit warning that resulted in some
companies agreeing to cut their consumption to protect household supplies.

Earlier this year, Iran's oil minister, Bijan Namdar Zanganeh, said
multinationals including Royal Dutch Shell, France's Total, Italy's ENI,
Japan's Inpex and Malaysia's Petronas had submitted proposals to expand the
Azadegan oil field near the Iraqi border.

For those companies with significant business in the US - such as Shell and
Total - those proposals may need to be shelved. Total is particularly
exposed, as it has made significant investments in Iran.

Meanwhile, the Department for International Trade said the government
"continues to fully support expanding our trade relationship with Iran".

However, it added this line that firms may not find totally reassuring: "How
UK companies act in response to US sanctions is a commercial and legal
decision for that company. Where necessary, legal advice should be sought."

When the US decides it doesn't want to do business with a country, non-US
companies can also get burned.

In 2012, HSBC was forced to pay a $1.9bn US fine for breaching certain
sanctions, including the one imposed on Iran. Standard Chartered paid a
$400m fine for Iranian sanction-busting activity.

Both HSBC and Standard Chartered did not re-enter the Iranian market after
the original sanctions were lifted - a factor that many think held Iran's
economy back over the last few years.

In a globalised world, sanctions can have long tentacles. There is plenty to
keep company lawyers busy as the details of this new sanctions regime become
clear.--BBC

RBS bank agrees $4.9bn civil penalty to end US probe

Royal Bank of Scotland has agreed a $4.9bn (£3.6bn) penalty with US
regulators to end a long-running probe into its actions in the lead-up to
the financial crisis.

RBS boss Ross McEwan said the agreement in principle with the US Justice
Department (DoJ) was "a milestone".

The probe focused on the sale of financial products including toxic mortgage
bonds from 2005 to 2007.

The government is now expected to start selling its 71% stake in the bank.

In November last year, the government said it would start reprivatising RBS
by selling £3bn of shares before the end of the 2018-2019 financial year,
but Chancellor Philip Hammond said he was reluctant to sell shares while the
DoJ probe was still to be resolved.

Shares in RBS were up by nearly 5% in early trade.

The settling of the outstanding penalty for RBS' role in the financial
crisis was the last obstacle standing in the way of selling the government's
enormous 71% stake back to the private sector in what will be the biggest
privatisation in UK history.

The government owns over £20bn worth of shares. That is a colossal amount to
sell and will take several years.

The first sales will be at a loss, but the government will hope that over
time, as the huge overhang of shares to sell dwindles and profits continue
to rise, the public may get more money back.

The public though are unlikely to ever recoup the £45bn poured into the
biggest banking debacle in UK corporate history.

Clearer outlook

RBS said about $3.6bn of the penalty would be covered by money already set
aside. Many analysts had forecast that the settlement could be larger than
$4.9bn.

Last July, RBS paid another hefty penalty of $5.5bn to the US Federal
Housing Finance Agency.

The DoJ said further details must be negotiated with RBS before a final deal
is done. But Mr McEwan called the settlement a "milestone moment" for the
bank.

"Removing the uncertainty over the scale of this settlement means that the
investment case for this bank is much clearer," he said.

Jane Sydenham, from Rathbone Investment Management, told the BBC: "Removing
this final cloud will make a difference, it will mean the government can
press ahead with a sale and it can start to look forward, rather than
spending all their time worrying about what happened in the past."

RBS is the last in a line of major banks to pay penalties to the DoJ for
their activities in the run-up to the financial crisis.

In March, Barclays agreed a $2bn settlement with the DoJ, and Deutsche Bank
paid $7.2bn.

Rivals also charged by the DoJ include Citigroup, JPMorgan Chase, Credit
Suisse, Morgan Stanley, Goldman Sachs and Bank of America.--BBC

BT cuts 13,000 jobs to slash costs

Telecoms giant BT is to cut 13,000 jobs over three years as it seeks to slim
down its management and back-office roles.

It added that it would be hiring about 6,000 employees to "support network
deployment and customer service".

The company also intends to move out of its existing central London
headquarters and find smaller premises.

Shares in BT fell nearly 8% in early trading as investors reacted to the
unexpectedly large reduction in jobs.

BT said that the job cuts and other measures would help it to reduce costs
by £1.5bn.

A third of the job reductions will come from outside the UK in its Global
Services division.

Last year, BT was forced to write down the value of the Italian part of
Global Services after an accounting scandal that cost the firm more than
£500m.

'Lean and agile'

The company said it was responding to changes in the telecoms market,
including "increasing competitive intensity from established companies and
new entrants".

"It is critical that BT transforms its operating model to build a lean and
agile organisation that delivers sustained improvement in customer
experience and productivity," it said.

The announcements came as BT disclosed that its annual pre-tax profits rose
11% to £2.6bn in the year to March.

The firm also announced a 13-year plan to plug its £11.3bn pension fund
deficit, including regular payments into the scheme and a bond issue.

Chief executive Gavin Patterson said BT was in a unique position: "We have
the UK's leading fixed and mobile access networks, a portfolio of strong and
well segmented brands, and close strategic partnerships.

"This position of strength will enable us to build on the disciplined
delivery and risk reduction of the last financial year, a period in which we
delivered overall in line with our financial and operational commitments
whilst addressing many uncertainties."-BBC

Bank of England to decide on whether to raise rates

The Bank of England's Monetary Policy Committee is set to decide later
whether to raise rates from 0.5%.

Economists believe the Bank will not increase the cost of borrowing after a
slowdown in UK economic growth in the first quarter of the year.

Last month, Bank governor Mark Carney said "mixed" economic data could delay
any increase.

Rates rose for the first time in more than 10 years in November, from 0.25%.

The Bank is also expected to downgrade its economic growth forecasts.

The economy expanded at its slowest pace in five years in the first three
months of 2018.

Gross domestic product grew by 0.1%, down from a rate of 0.4% in the
previous three months, with the severe weather caused by the Beast from the
East affecting the retail and construction sectors in particular.

'U-turn'

The prediction would signal a change of thinking for the Bank.

Last month, one forecasting body, the EY Item Club, had predicted two rate
rises this year.

The Bank is expected to cut its 2018 growth forecast from the 1.8% predicted
in its quarterly report in February and also lower inflation predictions.

Wages have started to overtake inflation and Howard Archer, the EY Item
Club's chief economic adviser, believes an August rise may be the only one
this year, if it happens.

"If the Bank of England does cut the near-term GDP growth and inflation
forecasts, but leave the longer-term projections unchanged, it would point
to the gradual tightening of monetary policy being delayed rather than
abandoned," he said.

In an interview with the BBC in April, Mr Carney all but extinguished
expectations of a rate rise by saying that some of the economic data had
shown signs of weakening.

"I am sure there will be some differences of view but it is a view we will
take in early May [at the next meeting of the Bank's Monetary Policy
Committee], conscious that there are other meetings over the course of this
year," he said.

Investment firm Investec believes any decision to hold rates will not be
unanimous among the MPC members.

It predicts a 7-2 vote in favour of no rise, with Ian McCafferty and Michael
Saunders the only committee members expected to want an increase after
calling for one in March.

"With a rate hike now seemingly off the table, the market will be focused on
the rationale for the BoE's abrupt U-turn, having signalled a rate hike in
March," said Investec.

"Softer data looks to have played a part, but with the first quarter
seemingly impacted by poor weather, investors will be keenly waiting to see
if the BoE believes there is a more fundamental slowdown afoot and what the
chances are for a rate hike later this year."--BBC

Fox says it is 'weighing its options' over Sky bid

21st Century Fox says it remains set on buying UK broadcaster Sky and hopes
for regulatory approval this summer.

Fox has been trying to win approval to buy the 61% of Sky it does not
already own from UK regulators since 2016.

But the media firm faces competition for Sky from US telecoms giant Comcast,
which has put in its own offer.

The comments came as the company, which is led by the Murdoch family,
reported a 2% decline in quarterly revenue to $7.4bn (£5.5bn).

Fox said the decline was due to a loss of advertising related to American
football, including the fact that it did not air the Super Bowl this year.

Profit was $858m in the first three months of the year, rising about 7% from
the same period in 2017.

The results were overshadowed by the pending changes to Fox's business,
including its bid for Sky and a deal struck last year to sell the bulk of
its assets, including its film and television studios, to Disney.

Both transactions require approval from regulators to move forward and could
be disrupted by interest from Comcast.

Repeating a statement it made earlier, Fox said it is "considering its
options" when it comes to the Sky bid and would make a further announcement.

Fox has previously proposed to sell Sky to Disney or take other steps to
ensure the independence of the company's news division, in an effort to
allay regulator worries.

On a conference call with financial analysts on Wednesday, Fox chief
executive James Murdoch added that it would be "appropriate" for Comcast's
£22bn bid for Sky to undergo a "robust" regulatory review.

The firm also said it remains committed to its deal with Disney.

Earnings details

The sale to Disney would leave Fox focused on news and sports, areas that
the firm sees as less vulnerable to online competition.

Quarterly revenue in the firm's film studios was flat at about $2.2bn,
notwithstanding critically acclaimed movies such as The Shape of Water,
which won the Best Picture Award at the Oscars this year.

Fox said subscribers actually grew in its cable network unit, which includes
the Fox News channel. Quarterly revenue in that division, which accounts for
the bulk of the firm's earnings, rose almost 10% year-on-year to $4.4bn.

Underscoring its ongoing plans for news, Fox also announced a deal to buy
seven television stations in the US for $910m.--BBC

Walmart wins battle for India's Flipkart

Walmart will pay about $16bn to take control of Flipkart, India's biggest
online retailer, in a deal that puts it head to head with Amazon.

The world's largest retailer will take a 77% stake, valuing the Indian
company at more than $20bn.

Flipkart has been under pressure from Amazon since it arrived in India five
years ago.

Amazon had been considering making its own offer for the Indian firm, which
has more than 100 million users.

Walmart has been looking to expand in India for years and is flush with cash
from recent US tax cuts.

Founded in 2007, Flipkart has high-profile investors including Microsoft,
Tencent and Softbank that will retain their stakes.

The combination with Walmart could be controversial, with concerns about how
a deal might affect India's smaller retailers.

Online sales in India were worth $21bn last year, according to market
research firm Forrester.

That total is expected to soar in coming years as more of its 1.25 billion
population makes more use of the internet.

This feels like a watershed moment for Indian e-commerce. Flipkart has so
far been seen as the home-grown, domestic brand taking on America's Amazon.

The fact that most of it was already owned by foreign companies or that it
is domiciled in Singapore didn't stop people from feeling pride about this
Indian firm that had grown so quickly.

Its founders, Sachin Bansal and Binny Bansal, have been the poster boys of
Indian e-commerce. Now the story changes though, from an Indian and American
firm fighting it out, to India being the new battleground for the Walmart vs
Amazon contest.

As far as consumers go, not much will change. Some analysts say buyers might
even benefit as the two US companies try to increase market share.

However, the deal is facing some opposition. Confederation of All India
Traders, one of the country's biggest traders' associations, has said it
will "vitiate the e-commerce and retail market".

It has asked the government to press the pause button on the agreement until
a national agreement for e-commerce is formulated.--BBC

INVESTORS DIARY 2018

Company

Event

Venue

Date & Time

Workers’ Day

01/05/2018

Africa Day

25/05/2018

Zimbabwe

Heroes’ Day

Zimbabwe

13/08/2018

Zimbabwe

Defence Forces Day

Zimbabwe

14/08/2018

 <mailto:info at bulls.co.zw> 

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Facebook:
<http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimba
bwe&sa=D&sntz=1&usg=AFQjCNGhb_A5rp4biV1dGHbgiAhUxQqBXA>
www.facebook.com/BullsBearsZimbabwe

Skype:         Bulls.Bears 

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