Bulls n Bears Investors Notebook Issue 245: 09 May 2019

Thu May 9 09:54:37 CAT 2019

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Bulls n Bears Investors Notebook Issue 245: 09 May 2019

 <mailto:info at bulls.co.zw> 

Bulls 'n Bears Investors Diary: Today's Events

Old Mutual Zimbabwe 

AGM

Mirabelle Room, Meikles

09 May 2019  3PM

Quotable Quote:

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

Government targets increase in mining production

ZIMBABWE desperately needs investors in the mining sector given its
potential to steer economic growth towards attainment of an upper middle
income vision by 2030, a Cabinet minister has said. Government targets to
increase ferrochrome production to close to one million tonnes by year 2022.
Addressing mining experts and potential investors at the 35th International
Chromium Development Association (ICDA) conference here yesterday, Mines and
Mining Development Minister, Winston Chitando, said Government was working
hard to implement an integrated Mineral Development Plan whose goal is to
increase production among other deliverables.  <http://www.bulls.co.zw/>
Read more >

Bulawayo dreams of 'Trackless Tram'

BULAWAYO City Council (BCC) has approved an application from a Zimbabwean
PhD candidate to undertake a study on the ambitious possibility of
introducing the 'Trackless Tram' in the city. Trackless Trams (TT) are based
on technology created in Europe and China by taking innovations from
high-speed rail and putting them in a bus.  <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

Invictus, Sable sign gas Memorandum of Understanding

AUSTRALIAN Stock Exchange listed company, Invictus Energy, has signed a
Memorandum of Understanding (MoU) with Sable Chemical Industries Limited for
the supply of gas from the Cabora Bassa project in Mashonaland Central
province. Invictus is exploring for oil in the Muzarabani area, which also
has huge gas reserves. The MoU is meant to facilitate the supply of gas to
the fertiliser manufacturer for a period of up to 20 years once production
commences.  <http://www.bulls.co.zw/> Read more >

Parly adopts TNF resolutions

PARLIAMENT has adopted resolutions of the recent public hearings where
stakeholders called for an urgent need to regularise the Tripartite
Negotiating Forum (TNF) to deal with socio-economic challenges and minimise
industrial job action. The countrywide public hearings were attended by
different stakeholders including representatives from the Zimbabwe Congress
of Trade Unions, farmer unions, Ministry of Women Affairs, Community, Small
and Medium Enterprises Development and Ministry of Public Service, Labour
and Social Welfare, as well as the general public.
<http://www.bulls.co.zw/> Read more >

Government to advance US$6m for RHA Tungsten project

AIM-listed Premier African Minerals has signed an agreement with the
National Indigenisation and Economic Empowerment Fund that will see the
Government advancing US$6 million for production to commence at the RHA
Tungsten project in Hwange this year. Premier holds 49 percent interest in
the Matabeleland North-based RHA Tungsten mine while Government controls the
remaining 51 percent threshold.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

100MW solar plant for Bulawayo

LOCAL energy company, Guarantee Risk Solar Energy has embarked on a
partnership with a South Africa-based Bushveld Energy (eXcess Africa) for
the establishment of three solar photovoltaic plants with an output o f 250
megawatts.  The projects are expected to gobble at least $400 million and
will be administered in phases till completion of the scheme.
<http://www.bulls.co.zw/> Read more >

Midlands elects Gandidze CZI president

DENDAIRY Limited quality assurance and research development manager, Ms
Agatha Gandidze, has been elected president of the Confederation of Zimbabwe
Industries (CZI) Midlands Chamber. She takes over from Mr Mike Dzinoreva,
general manager of ZimAlloys Chrome, who has been at the helm of the body
since 2017. The regional elections, which were held in Gweru yesterday, also
saw operations manager at Sable Chemical Industries Limited, Mr Allan
Manhanga, being elected first vice president while Lassafre marketing
manager, Mr Rorani Zulu is the second vice president.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Rebate of Duty on goods imported for religious purposes

The Customs and Excise (General) Regulations, as published Statutory
Instrument 154 of 2001 section 127, provides for a rebate of duty for goods
imported for religious purposes by religious organisations.  This means that
such goods imported by a religious organisation enjoy duty free and Value
Added Tax (VAT) free concessions.  <http://www.bulls.co.zw/> Read more >

Expect exchange rate convergence by July: RBZ

CENTRAL bank governor Dr John Mangudya has said he expects the official and
black-market exchange rates to converge within two months, as the reference
RTGS dollar extended its decline against the US dollar to almost 25 percent.
Zimbabwe began formal forex trading of the RTGS dollars in February this
year through a newly created interbank market.  <http://www.bulls.co.zw/>
Read more >

Govt ready to support private sector: Modi

Government will always stand ready to support the private sector in
improving productivity, job creation and improved incomes in the country,
Industry and Commerce Deputy Minister Raj Modi has said. He said this while
on tour of an Art Corporation Limited division, Chloride Zimbabwe, which is
seeking government's intervention on regulation of exports of scrap and old
batteries.  <http://www.bulls.co.zw/> Read more >

African Sun opens up on Legacy deal

Zimbabwe Stock Exchange-listed entity African Sun said the recently
terminated deal it had with Legacy Hospitality Management Services Limited
(Legacy) was just a management contract and did not require the latter
putting money into the business. Speaking on the deal, African Sun said the
market had a wrong impression that Legacy had planned to invest US$60
million towards refurbishing African Sun Hotels.  <http://www.bulls.co.zw/>
Read more >

Potraz targets marginalised communities

Zimbabwe's telecommunications regulator, the Postal and Telecommunications
Regulatory Authority of Zimbabwe (Potraz) is targeting formerly marginalised
communities with information and communications technology (ICT) products to
enhance their participation in the economy in line with universal access.
The authority has identified people living with disabilities as
beneficiaries of the programme that seeks to enhance their access to ICT
products and services for education, research and increase productivity in
their economic activities.  <http://www.bulls.co.zw/> Read more >

Fruit exports surge

Zimbabwe's horticulture exports surged as the country's trade deficit shrank
by 90 percent in February 2019 compared to the same period last year.
According to statistics from ZimStat, the country's trade deficit decreased
significantly from US$228 million in February 2018 to just US$22 million in
February 2019 and prospects for an equilibrium appear on the horizon.
<http://www.bulls.co.zw/> Read more >

TIMB still hopeful of beating tobacco target

The Tobacco Industry and Marketing Board (TIMB) is adamant tobacco
deliveries could still breach this year's target of 240-260 million
kilogrammes despite sales from March to date trailing last season's numbers
by 36 percent for the same period. A dip in production or deliveries of the
golden leaf is a cause for concern for Zimbabwe considering that tobacco,
which last year generated nearly US$1billion, is the country's second single
largest foreign currency earner, after gold.  <http://www.bulls.co.zw/> Read
more >

INVESTORS DIARY 2019

Company

Event

Venue

Date & Time

Old Mutual Zimbabwe 

AGM

Mirabelle Room, Meikles

09 May 2019  3PM

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!

Bulls n Bears 

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