Major International Business Headlines Brief::: 29 January 2019

Tue Jan 29 10:36:04 CAT 2019

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Major International Business Headlines Brief::: 29 January 2019

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*  Angola readying first trip to borrowing markets since IMF deal

*  South Africa's Absa CEO to retire at end of February

*  South Africa's rand steady; focus on Sino-U.S. trade talks

*  Kenyan bank KCB looks to M&A deals for growth -CEO

*  Zambia's mining investment arm ups stake in Copperbelt Energy

*  Kenyan shilling firm ahead of central bank policy meeting

*  South Africa's government keen to see South african Airways debt
restructured soon

*  Huawei denies wrongdoing after US criminal charges

*  Apple rushes to fix FaceTime 'eavesdropping' bug

*  Trade war: Firms look to new factories as tariffs bite

*  US shutdown cost $3bn, says Congressional Budget Office

*  Barclays boss was 'up at 2am' over bonus

 <mailto:info at bulls.co.zw> 

Angola readying first trip to borrowing markets since IMF deal

LONDON (Reuters) - Angola is readying a return to bond markets after
securing an IMF deal and hopes to kick-off a three-year privatisation
programme this year, Treasury Secretary Vera Daves told Reuters on Monday.

Angola, Africa’s second-largest oil producer, secured $3.7 billion of
International Monetary Fund aid in December having been pushed towards an
economic crisis by the fall in crude prices since mid-2014.

Its currency, the kwanza, dropped more than 40 percent last year making it
the second worst performing in the world after Argentina’s peso, while its
debts jumped and international reserves fell to a seven-year low of $11.1
billion in December.

Daves said the country had financing needs of around 3.5 trillion kwanza
($11.32 billion) this year compared to the nearly 5 trillion kwanza it spent
in 2018, and was hoping to tap international markets to secure some of the
money.

“We are ready because we have been through the procedure recently,” she told
Reuters in an interview. Angola sold a $1.75 billion 10-year bond at a yield
of 8.25 percent last year.

Asked how soon it could happen, she said it would depend on investor
appetite. “Probably next month we will have a better idea,” Daves said,
adding that “hopefully” it would be a 10-year bond. “We are always trying to
elongate our debt maturities.”

President João Lourenço, who took over in September 2017 after 38 years of
rule by José Eduardo dos Santos, has said he wants to revive Angola’s
fortunes by tackling corruption, opening it up to foreign investment and
diversifying away from oil, which accounts for more than 90 percent of
exports.

The IMF programme is aimed at bringing stability to the country and
fostering a return of economic growth, especially in the second half of the
year, when Daves expects an expansion of around 2.8 percent.

It could struggle to reach that if oil stays below the $68 a barrel the
Treasury had as its average forecast for the year.

It could also require more budget cuts by the government, although education
and healthcare spending as well as key infrastructure projects needed to be
protected, Daves said.

PRIVATISATION PLANS

Privatisation is also part of the country’s plans and the IMF’s. Banks, oil
and mining firms, telecoms and agriculture companies are all on what is
likely to be a “staggered” agenda over three years.

“Hopefully we will see the first ones this year,” Daves added. A bank will
“probably be first because they have history of reporting,” which makes the
privatisation process easier.

Angola’s depleted foreign exchange reserves remain a problem and can’t
afford to go much lower, Daves acknowledged.

The country scrapped the kwanza’s peg to the dollar at the start of last
year, but reserves have continued to fall as the central bank has gradually
worked through a backlog of what were effectively unpaid bills.

Daves estimated that around 1.2 trillion kwanza ($3.88 billion) was still
snarled up, although around 300 billion kwanza of that was still being
scrutinised.

She also expects the central bank to announce far-reaching changes to try
and prevent backlogs building up in the future.

“They (the central bank) want to change foreign exchange law and create a
buffer,” and make it easier to move money in and out of Angola, she said.

“I know they want to come in first semester and come with very clear
proposal on this,” she said, but did not have more details.

($1 = 309.2420 kwanza)

 <mailto:info at bulls.co.zw> 

South Africa's Absa CEO to retire at end of February

JOHANNESBURG (Reuters) - South African lender Absa said on Tuesday its chief
executive Maria Ramos, who has been at the helm for ten years, will retire
at the end of February, after the firm completed its separation from
Barclays PLC and relaunched its brand.

“With the separation on track and our new strategy as a standalone financial
institution in place, Maria feels that this is the right time to retire,”
Absa said.

René van Wyk will be appointed as interim chief executive with effect from
March until a permanent appointment is made, the firm said in a statement.

South Africa's rand steady; focus on Sino-U.S. trade talks

JOHANNESBURG (Reuters) - South Africa’s rand was largely unchanged on
Tuesday as traders looked for direction from the latest developments in a
trade dispute between the United States and China.

* At 0634 GMT, the rand was 0.09 percent stronger at 13.6525 per dollar,
little changed from Monday’s close in New York.

* The rand has struggled to hold recent gains below the 13.60 technical
resistance mark and is seen by traders drifting within a narrow range, with
a topside target of 13.78.

* Uncertainty over high-level U.S.-China trade talks, set for Wednesday and
Thursday, has dominated global market sentiment at the start of the week.

* The prospects for progress at the talks have been undermined by
Washington’s placement of criminal charges against China’s Huawei
Technologies.

* With no major economic releases due locally, market attention also turns
to the beginning of the U.S. central bank’s policy meeting on Tuesday.

* Bonds opened weaker, with the yield on the benchmark paper due in 2026 up
0.5 basis points to 8.770 percent.

Kenyan bank KCB looks to M&A deals for growth -CEO

NAIROBI (Reuters) - KCB Group, Kenya’s biggest bank by assets, is looking to
bolster growth by joining a wave of consolidation in the country’s banking
industry in the next few years, its chief executive said on Monday.

Kenyan banks are moving to consolidate in response to a 2016 cap on
commercial lending rates and tougher central bank regulations which followed
the collapse of three banks in 2015-2016.

“The next frontier for growth for us in the market will be inorganic growth
because ultimately it is about taking market share,” Joshua Oigara told
Reuters in an interview without giving details.

“The industry will continue to consolidate.”

The government, keen on strengthening the country’s banking sector, in
December welcomed merger talks between NIC bank and Commercial Bank of
Africa. In 2017, Diamond Trust Bank bought Habib Kenya.

Consolidation has been spurred partly by the government’s introduction of
the cap on commercial lending rates in 2016, designed to help small
businesses access money at affordable rates. But the cap has made banks more
cautious about lending to small enterprises because they say it is more
difficult to assess risk.

Oigara said bankers were still engaging with lawmakers on the future of the
rate cap, which has led to a steep drop in private sector credit growth as
banks cut credit to small borrowers deemed too risky.

“The best model has to be risk-based pricing on the customer’s profile, so
in the long run we have to remove the cap,” Oigara said.

Lawmakers blocked an attempt by Finance Minister Henry Rotich to repeal the
cap last year, arguing that banks could not be trusted not to charge
customers high rates.

KCB, which also operates in Uganda, Tanzania, Rwanda, Burundi and South
Sudan, expects regulatory approval to buy more than 25 billion shillings
($248.76 million) worth of assets from Imperial Bank, which collapsed in
2015. The price of the assets has not been disclosed.

This purchase will help KCB to strengthen its small and medium enterprises
banking business, since Imperial had many such customers, Oigara said.

Oigara, who joined KCB in 2013 after a stint as finance chief at Bamburi
Cement, said the group’s return on equity, a measure of profitability, was
set to climb towards 24 percent after dropping to 20 percent from 25-27
percent in the wake of the rate cap.

He said the recovery was mainly due to deals done via mobile lending
services like KCB M-Pesa, a partnership with Safaricom, which owns the
M-Pesa platform.

Kenya became a global pioneer of mobile phone financial services in 2007
when M-Pesa, a money transfer service was started by telecoms operator
Safaricom. The technology has evolved to allow users to borrow short-term
loans from local lenders at the touch of a few buttons on their mobiles.

The boom in mobile phone lending has also been driven by demand from small
traders locked out of normal bank loans by the rate cap, Oigara said.

“We expect our non-funded (fee) income to reach 40 percent (of total) by
2020. Today it is around 33 percent,” he said.

The bank lends out 300 million shillings daily on the KCB M-Pesa platform,
about half of the 600-700 million shillings lent out by all banks daily on
such platforms. Mobile phone loans are usually for 30 days.

“Those products are growing dramatically,” he said.

($1 = 100.5000 Kenyan shillings)

Zambia's mining investment arm ups stake in Copperbelt Energy

LUSAKA (Reuters) - Zambia’s state mining investment arm is increasing its
shareholding in Copperbelt Energy Corporation (CEC) by four percent, its CEO
said on Monday.

“We are increasing the shareholding in CEC by four percent and are also
looking to buy more shares,” Pius Kasolo, chief executive of ZCCM-IH said
during a media briefing.

Copperbelt Energy is the largest supplier of energy to Zambia’s mines.

Kenyan shilling firm ahead of central bank policy meeting

NAIROBI (Reuters) - The Kenyan shilling was firm against the dollar on
Monday due to hard currency inflows from diaspora remittances and thin oil
importer demand ahead of a central bank rate setting meeting later during
today’s session, traders said.

At 0829 GMT, commercial banks quoted the shilling at 100.70/90 per dollar,
compared with 100.75/95 at Friday’s close.

South Africa's government keen to see South african Airways debt
restructured soon

DUBAI (Reuters) - South Africa’s government would like to see South African
Airways debt restructured as soon as possible, Transport Minister Blade
Nzimande told Reuters on Monday

Huawei denies wrongdoing after US criminal charges

Chinese telecoms giant Huawei has denied any wrongdoing after US prosecutors
filed a host of criminal charges against the firm.

Huawei has also rejected criminal claims against its chief financial officer
Meng Wanzhou, who was arrested in Canada last month.

The charges filed against Huawei in the US include bank fraud, obstruction
of justice and theft of technology.

The case could escalate tensions between China and the US.

In a statement, Huawei said it was "disappointed to learn of the charges
brought against the company today".

It said it didn't commit "any of the asserted violations" and that it "is
not aware of any wrongdoing by Ms Meng".

The statement said the allegations of stealing trade secrets were the
subject of a settled civil suit, in which a jury found "neither damages nor
wilful and malicious conduct".

What are the charges?

The indictment, announced on Monday, alleges Huawei misled the US and a
global bank about its relationship with two subsidiaries, Huawei Device USA
and Skycom Tech, to conduct business with Iran.

The US announced charges against Huawei, several of its subsidiaries, and
its chief financial officer Meng Wanzhou

US President Donald Trump's administration has reinstated all sanctions on
Iran removed under a 2015 nuclear deal and recently imposed even stricter
measures, hitting oil exports, shipping and banks.

A second case alleges Huawei stole technology from T-Mobile used to test
smartphone durability, as well as obstructing justice and committing wire
fraud.

Huawei said it settled the dispute with T-Mobile in a civil case filed in
2014.

The firm's technology, known as Tappy, mimicked human fingers to test
phones.

Timeline: What's going on with Huawei?

Should we worry about Huawei?

In all, the US has laid 23 charges against the company.

"These charges lay bare Huawei's alleged blatant disregard for the laws of
our country and standard global business practices," said FBI Director
Christopher Wray.

Mr Wray said companies like Huawei "pose a dual threat to both our economic
and national security".

At a briefing in Beijing, government spokesperson Geng Shuang said there
were "political motivations" behind US attempts to "smear and suppress
certain Chinese companies".

"We urge them to treat Chinese enterprises in a fair and just way."

What's the context?

Huawei is one of the largest telecommunications equipment and services
providers in the world, recently passing Apple to become the second biggest
smartphone maker by volume after Samsung.

But the US and other Western nations have been concerned that the Chinese
government could use Huawei's technology to expand its spying ability,
although the firm insists there is no government control.

The arrest of Ms Meng, the daughter of Huawei's founder, infuriated China.

She was arrested on 1 December in Canada's western city of Vancouver at the
request of the US.

She was later granted a C$10m (£5.7m; $7.6m) bail by a local court. But she
is under surveillance 24 hours a day and must wear an electronic ankle tag.

Chinese 'national champion' faces US justice

Analysis by Karishma Vaswani, Asia business correspondent

Huawei is what the Chinese call a national champion. A private firm, tasked
with China's ambitions to go into the world and lead the way.

But now the full force of the US justice system is being hurled at the firm.

The allegations by the US Department of Justice are the most serious Huawei
has ever seen, and go to the heart of the trade war between China and the
US.

Huawei has consistently denied the allegations, and the firm's boss says it
is being used as a pawn in power games between the US and China.

While the US says the charges against Huawei aren't about trade war, it is
unlikely the Chinese will see it the same way.

The charges come as the US and China prepare to hold high-level trade talks
in Washington this week.

US commerce secretary Wilbur Ross stated that the Huawei charges were
"wholly separate" from ongoing trade negotiations with China.

Why China is under pressure to make a trade deal

US-China trade war in 300 words

However, the indictment focuses on the alleged theft of US technology, which
has been a major sticking point in trade negotiations.

President Trump's administration has imposed tariffs on $250bn (£190bn)
worth of Chinese goods, prompting Beijing to respond with its own tariffs.

Both countries agreed last month to suspend new tariffs for 90 days to allow
talks.--BBC

Apple rushes to fix FaceTime 'eavesdropping' bug

Apple placed this billboard at the recent Consumer Electronics Show in Las
Vegas.

Apple has acknowledged a flaw in its FaceTime software that allowed for
brief eavesdropping - even if the recipient did not pick up.

In some cases the target iPhone would send video, probably without the
receiver's knowledge.

The company said it had developed a fix and an update would be rolled out
this week.

In the meantime, Apple appears to have disabled the ability for users to
make group calls on FaceTime.

The flaw, first revealed by the 9to5Mac blog, appears to occur when both
users are running version 12.1 of Apple's mobile operating system, or newer.

The technique involves using the software's group chat function, apparently
confusing the software into activating the target's microphone, even if the
call had not been accepted.

The eavesdropping ends when the call is cut after too many rings.

'National Privacy Day'

In addition to audio, 9to5Mac reported that pressing buttons to block the
call or turn off the device would result in video being sent to the call
maker, without the recipient's knowledge.

In a statement, Apple told journalists: “We’re aware of this issue and we
have identified a fix that will be released in a software update later this
week.”

On social media, concerned users - including Twitter chief executive Jack
Dorsey - suggested disabling the FaceTime function altogether, which can be
done via the device's settings menu.

Discovery of the flaw coincided with “National Privacy Day” in the US, a day
heralded by Apple boss Tim Cook.

“On this #DataPrivacyDay let us all insist on action and reform for vital
privacy protections,” he wrote on Twitter.

“The dangers are real and the consequences are too important.”

New York governor Andrew Cuomo advised his city's residents "to disable
their FaceTime app until a fix is made available",

He said: "The FaceTime bug is an egregious breach of privacy that puts New
Yorkers at risk.

"In New York, we take consumer rights very seriously and I am deeply
concerned by this irresponsible bug that can be exploited for unscrupulous
purposes."

Apple also recently made a big play of its privacy credentials at the recent
Consumer Electronics Show in Las Vegas.

The company did not attend but placed a billboard near the event, reading:
"What happens on your iPhone, stays on your iPhone."--BBC

Trade war: Firms look to new factories as tariffs bite

The world's largest maker of industrial computers, Taiwan's Advantech, plans
to boost US production to combat the hit from the trade war.

Executive director Chaney Ho told the BBC the firm would avoid tariffs -
imposed on 40% of its goods - if it assembled more products in the US.

The company is one of many rethinking their supply chains in response to the
US-China trade battle.

The two sides will meet this week for talks crucial to resolving the
dispute.

The world's two biggest economies are trying to solve entrenched differences
over trade policy that have seen both sides impose tariffs on billions of
dollars worth of each other's goods.

A high-level Chinese delegation will visit Washington for two days of
negotiations, beginning on Wednesday.

Why China is under pressure to make a deal

A quick guide to the US-China trade war

What is a trade war and why should I worry?

The countries have a deadline of 1 March to strike a deal, or the US has
said it will increase tariff rates on $200bn (£152bn) worth of Chinese goods
from 10% to 25%.

'Made in America' push

Advantech is one Asian company caught in the crossfire.

The firm is the biggest maker of industrial PCs, according to data from IHS
Markit, making computers that are used to power machines in hospitals,
infrastructure and transport amongst others.

It splits manufacturing equally between two sites in mainland China and
Taiwan. Many products are sent to plants in the US and Europe for assembly.

Co-founder and executive director Chaney Ho said 40% of goods sold in
America were hit by tariffs imposed by the US in 2018.

To soften that blow, the company plans to boost its US capacity.

It says it will take a proportion of production currently assembled in China
and move it to the US. If the tariffs are removed, it will shift it back.

"We are going to increase the capability because of the tariffs," Mr Ho
said.

Advantech has an assembly plant in California and plans to open another
facility in Illinois in the next few years.

Mr Ho said while labour would be cheaper in China, the tariffs imposed by
the US on Chinese imports justified "more local assembly".

He believes the trade spat could continue for years.

"We are trying to avoid the 10% or 25% tariff and also we try to be close to
the market and our customer."

Chaney Ho said 40% of Advantech goods sold in the US are subject to tariffs

Shifting production

Advantech is not alone.

The Taiwanese company is one of many firms that may adjust their sourcing or
manufacturing locations to steer around the US-China dispute.

A recent survey of 200 manufacturing firms by investment bank UBS found 33%
planned to move production out of China within the next year, in part
because of the trade war.

It found 37% of firms surveyed had already moved production out of China
over the past year.

Separately, two Apple suppliers plan to boost capacity outside of China.

Some tech firms are boosting production outside of China

Foxconn will invest more than $200m in India and Vietnam while Pegatron
reportedly plans to build production capacity in Indonesia, Vietnam and
India.

Deborah Elms, executive director of the Asian Trade Centre in Singapore,
said that trend would accelerate if the US hikes tariffs again.

"At that point the US company or sourcing company will say this is serious
and doesn't appear to be going away, and at 25%, that's a lot of money."

She says if the US and China reach 1 March without a deal "you'll find a lot
of firms changing their decisions".

"Then you will definitely see supply chains shifting way faster than anyone
imagined."--BBC

US shutdown cost $3bn, says Congressional Budget Office

The partial shutdown of the US government is estimated to have cost the US
economy $3bn (£2.3bn).

The loss is expected to slash 0.02% from the country's growth in 2019, the
Congressional Budget Office (CBO) said.

The agency said overall damage amounted to about $11bn, but much of that
will be recovered as work resumes.

New trade tariffs could also knock about 0.1% off growth up until 2029, as
higher costs prompt lower consumption and investment, it said.

The CBO, the federal agency charged with analysing the economy and budget
for Congress, released the estimates on Monday alongside the broader outlook
it prepares each year.

The CBO said that prior to the shutdown it expected the US economy to grow
by about 2.3% in 2019, slowing from 2018 as a boost from federal spending
and 2017 tax cuts fades.

Growth is expected to decelerate further in following years, to an average
annual rate of 1.7% through to 2023.

The shutdown, the longest in US history, was triggered by disagreement over
President Donald Trump's demand that Congress include $5.7bn to build a wall
along the Mexican border in a new funding bill.

The stand-off forced about 800,000 federal workers to temporarily go without
pay and prompted cutbacks in most major departments, including the State
Department, Treasury Department and Department of Homeland Security.

US President Donald Trump ended the impasse on Friday, when he agreed to
back a deal to temporarily fund the government until 15 February.

US shutdown: Four reasons why Trump blinked

#ShutdownStories: The impact of the government shutdown

However, he has since said that he is sceptical a deal on border security
will be reached before funding expires again.

White House economic advisor Larry Kudlow also pushed back against the CBO
report, saying the agency is regularly too pessimistic.

"I'm not here to rail on CBO," he said at a press conference on Monday. But,
he added, "they have a different point of view."

Funding dysfunction

The CBO said US spending was already an issue, as the government spends
significantly more than it takes in.

This problem is expected to intensify in coming years, due in part to the
tax cuts approved in 2017, it said.

In 2019 alone, the US deficit is expected to be about $900bn, or 4.2% of
total US output. And from 2020-2029, the deficit is expected to average
$1.2tr or about 4.4% of GDP each year.

Over the past 50 years, the annual deficit was about 2.9% of GDP, the CBO
said.

Barring major policy changes, by 2029 the shortfalls will push US government
debt to the highest levels since just after World War II, it said.--BBC

Barclays boss was 'up at 2am' over bonus

A senior banker at Barclays panicked at 02:00 at the peak of the 2008
banking crisis that, if the bank was nationalised, his bonus would be
jeopardised, a court has heard.

Barclays was among banks needing extra funding during the crisis.

Roger Jenkins discussed with colleagues a plan to raise money privately, to
avoid having to accept taxpayer money.

A bailout deal from the government would have meant extra disclosure of
executive bonuses.

The bank later raised money from Middle Eastern investors and avoided a
government bailout.

The court heard a conversation between Barclays executives on 8 October
2008, the day the government announced £50bn of taxpayers' money would be
made available to bail out the banks.

'Highly motivated'

"At 2 o'clock in the morning I was panicking that we were about to get
nationalised and you guys must have been the same because the government
would, wouldn't look kindly on compensation over a million dollars," said
Roger Jenkins, then an executive chairman at Barclays Capital - the
investment banking arm of the business.

Prosecuting for the Serious Fraud Office, Edward Brown QC quoted from a
transcript of a telephone conversation that day between Mr Jenkins; Barclays
Capital Executive Richard Boath and another senior banker at the firm, Jeff
Weiss.

In the conversation, the executives discuss the risk of their bonuses being
disclosed, together with those of Barclays' group chief executive, John
Varley, and Barclays Capital chief executive, Bob Diamond.

The court heard the men's pay:

Roger Jenkins was paid £39m in 2007, and was recommended a payment of £25m
for his role in these capital raisings alone

Richard Boath was paid £2.87m in 2007, and £1.87m in 2008

John Varley was paid £4.23m in 2007 and £1.1m in 2008

Wealth chief Tom Kalaris was paid £13m in 2007 and £7.7m for 2008

Finance Director Chris Lucas was paid £2m for 2007 and £1.45m for 2008

"You may think that some of these men were highly motivated to keep their
jobs," Mr Brown QC said.

'Humble pie'

In a further phone discussion the following week, 14 October, between
Jenkins and Boath, Barclays group chief executive John Varley was described
as being "scared to death" of government intervention, and Bob Diamond as
"paranoid" and afraid of losing his job.

Mr Jenkins told a colleague in July 2008 he was going to visit Sheikh Hamad,
Prime Minister of Qatar, "to eat humble pie", Southwark Crown Court heard.

Barclays' Wealth Management chief executive Tom Kalaris

The visit came as Barclays realised not enough shareholders were buying new
shares to boost the bank's finances.

According to a conversation between executives Roger Jenkins and Richard
Boath that left it with a "nightmare".

The fraud trial is now in its second week. It is the first criminal trial of
senior UK banking executives in the wake of the financial crisis.

Pie and kisses

Qatar had expected to end up with fewer shares, according to prosecutors.

Because so few other shareholders had taken up their shares, Qatar would
have to buy more shares under the deal struck with Barclays, leaving it with
a larger proportion of the shares and a lower rate of return than expected.

In a conversation at 13:52 on 16 July 2008 with Mr Boath, Mr Jenkins said:
"One is I'm going to eat humble pie and kiss arse tomorrow now at 1.30."

Richard Boath: "Yeah"

Roger Jenkins: "At his house."

Richard Boath: "Okay. [...]"

Roger Jenkins: "Well yeah, he's gonna
 he's not gonna get the benefit of his
three, three and three quarters which you wouldn't want to print anyway."

Qatar had originally demanded a fee of 3.75%, the court heard.

In an email at 14.15 on the same day, Roger Jenkins wrote to Varley, Mr
Diamond and Mr Lucas notifying them of his plans to visit the Qatari leader:
"Gents
 I have arranged to go to sit with hamad
 so at least its face to
face as it looks like he'll be a 10% holder and the outcome is something
they never bargained for. We will need to co-ordinated on press as they
won't want to be seen to be mugs again losing !"

Mr Jenkins flew to visit Sheikh Hamad in the South of France the following
day, the jury heard.

Mr Brown QC, said the evidence showed Mr Jenkins and Mr Boath knew the fee
for an Advisory Services Agreement (ASA) was in fact part of the Qatari's
fee for investing of 3.25%.

"The conversations on the 16 and 18 June plainly show that Mr Jenkins and Mr
Boath knew that the ASA element was part of the fee for investing and
couldn't reveal it," Mr Brown said.

John Varley, Roger Jenkins, Tom Kalaris and Richard Boath have all denied
conspiracy to commit fraud. The trial continues.--BBC

INVESTORS DIARY 2019

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<http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimba
bwe&sa=D&sntz=1&usg=AFQjCNGhb_A5rp4biV1dGHbgiAhUxQqBXA>
www.facebook.com/BullsBearsZimbabwe

Skype:         Bulls.Bears 

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