Bulls n Bears Investors Notebook Issue 170: 07 January 2019

Mon Jan 7 10:16:53 CAT 2019

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Bulls n Bears Investors Notebook Issue 170: 07 January 2019

 <mailto:info at bulls.co.zw> 

Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

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

2pc transaction tax funding development   

Finance and Economic Development Minister Professor Mthuli Ncube says the 2
percent intermediated money transfer tax has started bearing fruit, with the
money collected so far set to go towards recruitment of primary and second
school teachers and a host of other developmental projects. Between December
1 and 26 last year alone, Government collected $572,40 million through the 2
percent tax, exceeding the monthly target by $129,1 million.
<http://www.bulls.co.zw/> Read more >

Fidelity surpass gold deliveries target   

Gold deliveries to Fidelity Printers and Refiners (FPR) for 2018 hit a
record 33, 2 tonnes up from 24, 8 tonnes the previous year as Government led
stakeholder efforts to upscale production begin to bear fruit. Of note is
the continued strong performance by small scale miners whose haul for the
year jumped to 21, 7 tonnes, while primary producers accounted for the
remaining 11, 5 tonnes.  <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

ZPC beats quarterly power supply by 19 pc   

The successful completion of Kariba South Power Station extension in April
last year, has enhanced security of internal power supply in Zimbabwe with
State power utility Zimbabwe Power Company (ZPC), surpassing its energy
delivery target for the third quarter of 2018. This represents stark
contrast to the extended period of time when Zimbabwe experienced rolling
power cuts due to load shading or expended an average of US$50 million
monthly on imports to bridge the demand-supply gap.
<http://www.bulls.co.zw/> Read more >

'Government policies should promote use of local goods'   

Government should promote policies that stimulate individual and corporate
consumption of locally produced goods and services, Buy Zimbabwe chairman Dr
Anxious Masuka has said. This development comes on the back of Zimbabwe's
ever ballooning import bill leading to the country's perennial trade deficit
over the years. Addressing delegates at the belated year-end Buy Zimbabwe
awards, Dr Masuka indicated that the current administration
<http://www.bulls.co.zw/> Read more >

Welcome back to Zim's Capital Market   

Compliments of the new season! While 2018 was yet another memorable
investment period with the launch of the new indices and C-Trade amongst
other initiatives, 2019 is promising to be even more exciting. As we welcome
the new year, remember that setting financial goals for the year is
certainly one of the most inevitable steps when dealing with personal
finances. In order to achieve those goals, saving and investment play a
pivotal role.  <http://www.bulls.co.zw/> Read more >

Business slams Ncube's forex committee

BUSINESS leaders say the setting up of a forex allocation committee by
government will not solve the prevailing foreign currency crisis. Finance
minister Mthuli Ncube last Friday set up a forex allocation committee
comprising four members from the central bank, two drawn from the Finance
ministry and one each drawn from Industry and Commerce, as well as Energy
and Power Development ministries. Government is under pressure to provide
foreign currency for the procurement of drugs, fuel, wheat and critical raw
materials for the industry, a situation that has seen some companies pricing
their products in United States dollars.  <http://www.bulls.co.zw/> Read
more >

Money transfer service sings the blues

ZIMPOST'S money transfer service, Zipcash, is struggling to break even due
to cash shortages and failure by the South African corridor to perform up to
standard, acting managing director Sifundo Moyo has said. "Zimpost's money
transfer service, Zipcash, has not experienced growth to the levels that had
been anticipated, mainly because the South African corridor has not been
performing well," Moyo said in emailed responses to NewsDay.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Address poor governance: Zimcodd

POOR governance and financial malpractices in the country, if not addressed,
will exacerbate public mistrust and compromise tax compliance, the Zimbabwe
Coalition on Debt and Development (Zimcodd) has warned. In its analysis of
the 2017 Auditor-General (AG)'s report findings, Zimcodd said government's
failure to enforce good corporate governance in public institutions could
breed serious consequences in the near future.  <http://www.bulls.co.zw/>
Read more >

RioZim challenges mine seizure by ZDF

RIOZIM Limited has petitioned the High Court seeking a contempt of court
order against the Zimbabwe Defence Forces (ZDF)-owned mining entity,
Rusununguko Nkululeko, after the latter allegedly defied a court order and
continued carrying out mining activities on the international conglomerate's
chrome ore claims in Darwendale. In its application, RioZim cited
Rusununguko Nkululeko, Falcon Resources, a Pakistan national Mohammed Tariq
Aziz and his Dutch counterpart Aneeqa Zubair, as respondents.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Chirumanzu farmers embrace drought-resistant crops

VILLAGERS in drought-prone Chirumanzu district, Midlands province, have
switched to drought-resistant crops to shield themselves against hunger as
rains have become erratic. Villagers told NewsDay on Friday that they had
now ditched maize crop upon realisation that erratic rains were affecting
their yields. According to farming experts, Zimbabwe is among countries in
southern Africa that need to embrace small grains to avert the impact of
climate change-related disasters.  <http://www.bulls.co.zw/> Read more >

'Industry poised for growth in 2019'   

INDUSTRY and Commerce Minister Nqobizitha Ndlovu says the manufacturing
sector is poised for positive growth this year, riding on expanded capacity
and new investments made in 2018. As such, he said Government would continue
to support the productive sector by creating a favourable business
environment to consolidate domestic and foreign investment.
<http://www.bulls.co.zw/> Read more >

Forex poser as black market pales. Govt to meet industry over the matter

The tightening of laws to curb illegal foreign currency trading in the
country has reportedly left many companies, particularly those outside the
Reserve Bank of Zimbabwe foreign currency allocation priority list, on the
brink, according to the Confederation of Zimbabwe Industries. The dire
situation has now jolted Government into action amid indications that it
will meet industrialists next week to find a lasting solution to the
challenge.  <http://www.bulls.co.zw/> Read more >

Zamco to dispose of bad loans

The Zimbabwe Asset Management Company (Zamco) is hoping to conclude five
deals with investors seeking to take over bad debts that the State-owned
asset firm took over from banks to help restore viability in the financial
sector since 2015, an official said. Zamco, a special purpose vehicle
created by the Reserve Bank of Zimbabwe acquired non-performing loans from
companies that had potential to start generating healthy cash flows and
showed capacity for profitability once their corrosive NPLs were acquired.
<http://www.bulls.co.zw/> Read more >

Coal suppliers demand cash upfront

Major coal suppliers to Zimbabwe Power Company (ZPC), the generation arm of
State power utility Zesa Holdings, are demanding prepayments to guarantee
security of coal supply, according to minutes of a board meeting seen by
Business Weekly. Such arrangement may disrupt power generation at thermal
power stations if ZPC fails to get enough energy coal from the two major
suppliers in instances where it does not have cash for the prepayments or if
it experiences cash-flow hiccups.  <http://www.bulls.co.zw/> Read more >

Govt Releases $2,5 Million For Wheat Following Threats By Supplier To Cut
Off Deal

Government made a $2,5 million payment after Holbud threatened to cut off
the deal citing Harare's delay in meeting its financial obligations. Holbud
delivered 30 000 metric tonnes of wheat worth $12,2 million. The UK based
supplier last week raised concern over Zimbabwe's delay in paying for the
wheat that docked in Beira nine days ago. Full electronic payment of the
bulk consignment was expected on arrival and the wheat has been attracting
$17 000 storage charges daily.  <http://www.bulls.co.zw/> Read more >

Govt Lose $3,5 Billion To Company Directors Who Shut Down Companies, Then
Re-open Under Different Names

The government has reportedly lost over $3,5 billion because of company
directors who shut down their firms in order to avoid payment of taxes only
to re-establish themselves under different trading names. This was revealed
by the Minister of Finance and Economic Development Mthuli Ncube. Ncube
urged the Parliament to support the insertion of a clause to the law that
holds devious directors of companies that are wound up or declared insolvent
liable in their personal capacities. Said Ncube:  <http://www.bulls.co.zw/>
Read more >

INVESTORS DIARY 2019

Company

Event

Venue

Date & Time

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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