Major International Business Headlines Brief::: 07 November 2018

Wed Nov 7 08:10:24 CAT 2018

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Major International Business Headlines Brief::: 07 November 2018

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*  Nissan signs deal to build assembly plant in Ghana

*  Nigeria senate to probe state oil firm over Nigeria LNG revenues

*  Mozambique offers to share gas revenue in "tuna bond" restructuring

*  Venezuelan oil production in 'free fall' - IEA's Birol

*  Kenya's Safaricom takes M-Pesa global with Western Union

*  Uganda to launch next oil exploration bidding licence round next May

*  South African rand under pressure before U.S. midterm elections

*  Randgold Resources says Q3 profit jumps helped by lower costs

*  Sarwa Capital's IPO prospectus contained no irregularities -Egypt's
Beltone

*  Ryanair sacks staff who 'spent night on airport floor' in Spain

*  Prime Minister launches Brexit 'business councils'

*  HSBC bank confirms US data breach

*  Leave.EU and Arron Banks insurance firm face £135,000 in fines

*  PepsiCo launches bid for Pipers Crisps

 <mailto:info at bulls.co.zw> 

Nissan signs deal to build assembly plant in Ghana

ACCRA (Reuters) - Japanese automaker Nissan signed a preliminary deal with
Ghana on Tuesday to set up an assembly plant in the West African country,
company officials and the government said.

Nissan is the biggest car seller in Ghana with a 32 percent market share and
the company plans to make the country its sales hub in West Africa. It
already has a plant in Nigeria.

“We see Ghana as the gateway to West Africa... we will grow our business
presence in the region and it’s for the long term,” Mike Whitfield, Nissan’s
managing director for Africa, told reporters after signing a memorandum of
understanding with Ghana’s trade ministry.

He did not provide further details, saying only that the company’s plans
would hinge on a national auto policy that the government is expected to
launch by the end of the year.

Ghana’s Trade minister Alan Kwadwo Kyeremanten said the government was
considering incentives for Nissan in order to create a business environment
that would allow the company to expand its presence.

German carmaker Volkswagen and China’s Sinotruk have also signed preliminary
deals to build plants in Ghana.

 <mailto:info at bulls.co.zw> 

Nigeria senate to probe state oil firm over Nigeria LNG revenues

ABUJA (Reuters) - Nigeria’s Senate voted on Tuesday to investigate the
alleged withdrawal of $1.05 billion by Nigerian National Petroleum
Corporation (NNPC) from Nigeria LNG (NLNG), a venture owned by the state oil
firm and foreign energy companies.

Nigeria’s Premium Times newspaper reported on Monday that NNPC had used the
NLNG earnings that should have been passed to local and federal state
authorities to fund the state oil firm’s fuel purchases and subsidies during
a shortage in late 2017 and early 2018.

NLNG is owned by NNPC and foreign energy firms Royal Dutch Shell, Total and
ENI,

Officials from NNPC, NLNG, Shell, ENI and Total were not immediately
available to comment.

The Premium Times report said NNPC illegally withdrew $1.05 billion from
NLNG, funds that were meant to be shared between federal, state and local
governments, without authorisation.

The Senate held a debate on Tuesday and voted to investigate the
allegations, saying the money was not allocated to NNPC in the 2018 budget
and so any spending by the state company of the cash was unauthorised.

Senator Bassey Akpan, who brought the motion to investigate, said he was
“bringing the attention of the senate to various emails and complaints from
the general public on the unauthorised withdrawal of $1.05 billion by NNPC
from the NLNG account.”

The fuel shortage at the end of last year and early this year left people
queuing for hours at filling stations and saw NNPC spend at least $5.8
billion on fuel imports.

Mozambique offers to share gas revenue in "tuna bond" restructuring

LONDON/JOHANNESBURG (Reuters) - Mozambique has reached an agreement with the
bulk of its creditors to restructure a $726.5 million Eurobond, including
extending maturities and sharing future revenues from huge offshore gas
projects, the finance ministry said on Tuesday.

Mozambique has been battling to recover from a debt crisis after admitting
in 2016 to $1.4 billion of previously undisclosed lending, much of which was
supposed to be spent on a tuna fishing fleet.

The disclosure prompted the International Monetary Fund and foreign donors
to cut off support to the southern African state, triggering a currency
collapse and a default on sovereign debt.

Under the deal, Mozambique would issue a new $900 million Eurobond maturing
in 2033 with a coupon of 5.875 percent - just over half what the current
outstanding bond was designed to pay in interest.

Principal repayments of the bond, roughly equating to the outstanding sum
plus just over $180 million in unpaid interest, would begin in 2029.

Through a separate instrument, creditors would also receive 5 percent of
future fiscal revenues from the Area 1 and Area 4 natural gas projects,
though payments would be capped at $500 million.

A bondholder close to the situation said the plan would provide Mozambique
with cash flow relief of around 85 percent.

“It is a good deal, there are no winners or losers here. All the parties
wanted to define a package that is fit for the reality in Mozambique,
finding a robust structure with low probability of default in the future and
that will mirror the cash flows,” the investor told Reuters.

Mozambique’s Rovuma Basin boasts natural gas resources of around 180
trillion cubic feet, enough to underpin massive liquefied gas export plants
under development by global energy firms including Exxon Mobil, Anadarko and
Eni.

Eurobond holders had pushed for an instrument linked to the expected gas
windfall, a demand Maputo had previously rejected.

Investors welcomed the change in stance but some said it was not without
risks.

“If we get lower oil prices, higher construction costs or long delays, there
is a risk of significantly lower recovery than $500 million,” the bondholder
said.

The existing bond rallied sharply following the proposal, rising 7 cents to
just above 90 cents.

NOT THERE YET

Yet the deal is not quite over the finishing line.

Support from creditors holding 75 percent of the bond will be needed to
activate the collective action clauses.

Mozambique said the four creditors who had agreed in principle to the
restructuring - Farallon Capital Europe LLP, Greylock Capital Management,
LLC, Mangart Capital Advisors SA and Pharo Management LLC - controlled
around 60 percent of the 2023 bond.

Apart from these four, the steering committee of the Global Group of
Mozambique Bondholders (GGMB) that has headed the talks includes asset
manager Franklin Templeton Investment Management Limited.

“There is still some room to go to get everybody, but I think they must feel
confident they can find that by making that statement,” said Stuart
Culverhouse, head of sovereign & fixed income research at Exotix.

Franklin Templeton did not respond to a request for comment.

The ministry’s statement made no mention of a $535 million loan to
Mozambique Asset Management (MAM) and a $622 million facility for maritime
security projects at Proindicus arranged by Russian lender VTB and Credit
Suisse. Both firms were key organisers of lending to Mozambique, receiving
almost $200 million in fees, according to an independent audit.

“The deal would only make a relatively small dent in Mozambique’s overall
fiscal problem,” wrote William Jackson, chief emerging markets economist at
Capital Economics in a note.

“Mozambique’s public debt ratio, at around 120 percent of GDP, will remain
the highest in sub-Saharan Africa.”

Venezuelan oil production in 'free fall' - IEA's Birol

CAPE TOWN (Reuters) - Venezuela’s crude production was in “free-fall” and
could soon fall below 1 million barrels per day (bpd), the International
Energy Agency’s Executive Director Fatih Birol said on Tuesday.

Speaking to Reuters on the sidelines of the Africa Oil Week conference in
Cape Town, Birol also said that he hoped oil prices would not rise above
current levels this year because it would be bad for the “fragile” global
economy.

“Venezuela production is in a free-fall and we expect that soon it may go to
even below 1 million barrels per day,” he said.

OPEC member Venezuela last year produced more than 2 million bpd, but a deep
economic and social crisis has seen output plummet as millions flee the
South American country.

Asked whether the current oil price of around $73 per barrel was
sustainable, Birol said he hoped there would be no further increases this
year.

“I hope that prices do not rise again because this will not really be good
news for the global economy which is very fragile,” he said, as U.S.
sanctions against Iran and Washington’s trade spat with China add to price
volatility.

Kenya's Safaricom takes M-Pesa global with Western Union

NAIROBI (Reuters) - Kenya’s biggest telecoms operator Safaricom on Tuesday
unveiled a new service on its M-Pesa mobile financial services platform that
will allow users to send money around the world in a partnership with
Western Union.

Started as a simple money transfer service 11 years ago to fill a gap in
Kenya’s formal banking network, M-Pesa has evolved into a fully-fledged
financial service, offering loans and savings in conjunction with local
banks, as well as merchant payments services.

It has also powered Safaricom’s earnings growth in recent years, with
revenue from the service growing at 18 percent in the half year to the end
of September to 35.52 billion shillings ($349.43 million), nearly a third of
the total.

The new service will allow M-Pesa’s 21 million active users to send and
receive money across the world using their mobile phones which will be
connected to Western Union’s half a million agents.

“M-PESA Global seeks to connect Kenyans to opportunities by making it easy
and seamless for them to transact with the world and for the world to
transact with Kenyans,” said Sitoyo Lopokoiyit, Chief Financial Services
Officer at Safaricom.

Users will also be able to send money to bank accounts in the UAE, Germany
and Britain immediately with more countries being added in the coming weeks,
Safaricom said.

Although Safaricom, part owned by Vodacom and Vodafone, has 30 million
subscribers and a commanding lead among Kenya’s three operators in other
services like voice calls, short messages and data, it see M-Pesa as
offering a real competitive advantage due to its reach and experience.

Google Play apps and games store started accepting payments in Kenya through
M-Pesa last February. Safaricom is also exploring the possibility of
expanding M-Pesa into other African nations like Ethiopia.

Users of M-Pesa will be able to access an overdraft facility on their
accounts next week to enable them to pay for goods and services and repay
later, Safaricom said last week.

($1 = 101.6500 Kenyan shillings)

Uganda to launch next oil exploration bidding licence round next May

JOHANNESBURG (Reuters) - Uganda, which is developing oil deposits but has
yet to begin production, will launch its next bidding round for oil
exploration licences in May next year, a government official said on
Tuesday.

Uganda discovered 6.5 billion barrels worth of hydrocarbon deposits 12 years
ago in the Albertine rift basin near its border with the Democratic Republic
of Congo but production has been repeatedly delayed by disagreements with
oil companies over field development strategy and tax disputes.

“We will have a road show first and then we will start the bidding round in
May next year,” Ernest Rubondo, executive director of the Petroleum
Authority of Uganda, told Reuters on the sidelines of the Africa Oil Week
conference.

Total and China’s CNOOC are aiming to begin production in Uganda but both
have said they will not be able to do so before 2021, missing a government
target of 2020.

South African rand under pressure before U.S. midterm elections

JOHANNESBURG (Reuters) - South Africa’s rand weakened in early trade on
Tuesday, in line with falls in stocks amid subdued investor appetite for
riskier assets ahead of U.S. midterm elections later in the day.

At 0650 GMT, the rand traded at 14.1175 per dollar, 0.11 percent weaker,
having closed in New York at 14.1625.

The currency is expected to trade in a range of 14.1000 to 14.4000 to the
dollar on Tuesday, NKC African Economics said in a note.

The rand remained under pressure as markets favoured caution ahead of U.S.
midterm Congressional elections, as policy decisions that could sway the
economy, corporate decision-making and consumer spending hinge on the
results.

Emerging market assets will likely respond inversely to movements in the
U.S. dollar after the elections.

Government bonds were firmer early on Tuesday, with the yield on the
benchmark instrument due in 2026 down 4 basis points at 9.110 percent.

Stocks were set to open lower at 0700 GMT, with the JSE securities
exchange’s Top-40 futures index down 0.37 percent.

Randgold Resources says Q3 profit jumps helped by lower costs

LONDON (Reuters) - Randgold Resources said on Tuesday third-quarter profit
rose 25 percent on the previous quarter helped by lower costs a day before
its shareholders vote on a $6.1 billion tie-up with Barrick Gold.

The London-listed miner said profit for the period reached $73.2 million
while cash costs fell 18 percent versus the previous quarter to $181.6
million.

Gold production slipped 1.5 percent to 308,628 ounces compared to the
previous quarter as an eight-week labour strike at the Tongon mine was
offset by higher output at its other mines.

The strike and improved cost controls at the Loulo-Gounkoto complex in Mali
and Kibali mine in the Democratic Republic of Congo helped lower costs.

Long-time CEO Mark Bristow, who will take the helm at the new Barrick Gold,
said the merger “would be focused on leveraging the combined strengths of
Barrick and Randgold to become the leading gold investment vehicle and
deliver long-term value to all stakeholders.”

Barrick shareholders voted in favour of the tie-up on Monday with Randgold
shareholders expected to cast votes on Wednesday.

Sarwa Capital's IPO prospectus contained no irregularities -Egypt's Beltone

CAIRO (Reuters) - Egypt’s Beltone Financial Holding said that the prospectus
for last month’s initial public offering of consumer finance provider Sarwa
Capital contained no irregularities.

Beltone managed the IPO of Sarwa Capital, whose share price fell sharply
soon after it began trading on Oct. 15.

Beltone has come under criticism by asset managers for the way it allocated
the shares in the private placement.

Last week the regulator suspended Beltone’s underwriting unit from any
activity for six months.

Beltone has an additional 10 mandates from companies for share offerings,
acquisitions and other services, said Sobhy El Sehrawy, head investment
banking at Beltone.

Ryanair sacks staff who 'spent night on airport floor' in Spain

Six Ryanair cabin crew members pictured sleeping on the floor of a Spanish
airport office last month have been sacked, the airline says.

The image, which Ryanair said was staged, was widely shared online. A
Portuguese union that represents airline crews criticised the airline.

The staff were dismissed for gross misconduct, a Ryanair spokesman said.

Over 20 crew members were stranded in Malaga airport when their Porto-bound
flights were diverted on 14 October.

However Ryanair said that despite the issues, "no crew slept on the floor".

"The crew spent a short period of time in the crew room before being moved
to a VIP lounge, and returned to Porto the next day," the company said after
the image circulated.

Confirming the sackings on Tuesday, Ryanair said the photo led to media
reports that damaged the company's reputation and "caused an irreparable
breach of trust with these six persons".

Ryanair tops airline compensation claims

'Racial abuse passenger' referred to police

Ryanair to shut online operations for upgrade

The Portuguese union, SNPVAC, had earlier disagreed with Ryanair's summary
of events, claiming that crew members were placed in a room between 01:30
and 06:00 "without minimum rest facilities".

The union said that crew members were left "without access to food, drinks
and even a place to sit down, as there were only eight seats available for
the crew".

However SNPVAC confirmed that the staff were moved to a VIP lounge at 06:00.

The airline came under fire after the photo appeared on social media.

It was first shared by Jim Atkinson on Twitter, who criticised Ryanair for
not providing adequate accommodation for staff.--BBC

Prime Minister launches Brexit 'business councils'

Prime Minster Theresa May has formed five new business councils to advise on
how to create the best business conditions in the UK after Brexit.

Big names on the forums include Tesco boss Dave Lewis, ITV chief Carolyn
McCall, entrepreneur James Timpson, and CBI head Carolyn Fairbairn.

Each council will meet three times a year, twice with Mrs May and once with
a senior cabinet minister.

They will provide advice and policy recommendations on big business issues.

'Huge opportunity'

Each group will be co-chaired by two business leaders and have "around ten
members representing core sectors of the UK economy, as well as a
representative from the UK's key business groups.

Prime Minister Theresa May said: "Brexit presents a huge opportunity to
build a better, stronger economy for people all over the country.

"So I've asked these new councils to advise us on the opportunities and
challenges facing business as we shape the UK for the future."

Business leaders call for second EU vote

Brexit deal could accelerate interest rate increases

Car parts plants to close on Brexit worries

The co-chairs will be at Downing Street on Wednesday to thrash out their
forthcoming agendas and meetings timetables.

Executives from BT, BAE, Rolls-Royce, Prudential, Santander, Tesco, Timpson,
ITV and GSK will be in attendance, as well as representatives from the CBI,
IOD, EEF, and FSB business groups.

Sir Roger Carr, chairman of BAE Systems and co-chair of the committee
looking at the industrial, manufacturing and infrastructure sectors, said:
"We are a vital part of the wealth creating machinery of the country where
improved training, productivity and exporting will be the cornerstones of
our global success.

"Engaging with the prime minister to tackle these issues in a focused and
practical manner is a welcome and important step forward in achieving our
collective growth ambitions."

Downing Street said the co-chairs would be responsible for preparing each
council's agenda, ensuring all members were briefed and driving progress on
major opportunities for their business sectors.

'Destructive'

The initiative comes days after more than 70 business figures signed a
letter to the Sunday Times calling for a public vote on the UK's Brexit
deal.

The chief executive of Waterstones and former Sainsbury's boss Justin King
were among those saying a "destructive hard Brexit" would damage the UK
economy.

A group called Business for a People's Vote will launch on Thursday.

A Downing Street source told the BBC the Prime Minister was clear that there
would be no new referendum.

The government's overtures to business are rapidly becoming a symphony.

After two years of feeling they were "outside the tent" when it came to
Brexit strategy and policy, Theresa May is welcoming as many business big
hitters back inside as she can.

It's quite a change from 2016.

One of first things Theresa May did when taking over from David Cameron was
to disband his business council. The new prime minister and her advisers had
watched voters, disillusioned with big business, ignore the Brexit warnings
from industry and assessed that being seen as close to them was a political
mistake.

Fast forward to today's announcement that she is founding no fewer than FIVE
new business councils to give "regular, high level advice and policy
recommendations".--BBC

HSBC bank confirms US data breach

HSBC has said some of its US customers' bank accounts were hacked in
October.

The lender said that the perpetrators may have accessed information
including account numbers and balances, statement and transaction histories
and payee details, as well as users' names, addresses and dates of birth.

The BBC understands the firm believes that fewer than 1% of its American
clients were affected.

It said it had already contacted those thought to have been exposed.

"HSBC regrets this incident, and we take our responsibility for protecting
our customers very seriously," the bank said in a statement.

"We have notified those customers whose accounts may have experienced
unauthorised access, and are offering them one year of credit monitoring and
identify theft protection service."

The bank said the online accounts were breached between 4 and 14 October.

It is not clear whether the attackers have tried to make use of the data to
steal savings.

A template of the alert sent to customers has been posted online by the
California Attorney General's Office, although the hack was not limited to
that state.

One expert said it appeared that the technique involved was a "credential
stuffing" in which personal details harvested from elsewhere had been used
to gain unauthorised access to the accounts.

"The information made public so far by HSBC is quite limited," said Prof
Alan Woodward from the University of Surrey.

"It is clearly still investigating what happened whilst taking the actions
necessary to protect customers and advise regulators.

"There's a lot more information we've yet to see, which I hope HSBC makes
public when it has it."--BBC

Leave.EU and Arron Banks insurance firm face £135,000 in fines

Pro-Brexit campaign group Leave.EU and an insurance company owned by its
founder Arron Banks face total fines of £135,000 over breaches of data laws.

It follows an Information Commissioner investigation into the misuse of
personal data by political campaigns.

The report says more than a million emails sent to Leave.EU subscribers
contained marketing for the Eldon Insurance firm's GoSkippy services.

Mr Banks defended himself on Twitter after the report's release.

Data watchdog: Facebook treated voters with 'disrespect'

The Information Commissioner's Office (ICO), he said, had found "we may have
accidentally sent a newsletter to customers" but "no evidence of a grand
data conspiracy".

He added: "Gosh we communicated with our supporters and offered them a 10%
Brexit discount after the vote! So what?"

The background

The UK voted by 51.9% to 48.1% to leave the EU in a referendum in June 2016.

Since then there have been several investigations looking at how the
different campaigns were run, including into how they were funded and how
they used personal data.

For its report, the Information Commissioner has been looking at how
political campaigns use personal data to "micro target" voters.

The ICO said this had been the "most complex data protection investigation"
it had ever carried out, with "an abundance of claims and allegations played
out in public".

It said it had uncovered a "disturbing disregard for voters' personal
privacy".

The investigation was initially prompted by reports in The Observer about
the activities of data firm Cambridge Analytica, which was accused of
improperly harvesting millions of Facebook accounts.

The ICO said it had identified "serious breaches of data protection
principles" and would have issued a "substantial fine" if the company had
not already been in administration.

Data firm closure won't stop Facebook probe

The report says that Leave.EU and Cambridge Analytica did not pursue a
working relationship once Leave.EU failed to obtain designation as the
official leave campaign for the 2016 referendum.

It said Leave.EU had explored creating a new organisation with a "view to
collecting and analysing large quantities of data for political purposes",
but there was no evidence this had ever functioned.

Fines for Banks

Elsewhere in the report, it highlights what it says is the close
relationship between Leave.EU and Eldon Insurance.

Both organisations face fines of £60,000 for emails which breached data
laws.

The ICO said over a million emails between February and July 2017 had been
sent to Leave.EU subscribers, including marketing information about
GoSkippy, without their consent.

It also imposed a £15,000 fine for a separate "serious" breach after a
Leave.EU newsletter was sent to more than 319,000 email addresses on Eldon's
customer database.

A final decision is still to be reached on an alleged breach relating to the
company's overall handling of personal data.

Vote Leave, not Leave.EU, was chosen as the official Leave campaign for the
2016 referendum, and worked with a Canadian analytics firm called AIQ.

The ICO focused its investigation on whether, under this arrangement, UK
data had been processed in Canada outside UK data protection laws.

It said it had found no evidence Vote Leave had "transferred or processed
personal data outside the UK unlawfully - or that it processed personal data
without the consent of data subjects".

But it said it was investigating how Vote Leave delivered "electronic
marketing communications" and whether its actions were a breach of privacy
rules.

"We do have cause for concern and we will be reporting on this imminently,"
it added.

Remain campaigners

The ICO said it was still looking at how the Remain side handled personal
data during the EU referendum campaign.

This includes looking at "the collection and sharing of personal data by
Britain Stronger in Europe and a linked data broker", as well as "inadequate
third party consents", which were similar to issues investigated on the
Leave campaigns, it said.

It also investigated a claim that the Liberal Democrats had sold the
personal data of its party members to the official Remain campaign - Britain
Stronger in Europe - for about £100,000.

This was denied by the Lib Dems and the Stronger In campaign.

"We are still looking at how the Remain side of the referendum campaign
handled personal data, including the electoral roll, and will be considering
whether there are any breaches of data protection or electoral law requiring
further action," the report added.

The ICO said the use of personal data to target political messages had to be
"transparent and lawful if we are to preserve the integrity of our election
process".

"We may never know whether individuals were unknowingly influenced to vote a
certain way in either the UK EU referendum or in the US election campaigns,"
it said.

"But we do know that personal privacy rights have been compromised by a
number of players and that the digital electoral ecosystem needs reform."

How wide are the ICO's concerns?

The ICO said it had questioned more than 170 organisations and gathered 700
terabytes of data - the equivalent of 52.2 billion pages of evidence - and
it hasn't finished yet.

Although its Brexit campaign-related findings will dominate today's reports,
its concerns go wider.

The watchdog's report said all the UK's 11 major political parties were
engaged in risky behaviour and it had sent each a formal warning.

Specifically, the ICO is worried about their use of third-party data brokers
and analytics firms that pull in and process the public's personal
information via a variety of sources without necessarily checking that
consent has been properly obtained.

In addition, it believes that self-regulation by Facebook and other social
media firms has not been consistent or rigorous enough and now believes a
code of practice "enshrined by law" is required to govern the way their data
and platforms are used.

The regulator also highlighted deep concerns about university researchers'
handling of personal data.

It said that while measures were in place to try to make sure academics
behaved ethically, the same could not be said for whether they had taken
enough steps to protect the public's information - particularly in cases
where the same academics also did work for private companies.

As a result, the ICO said it was now working with the higher education
sector to make sure privacy rules are followed.--BBC

PepsiCo launches bid for Pipers Crisps

PepsiCo is taking another step into the UK snack market by launching a bid
to acquire Lincolnshire crisp company Pipers Crisps.

PepsiCo already owns Leicester-based Walkers Crisps and American firm
Doritos and wants to grow Pipers in the UK and develop its exports.

The international food and drink company's bid is subject to approval by the
Competition and Markets Authority.

Farmers Alex Albone, Simon Herring and James Sweeting founded Pipers in
2004.

Based in rural Lincolnshire, it employs more than 75 local people.

Pipers' managing director, James McKinney, said: "We've developed innovative
products to suit evolving tastes while establishing a strong foothold in the
market.

"PepsiCo's commitment to accelerating the growth of the Pipers brand means
more people will be able to enjoy the unique, award-winning flavour of
Pipers Crisps."

The UK is the top crisp market in Europe, worth some £1.46bn, ahead of
Germany (£760m) and France (£550m), according to Mintel.

Ian Ellington, PepsiCo UK's general manager, said: "The Pipers' brand has a
strong proposition within the market, with stand-out taste, flavours and
appeal."

Pipers delivers directly from a number of its own regional hubs across the
UK using its own vans, as well as supplying customers through selected
distribution partners.

The company also exports extensively, now selling to 37 countries worldwide.

In 2017, it was named as one of the 50 fastest-growing food and drink
businesses in the UK in The Grocer magazine's annual Fast 50 list.

PepsiCo hopes to complete the deal in early 2019.--BBC

INVESTORS DIARY 2018

Company

Event

Venue

Date & Time

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&usg=AFQjCNFoIy6F9IXAiYnSoPSgWDYsr8Sqtw> www.bulls.co.zw/blog

Twitter:         @bullsbears2010

LinkedIn:       Bulls n Bears Zimbabwe

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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