Bulls n Bears Investors Notebook Issue 122:24 October 2018

Wed Oct 24 09:10:37 CAT 2018

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Bulls n Bears Investors Notebook Issue 122:24 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

Govt indefinitely lifts imports ban   

Government has amended indefinitely Statutory Instrument (SI) 122 of 2017 to
allow companies and individuals with offshore and free funds to import
specified basic commodities that are in short supply due to the speculative
behaviour of local retailers and panic-buying by consumers. The decision to
amend SI122 was reached by Cabinet at its sitting yesterday and announced by
Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa
at a weekly media briefing. She said Acting Minister of Industry and
Commerce Dr Sekai Nzenza presented to Cabinet the prevailing situation in
the market regarding the availability and prices of basic commodities. "The
continuing increases in prices effectively push the commodities beyond the
reach of many of our people," Minister Mutsvangwa said.
<http://www.bulls.co.zw/> Read more >

'Govt policy measures scaring away investors'

EXCHANGE control measures recently introduced by the Reserve Bank of
Zimbabwe (RBZ) are scaring away foreign investors who were considering
investing in the country, Western diplomatic sources have said. The
measures, which kicked in this week, give the government authority to retain
up to 70% of foreign currency export earnings through the central bank. The
measures also allow third parties - such as retailers, technology groups and
rival lenders, who are referred to as authorised dealers - access to
customers' accounts. To facilitate the changes, banks were given until
Wednesday this week to separate nostro foreign currency accounts from Real
Time Gross Settlement (RTGS) accounts.   <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

Pure Oil invests $9m in soya farming   

PURE Oil Industries, one of Zimbabwe's major cooking oil producers, says it
has invested $9 million towards supporting contract farmers to produce soya
bean required for the manufacture of edible oils, with other producers
expected to follow suit. The Workington-based company's head of operations,
Rodreck Musiyiwa said in an interview that the company has contracted
farmers over the last three years to produce soya bean. This comes amid
acute shortage of cooking oil in the country due to limited availability of
foreign currency required to import the major ingredient for production of
edible oils; crude oil. As a company, Pure Oil Industries said it was
currently supplying the domestic market with an average of 350 tonnes of
refined cooking oil on a daily basis, if production is not interrupted.
<http://www.bulls.co.zw/> Read more >

Zimnat Asset Management customises investment management   

Zimnat Asset Management (ZAM) provides carefully constructed, individually
customised and separately managed accounts. These discretionary and
non-discretionary portfolios allow clients to define their own parameters
for returns and liquidity based on their risk tolerance, cash flow needs and
investment horizon. A research team holds detailed discussions with
prospective clients to establish the desired investment objective,
performance benchmark and expected risk/return characteristics, among other
requirements. Critical elements of our separately managed accounts include:
<http://www.bulls.co.zw/> Read more >

Mastercard reaffirms interest in Zim   

MASTERCARD president and CEO Mr Ajay Banga, has reaffirmed his company's
willingness to set up office in Zimbabwe, to support the country's drive to
create a new wave of digital payments and inclusive growth. Mr Banga said
this in Harare on Monday during the company's CEO Conversations event, a
gathering of senior leaders from top financial institutions, mobile network
operators and retailers. "Too many people and businesses are still excluded
from the financial mainstream," said Mr Banga. "This leaves them without the
things we take for granted; a way to save money for a rainy day, get loans,
or insure themselves or their crops.  <http://www.bulls.co.zw/> Read more >

We've a good plan, trust us: Ncube

Political legitimacy, economic bailout and the draconian Public Order and
Security Act (Posa) and Access to Information and Protection of Privacy Act
(Aippa) laws are some of the topics Zimbabwe's new Finance and Economic
Development minister Mthuli Ncube addresses in this interview with NewsDay
assistant editor, Alfonce Mbizwo. ND: How is Zimbabwe going to get out of
the current economic situation? MN: You mean the economic malaise? I firmly
believe that the Transitional Stabilisation Programme economic package is
the way out of this because it clearly identifies the problem areas
economically and also legislatively, but critically, we have a solution for
each of these. The main issue now I think is about communicating clearly
that this is a marathon, not a sprint and calling for patience. I know at
times it's asking for too much by asking people to be patient and they'll
say for how long? But that's how long it will take for the damage that has
been done since 2000. It's difficult trying to fix things quickly and it
will take time. There are, however, some quick wins which we can achieve.
<http://www.bulls.co.zw/> Read more >

Chloride Zim increases market share

BATTERY manufacturer Chloride Zimbabwe says its market share has risen to
69% after the government banned the importation of batteries as part of
measures to protect the local industry. Chloride Zimbabwe is a wholly-owned
subsidiary of ART Corporation. The company's head of marketing, Panganai
Kufakunesu, told NewsDay that their market share grew from 54% in 2011 to
the current 69%. "Our market share in 2011 was at 54% and now it has grown
to above 69%, and we are quite happy about that. This is due to the fact
that we improved the product supply as well as the support we get from
government. We used to have 11 distribution branches in 2014 and now we have
over 25 branches countrywide. This has assisted us to improve the market
share," Kufakunesu said..  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Treasury to pay $4m monthly to settle airlines debt

The Ministry of Finance and Economic Development has made an undertaking to
pay $4 million monthly to foreign airlines who were currently owed $150
million, NewsDay has established. Foreign airlines flying into the country
have not been able to repatriate ticket sales due to the acute shortage of
United States dollars, and were cumulatively owed $150 million. Some had
threatened to pull out of the country, prompting Tourism and Environment
minister Priscah Mupfumira to meet with Treasury at the weekend for a
solution. The meeting was attended by central bank governor John Mangudya,
Finance minister Mthuli Ncube, representatives from airlines, officials from
the Tourism Business Council of Zimbabwe, Safari Operators and the Zimbabwe
Tourism Authority.  <http://www.bulls.co.zw/> Read more >

95% of mining land in Mat'land under EPOs

ABOUT 95% of mining land in Matabeleland is now under exclusive prospective
orders (EPOs), making it hard for new players to enter the mining sector, a
youth advocacy group has said. 

Community Youth Development Trust (CYDT) convened an all-stakeholders
meeting in Gwanda last week to deliberate on the issues affecting the mining
sector, and it discovered that 95% of the mining land in the region was
under EPOs. "CYDT notes with sadness that while the organisation is
clamouring for young people in the mining sector to formalise their
activities, this seems like a pipe dream as 95% of mining land in
Matabeleland is now under exclusive prospective orders," the organisation
said.

 <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Econet Finally Talk of Launching Their Uber Service :Vaya Lift

We have been waiting for this! Econet is going to launch its ride-sharing
service Vaya Lift.  The Cassava Smartech which is the parent company where
services such as EcoCash, EcoFarmer are roofed will be in charge of this
ride-sharing service. According to Mr Darlington Mandivenga, the Cassava
International  Group Executive Director, Econet is planning a big launch of
Vaya Lift. "We will be launching this door-to-door, smart transportation
service anytime before the end of the month and we are excited about the
sheer convenience it will bring to both the consumer and business markets"
Mr Mandivenga said.  "By Christmas of this year, we hope to add parcel
delivery and other logistical services to our service bouquet

 <http://www.bulls.co.zw/> Read more >

Fuel prices go up again

Cost of fuel prices have gone up for the second time in two months, amid
serious shortages of the commodity across the country. A survey by the Daily
News yesterday showed that the price for both petrol and diesel has
increased by two cents, with the former fetching $1,43 from $1,41, while the
latter has gone up to $1,35 from $1,33. Energy and Power Development
minister Joram Gumbo, pictured, confirmed the increase, saying it was a
result of pricing trends on the global market.  <http://www.bulls.co.zw/>
Read more >

Forex crunch chokes book industry

ZIMBABWE International Book Fair (ZIBF) executive board chairperson Jasper
Maenzanise yesterday said the foreign currency shortages afflicting the
country have not spared the ailing book industry which relies on imported
raw materials. Addressing the ZIBF indaba, Maenzanise said foreign currency
shortages have negatively impacted the industry, which largely relies on
imported paper and inks. "The issue of forex is another problem that has
negatively impacted the industry. Printers are in short supply of paper and
ink and they have to import it, but unfortunately, no forex allocation is
coming our way," he said. Maenzanise said the book now had to compete with
other basic necessities like food, which are often prioritised.
<http://www.bulls.co.zw/> Read more >

Chitando appoints new MMCZ board   

Mines and Mining Development Minister Winston Chitando has appointed a new
seven-member board for the Minerals Marketing Corporation of Zimbabwe
(MMCZ). The board will be chaired by Mr David Murangari. Other notable
appointments include Chamber of Mines of Zimbabwe chief executive Mr Isaac
Kwesu and former Hwange Colliery Company Limited board member Mr Jermister
Chininga. The appointments are with immediate effect.
<http://www.bulls.co.zw/> Read more >

RBZ suspends four top managers indefinitely   

Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya yesterday
indefinitely suspended four senior managers on allegations of corruption
raised against them by the then chairperson of the Finance and Economic
Development Communication Taskforce, Mr Acie Lumumba. The managers are
Messrs Mirirai Chiremba (Director Financial Intelligence), Norman Mataruka
(Director Bank Supervision), Gresham Muradzikwa (Head of Security) and
Azvinandawa Saburi (Director Financial Markets). "The RBZ wishes to advise
members of the public that following allegations of impropriety levelled
against senior officials of the Bank namely, Messrs Mirirai Chiremba, Norman
Mataruka, Gresham Muradzikwa and Azvinandawa Saburi, by Mr Lumumba, the Bank
has found it necessary, for the sake of transparency and good corporate
governance, that the allegations be followed through and investigated in
line with the Bank's Employment Code of Conduct.  <http://www.bulls.co.zw/>
Read more >

'Cash barons' get the chop

HEADS have started rolling at the Reserve Bank of Zimbabwe (RBZ), with four
top executives being suspended yesterday less than 24 hours after Finance
ministry communications taskforce chairperson William "Acie Lumumba"
Mutumanje implicated them as the brains behind the cash crisis in the
country. In a live Facebook recording on Sunday night, Mutumanje cited that
the country was being held hostage by a cartel, including the RBZ quartet,
which he said was enjoying a monopoly in the country's fuel business and
other corrupt deals. Mutumanje was appointed to head the taskforce on Friday
by Finance minister Mthuli Ncube.  <http://www.bulls.co.zw/> Read more >

TM Supermarkets lifts 'Rest of Africa'

Tm Supermarket boosted profits in the 26-weeks to August 26, 2018,
contributing significantly to South African retailing giant's Pick n Pay
Stores' financial performance during the period. Group management attributed
TM Supermarkets' strong sales and profit growth to competitive promotions
and improved on-shelf availability. The Zimbabwean operation was the best
performer within the Rest of southern Africa division (the group has an
established presence in Botswana, Lesotho, Namibia, Swaziland, Zambia and
Zimbabwe). "Profit before tax was up 7,3 percent to R136,1 million, driven
by an outstanding performance from the group's associate in Zimbabwe, TM
Supermarkets (TM)," said Pick n Pay chief executive officer Richard Brasher
in an analysis of the results for the 26-weeks period.
<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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