Bulls n Bears Investors Notebook Issue 284: 08 July 2019

Mon Jul 8 02:28:57 CAT 2019

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Bulls n Bears Investors Notebook Issue 284: 08 July 2019

Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

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

'Long-term interest rates won't spike'   

Zimbabwe's fiscal and monetary authorities say the removal of the cap on
banks' lending rates will only affect short-term borrowings while long-term
borrowers, especially corporates, remain insulated. The central bank's
interest rate policy plays a key role in the formulation of effective
monetary policy market interventions and impact on an economy insofar as
interest rates are determinant of the cost of capital.
<http://www.bulls.co.zw/> Read more >

Border Timbers in revenue growth   

Milling and timber manufacturing company, Border Timbers, posted sharp
increase in revenue to $20,7 million for the 9 months to March 31, 2019
compared to $15,7 million recorded in the prior year comparative. Growth in
revenue translated to a upward movement in profit before tax from $3,8
million recorded in 2018 to $6,2 million in the period under review. The
positive performance was mainly attributed to better lumber sales which
increased to 45,8m3 compared to 43,4m3 recorded in the prior year
comparative.  <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

OK welcomes new currency   

Retail firm, OK Zimbabwe on Friday  said introduction of the local currency,
the Zimbabwe dollar, has  stabilised retail prices and expects them to drop
further as the new  currency gains momentum. As part of wider economic
reforms, government re-introduced the local  currency late last month,
declaring it the sole legal tender while  banning the use of foreign
currencies in domestic transactions.  <http://www.bulls.co.zw/> Read more >

ZTA advances township tourism   

The Zimbabwe Tourism Authority (ZTA) continues to direct its efforts towards
the advancement of township tourism and last week the organisation took to
the streets of Mbare to promote the suburb as a tourist destination.
Ministry of Environment, Tourism and Hospitality Industry  in collaboration
with ZTA introduced the concept of township tourism in 2012, but few players
have grabbed the opportunity. This is a pro-poor approach to tourism
development that results in increased net benefits for the underprivileged.
<http://www.bulls.co.zw/> Read more >

Premium prices lure farmers back to coffee growing   

Mr David Muganyura smells the coffee cherries on the slopes of his plot and
breaks into a smile, as he chats to workers who are harvesting a crop he
expects to be his biggest to date. A long-time Zimbabwean coffee grower, Mr
Muganyura almost gave up on the crop when prices slumped to as low as US20
cents a pound at the turn of the millennium, and foreign buyers took flight
after land seizures drove out more than 120 white commercial coffee farmers
under the banner of post-colonial reform.  <http://www.bulls.co.zw/> Read
more >

 <mailto:info at bulls.co.zw> 

ED, Ramaphosa in energy talks . . . New Eskom deal on cards   

President Mnangagwa yesterday held successful bilateral talks here with his
South African counterpart, President Cyril Ramaphosa, to find lasting
solutions to Zimbabwe's power problems, clearing the way for officials from
the two countries to meet soon for a new power supply arrangement. The
President said Energy and Power Development Minister Fortune Chasi would
soon lead a delegation to SA to finalise a new power supply deal, that
should ease electricity woes in the country. "With President Ramaphosa we
met and we were sharing challenges we are facing and, in particular energy
shortages.  <http://www.bulls.co.zw/> Read more >

Multi-currency stifled economic growth: Minister   

THE use of the multi-currency system since 2009 stifled growth as the
country could not utilise monetary instruments to stimulate economic
activity, Finance and Economic Development Minister, Prof Mthuli Ncube, has
said. The country has been using the multi-currency monetary system for the
past 10 years, dominated by the US$ and the South African rand, among the
British pound, euro, Chinese yuan and Botswana pula.  While acknowledging
that in its early stages, the multicurrency system brought some stability in
terms of taming inflation and restoring value for money, the model has not
worked well for the country. <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Zimbabwe lags behind in AU border reaffirmation exercise   

ZIMBABWE is lagging behind in terms of conclusively reaffirming its borders
with neighbouring countries to avoid potential conflicts arising from the
exploitation of resources and other disagreements that may affect good
relations.  The border reaffirmation exercise is in line with the African
Union Border Programme (AUBP) that requires all member states of the
continental body to complete all international boundaries reaffirmations by
the year 2023.  This was revealed by the Auditor General, Mrs Mildred Chiri
in her 2018 annual report tabled before Parliament last week.
<http://www.bulls.co.zw/> Read more >

ZETDC Gets The First Batch Of Commercial Prepaid Meters

ZETDC has taken it to Twitter to reveal that it has received 2500 commercial
prepaid meters for its 40k customers the Daily News exclusively reported.
This move will see 6% of their commercial customers being added to the
prepaid grid. ZESA via its development engineer has said they were
installing these smart meters to  "enable and facilitate uptake of renewable
energy" <http://www.bulls.co.zw/> Read more >

TelOne Gets Creative In Light Of The Worsening Power Situation

TelOne people have put on their thinking caps and come up with a 2-month
long bundle in light of the worsening power cuts. TelOne, which provides
internet to households and businesses among other services is among one of
the companies whose clientele has been hit the hardest by the worsening
Power situation in the country. According to TelOne: We have developed a
bundle to curb for powe blackouts and increased our validity period to 60
days. The bundle is a $40 package with 15 GB data cap.
<http://www.bulls.co.zw/> Read more >

Agribank Hit The Hardest By The Exchange Rate Issues In Zimbabwe

State-owned Agribank is one of the banks that was hit the hardest by the
policy change that took place on 20 February 2019.  On that day treasury
decided to scrap off the 1:1 policy that meant one USD was equivalent to 1
bond. Since the free-floating exchange rate policy, the state-owned bank is
subjected to a foreign currency revaluation loss as it has more forex
liabilities.  The bank is reeking is a US $20+ million debt that is yet to
be repaid and are behind schedule already because of foreign currency
shortages being experienced in the country. <http://www.bulls.co.zw/> Read
more >

Government Considering Removing Forex Duty For Vehicles- Report

In a move that may see car importers paying duty for their vehicles in local
currency once again, it has been reported that the treasury department is
considering forex duty payments in favour of the local currency. The
standard was quoting Finance Ministry Secretary Gorge Guvamatanga who was
speaking to captains of the industry when he said: I think that issue is
currently under review and a position will be articulated maybe in two to
three weeks' time when we come back to the market with our midterm fiscal
policy.  <http://www.bulls.co.zw/> Read more >

Chivayo Cost ZESA US$50 Million By Failing To Deliver Gwanda Solar Power

Energy and Power Development Minister, Fortune Chasi, said that the
government feels let down by Wicknell Chivayo's Intratek Zimbabwe Private
Limited's failure to deliver on the Gwanda Solar Project. Chasi revealed
that the Zimbabwe Electricity Supply Authority (ZESA) has incurred losses of
up to US$50 million because of the delays in implementing the project.
<http://www.bulls.co.zw/> Read more >

Mudzi Gold Panners Shun Fidelity, Smuggle Gold To Mozambique

Gold panners operating in Makaha area in Mudzi, Mashonaland East province
are said to be avoiding selling their proceeds to Fidelity Printers and
Refiners (FPR), opting rather, to smuggle the yellow metal to Mozambique.
Fidelity Printers and Refiners is owned by the Reserve Bank of Zimbabwe
(RBZ) and buys, refine and exports the gold. MP for Mudzi South, Jonathan
Samkange said that the continuous running battles between the artisanal
miners and the police ware to blame for the non-remittance of gold to
Fidelity.  <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.

Invest Wisely!

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