Bulls n Bears Investors Notebook Issue 230: 12 April 2019

Fri Apr 12 10:38:59 CAT 2019

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Bulls n Bears Investors Notebook Issue 230: 12 April 2019

 <mailto:zitfmktg at zitf.co.zw> 

Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

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

Zimbabwe reaches agreement with IMF on economic reform programme

(Reuters) - Zimbabwe has reached agreement with the International Monetary
Fund (IMF) on a programme of economic policies and structural reforms that
could pave the way to the crisis-hit country re-engaging with international
financial institutions. Suffering from decades of decline and
hyperinflation, Zimbabwe has not been able to borrow from international
lenders since 1999, when it started defaulting on its debt. It has arrears
of around $2.2 billion with the World Bank, the African Development Bank and
European Investment Bank.  <http://www.bulls.co.zw/> Read more >

Zimbabwe GDP growth below target at 4 percent in 2018-Treasury

(Reuters) - Zimbabwe's economy grew by 4 percent last year, below an initial
target of 4.5 percent, treasury said on Thursday, as the country struggles
with a severe shortage of dollars and surging inflation. Treasury said in
its fourth quarter report ending December that the government's foreign and
domestic debt stood at $17.8 billion, with 46 percent of that amount owed to
foreign lenders.  <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

Cement shortage chokes construction industry

ZIMBABWE'S construction industry contracted by 6,3% percentage points last
year due to acute cement shortages and unsustainable prices of construction
materials, a Treasury report has shown. According to the 2018 fourth quarter
Treasury report, the 2018 construction industry is estimated at 7,7%, a
downward revision from the initial growth projection of 14%.
<http://www.bulls.co.zw/> Read more >

IMF to monitor Zim economic targets, policies

International Monetary Fund (IMF) staff and Zimbabwe have agreed on steps
that will pave way for a Staff Monitored Programme (SMP). An SMP involves
the IMF staff monitoring a country's economic targets and policies. Zimbabwe
has had several successful SMPs between 2013 and 2015. The successful
completion of an SMP is seen as a critical step before the country can
proceed to re-engage international financial institutions.
<http://www.bulls.co.zw/> Read more >

Govt to address pricing madness   

GOVERNMENT is working on mechanisms for the National Competitiveness
Commission (NCC) to work with industry on a framework for pricing of goods,
standards and service delivery. This was said by Industry and Commerce
Deputy Minister Raj Modi in his key-note address during the 4th retailers
and wholesalers' Indaba 2019 in Harare yesterday, organised by the
Confederation of Zimbabwe Retailers (CZR). Deputy Minister Modi's remarks
come at a time prices of goods and services have risen by between 25 percent
and 75 percent in recent months, eating into the pockets of consumers.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Tobacco sales gross $14 million   

At least 8,1 million kilograms of  tobacco worth about $14 million have been
sold so far at auction and  contract floors in the country since the
marketing season opened last  month, statistics from the industry regulator
show.  Previously a preserve for white commercial farmers, tobacco farming
is  fast becoming an attractive source of livelihood for many Zimbabwean
small scale and communal farmers.  <http://www.bulls.co.zw/> Read more >

Jet Kadoma re-opens   

Hundreds of excited customers yesterday besieged Jet Kadoma Stores which
re-opened its doors four months after an inferno razed shops in the city.
There was stampede in the early hours of the day as people thronged the shop
to buy as well as window shop various clothing items that were on discount.
Authorities battled with the huge crowd and temporarily shut the doors with
customers taking turns to enter.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Bakers increase price of bread   

THE price of bread has gone up to RTGS$2,30 from RTGS$2 with millers saying
the increase is not associated with the cost of flour as the price of the
product has remained constant. Yesterday, bread, which has been in short
supply in the country over the past few weeks, was being sold for RTGS $2,30
per loaf at most outlets in Bulawayo's Central Business District. It was
going for as much as RTGS$2,50 in high density suburbs. However, some
supermarkets that bake bread as well as small bakeries are selling it at
between $1,60 and $2 per loaf.  <http://www.bulls.co.zw/> Read more >

New mall opens.Investor interest grows in Gwanda CBD   

A NEW shopping mall that will house 24 shops has been officially opened in
Gwanda's Central Business District, indicating growing investor interest in
the mining town. Meek Shopping Mall trading as Kaweni Enterprises was built
by a Gwanda small scale miner, Mr Philisani Ncube (29). Matabeleland South
Minister of State for Provincial Affairs Abednico Ncube officially
commissioned the mall on Tuesday and urged locals to invest more in the
town.  <http://www.bulls.co.zw/> Read more >

Mealie meal price set to go up   

THE Grain Millers' Association of Zimbabwe (GMAZ) says the country should
brace for an increase in the price of mealie meal in the next few days in
line with the new producer prices. In an interview after a closed door
meeting with the GMAZ southern region membership in Bulawayo yesterday, GMAZ
chairman Mr Tafadzwa Musarara said the imminent mealie meal price review was
necessitated by the producer price changes announced by Government this
week. Government increased the producer price of maize from $390 a tonne to
$721 while wheat has been increased from $630 to $1 000.
<http://www.bulls.co.zw/> Read more >

'Pension, insurance firms have nowhere to hide'   

Some insurance and pension companies that have invested members' funds in
assets such as property and on the Zimbabwe Stock Exchange (ZSE), have no
moral high ground to claim that the funds have lost value, the Reserve Bank
of Zimbabwe (RBZ) has said. The RBZ has waded into the contentious issue
following remarks by some pension funds and insurers that pronouncements in
the 2019 Monetary Policy Statement, especially the floating of the foreign
currency trade, has dire consequences on their operations.
<http://www.bulls.co.zw/> Read more >

Invictus receives final data for Muzarabani oil prospect   

Newly defined data released this week by Invictus Energy, has provided
management with increased confidence regarding a sizeable increase in the
prospective resource estimate of the Muzarabani oil prospect that currently
stands at 3,9 Tcf (trillion cubic feet) and 181 million barrels of
condensate. The seismic data, which is now final, was described by managing
director Scott Macmillan as exciting and encouraging.
<http://www.bulls.co.zw/> Read more >

RBZ warns over wild interest rates   

The Reserve Bank of Zimbabwe (RBZ) has warned domestic banks against
arbitrary hikes of lending rates and called for a fine balancing act in
dealing with cost and inflationary pressures to avoid tipping over an
already volatile pricing situation in the economy. The RBZ has also warned
over carefree rate hikes by domestic banks as this could spark a recurrence
of non-performing loans (NPLs), which saw US$1,2 billion being lifted off
banks by an RBZ special purpose vehicle The Zimbabwe Asset Management
Corporation (Private) Limited (ZAMCO), as the NPLs nearly paralysed fresh
credit five years ago.  <http://www.bulls.co.zw/> Read more >

CZI lobbies for import restrictions return   

Industrial lobby group, Confederation of Zimbabwe Industries (CZI), says the
Government needs to quickly revert to the policy of restricting entry of low
priced imported products into Zimbabwe to quicken the pace of rebuilding the
manufacturing sector through organic growth. This comes after Government
late last year suspended a piece of legislation that restricted the
importation of basic commodities, which was meant to give local firms the
space to grow production and retool. CZI said controls imposed in 2016 saw
local industry post huge strides in growing production.
<http://www.bulls.co.zw/> Read more >

INVESTORS DIARY 2019

Company

Event

Venue

Date & Time

Zimbabwe 

Independence Day

Zimbabwe

18 Apr 2019 

Good Friday

19 Apr 2019

Easter Saturday

20 Apr 2019

Easter Sunday

21 Apr 2019

Easter Monday

22 Apr 2019

Workers Day

01 May  2019

REST OF AFRICA

Counters Trading Under Cautionary

Border Timbers

Econet Wireless Zimbawe

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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