Bulls n Bears Investors Notebook Issue 258: 03 June 2019

Mon Jun 3 04:49:59 CAT 2019

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Bulls n Bears Investors Notebook Issue 259: 03 June 2019

 <mailto:info at bulls.co.zw> 

Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

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

Zimbabwe abstains from external borrowing to build fiscal discipline - IMF

HARARE (Reuters) - Zimbabwe will not borrow externally and will cut reliance
on the central bank to finance deficits during an IMF staff-monitored
programme in a bid to set a track record of fiscal discipline that could
earn it future funding, the IMF said. The southern African nation owes $8.8
billion to foreign lenders, $2.6 billion of that in arrears to the World
Bank, the African Development Bank and the European Investment Bank. It has
not accessed financing from international institutions since defaulting on
its debt in 1999.  <http://www.bulls.co.zw/> Read more >

Bravura to spend over $50 mln to explore for platinum in Zimbabwe

HARARE (Reuters) - Bravura Consortium will spend more than $50 million to
explore for and mine platinum in Zimbabwe, the Southern African country's
mines minister said on Friday, after both parties signed the agreement.
Zimbabwe is seeking to quickly exploit its reserves of platinum, which is in
growing demand for use in catalytic converters to limit emissions as car
manufacturers shift to making electric cars powered by lithium batteries.
<http://www.bulls.co.zw/> Read more >

 <http://www.firstmutualproperties.co.zw/> 

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

Zesa engages Eskom over debt   

Power utility Zesa Holdings will this week head to South Africa for crunch
talks with fellow electricity supplier, Eskom, over a payment plan relating
to a US$33 million debt for power imports. This comes as Zimbabwe is facing
debilitating power shortages, which have prompted crippling cuts, due to
reduced generation at Kariba Dam on concerns over fast receding lake water
levels.  <http://www.bulls.co.zw/> Read more >

'Fidelity monopoly must go'   

Small-scale gold producers have implored Government to end the monopoly of
Fidelity Printers and Refiners, as Zimbabwe's sole authorised gold buyer to
improve bullion deliveries from the sector amid fears of rampant leakages.
This comes as deliveries to Fidelity Printers and Refiners dropped 10
percent in the first quarter of 2019 to 6,5 tonnes from 7,7 tonnes in the
same period last year due to suspected gold leakages and smuggling.
<http://www.bulls.co.zw/> Read more >

'ZETDC gets 136MW from IPPs'   

The Zimbabwe Electricity Transmission and Distribution Company (ZETDC) is
receiving 136 megawatts from Independent Power Producers (IPPs), Energy and
Power Development Minister Fortune Chasi has revealed. The country's energy
regulator, the Zimbabwe Energy Regulatory Authority (ZERA), has licenced
numerous IPPs, but only a handful have been fully implemented.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

GetBucks to raise $5m   

Zimbabwe Stock Exchange (ZSE) listed microfinance institution Getbucks is
looking to raise RTGS$5 million through a rights issue. The group is looking
to re-capitalise on the back of growing loan demand after the company
transformed from a pure micro-lender into a full-fledged microfinance bank.
In terms of the capital raised GetBucks said it will issue 69,6 million
shares with a nominal value of RTGS$0,0001 each up for subscription at a
price of RTGS$0,072 at a ratio of 6,36 new shares for every 100 shares held.
<http://www.bulls.co.zw/> Read more >

Econet, YARA partner to inspire youth to join agri-food sector   

Telecommunications giant Econet Group, in conjunction with global crop
nutrition leader YARA International ASA, have launched the Generation Africa
Initiative that aims to inspire young African entrepreneurs to join the
agri-food sector for its viable business opportunities. The partnership
initiative will support a cohort of 12 budding young agri-food entrepreneurs
to scale and prosper their ventures.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Idle power producers to lose licences. . . as Govt assures productive
sectors   

OVER 30 independent power producers (IPPs) with licences to generate up to 5
000MW, stare the prospect of losing the licences for continuously failing to
resume operations, at a time the country is contending with acute
electricity shortages. This comes as Energy and Power Development Minister
Fortune Chasi last Friday assured productive sectors of the economy adequate
electricity and fuel to power their operations.  <http://www.bulls.co.zw/>
Read more >

Zim on right path, says IMF   

The work being done by Government to turnaround the economy in line with the
aspirations of the Transitional Stabilisation Programme (TSP) have been
recognised by the International Monetary Fund (IMF), with market watchers
saying the reforms are there for "everyone to see". The IMF's observation
comes after United States of America Ambassador to Zimbabwe Brian Nichols
said the economy will recover, but cautioned it won't happen "overnight".
<http://www.bulls.co.zw/> Read more >

Mining edges towards value addition   

THE mining industry has reaffirmed support for Government's aspiration to
value add and beneficiate local minerals, as opposed to exporting raw
materials, in a bid to generate more revenue for the country. Last year, the
country generated about US$3,4 billion from minerals, but experts insist
that if more minerals were to be value added and beneficiated, more revenue
would have been raked in.  <http://www.bulls.co.zw/> Read more >

'Black market sharks suppressing interbank rate'   

Industry and Commerce Minister Nqobizitha Mangaliso Ndlovu said yesterday
that some big companies that were getting the lion's share of foreign
currency when the Reserve Bank of Zimbabwe was allocating forex were now
frustrating the success of the interbank forex market system. Addressing
delegates to the Bulawayo Zanu-PF Youth League one-day conference held at
the party's provincial headquarters, Davies Hall, under the theme "Zimbabwe
Economy, Industry and Youth Opportunities", Minister Ndlovu said the same
companies who were big beneficiaries of RBZ forex allocations were now
working to frustrate the success of the interbank market because they were
thriving on the black market.  <http://www.bulls.co.zw/> Read more >

Big firms frustrate interbank.Eager to get forex for next to nothing   

Industry and Commerce Minister Nqobizitha Mangaliso Ndlovu said yesterday
that some big companies that were getting the lion's share of foreign
currency when the Reserve Bank of Zimbabwe was allocating forex were now
frustrating the success of the interbank forex market system. Addressing
delegates to the Bulawayo Zanu-PF Youth League one-day conference held at
the party's provincial headquarters, Davies Hall, under the theme: 'Zimbabwe
Economy, Industry and Youth Opportunities', Minister Ndlovu said the same
companies who were big beneficiaries of RBZ forex allocations were now
working to frustrate the success of the interbank market because they were
thriving on the black market.  <http://www.bulls.co.zw/> Read more >

'Zimbabwe has enough sugar'   

The Zimbabwe Sugar Association (ZSA) has urged members of the public not to
hoard sugar because there are enough stocks to meet local demand. In a
statement  last Friday, ZSA chairperson Mr Muchadeyi Masunda said that the
country has sufficient sugar stocks to meet national requirements.
<http://www.bulls.co.zw/> Read more >

Fuel stabilisation fund on the cards   

THE Reserve Bank of Zimbabwe (RBZ) will stabilise fuel prices by maintaining
the foreign curency exchange rate for fuel for two weeks to minimise fuel
price fluctuations. This was said by Energy and Power Development Minister
Fortune Chasi on Wednesday when he addressed Parliament on challenges facing
the fuel sector.  <http://www.bulls.co.zw/> Read more >

INVESTORS DIARY 2019

Company

Event

Venue

Date & Time

Lafarge

AGM

Manresa Club, Arcturus

05 June 2019 , 12pm

CBZ

AGM

Stewart Room, Meikles

05 June 2019 , 3pm

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!

Bulls n Bears

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