Bulls n Bears Investors Notebook Issue 264: 10 June 2019

Mon Jun 10 05:20:51 CAT 2019

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Bulls n Bears Investors Notebook Issue 264: 10 June 2019

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Bulls ‘n Bears Investors Diary: Today’s Events

Quotable Quote:

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

EU to launch 40 million euro livestock programme   

THE European Union will this week launch a €40 million four-year agricultural growth programme to improve Zimbabwe’s livestock sector. The Zimbabwe Agricultural Growth Programme (ZAGP), who are the technical partners to the project, revealed this in a statement.  “A four-year agricultural growth programme will be launched in Zimbabwe on June 11, 2019, paving the way for increased livestock development in the country.  <http://www.bulls.co.zw/> Read more »

Government pledges to support Steelmakers   

GOVERNMENT has pledged to support Redcliff-based Steelmakers Private Limited to get sufficient raw materials to boost production which is being hampered by lack of scrap metal. Midlands Provincial Affairs Minister, Larry Mavima, said this during a familiarisation tour of the company last Tuesday. As the largest employer in Redcliff, he said, Steelmakers played a pivotal role in the province’s economy in line with the devolution thrust.  <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

Turnall’s Q1 profit up 21%   

LISTED roofing and building products manufacturer, Turnall Holdings Limited, defied the challenging macro-economic climate to post a 21 percent jump in profit to $8,5 million in the first quarter ended 31 March 2019 from US$7 million recorded during the same period in 2018.  The company has consolidated a profitability path after it reversed years of a loss making position.   <http://www.bulls.co.zw/> Read more »

Zimra embarks on staff audit   

The Zimbabwe Revenue Authority has moved to undertake an employee audit to rationalise and optimise its staff in line with the organisation’s 2019-2023 strategic plan. The audit may result in the laying off of some employees. The tax collector is already looking for a local or international human resources consultancy firm to carry out the audit. <http://www.bulls.co.zw/> Read more »

Economy on verge of recovery: Mohadi   

VICE PRESIDENT Kembo Mohadi says the country’s economy is on the verge of recovery as Government has stepped up its re-engagement efforts in line with its economic trajectory of transforming Zimbabwe into an upper middle income economy by 2030. In an interview yesterday, VP Mohadi said the austerity measures, which Zimbabweans were undergoing, were part of a painful reform process to achieve transformation and modernisation of the economy. <http://www.bulls.co.zw/> Read more »

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Govt rescues top coffee farmer   

Government has resolved the ownership dispute of a portion of Farfell Coffee Estate in Chipinge involving Messrs Richard Le Vieux and Remembrance Mbudzana to enable continued commercial production of the crop at the farm in the hands of the fomer. Cabinet made the decision at its sitting on May 28, reflecting President Mnangagwa’s pragmatic and pro-business approah in his administration, that has also been his hallmark in the last two decades when he has made timely interventons to protect businesses from rent-seeking behaviour and opportunism in the name of expropriation. <http://www.bulls.co.zw/> Read more »

Zim-China trade surplus tops US$455m   

Zimbabwe last year enjoyed a trade surplus of US$445 million with China, in a show of the positive upshots of the growing relations between Harare and Beijing. China’s Ambassador to Zimbabwe,  Ambassador Mr Gou Shaochun, said this in an exclusive interview with The Herald, revealing that he was eager to see more Chinese investors in Zimbabwe, particularly in the manufacturing sector, which is key to the country’s industrialisation and modernisation. <http://www.bulls.co.zw/> Read more »

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Securities market myths

This week we look at some popular investing myths and try to dispel them, because following them blindly can be dangerous and lead to people making incorrect investment decisions. Investing in securities is just like gambling. Gambling takes money from a loser and gives it to a winner, and no value is ever created. Whereas investing, increases the overall wealth of an economy. Don’t confuse investing and creating wealth with gambling’s zero-sum game. <http://www.bulls.co.zw/> Read more »

Govt to bring in new dairy investors   

Government says it is in negotiation with a consortium of local and international dairy investors with a view of concluding a deal that could see the country augmenting current production which is in excess of 65 million litres. Zimbabwe has for more than a decade failed to produce enough milk and has resorted to importing from South Africa, losing foreign currency. High production costs such as electricity, labour, stock feeds and chemicals have been the major stumbling blocks to the full recovery of the dairy industry. <http://www.bulls.co.zw/> Read more »

Falling renewable power costs may prop up climate action   

Zimbabwe’s ongoing power outages have once again brought into focus the need for accelerated investment into alternative renewable energy by both public and private actors. Energy and Power Development Minister Fortune Chasi last week tilted at this particular windmill, drawing attention to the potentials of solar power in a largely sunny country like Zimbabwe. It’s a conversation that’s almost getting tired when situated against Zesa’s incapabilities to make solar work when everyone else around the utility, especially households, is moving in that direction.  <http://www.bulls.co.zw/> Read more »

Chrome rakes in US$100m   

HIGH carbon ferrochrome exports have registered a 35 percent jump in the first quarter of the year compared to 85 000 tonnes produced the same period last year, earning the country US$100 million, according to official statistics. The industry has continued to heed President Mnangagwa’s call not to export unbeneficiated chrome. <http://www.bulls.co.zw/> Read more »

Govt keeps eye on ill-gotten wealth   

Proposed amendments to the Money Laundering and Proceeds of Crime Act will incorporate provisions for the High Court to issue out unexplained wealth orders, as Government moves to consolidate efforts to curtail financial and economic crimes such as tax evasion. This comes after President Mnangagwa made temporary provisions for such orders in the Presidential Powers (Temporary Measures) (Amendment of Money Laundering and Proceeds of Crime Act and Exchange Control Act) Regulations, 2018, gazetted in SI 246/2018, but have since recently expired.  <http://www.bulls.co.zw/> Read more »

Mthuli Ncube to resign as Minister

Finance Minister Mthuli Ncube will have to resign as Minister if he is endorsed by ZANU PF Matabeleland North province to stand as a Member of Parliament a constitutional expert has said.  Shephard Dube a constitutional lawyer from the University of South Africa says precedence was set during the President Robert Mugabe era that when a Minister appointed outside parliament contests for a parliamentary seat he has to resign from the Ministry and get reappointed.  <http://www.bulls.co.zw/> Read more »

DDF seeks review of roadworks contractor rates

THE District Development Fund (DDF) says it is facing a litany of service delivery challenges that have seen contractors engaged for road projects threatening to withdraw services citing high fuel…  <http://www.bulls.co.zw/2019/06/05/ddf-seeks-review-of-roadworks-contractor-rates/> Read more »

INVESTORS DIARY 2019

Company

Event

Venue

Date & Time

RTG

AGM

Jacaranda Rooms 2 and 3, Rainbow Towers

12 June 2019, 12pm

Zimplow

AGM

Head Office, 36 Birmingham Road, Southerton

13 June 2019, 10am

TSL

AGM

28 Simon Mazorodze Road, Southerton

19 June 2019, 12pm

Zimpapers

AGM

Boardroom, 6th Floor, Herald House

20 June 2019, 12pm

Masimba Holdings

AGM

Head Office, 44 Tilbury Road, Willowvale

21 June 2019, 12:30pm

RioZim

AGM

1 Kenilworth Road, Highlands

24 June 2019, 10:30am

Proplastics

AGM

Palm Court, Meikles

25 June  2019, 10am

MedTech

AGM

Boardroom, Stand 619, corner Shumba/Hacha Roads, Ruwa

27 June 2019, 2pm

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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