Bulls n Bears Investors Notebook Issue 177: 24 January 2019

Thu Jan 24 09:18:10 CAT 2019

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Bulls n Bears Investors Notebook Issue 177: 24 January 2019

 <http://www.fbc.co.zw/> 

Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

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

Zimbabwe vows bold economic turnaround despite surging prices

DAVOS, Switzerland (Reuters) - Zimbabwe's finance minister painted an
optimistic outlook for his country on Tuesday. Mthuli Ncube told Reuters
that in the next year he hoped to bring inflation under 10 percent from 42
percent now, find the money to cover debt payments of $1.2 billion, and
introduce a new currency. He also talked up a privatisation programme that
has so far seen little real progress. "Zimbabwe is the best buy in Africa
right now," he said in an interview at the World Economic Forum in Davos.
<http://www.bulls.co.zw/> Read more >

Rwandair No Longer Accepting Bond Notes, Electronic Payments

Rwandair has joined the bandwagon of airlines that have rejected bond notes
and electronic payments. In a statement to trade partners, Rwandair revealed
that with effect from Thursday, January 24, it will stop accepting the
surrogate currency whose value continues to tumble on the parallel market.
Rwandair said: Rwanda Air would like to announce its decision to withdraw
ticketing authority effective 24 January 2019 from Zimbabwe BSP. We
apologise for any inconvenience this may cause. The statement would mean
that all ticket sales will be issued in United States dollars while only
internationally issued credit cards will be accepted.
<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

RBZ Dismisses Reports Bond Notes Will Be Discontinued On January 26

In a statement to ZBC News, the Reserve Bank of Zimbabwe (RBZ) dismissed
social media reports that bond notes will be discontinued on January 26. RBZ
governor John Mangudya said the article circulating on social media is
misleading and meant to cause panic and confusion. Said Mangudya: The
article is not only misleading but is designed to cause confusion, panic and
despondency within the economy. Members of the public should not be misled
by such counterproductive articles. In the past few days, there have been
reports circulating on social media suggesting that bond notes would be
phased out on January 26 and urging people to dispose the currency as soon
as possible. <http://www.bulls.co.zw/> Read more >

Edcon ups Edgars stake

EDGARS Stores Limited (EDL) shareholders have approved the acquisition of
trademarks to brands owned by the retailer's South African shareholder Edcon
in exchange for an increased stake in the company. The transaction will see
Edcon increase its shareholding in EDL from 38,07% to 41,07%, through its
100%-owned local outfit, Bellfield Limited. Edgars and Edcon agreed to
settle the purchase consideration of the franchise brands for $1,5 million
through the issuance of 15 000 000 EDL ordinary shares.
<http://www.bulls.co.zw/> Read more >

Forex shortages hit fertiliser firms

Zimbabwe has been hit hard by foreign currency shortages, affecting various
sectors of the economy, leaving some companies on the brink. The fertilizer
industry has not been spared by the shortages. NewsDay (ND) reporter Freeman
Makopa, recently caught up with chairperson of the Zimbabwe Fertiliser
Manufacturer's Association,Tapuwa Mashingaidze (TM) to discuss the state of
affairs in the industry. <http://www.bulls.co.zw/> Read more >

Zimra surpasses FY18 revenue target by 17,7%

Zimbabwe's net revenue collections for the full year to December amounted to
$5, 06 billion surpassing its target by about 18% as collections surged in
the last quarter due to the 2% tax on electronic transfers introduced in
October that year. In 2017, net collections amounted to $3,75 billion, ahead
of its target of $3,4 billion. Government increased the Intermediate Money
Transfer Tax to 2% per transfer in a bid to shore up state coffers in the
southern African nation which solely relies on taxes to fund operations.
<http://www.bulls.co.zw/> Read more >

Alrosa, Anjin to partner ZCDC   

Government has identified Alrosa Diamond Company and Anjin Investments as
the foreign firms that will participate in the country's diamond sector. The
Zimbabwe National Diamond Policy, which was approved by Cabinet on December
4 last year, says the Zimbabwe Consolidated Diamond Company (ZCDC), Murowa
Diamonds and two other companies, would be permitted to undertake diamond
exploration and mining. On Tuesday, Presidential spokesperson Mr George
Charamba said: " . . . the President has put the Zimbabwean interest at the
heart of exploitation of those diamonds only accepting foreign participation
by way of selecting companies from Russia (Alrosa) and China (Anjin)."
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Let's work together: Mthuli   

FINANCE and Economic Development Minister Professor Mthuli Ncube has
implored the nation to unite and work together to revive the economy.
Professor Ncube said this on Tuesday night in an interview with CNN's
Richard Quest. "We must work together. The President (Mnangagwa) has asked
for dialogue among everyone so that we can face this together," said Prof
Ncube. He was referring to the remarks by President Mnangagwa upon arrival
from the successful tour of Eurasia that dialogue was key for the country to
achieve its objectives. <http://www.bulls.co.zw/> Read more >

Mupfumira appoints tourism ambassador   

ENVIRONMENT, Tourism and Hospitality Industry Minister Prisca Mupfumira, has
appointed Touchroad International Holdings chairman Dr He Liehui as the
country's tourism ambassador to China. She made the appointment on Tuesday
at the launch of Tour Africa-New Horizon Project. Black Panther movie icon,
Danai Gurira, celebrated springbok rugby player Tendai "Beast" Mtawarira and
songstress Penelope Jane Powers (PJ Powers) have also been appointed tourism
ambassadors. Liehui appointment follows his exploits in advancing Zimbabwe
as a favourable tourism destination.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Strive for peace, unity: IMF   

The International Monetary Fund (IMF) has called on local political players
to observe peace at all times to ensure economic growth, which is primed to
surge by 3,1 percent, driven by a raft of positive measures announced by
Government recently. This was said last week by IMF director of
communications Gerry Rice during a press conference in response to a
question that sought to understand the global lender's perspectives on
Zimbabwe. The question arose after opposition supporters and civil society
activists went on a rampage and unleashed an orgy of violence that left some
people dead and others injured. <http://www.bulls.co.zw/> Read more >

Millers plead with Govt to suspend law   

The Grain Millers Association of Zimbabwe (GMAZ) is appealing to Government
to temporarily suspend shop licensing laws to allow more middlemen to
distribute stock from the millers. GMAZ chairman Tafadzwa Musarara said this
during a tour of grain milling companies in Bulawayo on Tuesday. His call
comes amid fears that some of the stock held by the local millers could
expire due to limited uptake by retailers following last week's illegal and
violent protests that saw many retailers in the high density suburbs emptied
by looters who also went on a spree vandalising the retail outlets and other
infrastructure worth millions of dollars.  <http://www.bulls.co.zw/> Read
more >

Govt avails US$1bn support to industry   

Government says it allocated a cumulative US$1 billion, through the Reserve
Bank of Zimbabwe (RBZ) towards supporting companies in the manufacturing
industry between January and December 2018, representing a 2 percent growth
on allocations made in 2017. Industry and Commerce Minister Mangaliso Ndlovu
told delegates at gathering in Harare for the launch of the Confederation of
Zimbabwe Industries (CZI) manufacturing survey report that this demonstrated
Government commitment to supporting industry. CZI's 2018 manufacturing
sector survey shows that average industrial capacity utilisation grew by 3,1
percent to an average of 48,2 percent between August 2017 and August 2018
with foreign currency and policy inconsistency cited among the major
drawbacks.  <http://www.bulls.co.zw/> Read more >

Removal of goods in bonded warehouse   

Did you know that in terms of section 70 of the Customs and Excise Act
(Chapter 23:02) any importer of goods may import dutiable goods into a
licensed bonded warehouse without paying duty on the goods.  What is a
bonded warehouse? This is a structure built to certain specifications,
approved by the Commissioner and licensed to be used as a bonded warehouse
in terms of section 68 of the Customs and Excise Act. It is where imported
goods that are subject to duty, are lodged, kept and secured without the
payment of duty or until the requirements of the Customs and Excise Act are
fulfilled. <http://www.bulls.co.zw/> Read more >

Chinese firm to build hotels

Chinese multinational group, Touch Road International Holdings, has revealed
plans to construct two hotels in Harare and Victoria Falls. The group has
partnered with the Zimbabwe Tourism Authority to grow Chinese tourist
arrivals in the country as the tourism regulator is making strides to double
arrivals this year going forward. As part of the deal, Touch Road has
already guaranteed that the country will receive at least 350 tourists and
investors monthly. Touch Road International Holdings Group Chairman Dr He
Liehui, who was also appointed Zimbabwe's tourism ambassador to China, said
while his organisation's efforts are centred on increasing the number of
Chinese tourists to visit Zimbabwe, the group is also focused on building
hotels in the country.  <http://www.bulls.co.zw/> Read more >

Ramaphosa campaigns for Zimbabwe's sanctions removal   

SOUTH African President Cyril Ramaphosa has taken the campaign against
illegal sanctions imposed on Zimbabwe to the 49th edition of the World
Economic Forum (WEF) in Davos, Switzerland. WEF brings together governments,
corporates, donors, the academia, labour and other high level players who
control the global socio-economic levers.  <http://www.bulls.co.zw/> Read
more >

Govt readies for new currency   

Government has made progress in terms of achieving conditions that need to
be fulfilled on the macro-economic front before the reintroduction of local
currency, according to Finance and Economic Development Minister Professor
Mthuli 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.

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