Bulls n Bears Investors Notebook Issue 291: 17 July 2019

Wed Jul 17 04:10:54 CAT 2019

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Bulls n Bears Investors Notebook Issue 291: 17 July 2019

Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

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

Zim Power Blackouts Trigger Turmoil In Telecom Sector

Zimbabwe's mobile network connectivity was in a bad state over the last
weekend, with callers and the transacting public reporting challenges in
making calls and getting mobile money transactions to go through. The
disruptive service unavailability comes at a time mobile money services are
playing a key inclusive role of bridging the financial divide by providing
services to those who have no access to formal banking systems. It is also
serving a key role in mitigating for the shortage of physical cash. This
also comes at a time mobile and data network provision is seen as the
bedrock of global and digital economy.  <http://www.bulls.co.zw/2019/07/17>
Read more >

Tongaat CEO Seeking to Freeze Payments on $793 Million Debt

Tongaat Hulett Ltd. is asking 10 lenders for a break from payments on as
much as 11 billion rand ($793 million) of debt so it can recover from the
impact of having to restate accounts, according to Chief Executive Officer
Gavin Hudson. The embattled South African sugar maker is spending about 1
billion rand a year servicing the borrowings and is looking to negotiate a
freeze by the end of July, Hudson said in an interview at Tongaat's 19th
century Durban headquarters, an old farmhouse surrounded by sugar-cane
fields. The company is in the process of selling assets and cutting costs to
strengthen the balance sheet, he said.  <http://www.bulls.co.zw/2019/07/17>
Read more >

 <mailto:info at bulls.co.zw> 

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

Victoria Falls hotels to pay ZESA in US Dollar

President Emmerson Mnangagwa's cabinet has announced that it had taken a
resolution to mandate hotels operating in the resort town of Victoria Falls
to start paying their electricity bills in foreign currency.  In a
post-cabinet briefing on Tuesday government said cabinet has a taken a
resolution to, "Endorse an arrangement whereby hotels in Victoria Falls pay
their ZESA bills in forex so as to boost capacity to import power supplies."
<http://www.bulls.co.zw/2019/07/17> Read more >

Mthuli Ncube's TSP could resolve most of Zimbabwe's structural problems,
says US

PRESIDENT Emmerson Mnangagwa's reforms anchored on his short-term policy,
the Transitional Stabilisation Programme (TSP) could resolve most of
Zimbabwe's structural problems, his most vocal foreign critic the United
States (US) has said. In an assessment titled: 2019 Investment Climate
Statements, Zimbabwe published by the US's Department of State, the Western
economic and political power however raised a red flag around property
rights which it said remained fluid under Mnangagwa.
<http://www.bulls.co.zw/2019/07/17> Read more >

Zimbabwe Dollar Drops By 27.9% Against The US Dollar

The Zimbabwe dollar has reportedly been of a downward trend since its
introduction through Statutory Instrument 142 of 2019 in June. The SI also
scrapped the multicurrency regime that had existed since 2009 following the
ditching of the original Zimbabwe dollar due to a record high inflation in
2008. Official exchange rates on Monday this week have revealed that the new
sole tender has tumbled 27.9% since then since introduction. It was being
traded at around 8.77 against the dollar. Reuters reports that the plunge is
even worse on the parallel market where it was being traded at 10.5 for
every US dollar on Monday.  <http://www.bulls.co.zw/2019/07/17> Read more >

 <mailto:info at bulls.co.zw> 

"They'll Lose Their Farms," Govt Warns "Rogue" Tobacco Farmers

The government has warned tobacco farmers who are violating stipulated rules
and regulations governing the farming of the crop that they risk losing
their farms. This was said by Midlands Provincial Crops and Livestock
Officer Mrs Madeline Magwenzi. Magwenzi revealed that her department had
observed that most farmers were not following the proper procedures
especially stumping, burning of stock and planting dates. This, she said,
puts other farmers' crops at risk of contaminating diseases including Potato
Virus Y (PVY).  <http://www.bulls.co.zw/2019/07/17> Read more >

POWER CRISIS: Mining Companies To Directly Import Extra Electricity

The government has taken a raft of measures to address the power crisis.
Among the measures, the government has allowed mining companies to directly
import electricity from Southern Africa. This is expected to reduce demand
and dependence on electricity imported by the government. Reading out
decisions of the 25th Cabinet meeting in the capital yesterday, Information,
Publicity and Broadcasting Services Minister, Monica Mutsvangwa, said:
<http://www.bulls.co.zw/2019/07/17> Read more >

 <mailto:info at bulls.co.zw> 

Govt Adopts Measures To Track Fuel Movement, Stocks, Vehicles Involved

Cabinet has adopted several measures to address the fuel crisis. This was
revealed by Information Minister, Monica Mutsvangwa yesterday in Harare.
Reading out several other decisions made by Cabinet, Mutsvangwa said that
Cabinet lamented over an open disregard of the contract between the
government and players in the energy sector. This follows reports suggesting
that some players reject electronic payments whilst some divert fuel to the
parallel market. Mutsvangwa said:  <http://www.bulls.co.zw/2019/07/17> Read
more >

Government suspends tax on raw platinum exports

GOVERNMENT has suspended plans to effect a 15 percent tax on raw platinum
exports by January 2022 following commitment by platinum mines to set up
credible refinery plants and capital inflows within the sector. Mines and
Mining Development Minister Winston Chitando said this in an interview with
ZBCtv on Monday. According to the State broadcaster, Minister Chitando said:
<http://www.bulls.co.zw/2019/07/17> Read more >

Cottco cushions cotton farmers

THE country's largest financier of cotton farmers, the Cotton Company of
Zimbabwe (Cottco), has increased the producer price of the commodity by 54
percent to cushion growers from rising inflation. Government initially
pegged the producer price of raw cotton at $1,95 per kilogramme, but
prevailing high inflationary pressures have made the upward review
necessary.  <http://www.bulls.co.zw/2019/07/17> Read more >

Blanket Mine output goes up

GOLD production at Blanket Mine in Matabeleland South improved by 6,4
percent to 12 712 ounces in the second quarter ended June 30, 2019 compared
to 11 948oz in the previous quarter. In a production update, Caledonia
Mining Corporation, parent company to Blanket Mine, said gold output for the
quarter under review was slightly below target, but ahead of the comparable
quarter in 2018, where the projection was 12 657oz.
<http://www.bulls.co.zw/2019/07/17> Read more >

Mine Entra begins

THE 24th edition of Zimbabwe's premier mining, engineering and transport
(Mine Entra) expo begins in Bulawayo today with all foreign exhibitors from
five countries having arrived for the show yesterday. Organisers of the
annual event, the Zimbabwe International Trade Fair (ZITF) Company,
yesterday confirmed that all was set for the expo amid high hopes that the
2019 Mine Entra would be bigger and better than the previous editions.
<http://www.bulls.co.zw/2019/07/17> Read more >

Government to review tax-free thresholds

Government will soon announce an upward adjustment in the tax threshold for
low-income earners in order to improve disposable incomes, Finance and
Economic Development Minister Mthuli Ncube said yesterday. The review will
be announced in the interim budget expected in the next two weeks.
<http://www.bulls.co.zw/2019/07/17> Read more >

Duty waiver on solar equipment   

Government has approved a duty waiver on solar equipment and allowed mining
firms to procure energy directly from the Southern African Power Pool.
Further, selected hotels in resort areas will soon start paying electricity
bills in foreign currency, as part of a raft of measures to overcome energy
problems bedevilling the country. In the fuel sector, Government directed
the urgent rollout of a remote tracking system by the Zimbabwe Energy
Regulatory Authority (Zera) and warned that errant service stations involved
in profiteering will have their licences revoked.
<http://www.bulls.co.zw/2019/07/17> Read more >

INVESTORS DIARY 2019

Company

Event

Venue

Date & Time

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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