Bulls n Bears Investors Notebook Issue 166:10 September 2018

Mon Sep 10 07:43:36 CAT 2018

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Bulls n Bears Investors Notebook Issue 166:10 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

Zim pins hope on China for forex

Zimbabwe is pinning hopes on Chinese banks to extending significant lines of
credit to ease a serious shortage of foreign currency following a sharp rise
in demand by businesses resulting from improved economic activity, a senior
central bank official said. Reserve Bank of Zimbabwe governor John Mangudya,
said this week Zimbabwe had put in place measures to ensure procurement of
adequate essential imports, adding there was no need to panic over possible
shortages of key commodities. Even though the country was facing growing
demand of foreign currency, the RBZ chief assured the nation that “plans and
contingency plans” have been put in place to optimally meet the country’s
needs.  <http://www.bulls.co.zw/> Read more »

Zimbabwean: Investors want proof

JOHANESBURG — There are plenty of new and dormant coal projects in Zimbabwe,
which can help improve the economy, says senior coal analyst Xavier Prévost.
Zimbabwe has abundant coal resources of a high quality, as some contain
coking coal, which is usually available and also the most expensive kind of
coal available, he points out. Coking coal is used to create coke, one of
the key input components for the production of steel, which is the key
element of blast furnace operations. Prévost, however, believes that
investors are still waiting for the final outcome of the country’s elections
to be sure that their investments will be secure.  <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

New Finance Minister Aiming To Implement Currency Reforms By Year End, Could
Remove Bond Notes

New Minister of Finance and Economic Development Professor Mthuli Ncube has
said that he will prioritise currency reforms as the current currency
approach is not working. Speaking to the Sunday Mail, Ncube said. I am very
clear that there have to be currency reforms and the (current) currency
approach is not working. In doing so, there are three choices that I will
explore and pursue with urgency: One, adopt the US dollar only and remove
the bond notes from circulation through a demonetisation process and also
liberalise exchange controls. Two, adopt the rand by negotiating to join the
Rand Monetary Area, and this will close the gap in loss of competitiveness
against our largest trading partner, South Africa. Three, adopt a new Zim
dollar, and here one needs to be clear that it has to be backed by adequate
foreign reserves and macroeconomic conditions for its stability. Foreign
currency accounts will also be introduced. For sure, currency reforms will
be implemented. I would like to implement this by year-end. .
<http://www.bulls.co.zw/2018/09/05/nmb-bank-net-profit-surges-broadens-targe
t-market/> Read more » »

Chiwenga Calls For Open Skies Policy In order To Boost Tourism

Vice President Constantino Chiwenga has called for a policy change to open
up the airspace, in order to allow competition and boost tourism. Officially
opening the Hlanganani/Sanganai World Tourism Expo in Bulawayo last
Thursday, Chiwenga said. On the domestic front we have opened up the
domestic airspace for other players and we have seen new airlines now
competing on our domestic routes. Therefore, the issue is not only to
attract competition but to make ourselves ready for that competition.
<http://www.bulls.co.zw/> Read more »

Zimbabwe needs urgent $4bn bailout as it faces economic meltdown

HARARE – Zimbabwe needs up to $4 billion to avert a looming currency crisis
that could unleash economic havoc, with the new Cabinet urged to take tough
decisions to increase confidence in the economy. President Emmerson
Mnangagwa on Friday appointed former banker Mthuli Ncube as Finance minister
and retained Winston Chitando in the key mining portfolio, tasking two
competent technocrats to steer the quest to revive the country’s stuttering
economy. This comes as government has been moving away from market-friendly
economic policies toward a more populist attitude that grants generous
government subsidies on everything from agriculture to social programmes.

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

Zimra embarks on tax administration reforms

THE Zimbabwe Revenue Authority (Zimra) says it is ready to contribute to a
“new dispensation” through tax administration reforms, which seek to
simplify tax rules and help taxpayers to meet regulatory requirements more
effectively and efficiently. Tax administration involves the implementation
and enforcement of tax laws and regulations. Zimra commissioner-general
Faith Mazani, who addressed the telecommunications industry at a breakfast
last week, said the reforms entailed a total overhaul of the process and
organisation of tax administration with a focus on improving Zimra systems
and processes; simplifying the tax code and propagating a new tax culture
based on partnership and voluntary compliance.  <http://www.bulls.co.zw/>
Read more »

Delta in accelerated sustainability spending

DELTA Corporation (Delta) says it has invested at least $2,9 million in
infrastructure-related corporate social investments under its integrated
sustainable development framework. Sustainability is part of a global social
justice and human rights agenda, which compels organisations of all kinds to
assess the impact of their activities and disclose their non-commercial
contributions to the economy and communities. The Zimbabwe Stock Exchange
(ZSE), where Delta trades its equity, has also made sustainability reporting
a requirement for companies listed on the bourse, in line with international
best practice, to enhance accountability and ensure they play their part in
achieving sustainable development goals.  <http://www.bulls.co.zw/> Read
more »

 <mailto:info at bulls.co.zw> 

Treasury boss gets whole nation talking

AT last, the long-awaited Cabinet is here. And it’s full of shocks and
surprises, with heavyweights falling by the wayside and lightweights making
it to the much leaner list of President Emmerson Mnangagwa’s government
programme implementers. Though it’s not so much of a shock given her
international exploits in sport and undoubted patriotism, Kirsty Coventry’s
appointment was probably the least expected. She will sit in Cabinet with
someone who has got the whole nation talking. And it’s none other than
Mthuli Ncube, a professor of economics and finance, who has chalked up
internationally-recognised successes in policy, strategy and
entrepreneurship. Ncube holds a PhD in Mathematical Finance from University
of Cambridge, Selwyn College, UK.   <http://www.bulls.co.zw/> Read more »

African Sun euphoric about conferencing, foreign visits

AFRICAN Sun Limited (ASL) has announced it will spend $2,1 million in the
last quarter of 2018 on refurbishments to improve standards of its hotels
and boost occupancy in the future. The hospitality group, which reported
higher-than-expected earnings in the first half of the year as elections and
investment interest lifted visits, expects conferencing and international
visits to drive the group’s performance in the outlook. A statement by ASL
chairman Alex Makamure in the company’s financial report for the half-year
ended June 30 2018 stated that the hotels group’s confirmed bookings for the
remainder of the year were already higher than the comparative period last
year.  <http://www.bulls.co.zw/> Read more »

 <mailto:info at bulls.co.zw> 

Zimparks to receive okapi, gorillas from DRC

THE Zimbabwe Parks and Wildlife Management Authority (Zimparks) is soon
expected to take delivery of okapi and gorilla breeds in a wildlife exchange
programme with the Democratic Republic of Congo (DRC) after President
Emmerson Mnangagwa’s government recently donated 10 white rhinos to DRC’s
national parks. Zimparks director-general Fulton Upenyu Mangwanya told
Southern Eye during a visit to Hwange National Park on Saturday that the
exchange programme would benefit both countries’ animal conservation
programmes.  <http://www.bulls.co.zw/> Read more »

Zim resumes diamond auction   

Zimbabwe resumed diamond auction last week, but attracted fewer
international buyers than expected, the Minerals and Marketing Corporation
of Zimbabwe said. The auction – the third to be conducted this year –
attracted 32 buyers mainly from Asia, the Middle East and Africa, MMCZ
acting general manager Masimba Chandavengerwa said. About 450 000 carats are
expected to go under the hammer during the auction expected to close this
week. This year, Zimbabwe conducted two diamond auctions in February and
April.  <http://www.bulls.co.zw/> Read more »

GetBucks Microfinance MD steps down

HARARE – GetBucks Microfinance Bank managing director Mercy Murevesi has
stepped down from her position as she pursues a regional posting a large
African Multinational financial institution. Murevesi stepped down with
effect from August 31, 2018 and will be replaced by Terence Mudangwe. “The
board of directors announces the resignation of Mercy Muchando-Murevesi from
the company and board of directors with effect from 31 August 2018. The
board thanks Mercy for leading the institution from its credit only
microfinance days to a commanding microfinance bank and wishes her well in
her endeavours.   <http://www.bulls.co.zw/> Read more »

IPC to implement Commission of Inquiry recommendations

HARARE – The Insurance and Pensions Commission says it is ready to spearhead
implementation of the recommendations made by the Commission of Inquiry into
the conversion of insurance and pension values from the Zimbabwean dollar to
the multicurrency regime once it gets the go- ahead from Government. The
Commission of Inquiry Report was gazetted in March this year with
recommendations among them that policyholders and pensioners who were
prejudiced should be compensated. In an interview on the sidelines of the
Midlands Agricultural Show in Gweru recently, IPEC acting Public Relations
Manager, Mr Lloyd Gumbo said the Commission awaited Government direction on
implementation of the Commission of Inquiry recommendations.
<http://www.bulls.co.zw/> Read more »

Govt supports Bio fortification of crops: Shiri

HARARE – Government is in support of production of high nutrition crops
(bio-fortified) crops particularly the high iron bean as this promotes food
and nutrition security and presents business and income generation
opportunities especially for women and youths. Bio fortification is the
process of breeding crops to increase their nutritional value. Lands,
Agriculture and Rural Resettlement Minister Perrance Shiri revealed this at
the launch of the Technologies for African Agricultural Transformation High
Iron bean (HIB) project tilted “Promoting High Iron Beans in Zimbabwe”.
<http://www.bulls.co.zw/> Read more »

To zero-rate, or not to zero-rate: why the VAT debate is more complex than
it appears

The one percentage point increase in South Africa’s Value Added Tax (VAT)
rate, which was implemented in April this year, has raised important
questions about how the tax system can and should address inequality. In
response to the increase, Nhlanhla Nene, the minister of finance, appointed
an expert panel to look into ways that zero rating can better tackle
inequality. The panel made recommendations about additional items which
should be zero rated. It’s important that the recommendations of the panel
be considered within the framework of a larger conversation about tax policy
in South Africa. This is particularly true because the tax system is key to
addressing the extremely high levels of inequality in South Africa.
<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.

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