Bulls n Bears Investors Notebook Issue 125:30 October 2018

Tue Oct 30 09:16:22 CAT 2018

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Bulls n Bears Investors Notebook Issue 125:30 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

Zimbabwe's 2018 budget deficit seen at 11.1 percent of GDP

HARARE (Reuters) - Zimbabwe's budget deficit will more than double to 11.1
percent of gross domestic product this year from an initial forecast of 5
percent due to runaway government spending, a senior treasury official said
on Monday. President Emmerson Mnangagwa's government cranked up spending by
increasing public sector salaries and purchasing farming inputs for rural
farmers ahead of a disputed July 31 presidential election.
<http://www.bulls.co.zw/> Read more >

Zimbabwe lithium miner sees first production in Q2 next year

HARARE (Reuters) - Zimbabwe Lithium Company (ZLC) expects to complete a
pilot plant and start production of lithium concentrates in the second
quarter of 2019 after a legal dispute delayed work on the project, its chief
executive said on Monday. John McTaggart said ZLC was in discussion with
several finance groups and was confident of securing funding for the plant,
which it expects to produce its first concentrates of 4,000 tonnes per month
in the second quarter of next year.  <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

Turning past failures into present success: Finding international markets
for mangoes from The Gambia

In 2014, seasoned entrepreneur Momarr Mass Taal launched Tropingo Foods, a
food processing and exporting company that adds value to local crops for
export. Today, Tropingo Foods is one of the largest processors and exporters
of processed foods in The Gambia, creating employment for over 250 women and
youths. It processes and exports dried mangoes and groundnuts from the
Gambia to different places around the world, but mainly to Nigeria, Senegal,
the Netherlands, and China. <http://www.bulls.co.zw/> Read more >

Financial markets tipped to remain volatile

ZIMBABWE'S financial markets are likely to remain volatile until nostro
foreign currency accounts (FCAs) meet the demand in the real time gross
settlement (RTGS) accounts, a local financial services firm has said. IH
Securities also said by separating the accounts into separate dedicated FCAs
and electronic accounts, the central bank was admitting they were not at
par. <http://www.bulls.co.zw/> Read more >

Tony Elumelu sponsors 21 Zim entrepreneurs

About 21 Zimbabwean entrepreneurs are among 1 000 young persons who will
benefit from the latest round of the Tony Elumelu Entrepreneurship
Programme's (TEEP) $100 million fund. TEEP is a brainchild of Nigerian
billionaire, Tony Elumelu, one of Africa's most successful entrepreneurs who
in 2015 launched Africa's largest philanthropic fund to nurture a culture of
entrepreneurship among the youth. <http://www.bulls.co.zw/> Read more >

ED, business in candid talks   

President Mnangagwa yesterday held candid discussions with captains of
industry, retailers, bankers and consumers with a view to locate challenges
and possible solutions to problems faced in production of goods and
services. The no holds-barred discussions were held from 0830hrs to about
1230hrs at State House in Harare. Journalists only covered President
Mnangagwa's keynote address, before being asked to leave the interactive
session between Government and business. <http://www.bulls.co.zw/> Read more
>

Banks fingered in US dollar scams   

Market indiscipline in the local financial services sector necessitated the
separation of Foreign Currency Accounts (FCAs) and real time gross
settlement (RTGS) accounts, Finance and Economic Development Permanent
Secretary George Guvamatanga has said. Appearing before the Parliamentary
Portfolio Committee on Finance and Economic Development, Mr Guvamatanga said
the separation of FCAs and RTGS accounts had become necessary as some banks
had begun cheating their clientele of part of their United States dollar
savings. <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Value addition adds shine to minerals   

Government's insistence on value addition of minerals added shine to
Zimbabwe's export earnings last month, as sales from shipments of platinum
group metals matte jumped 1 500 percent to $61 million. It was $3,8 million
in the comparative period last year. This follows the commissioning of a $60
million smelter at Unki Mine in Shurugwi. Statistics from the Minerals
Marketing Corporation of Zimbabwe (MMCZ) indicate that the impressive growth
pushed overall sales from minerals - except gold and silver - to $1,2
billion in the January to September period from $1,1 billion a year ago,
representing a 6 percent rise. <http://www.bulls.co.zw/> Read more >

Low levels of agric productivity costly for Govt: Paper   

The low levels of productivity in the agricultural sector necessitated
Government to pay unsustainable high producer prices that have resulted in
budget deficits amounting to several billions of dollars, this is according
to the 2019 Pre-Budget Strategy Paper (Strategy Paper) that was prepared by
the Ministry of Finance and Economic Development. According to the Budget
Strategy Paper, which has since been presented before Cabinet, low
productivity in agriculture is compromising competitiveness of locally
produced agro-products in relation to regional and international contenders,
threatening viability of the sector and the economy at large.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Fuel situation stabilises   

THE fuel supply situation in the country has stabilised after local
petroleum giant Sakunda Holdings and its partners last week provided
Government with 100 million litres of fuel, which will only be paid for
after 12 months. This comes amid revelations that to ensure adequate fuel
supplies over the next 18 months, Government and Sakunda are finalising a
deal that will see the latter supplying the country with 1,6 billion litres
of fuel. Other players like Independent Petroleum Group (IPG), Glencore,
Engen and Total have also chipped-in and are working on various structures
with Government. <http://www.bulls.co.zw/> Read more >

Blanket mine lowers production targets

HARARE - Gold producer, Blanket mine has  lowered its production forecast
for the year despite recording improved  output in the quarter ended
September 30. Blanket mine, which is located in Gwanda, Matabeleland South
Province,  is one of the biggest producers of gold in Zimbabwe. In a
quarterly production update, its parent company Caledonia Mining
Corporation said third quarter production stood at approximately 13 978
ounces, 10 percent above second quarter production but three percent  below
the same period last year. Gold produced for the nine months to September
30, 2018 was 39 559  ounces, marginally behind the 39,710 ounces produced in
the  corresponding period in 2017. <http://www.bulls.co.zw/> Read more >

WorldRemit records 20pc surge in cash-pick up service

HARARE - WorldRemit, says it has seen a 20 percent increase in transactions
to cash pick up locations in Zimbabwe in the in the first half of October as
compared to the same period in September. In a statement, the global money
transfer agent said the recent surge in cash transactions is on the back of
partnerships with local banks and additional cash pick up points. "This
recent surge follows consistent growth in transactions sent to cash pick-up
locations over the last year, since worldRemit stepped in to bring USD in
cash into Zimbabwe. <http://www.bulls.co.zw/> Read more >

BULAWAYO - Companies in Bulawayo have resorted to short-time working hours
due to shortage of raw materials as foreign currency shortages continue to
take its toll, the Confederation of Zimbabwe Industries (CZI) has said. In
an interview, CZI Matabeleland Chamber president Mr Joseph Gunda said a
number of companies such as General Beltings, Shepco Industries and Zimplow
have started sending their workers home because of depressed productivity
caused by foreign currency constraints. "We are in a tight spot as forex
shortages hit industries harder. Generally most of us, it has been almost
three weeks with no allocations and most of the industries rely on the
importation raw materials and without allocations the situation is getting
worse," he said.  <http://www.bulls.co.zw/> Read more >

Command agriculture to continue for next 10 years   

THE Command Agriculture programme introduced by Government in 2016 will
continue for the next 10 years as it has proved to be a success, an official
has said. In his address at the Africa regional conference in Victoria Falls
on Wednesday, Air Force of Zimbabwe Commander Air Marshal Elson Moyo said
Command Agriculture has had a huge impact on Zimbabwe's economy. PKF
Chartered Accountants, an international accounting and audit firm with
offices in Zimbabwe, hosted the rotational conference on behalf of Zimbabwe.
<http://www.bulls.co.zw/> Read more >

Russian billionaire jets into Zimbabwe for investment deal

Russian billionaire, Mr Dmitry Mazepin has arrived in the country for talks
with the government this week about investment in Zimbabwe's fertiliser
industry. Agriculture is the mainstay of the economy but it has been hit
hard by shortages of fertiliser with prices of the commodity being sold
beyond the reach of many people. One of the biggest producers of fertliser,
Chemplex is reeling under financial challenges and its main investor, the
Industrial Development Corporation (IDC) recently announced plans to sell
controlling stake in the company. <http://www.bulls.co.zw/> Read more >

Lifting Import Restrictions Does Not Address Forex Challenges Faced By Local
Industries - CZI

The Confederation of Zimbabwe Industries (CZI) has said that the
government's decision to indefinitely remove all import restrictions is not
well thought out because it does not address the challenges faced by local
industries. CZI president Sifelani Jabangwe said the issue of inadequate
foreign currency will still need to be addressed and will actually become
worse. Said Jabangwe.  <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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