Bulls n Bears Investors Notebook Issue 283: 05 July 2019

Fri Jul 5 01:59:11 CAT 2019

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Bulls n Bears Investors Notebook Issue 283: 05 July 2019

Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

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

World Bank Upgrades Zim To Lower-Middle-Income

The World Bank Upgrades Zimbabwe to low-middle-income status from lo-income
status. The World has released an updated country income classifications for
the World Bank's 2020 fiscal year. Zimbabwe has been upgraded from lower to
lower-middle-income class. President Emmerson Mnangagwa earlier said that
the target of his administration was to reach the middle-income class by
2030  <http://www.bulls.co.zw/> Read more >

"Zim Dollar Would Soon Be Recognised Outside Zimbabwe," RBZ

RBZ says the Zimbabwe Dollar will soon be acceptable in other countries. The
Reserve Bank of Zimbabwe (RBZ) has said that it has written to international
exchanges requesting them to officially recognise the Zimbabwe dollar as a
tradeable currency. The Zimbabwe dollar was reintroduced through Statutory
Instrument 142 of 2019 which also outlawed the use of all foreign currencies
for domestic transactions. So far, the return of Zimbabwe dollar has evoked
mixed feelings. Whilst others believe it will be instrumental in the
resuscitation of the economy, its dramatic return revives dreadful memories
of the 2008 hyperinflation for others.  <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

Airzim, MackAir sign routes deal   

National flag carrier, Air Zimbabwe, has signed a partnership deal with
Botswana-based Mack Air that will see the two airlines jointly operating
routes from Harare and Victoria Falls to major tourists destinations. The
deal will also see the two operating daily regional scheduled air services
between Zimbabwe, Botswana, South Africa and Mozambique. In a joint news
release issued yesterday, the two advised that the flights will be operated
using brand new Cessna Grand caravan EX operated by Mack Air and Air
Zimbabwe's Embraer 154 jet aircraft.  <http://www.bulls.co.zw/> Read more >

Government debts weigh on TelOne   

State owned fixed telecommunications giant TelOne says unpaid Government
debts amounting to $93 million, 62 percent of total debt, are largely the
reason it has struggled to meet obligations to critical local creditors who
are owed nearly $100 million. And in 2018, TelOne said it was penalised $8,9
million by the Zimbabwe Revenue Authority (ZIMRA) for late settlement of its
tax obligations due to liquidity challenges brought by late settlement of
accounts by various customers, mainly the Government. Since its debtors are
taking too long to pay up, TelOne's trade debtors' book only decreased by a
mere 7 percent from $162 million in 2017 to $151 million 12 months later.
<http://www.bulls.co.zw/> Read more >

IMF welcomes monetary reforms   

The International Monetary Fund (IMF) says the latest reforms announced by
both the Ministry of Finance and Economic Development through SI 142 of 2019
and the Reserve Bank of Zimbabwe through exchange control directive
RU102/2019, are welcome as they seek to address economic distortions that
have impaired macroeconomic stability. Last week, Government introduced a
raft of changes that saw the country finally abandoning the multicurrency
regime that had been in place since 2009. Through SI 142 of 2019, Government
outlawed the use of any foreign currency in local transactions, but still
allowed the buying and selling of foreign currency on a willing
buyer-willing seller basis.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

New era beckons for ZimParks   

The Zimbabwe National Parks and Wildlife Authority (ZimParks) is set to be
restructured, with its commercial assets division being separated from other
operations to unlock potential and attract investors. As part of the
process, the entity will get an equivalent of US$11,9 million for
capitalisation, while its $21,5 million debt will be restructured. This was
resolved by Cabinet on Tuesday. Information, Publicity and Broadcasting
Services Minister Monica Mutsvangwa told journalists during a post-Cabinet
briefing that the turnaround strategy primarily targeted to address the
management and operational challenges at ZimParks.
<http://www.bulls.co.zw/> Read more >

Road construction gathers momentum   

Government has intensified construction of major highways to improve the
movement of goods and services countrywide, with construction works already
underway on various major roads, Transport and Infrastructural Development
Minister Joel Biggie Matiza has said. This comes at a time when President
Mnangagwa on Monday officially opened the refurbished Tanganda-Ngundu
Highway, which is a major gateway to South Africa from the eastern parts of
the country. In an interview with The Herald, Minister Matiza said the
construction of roads was in line with Vision 2030, which seeks to transform
Zimbabwe into an upper-middle income economy in the next 11 years and
boosting regional connectivity.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Govt works on policy framework to increase industrial linkages   

GOVERNMENT is putting in place a policy framework that will increase
industrial linkages anchored on value addition and beneficiation as key
pillars of the economy. Industry and Commerce Minister Mangaliso Ndlovu said
this yesterday in his keynote address read on his behalf by his deputy, Raj
Modi, during the ongoing 9th Buy Local Summit in Bulawayo. He said value
chain development and beneficiation will ensure the country derives value
from its primary resources while creating jobs and reducing reliance on
imports.  <http://www.bulls.co.zw/> Read more >

Econet firm launches 'Clean City' innovation   

CASSAVA Smartech, part of the Econet group, has launched "Clean City", a new
business whose goal is to provide sustainable waste management in urban
areas. The programme is being done in partnership with local authorities and
the private sector. Speaking at the launch event in Harare yesterday, Clean
City chief executive officer Mr Lovemore Nyatsine said the new business
would offer innovative and sustainable waste management solutions using the
Vaya App. "We are excited to be officially unveiling Clean City today, with
the goal of providing scalable and sustainable waste management solutions to
cities in Zimbabwe, starting with the capital Harare," said Mr Nyatsine.
<http://www.bulls.co.zw/> Read more >

Stanbic, SAZ in solar plant deal   

FINANCIAL services institution, Stanbic Bank Zimbabwe, has facilitated the
construction of a ZAR7 million 190kw solar plant for Standards Association
of Zimbabwe (SAZ) as part of interventions to aid adoption of sustainable
energy solutions. Stanbic head of personal and business banking, Mr Patson
Mahatchi, said the bank supported SAZ with the foreign currency which was
required to facilitate importation of all the necessary components for the
plant. He said Stanbic Bank sees sustainable energy solutions as one of the
pillars of social-economic and environmental strategy aimed at aligning the
business function with social and environmental development and conservation
for sustainability purposes.  <http://www.bulls.co.zw/> Read more >

Miners benefit from fuel deal   

ARTISANAL or small scale gold miners have started benefiting from the
prepaid fuel supply deal recently signed by their lobby group, Zimbabwe
Miners' Federation (ZMF) and fuel dealer, Glow Petroleum. In a memo to its
members dated 02 July 2019, seen by Business Chronicle, ZMF chief executive
officer Mr Wellington Takavarasha said miners can start accessing fuel at
Glow garages countrywide payable in local currency, with no need for forex.
"This serves to notify you that ZMF and Glow Petroleum have packaged that
Glow garages will have a fuel facility to provide one million worth of
diesel available every month for the artisanal and small scale miners as
long as they produce ZMF MetBank identity cards," he said.
<http://www.bulls.co.zw/> Read more >

OK Zimbabwe Addresses Customers Over Its High Prices

OK, Zimbabwe has responded to an outcry over its prices. In a statement
released on Thursday, the giant retail chain said: OK, Zimbabwe is grateful
for the support and patronage of all our customers. Your support and
patronage, particularly in these difficult times, is especially appreciated.
We are proud to be the leading Zimbabwean retail and supermarket chain and
we will strive to ensure that you, our customers, will continue to get value
from our stores. The last month of June has been turbulent as we received
numerous price increases from our supplier base as they chased the exchange
rate movement. We welcome the new SI142, which we believe will stabilise
prices and allow us to deliver the good prices and value you have always
expected and enjoyed from us.  <http://www.bulls.co.zw/> Read more >

US$130 Million Liabilities Pushed Econet Media Into Voluntary Administration
- Report

A report by TechCentral claims that Econet Media accumulated external debts
amounting to more than US$130-million before it was placed under
administration. The company was failing to pay its suppliers resulting in
its placement under administration earlier this week. Econet Media, which
owns free-to-air and pay-television, Kwese TV and Kwese Play, wrote to its
creditors informing them that it could no longer meet its financial
obligations to them.cThe report further claimed that the company is due to
meet its creditors on July 10.  <http://www.bulls.co.zw/> Read more >

David Whitehead Textiles Intends To Immediately Restart Operations

David Whitehead set to resume operations. DAVID Whitehead Textiles (DWT)
judicial manager, Knowledge Hofisi, has said that the company intends to
"immediately" restart operations at Chegutu factory following the
acquisition of the company's majority shareholding by Agri Value Chain
Zimbabwe (AVCZ). The company has had several years of intermittent
operations. Reports suggest that electricity was restored at the Chegutu
factory and some raw materials have already been procured in preparation for
the resumption of operations.  <http://www.bulls.co.zw/> Read more >

INVESTORS DIARY 2019

Company

Event

Venue

Date & Time

Edgars

AGM

Edgars Training Auditorium, 1st Floor LAPF House, 8th Avenue/Jason Moyo St,
Bulawayo

11 July 2019, 9am

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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