Bulls n Bears Investors Notebook Issue 313: 20 August 2019

Tue Aug 20 04:11:07 CAT 2019

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Bulls n Bears Investors Notebook Issue 313: 20 August 2019

Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

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

Zimbabwe has a plan to end 20-year standoff with creditors

As Zimbabwe's economic crisis bites, one man tells the BBC how shortages are
crippling his business. Zimbabwe's government has said it's ready to settle
with global lenders, sell assets and make the difficult spending decisions
needed for financial recovery. But with opposition protests against plunging
living standards scheduled in cities nationwide, he's in a race against
time. In an exclusive interview with Bloomberg News on Thursday, Finance
Minister Mthuli Ncube dismissed rapidly accelerating inflation as "wage
compression" and warned the country will have to endure four more months of
economic pain. On Friday morning, police in the capital violently dispersed
demonstrators protesting over the hardship his austerity measures have
spawned.  <http://www.bulls.co.zw/> Read more >

Four more months of economic pain, warns Zimbabwe's Finance Minister

HARARE - Zimbabwe's government said it is ready to settle with global
lenders, sell assets and make the difficult spending decisions needed for
financial recovery. But with opposition protests against plunging living
standards scheduled in cities nationwide, it is in a race against time. In
an exclusive interview with Bloomberg News on Thursday, Finance Minister
Mthuli Ncube dismissed rapidly accelerating inflation as "wage compression"
and warned the country it will have to endure four more months of economic
pain. On Friday morning, police in the capital violently dispersed
demonstrators protesting over the hardship his austerity measures have
spawned.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

For more business & financial updates log onto <http://www.bulls.co.zw/>
www.bulls.co.zw

IMF warns Zimbabwe against upping state worker wages

Johannesburg/Harare - The IMF's resident representative in Zimbabwe warned
the government against boosting wages for state workers after the
introduction of a new currency pushed up inflation and reduced spending
power to a tenth of what it was as recently as February. In the six years to
2016 Zimbabwe boosted pay for its about 400,000 civil servants to a level
where their pay accounted for more than 90% of tax revenue compared with 40%
in 2010, Patrick Imam, the IMF's representative, said. "The government wage
bill is now on a sustainable footing," he said in response to questions.
"Looking ahead, it is crucial that public wage growth be aligned with
economic growth and government revenue."  <http://www.bulls.co.zw/> Read
more >

Load shedding: 25% of Zim's import bill is for diesel in bid to keep the
lights on

Zimbabwe's worsening electricity shortages have effectively turned night
into day for many businesses and families, with most work happening after
dark, when lights flicker on for a few hours. A least 25% of Zimbabwe's
import bill for the month of June was for diesel, latest figures from
ZimStats have shown. This is higher than the 15% average for the last couple
of years.  <http://www.bulls.co.zw/> Read more >

Illegal Forex Dealers Lose Business To Bureaux de Changes - Report

Bureaux de Change are said to becoming popular among residents of Bulawayo
causing illegal foreign currency dealers to lose on business. A survey by
the Chronicle in the city on Monday revealed that some members of the
transacting public prefer bureaux de change as they are safer than
transacting on the black market. A Bulawayo resident, Nobukhosi Moyo who
spoke to the publication is quoted as saying that changing money at bureaux
de changes is more discreet and safer.   <http://www.bulls.co.zw/> Read more
>

 <mailto:info at bulls.co.zw> 

200% cost of living allowance for Tongaat employees   

THE country's sugar giant, Tongaat Hulett Zimbabwe (THZ), has awarded its
employees close to 200 percent cost of living adjustment allowance to
cushion them from the prevailing economic hardships. In an internal
correspondence seen by Business Chronicle, the company's acting chief
executive Mr Aiden Mhere said the workers had been awarded the cost of
living adjustment allowance with effect from August 1, 2019.
<http://www.bulls.co.zw/> Read more >

Zera assures tourism expo exhibitors   

THE Zimbabwe Energy Regulatory Authority (Zera) has assured exhibitors to
the 12th edition of the Sanganai/Hlanganani World Travel and Tourism expo of
adequate fuel supplies during the upcoming event next month. The world's
premier tourism fair will be held from September 12 to 14 at the Zimbabwe
International Exhibition Centre in Bulawayo. In an interview last week, Zera
acting chief executive officer Mr Eddington Mazambani said there will be
adequate fuel supplies during the upcoming Sanganai/Hlanganani World Tourism
expo next month.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Private companies urged to invest in agriculture   

THE Government is calling on private players to invest in agriculture as the
country continues to work tirelessly to reclaim its status as Africa's bread
basket, Deputy Minister of Lands, Agriculture, Water, Climate and Rural
Settlement, Vangelis Haritatos has said.  Addressing more than 65 delegates
attending the five-day workshop organised by West African Insurance
Companies' Association (WAICA) Reinsurance Company, the Deputy Minister said
there is abundant opportunities in the agricultural sector which need to be
taped. The business delegation came from countries such as Nigeria, Kenya,
Cameroon, Sierra Leone, Ghana, Mozambique, Tanzania, Mauritius, Zambia,
Burkina Faso, Rwanda, Cote d'Ivoire among other countries.
<http://www.bulls.co.zw/> Read more >

Zim Agric Show roars to life   

The Zimbabwe Agricultural Show roared to life yesterday, with 518 exhibitors
participating in this year's event. The show is running under the theme:
"Technology, Innovation, Modernisation; Adopt, Accentuate, Accelerate." The
event will be officially opened on Friday by a guest of honour who will be
announced in due course. As has become the norm on the first day, business
was low with few people visiting the exhibition park. For the past few
years, the first days have become family days as many parents prefer taking
their children to the show when there is no congestion.
<http://www.bulls.co.zw/> Read more >

Tobacco deliveries to break record   

Tobacco deliveries are set to surpass last season's record-breaking delivery
of 252 million kilogrammes as deliveries continue at the auction and
contract floors. A record 252 million kilogramme was delivered to the market
during the 2018 marketing season. In an interview at the Zimbabwe
Agricultural Show yesterday, Tobacco Industry and Marketing board
communications manager Mr Isheunesu Moyo said deliveries have continued and
indications are that they could surpass last year's volumes.
<http://www.bulls.co.zw/> Read more >

Zim targets Japan for investment   

Zimbabwe is targeting the forthcoming Seventh Tokyo International Conference
on African Development (TICAD) as part of the "open for business" drive to
attract foreign direct investment (FDI) needed to develop all sectors of the
economy. The three-day TICAD Summit, slated for August 28 in Yokohama, has
become a major global platform through which Asian and African nations, as
well as international stakeholders, can collaborate to promote Africa's
development.  <http://www.bulls.co.zw/> Read more >

New Zesa system punishes excessive usage   

The Zimbabwe Electricity Transmission and Distribution Company (ZETDC) has
effected a new tariff system to encourage domestic consumers to make optimal
use of electricity within a calendar month. The system is designed to
encourage conservation of power by ensuring heavy domestic power users pay
more. ZESA public relations manager Mr Fullard Gwasira said the move was in
line with recently approved electricity tariffs.  <http://www.bulls.co.zw/>
Read more >

'Lack of maintenance a threat to dams'   

Zimbabwe has several dams with potential of causing serious risk to the
viability of multi-million dollar agriculture projects and the public due to
lack of maintenance over the past decade, according to a report by African
Development Bank. There are about 8 000 dams in Zimbabwe - 850 of which have
been constructed by the Government, while the majority are privately owned.
<http://www.bulls.co.zw/> Read more >

Industry calls for Local Content Strategy action plan   

INDUSTRIALISTS and economic stakeholders have called for an action plan to
the recently introduced Local Content Strategy (LCS) in an effort to move
away from the chronic theorisation of critical recommendations and policy
without implementation by Government and private sector alike. This was
revealed at the Buy Zimbabwe breakfast meeting held at the ongoing Zimbabwe
Agricultural Show which was aimed at identifying low hanging fruits that
local industry can take advantage of.  <http://www.bulls.co.zw/> Read more >

INVESTORS DIARY 2019

Company

Event

Venue

Date & Time

REST OF AFRICA

Counters Trading Under Cautionary

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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