Bulls n Bears Investors Notebook Issue 178: 25 January 2019

Fri Jan 25 09:27:34 CAT 2019

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Bulls n Bears Investors Notebook Issue 178: 25 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

Unki FY production up 15%

ANGLO American Platinum's local unit, Unki Platinum, reported a 15%
production increase to 85 900 ounces in the full year to December 2018 up
from 74 600 ounces recorded in prior year driven by an improvement in
operational efficiencies. Quarter on quarter production was down 2% to 22
000 ounces from the 22 400 ounces recorded in the third quarter.
<http://www.bulls.co.zw/> Read more >

Malema appeals to Sadc for Zim bailout

LEADER of South Africa's far-left party Economic Freedom Fighters (EFF),
Julius Malema, has called on the Southern African Development Community
(Sadc) to come to Zimbabwe's rescue with a conditional financial bailout
package. Zimbabwe is in the throes of an economic meltdown, which culminated
in nationwide protests a week ago, and turned violent as State security
agents clamped down on demonstrators. "We (Sadc) are becoming a laughing
stock all over the world because one of our own is swimming in a pool of
debt and we are unable to provide them a conditional grant which must not
end up in the hands of Zanu PF politicians," Malema said.
<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

Foreign drug manufacturers cut off supplies to Zim

THE pharmaceutical sector in Zimbabwe owes foreign suppliers more than $39
million for imported raw materials as well as finished products, resulting
in supplies to the southern African country being cut off, an industry
official has said. Zimbabwe imports between 70% and 80% of its
pharmaceutical requirements. Pharmaceutical Society of Zimbabwe president
Portifa Mwendera told NewsDay that the situation in the sector had
deteriorated, with medicine shortages on the market being more pronounced.
<http://www.bulls.co.zw/> Read more >

ZCDC pursues diamond find in Chihota

STATE-RUN diamond firm, Zimbabwe Consolidated Diamond Company (ZCDC), says
it will carry out exploration work for gems in Marondera district as part of
its expansion scheme. With alluvial diamonds fast running out in the Marange
area, the company has been spreading out, with exploration work planned for
Chimanimani, Kezi, Binga and Mwenezi. Early this month, State media reported
that the company would invest $32 million in exploration projects to support
a resource definition and expansion programme with output forecast to reach
an ambitious 4,1 million carats by year end from 1,7 million carats produced
in 2018.  <http://www.bulls.co.zw/> Read more >

ZSE engages Hwange

THE Zimbabwe Stock Exchange (ZSE) says it will engage suspended Hwange
Colliery Company Limited (HCCL) in an effort to set a new course for the
troubled miner. HCCL was suspended from the ZSE last November after it was
placed under reconstruction by the government in terms of section 4 of the
Reconstruction of State Indebted Insolvent Companies Act, although
shareholders are contesting the legality of the move, given that the company
is listed. The coal miner is also listed on the London and Johannesburg
stock exchanges.  <http://www.bulls.co.zw/> Read more >

Redan given 72 hours to restore fuel coupons value

The decision by Redan Petroleum to debase fuel coupons following President
Emmerson Mnangagwa's decision to hike fuel prices a fortnight ago has drawn
fire, with lawyers demanding that the fuel distributor reverses the decision
within 72 hours. Alex Majachani of Alex F & Associates has written to Redan
representing a class action for people aggrieved by the debasing of fuel,
threatening legal action if the quantities of fuel reflected on the coupons
were not restored within seven days.  <http://www.bulls.co.zw/> Read more >

Retailers appeal for distress fund   

Retailers have called on Government to establish a distress fund that will
help re-capacitate and restock businesses that fell victim to the looting
and vandalism that took place during last week's violent protests.
Confederation of Zimbabwe Retailers (CZR) President Denford Mutashu, said
following the looting and destruction of property, his organisation among
others is now dealing with the aftermath to try and see how those who were
affected can receive assistance.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Govt has identified doing business constraints: CZI   

Confederation of Zimbabwe Industries (CZI) says local firms continue to be
negatively impacted by various impediments to doing business and Government
is working on them. CZI president Sifelani Jabangwe in an interview this
week said while Government had identified the impediments to doing business
through its rapid results initiative, less than a quarter of the resolutions
made had been implemented. This comes as the industrial sector, after
receiving more $1 billion in foreign currency support from Government, only
generated exports amounting to a mere $222 million and attributed the poor
performance to uncompetitiveness of local products in exports markets.
<http://www.bulls.co.zw/> Read more >

ED's fuel sector interventions pay off   

Normalcy has returned to Zimbabwe's fuel sector as queues have dissipated
while the black market has all but vanished, The Herald has established. A
survey by The Herald yesterday showed that, after a number of troubled
weeks, fuel was now readily available at most service stations, something
that has been attributed to President Mnangagwa's interventions that ensured
better supplies and stopped wastefulness. And the country could now notch up
the much-needed savings on foreign currency on the back of less demand, as
fuel contributed to about half of the money for imports.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Forex Trading Association Of Zimbabwe To Be Launched This Weekend

Alternative sources of income seem to be all the rage in our struggling
economy. I say this because when we interviewed an online forex trader last
year there was a lot of interest around the topic of online forex trading
but unfortunately, it's a topic we were learning at the same time as our
readers. Later on, we stumbled upon a Udemy Forex course that was curated by
a Zimbabwean and we felt that would be helpful to people starting out from
the Zim context.  <http://www.bulls.co.zw/> Read more >

'Mthuli Ncube's 2% electronic transaction tax illegal'

LEGAL think-tank Veritas still maintains that the 2% electronic transaction
tax, which was introduced last year by Finance minister Mthuli Ncube, is
still illegal and that attempts to amend the Finance and the Income Tax Acts
to correct the anomaly amounted to unlawful seizure of property. In their
recent Bill Watch online publication, Veritas said an Act of Parliament
cannot retrospectively validate the illegality made by the Finance minister
when he introduced the tax. The 2% electronic transaction tax was introduced
by Ncube as part of a raft of measures to shore up the country's dwindling
revenue base, with reports from the Zimbabwe Revenue Authority showing that
the tax boosted up their collections from October to December, where they
surpassed their revenue targets.  <http://www.bulls.co.zw/> Read more >

Fuel sector normalises

NORMALCY has returned to Zimbabwe's fuel sector as queues have dissipated
while the rampant black market has all but vanished. A survey by our Harare
Bureau yesterday showed that, after a number of troubled weeks, fuel was now
available at most service stations with motorists getting the commodity
without hassles, something that has been attributed to the Government's
interventions that stopped wasteful use. And the country could now notch up
the much needed savings on foreign currency on the back of less demand, as
fuel contributed to about half of the money for imports.
<http://www.bulls.co.zw/> Read more >

AfDB approves investment for Sub-Sahara Africa   

THE African Development Bank Group (AfDB) has approved an equity investment
of up to $25 million in ARCH Africa Renewable Power Fund (ARPF) for
renewable energy projects across Sub-Saharan Africa. ARPF will provide
equity for the development and construction of 10 to 15 greenfield renewable
energy projects in Sub-Saharan Africa, adding an estimated 533 megawatts of
installed energy generation capacity from renewable sources in the region.
This will provide both base load and peak load power in underserved markets.
<http://www.bulls.co.zw/> Read more >

Choppies takes stock of losses.$2,5m stock lost, $6,5 assets & equipment
destroyed in 9 shops   

CHOPPIES Enterprises lost stock valued at $2,5 million while equipment and
assets worth $6,5 million were destroyed after nine of its branches were
attacked by violent demonstrators and looters last week. In a statement
yesterday, Choppies chief executive officer Mr Ramachandran Ottapathu said
four of the nine shops were burnt down by the looters. "Choppies would like
to advise the nation of Zimbabwe, its suppliers, stakeholders, and business
clients that the retail chain was a victim of the recent demonstrations that
rocked the country during the stay away that was witnessed two weeks ago.
<http://www.bulls.co.zw/> Read more >

Zimbabwe begins to settle IATA debt

The government has started servicing the International Air Transport
Association (IATA) debt owed to regional and international airlines, with
the board of airline representatives confirming the first payment received
in January. An agreement reached between the central bank, the board of
airline representatives and tourism industry officials in October last year
culminated into a payment plan to service the US$150 million owed to
regional and international airlines at monthly instalments of US$4 million.
<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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