Bulls n Bears Investors Notebook Issue 278: 28 June 2019

Fri Jun 28 03:25:47 CAT 2019

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Bulls n Bears Investors Notebook Issue 278: 28 June 2019

 <mailto:info at bulls.co.zw> 

Bulls 'n Bears Investors Diary: Today's Events

BAT

AGM

Head office, 1 Manchester Road, Southerton

28 June 2019, 10am

ZBFH

AGM

Boardroom, Ground Floor, 21 Natal Road, Avondale

28 June 2019, 10:30am

ZPI

AGM

206 Samora Machel Avenue East

28 June 2019, 2pm

Quotable Quote:

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

Fastjet's hope for profit pinned on Zimbabwe currency - CEO

(Reuters) - Low-cost African airline Fastjet Plc expects to be profitable on
an underlying basis in 2019, Chief Executive Officer Nico Bezuidenhout said
on Thursday, a year after a cash crunch nearly drove the carrier into
administration, The airline, which operates in South Africa, Mozambique and
Zimbabwe, has faced numerous issues related to its dwindling cash pile and
was saved from going under after striking a deal to raise funds late last
year. <http://www.bulls.co.zw/> Read more >

Chasi Implores Members Of The Public To Pay ZESA Bills To End Power Cuts

Energy and Power Development Minister, Fortune Chasi, has urged members of
the public to pay their bills to the Zimbabwe Electricity Supply Authority
(ZESA). He was responding to a question during a post-cabinet media briefing
in Harare on Wednesday. Said Chasi: There have been some developments over
the past days and we need to deal with the demand and supply sides of power.
<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

Botswana Bans Forex Payments At Ports Of Entry

FCAs Holders Still Allowed To Withdraw Their Money. One Change: Domestic
Transactions Require The Use Of Zim Dollar. The Botswana Unified Revenue
Service (BURS) has announced that with effect from the 1st of August 2019,
it will no longer be accepting foreign currencies. The Department said in a
statement: The public is informed that with effect from 1st August 2019
Botswana Unified Revenue Service (BURS) will no longer accept any foreign
currency as payment.. <http://www.bulls.co.zw/> Read more >

Banks sit on nearly US$1bn   

Zimbabwean banks are currently sitting on nearly a billion United States
dollars while the economy is being ravaged by the impact of a US dollar
crunch and the pass through effects of steep parallel market foreign
currency premiums on prices, according to Finance and Economic Development
Minister Professor Mthuli Ncube. <http://www.bulls.co.zw/> Read more >

Invictus shares in trading halt   

The securities of Invictus Energy Ltd ('IVZ') will be placed in trading halt
at the request of IVZ, pending it releasing an announcement. Unless ASX
decides otherwise, the securities will remain in trading halt until the
earlier of the commencement of normal trading on Monday July 1, 2019 or when
the announcement is released to the market. Trading halts usually occur when
a publicly traded company is going to release significant news about itself.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

RBZ lifts interest rate cap   

The Reserve Bank of Zimbabwe has effectively removed the 12 percent cap on
interest rates after increasing the rate on its overnight window to 50
percent per annum from 15 percent. A bank rate (or discount rate) is the
rate of interest which a central bank charges on its loans and advances to a
commercial bank. A higher bank rate typically translates to higher lending
rates by the banks, and in order to curb liquidity, the central bank can
resort to raising the bank rate and vice versa. <http://www.bulls.co.zw/>
Read more >

Money supply growth slows   

Money supply growth inched up in March 2019, but rose at a slower rate than
that of the previous month of February mainly on the back of more money
chasing relatively fewer goods. According to the RBZ, annual broad money
supply increased by 2,29 percent in March to give a 38,14 percent rise for
the year to March 2019 compared to 37,94 percent annual growth recorded in
February, the Reserve Bank of Zimbabwe (RBZ) says. <http://www.bulls.co.zw/>
Read more >

 <mailto:info at bulls.co.zw> 

US$1,2bn debt subject to audit: Treasury   

GOVERNMENT has said it will audit and verify the authenticity of liabilities
it will assume under the US$1,2 billion historical or legacy debts to be
taken over through the Reserve Bank of Zimbabwe (RBZ) at a rate of one to
one between US and RTGS dollars. Permanent Secretary for Finance and
Economic Development George Guvamatanga told Business Weekly in an interview
yesterday that while the final analysis in the total debt may not reach
US$1,2 billion, the Government will verify the debts given its implications
on overall debt to Treasury and the tax payer. <http://www.bulls.co.zw/>
Read more >

Investor to set up chlorine plant   

A GERMAN company, Thyssen Krupp, plans to construct a chlorine plant in
Redcliff for the production of water purification chemicals for industrial
use. The proposed investment will be the latest in a number of other
projects set to benefit from the imminent opening of ZimCoke Pvt Limited,
which recently assumed ownership of a coke battery within ailing steel
giant, Ziscosteel. Last month, Government officially commissioned the $255
million ZimCoke project, which is set to commence production soon, and will
create nearly 1 000 jobs plus more opportunities along the value chain.
<http://www.bulls.co.zw/> Read more >

ZimTrade host packaging seminar   

THE country's trade development and export promotion agency, ZimTrade, will
today conduct a training seminar in Bulawayo to equip local businesses with
knowledge and skills on product branding and packaging for the export
market. ZimTrade said the one day business event also targets Small to
Medium Enterprises (SMEs) so that they boost their competitiveness outside
the country's borders. <http://www.bulls.co.zw/> Read more >

ZTA assures visitors.Any convertable foreign currencies still acceptable   

THE Zimbabwe Tourism Authority (ZTA) has assured all visitors to the country
that the removal of the multi-currency system from the economy will not
affect them. Finance and Economic Development Minister, Professor Mthuli
Ncube, through Statutory Instrument 142 of 2019, on Monday removed the
multi-currency system in Zimbabwe replacing it with a local unit of account
(RTGS$/ZWL) for transacting purposes. The move was meant to bring normalcy
to the economy. <http://www.bulls.co.zw/> Read more >

US$102m agric equipment in two weeks   

Zimbabwe is set to take delivery of farming equipment worth a combined
US$102 million within two weeks from John Deere and Belarus as Government
deepens efforts to boost productivity and ensure food security. This was
said by Lands, Agriculture, Water, Climate and Rural Resettlement Deputy
Minister Vangelis Haritatos during Agribank's annual general meeting in
Harare yesterday. John Deere, a top United States agricultural equipment
maker, thrashed a US$50 million farm mechanisation deal with the Government
in February. <http://www.bulls.co.zw/> Read more >

President urges industry to complement Govt reforms   

PRESIDENT Mnangagwa says Government will vigorously push the ongoing reform
process and implored captains of industry to complement the efforts through
explaining the developments to citizens as no one should be left out. He
said this while officially opening the Zimbabwe National Chamber of Commerce
(ZNCC) 2019 annual congress in Victoria Falls yesterday. The ZNCC congress,
which ends today, is running under the theme; "Expanding horizons: Dynamic
solutions for economic turnaround."Read more

Corruption convicts to lose wealth   

Those convicted of corruption will have their wealth and assets forfeited to
the State as part of restitution for their criminal deeds, President
Mnangagwa has said. He said his administration will rapidly and more
effectively respond to legitimate concerns of the general public with regard
to tackling corruption head-on by holding the corrupt fully accountable for
their misdeeds. The President said this in a speech read on his behalf by
Foreign Affairs and International Trade Minister Sibusiso Moyo at a two-day
Fraud and Corruption Conference, which opened in Harare yesterday.
<http://www.bulls.co.zw/> Read more >

INVESTORS DIARY 2019

Company

Event

Venue

Date & Time

BAT

AGM

Head office, 1 Manchester Road, Southerton

28 June 2019, 10am

ZBFH

AGM

Boardroom, Ground Floor, 21 Natal Road, Avondale

28 June 2019, 10:30am

ZPI

AGM

206 Samora Machel Avenue East

28 June 2019, 2pm

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.

Invest Wisely!

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