Bulls n Bears Investors Notebook Issue 253: 23 May 2019

Thu May 23 04:10:31 CAT 2019

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Bulls n Bears Investors Notebook Issue 253: 23 May 2019

 <mailto:info at bulls.co.zw> 

Bulls 'n Bears Investors Diary: Today's Events

NMB

AGM

Head Office, 4th Floor, Unity Court

23 May 2019 , 3pm

Quotable Quote:

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

Zimbabwe, HCB in power deal   

Mozambique has offered to export power to Zimbabwe and Zambia in exchange
for further reduced generation at Lake Kariba, to cut down on water released
by their hydro power plants, whose discharge is worsening overflow at Cahora
Bassa Dam. If this materialises, the offer will provide huge relief for the
two countries that have already whittled electricity generation at Kariba
North and South amid concerns over fast receding lake water levels due to
drought in the dam's catchment areas. <http://www.bulls.co.zw/> Read more >

'DIDG, NRZ transaction ready by August'   

The Diaspora Infrastructure Development Group (DIDG)/Transnet  Consortium,
which won the tender for the US$400 million National Railways of Zimbabwe
(NRZ) recapitalisation project, has expressed optimism to conclude the
transaction by August this year. Last week, Transport and Infrastructural
Development Minister Joe Biggie Matiza told Parliament that Government had
removed the exclusivity clause for the US$400 million deal after the
investors failed to provide proof of funding for the project within 12
months of the framework agreement.   <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

Livestock slaughters increase   

Zimbabwe slaughtered an increased number of livestock for the year ended
December 2018 compared to the previous year although performance became
subdued towards the end of the year. According to a fourth quarter economic
review released last week by the Reserve Bank of Zimbabwe (RBZ), the number
of cattle slaughtered in 2018 was up 1,1 percent to 265 903 compared to 263
006 prior year comparative.  <http://www.bulls.co.zw/> Read more >

Low prices constrain tobacco deliveries   

Low prices have resulted in constrained delivery of tobacco to the auction
floors as farmers apparently hold on to their crop in anticipation of an
improvement in the price. Official figures from the Tobacco Industry
Marketing Board (TIMB) show that farmers have to date sold 101 million
kilogrammes of the golden leaf to the tune of US$184 million, reflecting
negative variances between volumes sold since the start of the marketing
season in March and deliveries over the same period last year.
<http://www.bulls.co.zw/> Read more >

ZSE optimistic   

The Zimbabwe Stock Exchange (ZSE) is optimistic of bright prospects on its
bourse in view of planned introduction of a wide range of new products and
services in response to market  needs. The local bourse currently has
limited products on offer for investors but indications are that the market
is open to new products and services such as commodities exchange, real
estate investment trusts and exchange traded funds.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Energy sector faces revamp   

The energy sector is expected to experience some remarkable turnaround
following President Mnangagwa's swearing in of Hon Fortune Chasi as the new
Minister of Energy and Power Development, taking over from Hon Joram Gumbo
who has assumed new responsibilities as the Minister of State for
Presidential Affairs in charge of Implementation and Monitoring. Minister
Chasi's appointment comes at a time the sector faces a litany of challenges
that include fuel shortages and inadequate supply of electricity owing to
low water levels at Kariba and consistent foreign currency shortages among
other things.  <http://www.bulls.co.zw/> Read more >

Efforts to raise wheat production pay off   

Government's drive to increase wheat production has begun paying dividends
with the country recording a 28,3 percent increase in yield per hectare
output, statistics provided by the Reserve Bank of Zimbabwe in its Quarterly
Economic Review have indicated. According to its 2018 fourth quarter report,
the apex bank said wheat output for the year stood at 160 663 tonnes from
158 515 tonnes produced in 2017 marking a gradual two percent increase on
last year, although area planted declined 22 percent during the period under
review on the back of viability concerns associated with growing the crop.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Diversification still on the table: Padenga   

Padenga Holdings says it is still considering a transaction that will see it
diversify and grow its exports to complement the traditional crocodile skins
and meat business, which already is mainly export centric. The Zimbabwe
Stock Exchange (ZSE) listed crocodile breeding company released a further
cautionary announcement yesterday reiterating an earlier statement it made
in early last month. <http://www.bulls.co.zw/> Read more >

$150m investment for Bulawayo   

BULAWAYO'S first ever solid waste-to-energy project is back on the rails
with the investor, Pragma Leaf Consulting Zimbabwe (Pvt) Ltd, pledging to
inject up to US$150 million to set up the conversion plant and kick-start
production. Although the project has suffered a number of false starts in
previous years despite the company having already purchased land for setting
up the plant in December 2014, Pragma Leaf Consulting said in a statement
that the renewable investment project was "on course towards being
operational with progress being made on several fronts" following the
ironing out of sticking issues. <http://www.bulls.co.zw/> Read more >

ECONET Subsidiary VAYA Registers More Than 10 000 Partner Drivers

ECONET subsidiary and CASSAVA Smartech Zimbabwe's Vaya division is reported
to have registered more than 10 000 partner drivers across the country. The
Uber-type ride-hailing service 'Vaya Lift' now gives more than 100 000 urban
rides per week.  Cassava chief executive officer, Mr. Eddie Chibi said that
the hail-riding service was now available in every city and town across the
country.  <http://www.bulls.co.zw/> Read more >

'Efficient allocation to ease forex woes'   

Zimbabwe has enough foreign currency for businesses to fund their foreign
payments if the interbank starts operating efficiently, Secretary for
Finance and Economic Development Mr George Guvamatanga has said. He said
Zimbabwe was generating more than US$1,2 billion per year in export
proceeds, which should be enough to oil the operations of companies if it is
taken to the interbank market. <http://www.bulls.co.zw/> Read more >

UK Company Drags RBZ To Court Over Debt

Holbud Limited, a London-based grain and fertiliser exporter has approached
the High Court seeking a court order to register a US$27,5 million arbitral
award granted against the Reserve Bank of Zimbabwe (RBZ) in November 2018.
Holbud's chief executive officer Hasnain Merali said: This is an application
for registration of an award awarded on November 26, 2018 in favour of the
applicant (Holbud) by the arbitrator retired judge Justice George Smith.
<http://www.bulls.co.zw/> Read more >

New forex rules in the pipeline   

Zimbabwe has enough foreign currency for businesses to meet their foreign
payments if the interbank starts operating efficiently, Secretary for
Finance and Economic Development Mr George Guvamatanga has said. He said
Zimbabwe was generating over US$1,2 billion per year in export proceeds,
which should be enough to oil the operations companies if taken to the
interbank market.  <http://www.bulls.co.zw/> Read more >

US$120m tiles plant takes off   

A US$120 million tile manufacturing plant near Norton has gone full steam
ahead, barely eight months after management got the nod to set up base
locally. Sunny Yi Feng Tiles (Zimbabwe) is already operating three factories
that are making tiles, printing cardboard boxes for packaging the tiles and
logistical support, covering up to 75 percent of its capacity and is
expected to reach full production soon.  <http://www.bulls.co.zw/> Read more
>

INVESTORS DIARY 2019

Company

Event

Venue

Date & Time

NMB

AGM

Head Office, 4th Floor, Unity Court

23 May 2019 , 3pm

Africa Day

25 May 2019

Dairibord

AGM

Steward Room, Meikles

31 May 2019, 12pm

Lafarge

AGM

Manresa Club, Arcturus

05 June 2019 , 12pm

CBZ

AGM

Stewart Room, Meikles

05 June 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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