Bulls n Bears Investors Notebook Issue 130:06 November 2018

Tue Nov 6 09:38:35 CAT 2018

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Bulls n Bears Investors Notebook Issue 130:06 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

Invictus releases more details 
680 million barrels of oil in Muzarabani   

THE Muzarabani oil project has high potential to produce 3,9 trillion cubic
feet (tcf) of natural gas and 181 million barrels of conventional gas,
Australia-listed company, Invictus Energy has confirmed. Cubic feet are used
to measure volume in the oil and gas industry. A maiden resource estimate
report released by Invictus yesterday said the Muzarabani project had net
mean recoverable conventional potential of 680 million barrels of oil
equivalent (boe), consisting of 3,9 tcf and 181 million barrels of
condensate or conventional gas. <http://www.bulls.co.zw/> Read more »

Zim should take advantage of Intra-African Trade Fair: Ncube

FINANCE minister Mthuli Ncube yesterday said Zimbabwe should take advantage
of the upcoming Intra-African Trade Fair (IATF) set for next month in Egypt
to improve export market diversification and tap into new markets in the
wake of plummeting intra African trade. “Our thrust, therefore, as a nation
is to diversify our trade within the African continent. As we prepare to be
part of this forum, let us work together to enable us to put our best foot
forward as a nation in terms of our exhibitions and engagements with
potential buyers, suppliers and investors,” Ncube said at an IATF breakfast
meeting..   <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

Packaging materials price hike shocks millers

MILLERS will on Wednesday meet with packaging material manufacturers after
the latter raised their prices by over 500%, sparking fears of another round
of increases for flour, mealie-meal and bread. “Not only have they increased
the prices by, in some instances, 700%. But they are also demanding their
payments in foreign currency and this is the reason why we have arranged
this meeting with them so that we deliberate on the implications to
consumers,” said Grain Millers Association of Zimbabwe general manager,
Lynette Veremu. <http://www.bulls.co.zw/> Read more »

Petrol prices fall

AFTER weeks of chaos, fuel prices in the country fell by at most four cents,
with Energy minister Joram Gumbo attributing this to a dip in international
crude oil margins. A survey around Harare showed that most service stations
had reduced petrol prices from $1,43 to $1,39 per litre, with availability
seemingly having stabilised and queues that had become an eyesore no longer
visible. “We only have a problem with diesel. Petrol supplies have
stabilised. We have enough stocks and that is why maybe the price has
fallen. No retailer wants to hold it for long. The more we sell, the better
the margins. We have been asked to push volumes,” a fuel attendant in Harare
said. <http://www.bulls.co.zw/> Read more »

Cooking Oil Manufacturer Threatens To Blacklist Supermarkets Withholding
Product

United Refineries Limited, the manufacturers of Roil Cooking Oil is planning
to blacklist all retailers who are withholding the cooking oil from
customers. Chief Executive Officer at United Refineries Limited Busisa Moyo
has expressed concern at the fact that some supermarkets are only selling
cooking oil at the checkout point to people who would have bought groceries
for a certain amount in the shop. Moyo promised to take action by
blacklisting such retailers. Writing on social media and giving an update,
Moyo said.  <http://www.bulls.co.zw/> Read more »

Zamco absorbs $200m bad debt   

THE Zimbabwe Asset Management Company (Zamco) has resolved nearly 20 percent
of the $1,1 billion Non-Performing Loans that the asset management company
took over from the banking sector. In 2014, the Reserve Bank of Zimbabwe
(RBZ) created Zamco to mop up NPLs after an insidious culture of
dishonouring credit obligations took root, choking banking institutions from
providing fresh loans to the market..
<http://www.bulls.co.zw/2018/11/01/govt-raises-30m-from-airtime-tax/> Read
more »

Zimbabwe to receive drugs, ambulances from India

Indian Vice-President Shri Venkaiah Naidu, who left the country yesterday,
assured President Mnangagwa that his country will offer immediate assistance
to Zimbabwe's health sector, in what has come as timely shot in the arm for
the healthcare industry which is currently facing challenges in the supply
of drugs and lack of modern expertise.  Zimbabwe is expected to receive an
assortment of drugs, ambulances as well as benefit from India's medical
inventions to kick-start what is set to be a long term partnership between
the countries in the health sector.    <http://www.bulls.co.zw/> Read more »

 <mailto:info at bulls.co.zw> 

AMG seeks approval to supply basic commodities   

The African Medallion Group owned by South Africa based Zimbabwean
businessman, Frank Buyanga, has written to Government requesting to assist
with the procurement and delivery of fuels, pharmaceutical products and
other critical commodities that are in short supply in the country. This is
contained in a letter AMG chairman Mr Estee Mamman, wrote to RBZ Governor Dr
John Mangudya on October 29, 2018. The letter gleaned by The Herald Business
and bearing the central bank’s date stamp (receiving), was also copied to
the Minister of Finance and Economic Development Professor Mthuli Ncube.
Reads the letter in part; “In a bid to be responsible corporate citizens, we
find it incumbent upon ourselves to contribute positively to the ongoing
economic (challenges) being experienced by the people of Zimbabwe.
<http://www.bulls.co.zw/> Read more »

‘Cassava Smartech initiative way to go’   

Lands, Agriculture, Water, Climate and Rural Resettlement Ministry says it
highly upholds technological innovations that seek to develop agriculture
productivity. This follows advances made by Cassava Smartech’s EcoFarmer to
digitally enhance farming tips through mobile platform, which is a one-stop
solution platform that gives farming tips, location-specific weather
updates, weekly agriculture commodity market prices and financial services.
<http://www.bulls.co.zw/> Read more »

 <mailto:info at bulls.co.zw> 

Govt mulls sale of stake in Olivine   

GOVERNMENT is considering selling part of its stake in Olivine Industries to
an external investor to raise foreign currency towards recapitalising
operations. This was said by the Minister of Finance and Economic
Development, Prof Mthuli Ncube, yesterday during his tour of Surface Wilmer
plant, the largest cooking oil manufacturer in Southern Africa. Situated in
Chitungwiza, the company is the largest producer of edible oils in the
country and has partnered with the Government in ownership of Olivine
Industries. <http://www.bulls.co.zw/> Read more »

Packaging cost could push up mealie meal price   

The price of mealie meal could increase if tomorrow’s deliberations between
millers and packaging manufacturers fail to reach a consensus after the
latter increased cost of packaging by over 500 percent. Manufacturers of
packaging for mealie meal and bread more than doubled their prices, a
situation that is likely to see the prices of mealie meal going up from the
current average price of $5,50 for 10kg of roller meal.
<http://www.bulls.co.zw/> Read more »

ZSE suspends Hwange Colliery Company

THE Zimbabwe Stock Exchange (ZSE) Limited has suspended Hwange Colliery
Company from trading on the bourse following its placement under
administration. Last week, the Zimbabwean government — which owns 38% of
Hwange — published a Government Gazette notice, placing the mine under
administration. “The Zimbabwe Stock Exchange Limited hereby notifies the
investing public of the suspension from trading of Hwange Colliery Company
Limited with effect from November 2, 2018 following its placement under
administration in terms of the Reconstruction of State Indebted Insolvency
Companies Act. The suspension is for the duration of the administration
period,” ZSE acting chief executive, Martin Matanda, said in a statement.
<http://www.bulls.co.zw/> Read more »

Harare scouts for waste management partner

Harare City Council has tasked the town clerk Hosiah Chisango to source for
partners to turn waste into energy as the local authority seeks to increase
its revenue base from available resources. Minutes of the business committee
tabled at last week’s full council meeting state that councillors tasked
Chisango to engage potential investors in waste energy production so that a
joint venture could be entered into.  <http://www.bulls.co.zw/> Read more »

Kwesé TV pulled plug after losing court case

Econet Wireless pulled the plug on its pay satellite service, Kwesé TV last
week after losing a Supreme Court battle in which the Broadcasting Authority
of Zimbabwe (BAZ) successfully argued that it was not compliant with the
law. Kwesé TV has been broadcasting in Zimbabwe through a licence which was
awarded to Dr Dish. The High Court in September last year allowed the
operation to continue pending the challenge by BAZ, which argued that the
licence issued to Dr Dish was no longer valid after it “was cancelled by the
authority for failure by Dr Dish to provide service”.
<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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