Bulls n Bears Investors Notebook Issue 181:04 October 2018

Thu Oct 4 10:29:19 CAT 2018

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Bulls n Bears Investors Notebook Issue 181:04 October 2018

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

Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

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

Cement sector has excess capacity: Lafarge   

ZIMBABWE'S cement industry has excess capacity to meet the 1,3 million
tonnes annual domestic demand as the sector has an installed capacity of 2,4
million tonnes, an official has said. Last month the market experienced
cement shortage, which the country's largest cement producer, PPC Zimbabwe,
attributed to annual maintenance works at its factories in Harare and
Bulawayo.  <http://www.bulls.co.zw/> Read more >

Body to expedite artisanal miners registration   

The Zimbabwe Miners Federation's Special General Council has directed its
leadership to expedite the nationwide registration of artisanal and
small-scale miners to properly position them to benefit from Government and
private sector mechanisation efforts. ZMF is the umbrella body representing
small-scale and artisanal miners who, according to Mines and Mining
Development Minister Winston Chitando, are important to the sector's output
as the country's geology dictates that some deposits are more amenable to
small-scale mining as opposed to conglomerate operations.
<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

'Dispose of non-performing parastatals'   

GOVERNMENT should trim its costs by disposing of non-performing state-owned
enterprises and engaging competent private sector players to run them, an
economic expert has said. Contributing during the recent Confederation of
Zimbabwe Industries (CZI) annual congress and international investment
indaba in Bulawayo, University of Zimbabwe economics Professor and
Government advisor, Ashok Chakravati, said it was not sustainable for
Government to keen nursing poor performing entities at a time it was
battling high costs against limited revenue. <http://www.bulls.co.zw/> Read
more >

KPMG South Africa to hire external CEO after corruption scandal

JOHANNESBURG - KPMG South Africa said on Wednesday it was looking for a new
chief executive from outside the company to restore the auditor's reputation
after a corruption scandal that saw it lose several major clients. Current
Chief Executive Nhlamulo Dlomu, was promoted from within the company after a
clear out of management last year due to work done for a company owned by
the Gupta family - friends of former president Jacob Zuma who were accused
of influencing the award of government contracts.. <http://www.bulls.co.zw/>
Read more >

Sub-Saharan Africa's growth slower, says World Bank   

The World Bank says the Sub-Saharan African economies are still recovering
from the slowdown in 2015-16 although the growth is slower than expected. In
its bi-annual analysis of the state of African economies, the October 2018
issue of Africa's Pulse, the World Bank indicated that the average growth
rate in the region is estimated at 2.7 percent this year representing a
slight increase from 2,3 percent last year. "The region's economic recovery
is in progress but at a slower pace than expected," World Bank chief
economist for Africa Mr Albert Zeufack, was quoted as saying in African
Pulse. <http://www.bulls.co.zw/> Read more >

'Underground operations viable at Tungsten Mine'   

Zimbabwe-focused diversified mining group Premier African Minerals, says a
study from consultant Bara has confirmed that its 49 percent-owned RHA
Tungsten Mine in the country has shown that it would be technically viable
to restart underground  mining. The RHA Tungsten project is located in an
area of historic production - approximately 270km northwest of Bulawayo -
that comprises 50 mineral claim blocks, covering 1 800 hectares, consisting
of 10 owned by Premier and 40 which are under  option. Small-scale surface
and underground mining was conducted at the site between 1931 and 1979.
<http://www.bulls.co.zw/> Read more >

AfDB to finance agric value chain programme   

THE African Development Bank is looking to finance an agricultural value
chain development programme in Zimbabwe to the tune of nearly $20 million,
an official said. Horticulture and beef have been identified as critical
value chains that need urgent support for agricultural transformation, AfDB
senior policy analyst Eric Mariga said recently. The project, which will be
taken to the board for approvals soon, consist of three components - beef
development, horticulture development as well as technical assistance.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Aussie firm to invest in oil drilling   

AN Australian company, Invictus Energy Limited, which recently confirmed the
potential of oil in Muzarabani, Cabora Bassa Basin, in Mashonaland Central
Province, is expecting to spend between $10 to $20 million for each well to
be drilled at the Muzarabani Prospect. The company is, however, still
conducting exploration studies that will determine the best candidates for
drilling, with Muzarabani Prospect being the most likely.
<http://www.bulls.co.zw/> Read more >

Govt launches recovery plan   

GOVERNMENT is expected to launch the Transitional Economic Stabilisation
Programme tomorrow, amid high hopes that it will help to speedily transform
the economy, particularly the re-industrialisation process which is
gathering momentum. Finance and Economic Development Minister Professor
Mthuli Ncube, confirmed this in an interview with The Herald Business on the
sidelines of the Mid Term Monetary Policy Statement announcement on Monday.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Money transfers tax a threat to financial inclusion

Announcing fiscal measures on Monday, Finance and Economic Development
minister Mthuli Ncube said the intermediated money transfer tax had been
reviewed from five cents per transaction to two cents per dollar transacted,
effective October 1, 2018. The decision is a threat to the much-anticipated
financial inclusion. Global, regional and national level policymakers are
increasingly embracing financial inclusion as an important priority for
fostering socio-economic development. These policymakers recognise the
strength of financial inclusion as a driver of economic growth. The
significance of financial inclusion in the economic development agenda has
also been epitomised by the formation of networks and organisations with
specific focus on financial inclusion matters. <http://www.bulls.co.zw/>
Read more >

CABS sues National Blankets over $852k loan

LOCAL financial institution, Central Africa Building Society (CABS) has sued
struggling National Blankets Limited over a five-year-old bank loan
amounting to $852 496. National Blankets has been under judicial management
since 2012 due to viability concerns. It received a $500 000 loan facility
from the CABS under the Distressed and Marginalised Areas Fund (Dimaf), in
2013 but the money failed to change its fortunes. The company, among the
second city's most iconic and oldest, and appeared to be on its way out of
the woods when in 2014, creditors agreed that all debt be converted to
equity at the rate of 50 cents per ordinary share. The creditors, however,
were not keen on putting new money into the company.
<http://www.bulls.co.zw/2018/09/26/retirement-planning-ensures-old-age-is-en
joyed/> Read more >

3 Zim business executives nominated for top Africa award

THREE Zimbabwean business executives and entrepreneurs have been nominated
for the All Africa Business Leaders Awards (AABLA), established to honour
business excellence among business leaders from around the continent. The
nominees are Collen Tapfumaneyi, the chief executive officer of Escrow
Group; Divine Ndhlukula, the founder and managing director of Securico
Security Services and Natalie Jabangwe, the CEO of EcoCash.
<http://www.bulls.co.zw/> Read more >

Policy arrears weigh pension industry

ZIMBABWE'S pension industry is plagued by persistent and growing
contribution arrears, a sign that companies and individuals are struggling
to maintain life and income cover, weighed down by a harsh economic
environment. Contribution arrears grew to $ 636,36 million as at 30 June,
2018 from $618,88 million as at March 31 2018, about 14,51% of the
industry's asset base, posing serious liquidity risk according to the
Insurance and Pension Commission (Ipec) half-year report on the period to
June 30, 2018. <http://www.bulls.co.zw/> Read more >

Getbucks profit jumps 25% in H1

GetBucks, a deposit-taking microfinance institution listed on the Zimbabwe
Exchange, has reported a 25% growth in profit after tax in the first six
months of the year, buoyed by a reduction in operating expenses and better
repayment collection efforts. During the financial year ended June 2018,
Getbucks posted a post-tax profit of $4,5 million, up from $3,6million in
the same period in 2017. The microfinance institution restructured its
product offering to ensure better access to credit for our customers, which
resulted in more affordable products but led to a decrease in overall
revenue. <http://www.bulls.co.zw/> Read more >

ZimTrade conference focuses on linkages, export growth

ZimTrade, the country's trade development and promotion organization, today
hosts its annual exporters' conference and awards dinner in Harare, which
focuses on building linkages and partnerships to grow exports. The
State-owned institution has hosted the exporters' conference and awards
since 2012 as a platform to link exporters, trade experts, senior
businesspeople, and policy makers. <http://www.bulls.co.zw/> Read more >

Govt okays POSB equity offering

THE People's Own Savings Bank (POSB) will now be going public or be
partially privatised through a private placement after government, the sole
shareholder, approved a plan to carry out either of the transactions in a
government gazette. The savings bank has received the green light to engage
a consultant to provide consultancy services for the transaction intended to
raise new capital. In the half-year period to June 30, 2018, chairperson
Mathilda Dzumbunu disclosed that POSB was looking to raise $100 million by
2020.  <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.

Invest Wisely!

Bulls n Bears 

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