Bulls n Bears Investors Notebook Issue 272: 20 June 2019

Thu Jun 20 03:01:14 CAT 2019

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Bulls n Bears Investors Notebook Issue 272: 20 June 2019

 <mailto:info at bulls.co.zw> 

Bulls 'n Bears Investors Diary: Today's Events

Zimpapers

AGM

Boardroom, 6th Floor, Herald House

20 June 2019, 12pm

Quotable Quote:

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

Court orders completion of Gwanda solar project   

The High Court has ordered Zimbabwe Power Company (ZPC) and Intratrek
Zimbabwe to engage and map the way forward regarding completion of the
Gwanda solar power project, after granting the latter leave to execute the
court's earlier judgment declaring the contract between the parties valid.
Intratrek had applied for leave to execute High Court judge, Justice Tawanda
Chitapi's December 2018 ruling, pending appeal, over a contractual dispute
regarding the Gwanda solar project, which was delivered in favour of
Intratrek.  <http://www.bulls.co.zw/> Read more >

Zim takes search for investors to SA   

Zimbabwe takes the search for investors to South Africa in August in a bid
to attract businesses that can thrive notwithstanding the obtaining
challenging economic environment. This is also in sync with the "Zimbabwe is
open for Business" mantra emaciated by President Mnangagwa. Through the
Institute of Chartered Accountants of Zimbabwe (ICAZ) Winter School, which
will be held in conjunction with the Financial Markets Indaba (FMI) in Sun
City, South Africa, delegates will explore the need for businesses in
Zimbabwe to disrupt the uncertain economic environment in order to excel
locally and globally.  <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

SADC rail masterplan on the cards   

The Southern African Railways Association (Sara) will this year come up with
a Regional Railway Infrastructure Development Masterplan to address a number
of challenges that continue to pose a threat to SADC's rail network system.
It has been estimated that SADC's railway infrastructure challenges require
about US$100 million. Railways across the region are hamstrung by poor
infrastructure, equipment, statutory provisions, skills drain and poor
information technology which largely affect regional integration.
<http://www.bulls.co.zw/> Read more >

Miners speak on forex retention   

Small-scale miners, who account for more than 60 percent of gold deliveries
to state gold buying entity - Fidelity Printers and Refineries (FPR), have
called on the state buyer to review the foreign currency component that they
get for deliveries. Reserve Bank of Zimbabwe (RBZ) Governor, Dr John
Mangudya, reviewed downwards the foreign currency component due to
small-scale miners from 70 percent to 55 percent when he presented the 2019
monetary policy statement. The RTGS$ component is, however, now being paid
at the interbank exchange rate as opposed to the 1:1 that prevailed before
the liberalisation of the US$ to RTGS$ rate.. <http://www.bulls.co.zw/> Read
more >

Parly to summon Chasi over power outages   

Parliament will soon order Energy and Power Development Minister, Fortune
Chasi to update the nation on the worsening power situation and what is
being done to address it. The move comes as latest data from the Zambezi
River Authority (ZRA), which manages water used to produce power at the
Kariba hydro-electric station, revealed that the water levels were
worsening. Zimbabwe's power utility, Zesa Holdings is currently implementing
load shedding to declining power production, a situation that was made worse
by low water levels in the Zambezi River basin due to drought experienced in
the 2018/19 season. <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

ED throws weight behind free trade   

President Mnangagwa says the African Continental Free Trade Agreement
(AfCFTA), a trade pact envisaged to create a single market, is "a step
forward" likely to promote inclusive growth and enable African countries to
jointly work towards achieving a prosperous future. As part of his
intervention during the US-Africa Business Summit's plenary session titled
"Advancing a resilient and sustainable US-Africa partnership" yesterday, the
President said the new trading regime that will result from the roll-out of
the trade agreement, requires African countries to work together to ensure
that "we do not leave any single country behind".  <http://www.bulls.co.zw/>
Read more >

Govt seeks to capacitate industry   

Government is seeking lines of credit to support the manufacturing sector as
it moves to capacitate the key sector to enable it to increase exports
across the continent. Critically, the move will allow companies to compete
in the African Continental Free Trade Agreement (AfCFTA), a trade pact that
is expected to create a single market in Africa, which came live on May 30.
Officiating at the National Forum on the AfCFTA in Harare yesterday, Foreign
Affairs and International Trade Secretary Ambassador James Manzou said
exports are seen as important to national development across the world,
hence the deliberate decision by Government to support local manufacturers.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

NatPharm boss jailed for inflating drug prices   

National Pharmaceuticals (NatPharm) managing director Newman Madzikwa was
yesterday jailed for an effective 14 months after he was found guilty of
criminal abuse of office in relation to the arbitrary increase of drug
prices. The price increases, with the effect of precipitating a crisis in
the sector and endangering public health, were against the directive of the
Ministry of Health and Child Care and the NatPharm board.
<http://www.bulls.co.zw/> Read more >

Mega boost for cattle industry   

Zimbabwe has potential to earn more than US$140 million annually from
exporting cattle semen following the recent launch of a production facility
in Chinhoyi. Built by the Chinhoyi University of Technology (CUT), the
state-of-the-art facility has an integrated system that produces and stores
at least seven million semen straws per year, Higher and Tertiary Education,
Science and Technology Development Minister Professor Amon Murwira said in
an interview yesterday.  <http://www.bulls.co.zw/> Read more >

Ecobank scoops top accolade   

PAN African commercial bank, Ecobank, has been named best retail bank in
Africa 2019 at the prestigious African Banker Awards recently held in
Malabo, Equatorial Guinea. The awards event was run during the African
Development Bank's annual meeting last week. Ecobank was also nominated for
African Bank of the Year award. <http://www.bulls.co.zw/> Read more >

2 100ha under wheat in Midlands   

MORE than 2 100 hectares of wheat have so far been planted in the Midlands
province under Command Agriculture and private sector initiatives. Crop and
livestock production provincial officer, Mrs Medlinah Magwenzi, said as at
the end of last week 1 700 and 400 hectares of land were now under wheat
through Command Agriculture and private sector programmes respectively. "As
I speak we have wheat under Command Agriculture and we also have wheat under
non-command agriculture.  <http://www.bulls.co.zw/> Read more >

Tongaat defers financial results   

REGIONAL sugar producer, Tongaat Hulett (THL), has deferred publishing of
its periodic financial results to October 2019 pending conclusion of its
financial review and associated forensic investigation. The Hippo Valley
Estates Limited parent company has been conducting a strategic and financial
review since February 2019.  <http://www.bulls.co.zw/> Read more >

Suspension of duty on sanitary wear for women   

Did you know that there is no customs duty on the importation of sanitary
wear for women? The price of sanitary wear in Zimbabwe shot up beyond the
reach of many women forcing them to use unhygienic materials that expose
them to infections and other health related problems.  In response to the
plight of women, the Government scrapped duty and Value Added Tax (VAT) on
sanitary wear to make it affordable and to promote hygiene for women.Read
more

Who really sets prices in the open market?   

NO matter how many times this question is answered, it continues to be asked
again and again. One of the reasons is that the answer may be correct but
unbelievable.  As in all other markets, rules of supply and demand influence
pricing of agricultural commodities in open markets that are powerful
ecosystems in developing countries.  In fact the major determinant of price
is supply with demand only responding to supply. In big urban food markets
in Bulawayo and Harare, when the market opens at 5am in the morning, it
takes a few minutes for sellers and buyers to see that today there are more
tomatoes than yesterday. <http://www.bulls.co.zw/> Read more >

INVESTORS DIARY 2019

Company

Event

Venue

Date & Time

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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