Bulls n Bears Investors Notebook Issue 254: 24 May 2019

Fri May 24 10:00:49 CAT 2019

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Bulls n Bears Investors Notebook Issue 254: 24 May 2019

 <mailto:info at bulls.co.zw> 

Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

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

RBZ warns banks over forex abuse   

The Reserve Bank of Zimbabwe (RBZ) has warned it will take punitive action
against banks flouting exchange control regulations after noting rampant
abuse of nostro (domestic) foreign currency accounts (FCAs). It was also
noted some banks were taking too long to credit foreign currency from
proceeds of the sale of tobacco into farmers' nostro FCAs under
circumstances the apex bank wanted to understand. <http://www.bulls.co.zw/>
Read more >

Zesa reconsiders Dema power plant   

The Zimbabwe Electricity Transmission and Distribution Company (ZETDC) has
approached Sakunda Holdings over possible resumption of electricity
generation at the private firm's Dema diesel power plant. The Dema power
plant has been mothballed for the past 18 months after Zesa's transmission
and distribution arm said it no longer required power from the plant. The
plant has design capacity of 100 Megawatts (MW). <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

Water meters: A vital water management tool   

The use of water meters or other acceptable measuring devices has always
been key aspect in water resources management. While many people, especially
those using raw water for irrigation and other purposes are very sceptical
about the installation of meters in their operations, the use of water
meters is a standard practice worldwide which works to the advantage of both
water utilities such as Zinwa and local authorities and water consumers.  It
is therefore important that we unpack the benefits of meters for people to
see..  <http://www.bulls.co.zw/> Read more >

Harare stops installing solar traffic lights   

Harare City Council has stopped the installation of solar traffic lights due
to vandalism and theft of solar panels and batteries. Director of Works
Engineer Isaiah Chawatama said out of the 35 intersections that had solar
back-up, only 20 still had it. "These are located in the CBD which has heavy
traffic hence vandalism and theft are at their lowest," he said.
<http://www.bulls.co.zw/> Read more >

'Zupco remains profitable'   

GOVERNMENT has said Zupco remains profitable despite a 50 percent reduction
in bus fares. A distance of up to 30km is now pegged at 75 cents from $1,50
while a distance of up to 40km has been reduced to $1 from $2 for commuters
using Zupco buses.Local urban routes now cost 50 cents from $1. Acting Local
Government, Public Works and National Housing Minister Professor Amon
Murwira said efficiency in Zupco's computerised payment system will
eliminate any financial leakages making the parastatal profitable.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

ZETDC loses US$15million to vandalism   

THE Zimbabwe Electricity Supply Authority needs US$15 million to replace
vandalised equipment and eliminate unscheduled power cuts in the country
amid reports that the power utility is mulling intensifying load shedding.In
a statement on their official Twitter page, the power company's subsidiary,
the Zimbabwe Electricity Transmission and Distribution Company (ZETDC), said
vandalism of infrastructure had left more than 30 000 households without
power countrywide. <http://www.bulls.co.zw/> Read more >

Transfer pricing costs Zim millions   

GOVERNMENT could be losing millions of dollars through tax leakages where
big corporations are allegedly transferring their profits to other countries
where tax rates are comparably lower, a tax expert has said. Speaking at a
tax conference which opened here yesterday, managing director of Tax Matrix,
Mr Marvelous Tapera, said Zimbabwe faces a critical challenge of transfer
pricing. <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Comesa pledges support for Zimbabwe   

THE Common Market for Eastern and Southern Africa (Comesa) yesterday pledged
to support Zimbabwe in overcoming prevailing challenges and in ensuring that
the country is well positioned to be the industrial hub of the continent
through enhanced trade.  Comesa secretary general, Mrs Chileshe Mpundu
Kapwepwe, said the bloc would also support all efforts aimed at ensuring
that illegal sanctions imposed by the West are removed so that Harare plays
an enhanced role on the continent.  <http://www.bulls.co.zw/> Read more >

Mutsvangwa pins parallel market financial distortions on Old Mutual   

FORMER Presidential Advisor Ambassador Chris Mutsvangwa has blamed Old
Mutual for causing parallel market financial distortions where the exchange
rate has "inordinately" risen due to the Old Mutual Implied exchange Rate
(OMIR). Speaking on ZBCtv current affairs programme, Face the Nation, on
Wednesday night, Amb Mutsvangwa said the OMIR was being used on the Zimbabwe
Stock Exchange (ZSE) to determine the exchange rate and Old Mutual could
change it as they wished in determining the exchange rate.
<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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