Bulls n Bears Investors Notebook Issue 269: 17 June 2019

Mon Jun 17 03:11:51 CAT 2019

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Bulls n Bears Investors Notebook Issue 269: 17 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

Banks, Paynet stalemate stalls transactions   

BULK payments service provider, Paynet Zimbabwe, has accused banks of greed
in refusing to pay fees in foreign currency for using its payments platform
despite pocketing a cumulative US22 million last year. Paynet Zimbabwe, a
subsidiary of financial payments technology service provider Payserve Group,
has since suspended banks from the platform, one of major facilities used by
for bulk payments, but says domestic financial institutions will not find an
alternative at a lower cost.  <http://www.bulls.co.zw/> Read more >

'Will implement fundamentals before scrapping multi-currency' - do in 6
months what fail in 10 years!

"One listener asked how the new currency would be sustained when there is no
production. The president (Mnangagwa) said that he would not be cornered
into revealing the stages that are to be followed until the local currency
is introduced before year end," reported Spotlight Zimbabwe. "He, however,
said that there are fundamentals that are to be met first before the
currency is introduced. He said that these include improving production,
minimising corruption and instilling confidence in the general populace. He
assured further called upon the members of the public to withdraw from the
panic mode as all fundamentals will be put in place before the new currency
is introduced."  <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

Africa Sun records growth   

LISTED hospitality group, African Sun (Pvt) Limited, says its business has
been growing since last year in response to positive business sentiment
under new dispensation. The group was established in 1968 and operates a
number of hotels, resorts, casinos and timeshare operations in Zimbabwe and
South Africa. Managing director Mr Edwin Shangwa, told our Bulawayo Bureau
that the company's business has benefited from new tourist arrivals recorded
last year on the back of renewed confidence in the wider tourism industry.
<http://www.bulls.co.zw/> Read more >

Rising demand pushes the ZSE

The Zimbabwe Stock Exchange (ZSE) climbed significantly during the week
ended June 14 2019, on rising demand across the board. The market recorded
gains for the 12th week in a row. All equity gauges traded in the positive:
the All Share Index and the Industrial Index advanced a further 9.07% and
9.12% to close the week at 206.79 points and 690.67 points respectively. The
Top 10 Index was up 10.99% to 201.69 points while mining counters gained
3.11% to settle at 248.51 points, a year-on-year high, after a strengthening
in the price of Bindura Nickel Corporation by 9.45%. Year to date, the ZSE
is up 41.40% as measured by the All Share Index.  <http://www.bulls.co.zw/>
Read more >

Bleak future for tobacco farming

THE future of tobacco farming in Zimbabwe is bleak due to viability
challenges, and farmers are calling for an emergency meeting with the
regulatory body and government to solve the issues affecting them. Tobacco,
which is Zimbabwe's second-biggest foreign currency earner after mining, is
currently under siege as producers are not given value for their golden
leaf. Farmers who invested foreign currency to produce the best crop are
their counting losses after the Reserve Bank of Zimbabwe (RBZ) told them
that they were only allowed to retain 50% forex.  <http://www.bulls.co.zw/>
Read more >

 <mailto:info at bulls.co.zw> 

Zimbabwe runs out of wheat

Zimbabwe has run out of wheat and bakeries in the country may soon not be
able to produce bread. One of the leading bakeries has suspended operations
and other major players are holding their breath unsure if they will be able
to weather the storm and stay afloat in the face of rising costs. Like with
many other basic commodities, bread prices have gone up more than three
times this year alone as the economy degenerates, but government says the
situation has been caused by cartels that enjoy monopolies in the industry.
<http://www.bulls.co.zw/> Read more >

Vic Falls rejects local currency

The resort town of Victoria Falls has almost completely dollarised due to
the volatility of the local currency, but the development has adversely
affected residents, it has emerged. Landlords, tuckshops, vendors, small
supermarkets, hotels, hardware shops and other suppliers are now accepting
only United States dollars. The only exception are the big retail chains
such as OK, but there are fears that they could go the same route as
suppliers are reportedly pushing to be paid using the greenback.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

'New Zimbabwe Currency Needs Fiscal Discipline' to Avert Economic Decay

A Zimbabwean businessman, who is also in President Emmerson Mnangagwa's
Advisory Council, says the government has assured local entrepreneurs that
the local currency set to be availed in the country before the end of the
year won't be printed in billions like the now defunct dollar, which was
dumped in 2009 due to historic hyperinflationary rates. In an interview with
VOA Zimbabwe Service, Busisa Moyo, noted that Zimbabweans are still
traumatized by the fall of the local currency and its reintroduction may
unsettle them.  <http://www.bulls.co.zw/> Read more >

Government working towards unlocking $600million drugs fund   

Government is working to raise its US$6 million contribution towards the
Global Fund to unlock about $600 million for HIV, Tuberculosis and Malaria
drugs as well as programming.  The Global Fund provides medicines for about
70 percent out of about 1,3 million people living with HIV in Zimbabwe,
while Government and other partners cater for the remainder.
<http://www.bulls.co.zw/> Read more >

Scores of 'Illegal forex dealers' arrested in police operation   

POLICE have arrested a number of suspected illegal foreign currency dealers,
popularly known as osiphatheleni, in an ongoing operation. Last Friday,
scores of women and men were arrested at the 'World Bank' near Tredgold
building for engaging in illegal forex deals. In a telephone interview
yesterday, Acting Bulawayo Police Spokesperson Inspector Abednico Ncube said
police were working to bring sanity to Bulawayo streets.
<http://www.bulls.co.zw/> Read more >

Interbank forex market trades US$154 million since inception   

THE interbank forex market has handled more than US$154 million worth of
transactions since its introduction in February this year, a senior Reserve
Bank of Zimbabwe (RBZ) official has said. Speaking during an exporters'
breakfast meeting organised by ZimTrade in Bulawayo last Friday, RBZ
director for exchange control, Mr Farai Masendu said the market has
responded positively to the interbank market. "As from the 22nd of February,
the interbank has handled US$154,7 million and cumulative interbank sales
have amounted to US$27 million.  <http://www.bulls.co.zw/> Read more >

IPEC proposes pension benefits before retirement   

THE Insurance and Pensions Commission (IPEC) is considering a proposal that
will see workers accessing part of their pension funds before retirement age
so as to preserve value for their contributions. IPEC head of pensions
department, Mr Josphat Kakwere, said this at a training session for pension
trustees at a hotel in Bulawayo last week. "IPEC has recently sent a
proposition that pensioners access their pensions before their retirement
age as a measure to preserve value," he said.  <http://www.bulls.co.zw/>
Read more >

Zim hosts Africa's wildlife summit   

President Mnangagwa will join other dignitaries from various countries and
organisations at Africa's Wildlife Economy summit in Victoria Falls next
week, to discuss ideas on the conservation of Africa's natural environment.
The conference is sponsored by the African Union (AU) and United Nations
(UN). The summit will be held under the theme "Communities for Conservation,
Harnessing Conservation Tourism, and Supporting Governments". Read more

AfDB plans Zim financial package   

THE African Development Bank (AfDB) is working on a financial package for
the country, as the continental bank continues to be impressed by political
and economic reforms being implemented by Harare. In an interview on the
sidelines of the 54th Meeting of Boards of Governors of the AfDB and the
45th Annual Meeting of the African Development Fund (ADF), which ended last
week, AfDB director for the Southern African region Dr Kapil Kapoor
confirmed that a package was being crafted. "We are in the process of having
discussions with the African Development Fund donors on what are the size
(of funding) the AfDB would disburse; what are the conditions of the entire
programme?" said Dr Kapoor.  <http://www.bulls.co.zw/> Read more >

INVESTORS DIARY 2019

Company

Event

Venue

Date & Time

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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