Bulls n Bears Investors Notebook Issue 285: 09 July 2019

Tue Jul 9 02:48:25 CAT 2019

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Bulls n Bears Investors Notebook Issue 285: 09 July 2019

Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

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

Drilling to begin next year in Muzarabani

ONE Gas Resources, the exploration partner of Invictus Energy Ltd in
Zimbabwe's Muzarabani district, expects drilling to begin in the second half
of next year, targeting an estimated 1.3 billion barrels of oil equivalent
and about 9.25 trillion cubic feet of gas. "The planned well will cost
anywhere between $15 million and $20 million and we will probably drill to a
maximum of 3.5 kilometres," One Gas executive chairman, Mr Paul Chimbodza,
said by email. The Muzarabani prospect could be "almost at par" with Total
SA's offshore Brulpadda oil discovery in South Africa and Exxon Mobil
Corp.'s gas project off Cyprus, he said.
<http://www.bulls.co.zw/2019/07/09> Read more >

Power cuts cripple informal sector   

THE incessant power cuts being experienced across the country have hit the
informal sector hardest with players now spending long hours or days without
production. The power utility, Zesa, is implementing a tight load shedding
regime that has seen some places going for up to 15 hours without power.
This is because of subdued power generation at the country's main stations
in Hwange and Kariba. Bulawayo Chamber of SMEs chairperson, Mr Energy
Majazi, said power cuts were now threatening livelihoods of their members as
production has automatically come down.  <http://www.bulls.co.zw/2019/07/09>
Read more >

 <mailto:info at bulls.co.zw> 

For more business & financial updates log onto <http://www.bulls.co.zw/>
www.bulls.co.zw

Streamline export processes: ZimTrade   

ZIMBABWE's trade development and export promotion agency, ZimTrade, says
there is a need for the country to streamline export processes and
procedures to increase trade benefits for the economy. ZimTrade chief
executive officer, Mr Allan Majuru, said enhancing the ease of doing exports
would help reduce the trade deficit and reliance on imports. "To address the
trade deficit there is the issue of ease of doing business, but from our
angle we look at it as the ease of doing export business.
<http://www.bulls.co.zw/2019/07/09> Read more >

Pre-qualification of prospective bidders for Bulawayo station project
complete   

TWO Indian companies have pre-qualified for the tendering process that was
done in that country to find a suitable contractor to repower the Bulawayo
Thermal Power Station, an official has said. Government secured $87 million
lines of credit from India for the rehabilitation of Bulawayo Thermal Power
Station in 2016 and the funding has since been reviewed to $110 million.
Speaking during a stakeholder meeting on repowering of the Bulawayo Thermal
Power Station at the Zimbabwe Power Company boardroom last Friday, general
manager for plant refurbishments,  <http://www.bulls.co.zw/2019/07/09> Read
more >

Chasi pushes for duty free solar equipment imports   

ENERGY and Power Development Minister, Advocate Fortune Chasi, says
modalities are being put in place to ensure solar products are imported duty
free to increase investment in renewable energy across the country. Speaking
in an interview during a visit to the site of the 100 megawatt Gwanda solar
power plant on Friday, Minister Chasi also said new construction projects
should be required to incorporate solar power. He said in the long run solar
energy was the best solution to address prevailing power supply challenges
facing the country. <http://www.bulls.co.zw/2019/07/09> Read more >

 <mailto:info at bulls.co.zw> 

Econet marathon boosts tourism   

PLAYERS in the tourism sector were the biggest beneficiaries of the Econet
Victoria Falls Marathon, which took place here on Sunday. Hotels and lodges
were fully booked starting last week until Monday while eateries and
activities also enjoyed more than 100 percent booking as sports tourists
from 43 countries who had registered for the event sought services in the
country's prime resort town, the Zimbabwe Tourism Authority (ZTA), reported.
This is besides scores of visitors who thronged the town not for the
sporting event but for holiday. Tourism players, who are smiling all the way
to the bank on the backdrop of the event, have said the marathon period is
an early Christmas for the industry. <http://www.bulls.co.zw/2019/07/09>
Read more >

Premium prices attract small farmers back to coffee growing in Zimbabwe

(Reuters) - 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, Muganyura almost gave up on the crop when prices slumped to as low
as U.S. 20 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/2019/07/09> Read more >

 <mailto:info at bulls.co.zw> 

Zimbabwe poised to raise public workers pay again

(Reuters) - The Zimbabwean government is ready to raise civil servants' pay
for the second time in three months because incomes have been eroded by
soaring inflation, Finance Minister Mthuli Ncube said on Monday, after a
labour group threatened protests. Zimbabweans are angry as year-on-year
inflation of around 100% has eaten the value of their wages and savings,
recalling the horrors of the hyperinflation era in 2008. The southern
African nation is grappling with a severe shortage of U.S. dollars, fuel,
bread, medicines and 17-hour daily power cuts, which have forced businesses
to use expensive diesel generators. <http://www.bulls.co.zw/2019/07/09> Read
more >

Zimbabwe power utility says needs $14 mln each month for imports

(Reuters) - Zimbabwe's state-owned power utility, ZESA Holdings, which is
implementing severe power cuts, needs $14 million for monthly electricity
imports from the regional power market, its acting Chief Executive Patrick
Chivaura said on Monday. "If we clear our debts to (South African power
firm) Eskom and (Mozambique's hydropower company) HCB it would wipe out our
(power cut) problems today, I repeat, today," Chivaura said. Chivaura added
that the company was seeking a government exemption to charge mining
companies in U.S. dollars to guarantee power supplies.
<http://www.bulls.co.zw/2019/07/09> Read more >

Zimbabwe could hike rates over 50% to deal with speculators -finmin

(Reuters) - Zimbabwe won't hesitate to raise interest rates above their
current level of 50% to deal with speculative borrowers, Finance Minister
Mthuli Ncube said on Monday. Zimbabwe hiked its overnight lending rate to
50% last month after making its interim RTGS currency the country's sole
legal tender. Central bank Governor John Mangudya said on Monday that
Zimbabwean individuals and companies held around $1 billion in
foreign-currency accounts, around three months' import cover.
<http://www.bulls.co.zw/2019/07/09> Read more >

US$645m traded on interbank market   

About US$645 million has been traded on the interbank market since the
platform was established in February this year, Reserve Bank of Zimbabwe
(RBZ) governor Dr John Mangudya has said. "As at the end of June 2019,
foreign exchange to the tune of US$644 million had been traded within the
interbank forex market," said Dr Mangudya while addressing a breakfast
meeting in Harare yesterday. "We are quite happy about that.
<http://www.bulls.co.zw/2019/07/09> Read more >

Chasi demands Gwanda solar completion   

ENERGY and Power Development Minister Fortune Chasi has demanded completion
of the multi-million dollar 100 megawatts Gwanda solar project saying he
wanted to see electricity being generated from the power station after
Government paid US$5,1 million in tax payers' money for its construction.
The energy minister also said an explanation from Zesa Holdings, the holding
arm of the group's power generation unit, on why there have been crippling
delays to the implementation of the Gwanda solar project was necessary.
<http://www.bulls.co.zw/2019/07/09> Read more >

NTS upbeat over Zim dollar   

NATIONAL Tyre Services (NTS) Limited is optimistic that the removal of
multicurrency system and the introduction of supportive policy measures by
the Government will have an encouraging impact on the economy. The firm
noted that the new policy interventions had brought sanity in the market,
especially to the accounting fraternity, which had been dogged by confusion
following the switch from multicurrency to monocurrency regime.
<http://www.bulls.co.zw/2019/07/09> Read more >

Moza, Zim power deal done - ED   

Mozambique is ready to assist Zimbabwe with increased supplies of
electricity from Cahora Bassa, the President has said. He was speaking on
the sidelines of the 12th Extraordinary Summit on the Continental Free Trade
Area after fruitful discussions with his Mozambican counterpart, President
Filipe Nyusi. President Mnangagwa said they had agreed that Mozambique will
supply more energy to Zimbabwe and the two countries' Ministers of Energy
will soon meet to tie up the loose ends of the deal.
<http://www.bulls.co.zw/2019/07/09> 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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