Bulls n Bears Investors Notebook Issue 164:06 September 2018

Thu Sep 6 06:26:07 CAT 2018

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Bulls n Bears Investors Notebook Issue 164:06 September 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

EcoCash Sets Minimum Amount For ZESA Tokens To $10

I've got good news and bad news. The good news is EcoCash is now buying ZESA
tokens again after weeks of disrupted service. The bad news is there is now
a minimum fee for ZESA tokens. That's right, gone are the days where you
would top up anything less than $10 for a short period, whilst you get your
finances together.  <http://www.bulls.co.zw/> Read more >

Government Instructs Schools To Open EcoCash Accounts

We all know that mobile money platforms (particularly EcoCash) are now the
de facto way of making payments by average Zimbabweans. If an organization
doesn't accept payment through mobile money these days then they stand to
lose much revenue.  <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

Banks, companies under probe  

The Zimbabwe Anti-Corruption Commission is setting up a special
investigating team to focus attention on companies and banks involved in
shady deals in violation of the country's laws. The team will also target
retailers and food outlets who do not bank cash. Most of them are reportedly
channelling the cash into the parallel market. Addressing journalists in
Harare today, ZACC Investigations Committee head Commissioner Goodson Nguni
said the team was aimed at fighting corruption in the country.
<http://www.bulls.co.zw/2018/09/05/nmb-bank-net-profit-surges-broadens-targe
t-market/> Read more > >

Millers Warn Of Imminent Bread Shortages As Wheat Supply Falls To Lowest
Levels Since 2005

The Grain Millers Association of Zimbabwe (GMAZ) has warned that the country
faces an imminent shortage of bread due to low levels of wheat. In a memo,
the GMAZ warned that the wheat levels have fallen to their lowest since 2005
due to the fact that the Reserve Bank of Zimbabwe has not been allocating
foreign currency for the payment of the wheat. Most of the wheat is imported
from British company Holbud Limited which is already owed $12.5 million.
Part of the memo written by the association's general manager, Lynette
Veremu, on September 4 to the group's chairman Tafadzwa Msarara, reads, The
national wheat supply situation has severely deteriorated to low levels
since 2005.the available stocks are 28028.116 against a required minimum
national three-month stock level of 114,000 metric tonnes. The current
monthly national requirement is 38,000 metric tonnes.
<http://www.bulls.co.zw/> Read more >

Central Vehicle Registry Runs Out Of Number Plates

In an interview with The Chronicle, Vehicle Inspection Department (VID)
Director, Mr Johannes Pedzapasi confirmed that the Central Vehicle Registry
(CVR) has run out of vehicle registration plates. Pedzapasi said the
shortage had been caused by a delay in shipment of the plate-making material
from Germany where Zimbabwe sources the material which is then stamped with
the numbers locally. Said Pedzapasi:  <http://www.bulls.co.zw/> Read more >

Mangudya Says Wheat Supply Under Control As RBZ Owes Wheat Supplier $12
Million For Maize Supplied In 2016

The Herald reports that Reserve Bank of Zimbabwe (RBZ) governor John
Mangudya has said that the wheat supply situation in the country was under
control despite reports that six millers had suspended operations due to
shortages. The Herald states Mangudya said the situation was "under control"
as the central bank had put in place measures to ensure uninterrupted
supplies of "essential imports. In a memo the Grain Millers Association of
Zimbabwe (GMAZ) said RBZ failed to release $12,5 million for importation of
wheat resulting in depletion of stocks.  <http://www.bulls.co.zw/> Read more
>

NRZ sues GMB over $710K rental arrears

NATIONAL Railways of Zimbabwe (NRZ) has petitioned the High Court seeking an
order to compel the Grain Marketing Board (GMB) to pay $710 696 in rental
arrears and another order to evict the parastatal from its premises over
breach of a lease agreement. According to summons filed at the High Court on
September 4, 2018, the premises in issue are the Grain Marketing Board
Railway Reserve Depot, Nandi and the GMB depot in Rutenga, Masvingo.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Fuel shortage rocks Zim

ZIMBABWE'S economic challenges continue to mount with key towns, Beitbridge
and Victoria Falls, running out of fuel. The fuel shortage comes at a time
the country is facing a wave of price increases, which observers say are
linked to foreign currency shortfalls. Motorists in Beitbridge, sub-Saharan
Africa's busiest port, have been sourcing fuel from the black market for the
past couple of days as all the nine service stations in the border town have
run dry. Fuel vendors in Beitbridge cashed in on the shortage, with most of
them getting supplies from South Africa's border town, Musina selling two
litres for at least $3 at almost every street corner in Dulivhadzimo
high-density suburb.  <http://www.bulls.co.zw/> Read more >

Govt must swiftly move in to avert crisis

IT'S futile for government to bury its head in the sand and pretend all is
well in light of the ever-increasing prices of basic needs coupled with
shortages of money in the banking system. It's undeniable that the economy
is on a nosedive and the sooner corrective measures are taken, the better.
Two days ago, we ran a story about the sharp increase in prices of basic
commodities since the July 30 elections, and elsewhere in this edition, we
carry an article on fuel and wheat shortages, a sign that all is not well
with the economy. The Reserve Bank of Zimbabwe (RBZ), which is supposed to
issue foreign currency to critical sectors of the economy which need hard
currency to import enabling materials, is grappling with the huge demand for
forex, and has not managed to clear the backlog for payments to some sectors
like the milling industry, whose monthly import demands stand at $12,4
million.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Huge turnout at Sanganai expo   

Several companies were still trickling to Bulawayo yesterday for the
on-going 11th edition of the Sanganai/Hlanganani World Tourism Expo, which
has received overwhelming response from local exhibitors and international
buyers. The City of Kings is hosting one of Africa's prime tourism and
travel showcases, which has attracted 325 companies and 150 buyers,
according to organisers, the Zimbabwe Tourism Authority (ZTA). There are 23
countries participating at this year's exhibition, housing more than 77
companies in sharing stands, which is the highest recorded since the
re-branding of the expo. "This year has seen an overwhelming response from
quality exhibitors with many companies still trickling in last minute. We
have had to extend the exhibition space to allow for interested companies to
showcase at this premier event," ZTA chief executive officer, Mr Karikoga
Kaseke, told journalists during a briefing.  <http://www.bulls.co.zw/> Read
more >

Delta invests $260k in road upgrade   

Delta Corporation, a key player in economic development, has invested over
$260 000 towards the upgrade of a road junction that links its Fairbridge
Chibuku Super plant with the Harare-Bulawayo Highway. Even after the
refurbishment of the Plumtree - Harare - Mutare highways by Group Five to
the tune of $206 million, the area around the Fairbridge Chibuku Super plant
would be congested particularly during periods due to the high number of
heavy vehicles getting into or leaving the plant since its rehabilitation in
2016. The heavy vehicles will be transporting either raw materials or
finished products.  <http://www.bulls.co.zw/> Read more >

African Sun profit up 672pc   

Hospitality group, African Sun Limited, reported earnings growth for the
half year to June 30, 2018 as operating profit surged 672 percent to $3,8
million on good business during election period. Revenue rose 29 percent to
$27 million buoyed by increased volumes at its hotels. Basic earnings per
share increased 1 700 percent to 0,36 cents from 0,02 cents in the
comparable prior year period. During the period under review, Zimbabwe
witnessed an increase in foreign arrivals as observers from all over the
world flocked the country to observe the election. The election campaign
period was generally peaceful, and economists have said this should continue
boosting investor confidence across sectors of the economy during the
remainder of the year and going forward.  <http://www.bulls.co.zw/> Read
more >

Council of Tourism refocuses   

THE Zimbabwe Council of Tourism (ZCT) has re-branded and morphed into the
Tourism Business Council of Zimbabwe (TBCZ) a move that is expected to see
the Travel and Tourism representative board broadening its scope and grow
the tourism industry. The ZCT was formed in 1988, with the objective of
championing interests of tourism players through the creation of an
environment in which it is possible for operators to maintain and grow their
businesses for the benefit of the economy. In a statement to the media after
commemorating 30 years of existence, TBCZ president Mr Tich Hwingwiri said
the change and re-branding was key as the organisation seeks to refocus and
gear for challenges of the next 30 years.  <http://www.bulls.co.zw/> Read
more >

Anti-corruption body to probe commercial fraud   

The Zimbabwe Anti-Corruption  Commission (ZACC) yesterday announced plans to
investigate commercial  crimes such as cash hoarding by corporates as it is
now capacitated to conduct investigations countrywide.  Previously, ZACC was
only conducting investigations in the capital and could not open offices
outside Harare or recruit staff, owing to lack of  financial resources. ZACC
commissioner in charge of investigations Goodson Nguni told  journalists
that the new Government had shown commitment to weed out  corruption. "We
are in the process of setting up a special team to investigate  commercial
fraud. The team is going to look at major issues where people  have been
sabotaging the economy, for example there are many companies  that are not
paying income tax, it is fraud under the Income Tax Act.
<http://www.bulls.co.zw/> Read more >

Water woes stall Steel Makers' re-opening   

The prevailing water crisis in Masvingo City has stalled the re-opening of
Steel Makers Company, popularly known as Simbi Pvt Ltd. Masvingo City has
been battling serious water shortage following the breakdown of two pumps at
the local authority's main station at Bushmead. The pumps have been taken to
Harare for repairs and residents have been getting water through bowsers,
two weeks on. The re-opening of the company is set to earn the country about
$1 million in sponge steel exports per annum once operations are resumed.
<http://www.bulls.co.zw/> Read more > 

INVESTORS DIARY 2018

Company

Event

Venue

Date & Time

The Harare Agricultural Show

The Harare Agricultural Show

The Harare Agricultural Show

August 27- September 1

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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