Bulls n Bears Investors Notebook Issue 266: 12 June 2019

Wed Jun 12 05:18:34 CAT 2019

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Bulls n Bears Investors Notebook Issue 266: 12 June 2019

 <mailto:info at bulls.co.zw> 

Bulls 'n Bears Investors Diary: Today's Events

RTG

AGM

Jacaranda Rooms 2 and 3, Rainbow Towers

12 June 2019, 12pm

Quotable Quote:

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

Cabinet okays industrial, local content policies   

ZIMBABWE is set for rapid economic growth following the approval by Cabinet
yesterday of two key policies, the Zimbabwe National Industrial Development
Policy (ZNIDP) and the Zimbabwe Local Content Strategy. The policies are
expected to result in massive job creation, especially in value addition and
beneficiation sectors, while also generating the much-needed foreign
currency. <http://www.bulls.co.zw/> Read more >

Zim to clear US$605m debt   

Zimbabwe is on course to clear its US$605 million debt with the African
Development Bank (AfDB), which will allow the country to start accessing
funds from the bank early next year, Finance and Economic Development
Minister Professor Mthuli Ncube has said. In an interview on the sidelines
of the ongoing 54th Meeting of Boards of Governors of the AfDB and the 45th
Annual Meeting of the African Development Fund here, Prof Ncube said the
country was complying with requirements that will pave way for it to access
funds.  <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

Zim Expects To Access Fresh Loans From AfDB By January 2020 - Mthuli

The Minister of Finance and Economic Development, Mthuli Ncube said that
Zimbabwe expects to get funding from the African Development Bank (AfDB)
next year as it moves to clear its US$605 million debt with the institution.
Ncube said this in an interview on the sidelines of the ongoing 54th Meeting
of Boards of Governors of the AfDB and the 45th Annual Meeting of the
African Development Fund in Malabo, Equatorial Guinea. He said:
<http://www.bulls.co.zw/> Read more >

Buy Zimbabwe Summit Postponed To July 4

Organisers of the 2019 annual Buy Zimbabwe Summit have announced that the
conference has been postponed to July. The Summit was pencilled for June
13-14 in Bulawayo but will now be held on July 4 after it emerged that the
guest of honour, President Emmerson Mnangagwa has other engagements. In a
statement released on Tuesday, the organisers said: Buy Zimbabwe would like
to inform its valued stakeholders that the 9th Annual Buy Local Summit,
which was set for 13 and 14 June 2019 in Bulawayo has been postponed for
tentatively 4 July 2019 at ZITF, Bulawayo. <http://www.bulls.co.zw/> Read
more >

Zimbabwe Demands The Ban On Ivory Trade To Be Relaxed

Zimbabwe has joined other Southern African countries in calling for a global
ban on the trade of ivory and tusks to be relaxed. It said that selling the
ivory will help it to raise money for conservation as authorities estimate
the value of its stockpiles at around US$300 million. According to reports,
Zimbabwe's demands to sell ivory puts it on a collision course with the
Convention on International Trade in Endangered Species (CITES). CITES
prohibits trade in ivory as a way of reducing poaching.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Air Zimbabwe Seeks Permission To Auction Old Planes

The national airline, Air Zimbabwe has written to treasury seeking
permission to auction some of its old airplanes to get rid of the fleet
which is lying idle. The Airline is in US$380 million debt which is
affecting its effort to get back on its feet. Recently, the national flag
carrier announced that it had suspended some flights as its only plane in
service was currently undergoing a mandatory maintenance check.
<http://www.bulls.co.zw/> Read more >

Maize producer price goes up   

GOVERNMENT has increased the maize producer floor price to $1 400 per tonne
from $726 to enable farmers to go back to the fields in the upcoming summer
cropping season. It, however, immediately warned retailers against
increasing the price of mealie meal since the Grain Marketing Board (GMB)
buying price remains unchanged. Cabinet said the maize producer price of
US$242 per tonne must be paid in RTGS dollars but at the prevailing
interbank market rate. <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Another blow for Bulawayo. . .National Blankets liquidates   

BULAWAYO textile manufacturing firm, National Blankets (Pvt) Limited, has
been liquidated following years of poor performance and failure to find a
good investment suitor in yet another blow to the city's industrial revival
drive. Bulawayo High Court Judge Justice Nokuthula Moyo issued an interim
order directing National Blankets to be placed under liquidation after she
was satisfied that the company could not continue operating normally due to
serious financial constraints it is facing. <http://www.bulls.co.zw/> Read
more >

CSC engages Netherlands leather consultants   

THE Cold Storage Company (CSC) has engaged senior experts from the
Netherlands to assist the firm in developing a comprehensive leather value
chain strategy that will promote value addition of leather and associated
by-products. The State-owned meat processor and marketer, which had become
dormant for 15 years, has secured a US$400 million lifeline after Government
and a United Kingdom investor Boustead Beef (Pvt) Ltd signed a joint venture
agreement to resuscitate the parastatal and is set to re-open before the end
of the year. The US$400 million capital injection will be spread over the
next three to four years. <http://www.bulls.co.zw/> Read more >

'Silo shops to tame price hike madness'   

WOMEN Affairs, Community, Small and Medium Enterprises Development Minister,
Sithembiso Nyoni, says the establishment of Silo shops countrywide would
help tame escalation of prices and create more business opportunities for
ordinary people. Government has already set aside $70 million towards the
initiative, which will see people's shops being set up to normalise access
to basic goods on the back of rampant acts of economic sabotage by some
business players. Silo Food Industries, a stand-alone State-owned commercial
entity after being unbundled from the Grain Marketing Board, would play a
key role in the distribution of affordable basics in all corners of the
country from cities, towns and villages.   <http://www.bulls.co.zw/> Read
more >

Smallscale miners seal fuel supply deal   

SMALLscale miners have struck a one million-litre weekly fuel allocation
facility aimed at improving mining operations on the back of the prevailing
power cuts the country is experiencing. Zimbabwe Miners Federation (ZMF)
spokesperson Mr Dosman Mangisi said fuel challenges facing their members
were expected to end following a tripartite agreement signed with Glow
Petroleum and Metbank last week. <http://www.bulls.co.zw/> Read more >

Economists dismiss Ncube's US$443 million budget surplus

Top economists, John Robertson, Persistence Gwanyanya and Prosper Chitambara
have dismissed Finance Minister, Mthuli Ncube's budget surplus of US$443
million recorded in the first quarter of 2019 for failing to address the
plight of ordinary Zimbabweans. Speaking in seperate interviews with
NewZimbabwe.com Business, the three called on government to do more in terms
of right sizing expenditure. <http://www.bulls.co.zw/> Read more >

CBZ awaits US response on US$385 million penalty

THE Commercial Bank of Zimbabwe (CBZ) is waiting for a response from the
United States Treasury's Office of Foreign Assets Control (OFAC) over the
status of the US$385 million worth penalty which was slapped on the
financial institution for undertaking multiple transactions on behalf of ZB
Bank which was then placed under sanctions. <http://www.bulls.co.zw/> Read
more >

'TSP addresses fiscal imbalances'   

THE Government's short-term economic blueprint, the Transitional
Stabilisation Programme (TSP), is resolving structural or fiscal deformities
contributing to the current instability of the economy, economic analysts
have said. The short-term economic blue-print, scheduled to run for two
years until 2020, was introduced in October last year and is already bearing
fruit in the form of successive budget surpluses since November, which saw a
$443 million first quarter 2019 excess.  <http://www.bulls.co.zw/> 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

Fidelity Life

AGM

Great Indaba Room, Crowne Plaza Monomotapa

26 June 2019, 10am

GB Holdings

AGM

Cernol Chemicals Boardroom,  111 Dagenham Road, Willowvale

26 June 2019, 11:30am

Dawn Properties

AGM

Ophir Room, Monomotapa Hotel

27 June 2019, 10am

Unifreight

AGM

Royal Harare Golf Club

27 June 2019, 10am

African Sun

AGM

Ophir Room, Monomotapa Hotel

27 June 2019, 12pm

FMP

AGM

Palm Court, Meikles

27 June 2019, 12pm

MedTech

AGM

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

27 June 2019, 2pm

FML

AGM

Palm Court, Meikles)

27 June 2019, 2:30pm

FBC

AGM

Royal Harare Golf Club

27 June 2019, 3pm

ZHL

AGM

Aquarium Room, Crowne Plaza Monomotapa Hotel

30 June 2019, 10am

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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