Bulls n Bears Investors Notebook Issue 129:05 November 2018

Mon Nov 5 12:33:22 CAT 2018

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Bulls n Bears Investors Notebook Issue 129:05 November 2018

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Bulls ‘n Bears Investors Diary: Today’s Events

Quotable Quote:

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

Australia's Invictus says it has not found oil and gas deposits in Zimbabwe

HARARE (Reuters) - Australian-listed Invictus Energy said on Friday it had
not found oil and gas deposits in northern Zimbabwe but there were
indications of a “working petroleum system” which could only be confirmed by
a planned exploration well. President Emmerson Mnangagwa told reporters on
Thursday that Invictus had found oil and gas deposits in the Muzarabani area
and had agreed to enter a production sharing arrangement with Zimbabwe once
the project reached commercial production. <http://www.bulls.co.zw/> Read
more »

‘Feruka Oil Pipeline underutilised’   

ENERGY and Power Development Minister, Dr Joram Gumbo, has said there is no
hurry for the country to install a second fuel pipeline from Beira as the
existing one is not being fully utilised. Although Government has hinted on
plans to engage companies interested in setting up a second fuel pipeline
connecting Zimbabwe and Beira, the minister said the merits of doing so were
being assessed. Zimbabwe uses the Feruka Oil Pipeline to receive around 90
percent of its fuel requirements from foreign suppliers.
<http://www.bulls.co.zw/> Read more »

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

‘Macadamia growers competent, need better collaborations’

DUTCH macadamia expert, Hans Werweij, who wrapped up a two-week scoping
exercise in Zimbabwe last Friday, says Zimbabwean macadamia growers are
technically competent but need to collaborate better to ensure consistency
and quality of Zimbabwean nuts. Werweij, who has 40 years’ experience in
tropical forestry management, visited Zimbabwe through a standing memorandum
of understanding between Netherlands senior expert consultancy, PUM, and
Zimbabwe’s trade development and promotion body ZimTrade.
<http://www.bulls.co.zw/> Read more »

ZCFU projects 525 percent winter wheat harvest growth   

THE Zimbabwe Commercial Farmers’ Union (ZCFU) has projected that this year
winter wheat harvest will grow by at least 525 percent to 125 000 tonnes on
the back of the Command Agriculture programme. In April, Government launched
a 67 000-hectare Command Wheat programme, which at minimal yield was
expected to significantly cut Zimbabwe’s cereal import bill. Under the
Command Wheat initiative, as part of efforts by Government to guarantee food
security, this year’s winter programme targeted 50 000 hectares funded by
petroleum giant, Sakunda. <http://www.bulls.co.zw/> Read more »

RBZ fails to avail Delta’s monthly $5m forex need

DELTA Corporation says it has not received foreign currency allocation in
the past three weeks, leading to sporadic supply of its products on the
market. Delta company secretary Alex Makamure told NewsDay on Friday that
the group requires $5 million in foreign currency on a monthly basis to
import raw materials. “We have not yet received any foreign currency
allocation for the past three weeks and this has negative impact on our
production, as we require it to purchase raw materials needed to make soft
drinks. The business requires at least US$5 million every month to meet its
imported raw materials needs,” he said.  <http://www.bulls.co.zw/> Read more
»

Econet restructures Kwese TV   

The Econet Group has streamlined its media business strategy and service
offerings, to align them with the changes in the global digital and
satellite broadcasting sector on the continent, according to a statement
released by the company last week. The change in strategy will result in
significant changes to its Kwese TV offering which will, with effect from 1
Nov 2018, discontinue current channels and replace them with new free
channel line up to be available immediately. “Having been in the African
market for almost two years, Kwesé has taken time to monitor subscriber
viewing habits and preferences. These insights have guided our efforts to
provide a product range that is aligned to market needs.
<http://www.bulls.co.zw/2018/11/01/govt-raises-30m-from-airtime-tax/> Read
more »

Govt committed to price stability   

FINANCE and Economic Development Minister Professor Mthuli Ncube says
Government is committed to price stability and restoring confidence in the
economy as it moves to achieve an upper middle income economy as espoused in
Vision 2030. Prof Ncube says measures have since been put in place to ensure
availability of basic commodities at affordable prices while other essential
enablers such as fuel are also readily available for economic activity. In
an interview last week, Prof Ncube said the measures were meant to benefit
everyone, from the ordinary citizen, to industry and Government.
<http://www.bulls.co.zw/> Read more »

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Miner eyes Bindura lithium project   

Prospect Resources Plc, which operates Zimbabwe’s brightest batteries
lithium project near Harare has entered into a 90-day option agreement to
acquire the Lipropeg Lithium Project in Bindura, as it seeks further growth
of its resource base of the mineral in Africa. This comes as lithium has
gained global significance due to its growing use in the manufacture of
electric vehicle batteries, as industrialised nations lead the charge
towards reduced carbon emissions, as well as its use in lithium-ion
batteries for home electronics and medicinal drugs.
<http://www.bulls.co.zw/> Read more »

Jail term for using banned light bulbs — Minister   

Government has amended the law that banned the buying and selling of
incandescent light bulbs to now make even use of such lights an offence.
That means families could be fined not just for buying the old-style
filament bulb, but also storing using in their homes. Businesses, schools
and the like are not exempt. “The use of incandescent lights is banned
effective from September 1, 2018,” Energy Minister Joram Gumbo said, in new
laws promulgated under Statutory Instrument 208 of 2018, recently. The
regulati0ns have a table of penalties, but generally use of inefficient
bulbs  (basically incandescent bulbs) under 1000W (the sort of bulb in a
house) results in a $50 fine and seizure and destruction of the bulb.
<http://www.bulls.co.zw/> Read more »

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Formulate tax policy for SMEs, Govt urged   

Government needs to formulate a tax policy that will enable Small-to-Medium
Enterprises (SMEs) meet their obligations and feed into the country’s
fiscus, Zimbabwe Revenue Authority Commissioner General Faith Mazani said.
The suggestion comes amid reports that Government has a tax deficit of
around $4,5 billion from tax dodgers. Currently, Zimra is inviting companies
that are not tax compliant to take advantage of the “voluntary disclosure”
window and regularise their operations on a “no questions asked” basis. The
tax collector said companies and individuals that continue to operate
outside the tax net by December 31 will be dealt with.
<http://www.bulls.co.zw/> Read more »

Brand Zim shines at Botswana expo   

The Zimbabwe Pavilion at the Global Expo Botswana (GEB) took home top
honours on Thursday last week, winning the award for Best Country Pavilion
at the four-day trade show. The pavilion, which was facilitated by trade
promotion organisation, ZimTrade, and included nine companies, stole the
show ahead of numerous other country pavilions including exhibits from South
Africa, China, India, Sweden, Ghana, Kenya, South Korea, and Swaziland. GEB
is Botswana’s première trade event with more than 200 exhibitors from across
the world showcasing their products and services at this multi-sectoral
show. <http://www.bulls.co.zw/> Read more »

Employees hit by RioZim’s temporary closures

KADOMA – Zimbabwe Stock Exchange-listed mining giant RioZim has temporarily
stopped operations amid fears of a total shutdown putting the livelihoods of
more than 2 000 employees in jeopardy. Workers recently received
communication that they were unlikely to get salaries but grocery as
hardship allowance. Rio Zim Head of Corporate Affairs Executive, Mr Wilson
Gwatiringa yesterday confirmed the company’s temporary closure. “RioZim
Limited is ready to resume operations at the gold mines once adequate forex
is availed by the central bank for the importation of mining consumables and
spares. <http://www.bulls.co.zw/> Read more »

Zim govt moots rescue fund for distressed firms

HARARE – The Zimbabwe government is  considering setting up a special fund
to assist distressed manufacturing  companies  retool and boost their
productivity, Parliament heard on Thursday. Faced with crippling foreign
currency shortages coupled with lack of  access to funding for working
capital, Zimbabwean manufacturing industry  is struggling to produce enough
to meet local demand, forcing the  economy to rely on imports to close the
supply deficit. Industry and Commerce Minister, Mangaliso Ndlovu told the
Parliamentary  Portfolio Committee on Industry and Commerce that the
government would  not sit idly by while industry struggled but would not
avail funds for  free.  <http://www.bulls.co.zw/> Read more »

OSAZ earmarks $10 million for irrigation development

HARARE – The Oil Seed Association of Zimbabwe has earmarked $10 million for
irrigation development which is aimed at improving productivity on small
holder farmers across the country. This comes as different stakeholders in
the Agricultural sector are calling on the need to urgently address
irrigation development as a way of boosting productivity in the sector.
Zimbabwe is sitting on vast water resources with about 10 000 dams which
have the capacity to irrigate more that 2 million hectares.
<http://www.bulls.co.zw/> Read more »

$333 million from India. . .Hwange, Bulawayo Power Stations set for upgrades

India has extended a $333 million line of credit to Zimbabwe for the upgrade
of Hwange Thermal Power Station and rehabilitation of Bulawayo Thermal Power
Plant. Of this, $310 million will go towards the Hwange rehabilitation
programme while $23 million will be used on the Bulawayo project. This was
announced in a joint statement released at the end of Indian Vice-President
Venkaiah Naidu’s three-day working visit to Zimbabwe yesterday. VP Naidu
also announced that the Asian country would give Zimbabwe a $19.5 million
soft loan for the Deka Water Pipeline project in Hwange.
<http://www.bulls.co.zw/> Read more »

Zimbabwe looks beyond aid
Borrowing not sustainable, says Prof Ncube   

THE Minister of Finance and Economic Development, Professor Mthuli Ncube,
has said domestic resource mobilisation (DRM) must be the “lifeblood” of
development as Zimbabwe looks beyond reliance on borrowing and donor support
to finance provision of key services. Speaking on the occasion of last
week’s Zimbabwe Revenue Authority (Zimra) appreciation awards event, the
minister said the need for an improved economy, social and infrastructural
development must be driven by a sustainable DRM framework.
<http://www.bulls.co.zw/> Read more » 

INVESTORS DIARY 2018

Company

Event

Venue

Date & Time

REST OF AFRICA

Counters Trading Under Cautionary

NicozDiamond

Ariston

Barclays

Dawn

Unifreight

Hwange

RTG

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.

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