Bulls n Bears Investors Notebook Issue 203: 05 March 2019

Tue Mar 5 11:34:38 CAT 2019

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Bulls n Bears Investors Notebook Issue 203: 05 March 2019

 <http://www.fbc.co.zw/> 

Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

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

RBZ acquires US$1bn loans   

The Reserve Bank of Zimbabwe (RBZ) has acquired $985 million in loans from
several regional banks for lending to the productive sectors as well as for
the purchase of critical imports such as fuel, according to the Apex Bank
governor Dr John Mangudya. Dr Mangudya told the Parliamentary Portfolio
Committee on Finance yesterday that Afreximbank loans accounted for the bulk
of external loans at US$641 million..  <http://www.bulls.co.zw/> Read more >

Econet glitch leaves subscribers stranded   

ECONET subscribers have been stranded for days following interruptions to
voice, data and EcoCash services. Scores of stranded people queued at Zesa
offices over the weekend trying to purchase electricity tokens after they
encountered network challenges. Deputy Minister of Information, Publicity
and Broadcasting Services Cde Energy Mutodi, on his official Twitter account
yesterday, said Government had noted the disruptions with concern.
<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

Can the interbank FX market end the black market?

The recent monitory policy statement announcement by the Reserve Bank of
Zimbabwe (RBZ) paved way for the re-introduction of the Interbank Foreign
Exchange market as recommended by industry captains who had been advocating
for an open market system to buy and sell foreign currency. The central bank
also introduced Bureau De-Change houses that will be permitted to purchase
foreign currency without limits, but will be limited to sell hard currency
for small transactions up to a maximum daily limit of US$10 000 per
institution.  <http://www.bulls.co.zw/> Read more >

TelOne & DigiVAS To Host Hackathon

Tel-One will be hosting the Tel-One DigiVAS hackathon from the 15th of March
2019 to the 24th of March 2019.  The Hackathon, a first for Tel-One will be
available on the online hackathon platform hackathon.io. The hackathon will
be open to participants who are of legal age and capable of entering binding
agreements (i.e. over 18 years) and are currently studying or have recently
completed their university undergraduate studies.  <http://www.bulls.co.zw/>
Read more >

Prepaid electricity system down: Zesa

ZESA Holdings says it is experiencing technical challenges on its prepaid
system countrywide. Scores of people throughout the country experienced
difficulties in buying electricity tokens through different platforms
offered by the power utility for pre-paid meters. "It's countrywide. We are
working to fix the challenge, which has affected Econet's EcoCash (mobile
money transfer facility) and we are investigating whether it is our side of
the system or EcoCash," Zesa spokesperson Fullard Gwasira said yesterday.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

'Zim has second worst mining policies in Africa'

ZIMBABWE has the second worst attractive mining policies in Africa, ranking
better than the Democratic Republic of Congo (DRC), a new report has shown.
According to Canada-based Fraser Institute's 2018 edition of the annual
survey of mining companies released last week, the southern African nation
was ranked 76 out of 83 jurisdictions ahead of DRC which was 82 out of 83.
<http://www.bulls.co.zw/> Read more >

NSSA in door-to door company raids

State-run pension fund, the National Social Security Authority (Nssa) says
it will soon be conducting site visits to companies to demand outstanding
contributions. In the 2017 financial year, Nssa contributions fell nearly
11% to $247,16 million from the previous year's comparative of $276,52
million, showing a general decline in contributions. In a notice yesterday,
Nssa said it had completed the verification of contributions and premium
debtors for the year ended December 2018 for an audit of its yearly
financial statements, when it noticed companies were in arrears.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Workers win Merlin management wrangle

The Supreme Court has ruled in favour of the Zimbabwe Textile Workers' Union
which had sought to have Merlin and Merspin Limited put under corporate
rescue

proceedings. The ruling gives Tudor House Consultants boss Cecil Madondo
relief to continue presiding over the companies. Madondo had acted as
judicial manager for Merlin since 2011, but a High Court ruling last
December by Justice Martin Makonese observed that there was a disconnection
in the name of the company Madondo had been managing and the actual company
registered with the Companies Registry.  <http://www.bulls.co.zw/> Read more
>

Bond Notes Have Worked That's Why I'm Not Resigning -Mangudya

The RBZ Governor John Mangudya remains defiant not to resign despite the
seeming failure of the bond notes (and bond coins). The currency had lost
more than 50% of its value before it was converted into the RTGS dollars
late last month. But yesterday, the Governor seemed to imply that people
misquoted him when he talked about his resignation back in 2016. Rather than
resigning over the failure of bond notes (through losing their value), Dr.
Mangudya promised he would resign if the bond notes failed as an export
incentive.  <http://www.bulls.co.zw/> Read more >

First Capital Bank Postpones System Upgrade Due To Monetary Policy Statement

First Capital Bank was supposed to undergo a system upgrade from the 28th of
February to the 4th of March but this has been moved to 15 March.
<http://www.bulls.co.zw/> Read more >

60MW solar plant for Umguza   

A BULAWAYO-based renewable energy firm, Glancier Investments (Private)
Limited, has unveiled plans to set up a 60-megawatt solar plant in Umguza
District in Matabeleland North province in a project that is set to cost
millions of dollars. The wholly Zimbabwean-owned company is focused on
investment and trading on renewable energy, which includes solar, biogas,
wind energy technologies and hydro electricity.  <http://www.bulls.co.zw/>
Read more >

EcoSure apologises   

CASSAVA SmarTech Zimbabwe's insurance arm, EcoSure, has apologised for
erroneously deducting money from subscribers' EcoCash wallets on Saturday.
EcoSure was under fire on social media at the weekend as frustrated EcoCash
users accused the micro-insurance company of "illegally" deducting money
from their accounts despite them having not subscribed for the service.
<http://www.bulls.co.zw/> Read more >

Zimplats royalty, commission expenses spike   

ZIMBABWE's largest platinum producer, Zimplats, has recorded a 74 percent
increase in royalty and commission expenses to US$12,2 million for the half
year period ended December 31, 2018. During the comparable period in 2017,
royalty and commission expenses by the platinum miner stood at US$7 million.
"Royalty and commission expense for the half year increased by 74 percent
from US$7 million reported in the same period last year to US$12,2 million
mainly due to an increase in royalty rates after migrating from a special
mining lease to a mining lease on May 31, 2018," said the company in its
half year report for the period.  <http://www.bulls.co.zw/> Read more >

Caledonia cries foul over export incentive   

AIM-listed mining group, Caledonia Mining Corporation, says its earnings per
share will decline by approximately US$5,4 million after the Reserve Bank of
Zimbabwe (RBZ) withdrew the export credit incentive scheme for gold
producers. The export incentive was introduced by the apex bank in 2016
under the bond note facility to encourage businesses to increase exports.
<http://www.bulls.co.zw/> Read more >

INVESTORS DIARY 2019

Company

Event

Venue

Date & Time

Willdale

AGM

Boardroom, Willdale Adminstration Block, Teneriffe Factory, 19.5km peg
Lomagundi Road, Mt Hampden

07 March 2019 11am

Mash

AGM

Boardroom, ZB Life Towers, 77 Jason Moyo Avenue

18 March 2019 12pm

Zimbabwe 

Independence Day

Zimbabwe

18 Apr 2019 

Good Friday

19 Apr 2019

Easter Saturday

20 Apr 2019

Easter Sunday

21 Apr 2019

Easter Monday

22 Apr 2019

Workers Day

01 May  2019

REST OF AFRICA

Counters Trading Under Cautionary

Border Timbers

Econet Wireless Zimbawe

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!

Bulls n Bears 

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