Bulls n Bears Investors Notebook Issue 277: 27 June 2019

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Bulls n Bears Investors Notebook Issue 277: 27 June 2019

 


 

 


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Bulls 'n Bears Investors Diary: Today's Events

 


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

 


 

 


Quotable Quote:

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

 

Zimbabwe allays fears over gold sales, remittances after currency reform

(Reuters) - Zimbabwe's central bank has reassured gold companies and people
receiving money transfers that they will still be able to receive foreign
currency in their bank accounts after a ban takes effect in shops. On
Monday, Zimbabwe declared its interim RTGS dollar the only legal tender,
ending the decade-long use of multiple currencies including the U.S. dollar.
<http://www.bulls.co.zw/> Read more >

 


 

 

 


 

Why Zimbabwe has banned foreign currencies

Zimbabwe's government has taken the controversial decision to ban local
trading in foreign currencies, including the US dollar, with immediate
effect. It has also reintroduced the Zimbabwe dollar, which was abandoned
because of hyperinflation in 2009 when the country mainly adopted the US
dollar and the South African rand. The move has shocked Zimbabweans, who
have little faith in a local currency - the exchange rate when the Zimbabwe
dollar was scrapped was Z$35 quadrillion to $1. <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

 

Mthuli slams debt takeover practice   

Government may not take over the debts of State-owned entities such as Air
Zimbabwe and Zisco, touted as critical to make them more attractive to
investors, after Finance and Economic Development Minister Professor Mthuli
Ncube indicated that automatic debt takeover was not good financial
practice. Professor Ncube said while it had taken longer than anticipated
for entities such as national carrier Air Zimbabwe and ex-steel making giant
Zisco, whose suffocating debts the Government has considered assuming, to
find suitors or technical partners to facilitate their turnaround, debt was
not the stumbling block. <http://www.bulls.co.zw/> Read more >

 


 

 

 

 


 

 

International remittances recipients to get forex   

Recipients of international remittances will continue receiving money in
hard currency following the abolishment of multi-currency system or can be
paid in local currency at a prevailing official exchange rate, the Reserve
Bank Zimbabwe has said. This also applies to cash withdrawals by individuals
who hold Foreign Currency Accounts Nostros. While unconditional cash
withdrawals by companies have been removed, banks are permitted to consider
special withdrawal requests from corporates. International remittances,
alongside exports, remain one of the largest sources of foreign currency
with inflows from migrants and US$619,2 million was realised last year.
<http://www.bulls.co.zw/> Read more >

 

	
 


 

 

Zera raids over 2 000 illegal fuel dealers   

THE Zimbabwe Energy Regulatory Authority (Zera) has raided over 2 000
illegal fuel dealers countrywide in the last seven months as part of an
ongoing operation to bring sanity in the sector. Coming at a time when the
country is battling a fuel supply gap in the face of foreign currency
shortages, illicit fuel deals have been blamed for causing distortions.
<http://www.bulls.co.zw/> Read more >

 


 

 

 

 


 

 

	 


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Invest in branding, packaging: Businesses told   

Local companies should invest in branding and packaging to enhance their
competitive advantage and penetrate the export markets' profitable business.
This was revealed at the ZimTrade and the Common Market for Eastern and
Southern Africa (Comesa) workshop convened in the capital this week to
promote small businesses' capacity to package. This convention is a follow
up to Comesa - European Union initiative which was convened in 2016 where
packaging was identified as one of important areas that needed to be
addressed to make attractive and competitive exports.
<http://www.bulls.co.zw/> Read more >

 

	
 

 

 

	
 

New regulations tame bourse arbitrage window   

THE 90-day disposal window of dual listed securities or shares bought by
investors on the Zimbabwe Stock Exchange is a positive move as it tames
arbitrage opportunities and externalisation of funds, economic analysts said
yesterday. The Reserve Bank of Zimbabwe (RBZ) has directed that with effect
from Tuesday this week, any investor who shall purchase a dual share on the
Zimbabwe Stock Exchange (ZSE) shall only be allowed to sell the shares on
the local bourse or on an external exchange after a vesting period of 90
days from the date of initial purchase. <http://www.bulls.co.zw/> Read more
>

 

	
 

	 


 <mailto:info at bulls.co.zw> 

 

	
 

	
 

Requirements to keep Transfer Pricing documentation   

The administration of Transfer Pricing (TP) documentation is governed under
section 98 B of the Income Tax Act (Chapter 23:06) as read with the 35th
schedule of the same Act. Further details pertaining to TP documentation are
provided for in Statutory Instrument 109 of 2019. Definition of Transfer
Pricing According to the United Nations Practical Manual on Transfer
Pricing, 2017, transfer pricing is defined as the general term for the
pricing of cross-border, intragroup transactions in goods, intangibles or
services. It is the price paid for goods and services between two related
economic entities. It embodies rules and methods for pricing transactions
within and between enterprises under common ownership or control.
<http://www.bulls.co.zw/> Read more >

 

	
 

 

 

	
 

Focus on stabilisation of exchange rate: Economist 
PROMINENT economist and former Government advisor, Professor Ashok
Chakravarti, says efforts should now be redirected at stabilising the
exchange rate to protect the value of the Zimbabwean dollar and stimulate
production. The adoption of a mono-currency system following the scrapping
of the 10-year long multi-currency regime on Monday, has been at the core of
Government's comprehensive economic reform agenda, he said. Speaking to ZTN,
the Zimpapers-run television channel on Tuesday, Prof Chakravarti said the
return of the Zim-dollar was a calculated move informed by round table
engagements by economists who advised that the multi-currency era was
temporary, and should lead to the adoption of a local currency.
<http://www.bulls.co.zw/> Read more >

 

	
 

	 

	
 

	
 

	
 

	 

	
 

ZNCC congress kicks off   

THE Zimbabwe National Chamber of Commerce 2019 annual congress being
attended by captains of Industry and Commerce kicked off here yesterday. The
congress which ends tomorrow, started with an annual general meeting and
closed sessions in the morning followed by a welcome ceremony. ZNCC chief
executive, Mr Christopher Mugaga, said expectations were high for a fruitful
discussion on topical issues affecting the economy.
<http://www.bulls.co.zw/> Read more >

 

	
 

 

 

	
 

Milk output up   

ZIMBABWE'S milk output for the first quarter increased by 14 percent to 19,4
million litres compared to the same period last year, the Livestock and Meat
Advisory Council has said. In its latest report for the period under review,
the Livestock and Meat Advisory Council (LMAC) said: "Milk production for
the first quarter of 2019 totalled 19,4 million litres, an increase of 14
percent over the same period in 2018". <http://www.bulls.co.zw/> Read more >

 


 

 

 

 

	
 

	
 

"People Can Still Withdraw Forex From Their Personal Accounts," RBZ Governor

FCAs Holders Still Allowed To Withdraw Their Money. One Change: Domestic
Transactions Require The Use Of Zim Dollar. Reserve Bank of Zimbabwe (RBZ)
Governor, Dr John Mangudya, yesterday reiterated that companies and
individuals can still withdraw their money held in foreign currency
accounts. His remarks come at a time when both mainstream and social media
were suggesting that the RBZ's Statutory Instrument 142 of 2019 had blocked
cash withdrawals from FCAs. <http://www.bulls.co.zw/> Read more >

 

	
 

 

 

	
 

Economists Warn Against Pegging Prices In US$

Zim Goods Priced In US$ Even After Ban Of Use Of All Foreign Currencies For
Domestic Transactions. The Economists Roundtable have warned against pegging
prices of goods and services in United States dollars. The warning comes
after the Reserve Bank of Zimbabwe introduced Statutory Instrument (SI) 142
of 2019 which bans the use of all foreign currencies for domestic
transactions.Read more

 

	
 

 

 

	
 

Govt Working On Modalities For A Proper Currency

The government has revealed that it is working on a new currency which will
be introduced into the market soon. The revelations were made by the Acting
Finance Minister Sithembiso Nyoni during a post-cabinet briefing in Harare
on Wednesday. Nyoni said that the RTGS$ and bond notes will remain as the
legal tender for all domestic transactions as pronounced by the government
while the modalities for a new currency are being worked on. She said:
<http://www.bulls.co.zw/> Read more >

 

	
 

	
 


 

INVESTORS DIARY 2019

 


Company

Event

Venue

Date & Time

 


 

 


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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