Bulls n Bears Investors Notebook Issue 343: 01 October 2019

Tue Oct 1 03:44:55 CAT 2019

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Bulls n Bears Investors Notebook Issue 343: 01 October 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

Reserve Bank of Zimbabwe bans cash-in, cash-out facilities

The Reserve Bank of Zimbabwe (RBZ) has banned the cash-in and cash-out
facilities for all mobile money platforms, in a move aimed at curbing the
rampant abuse of these facilities by money dealers. The central bank has
also stopped all cash-back facilities. The directive was issued today by the
central bank's deputy director for financial markets and national payment
systems Josephat Mutepfa. - Business Weekly <http://www.bulls.co.zw/> Read
more >

ZESA Expected To Give Namibia More Electricity

Zimbabwe is expected to export 50 megawatts of electricity to Namibia in
fulfilment of a 15-year agreement signed between the two countries in 2015.
Zimbabwe power utility, ZESA is currently supplying 80 megawatts to
Namibia's power utility, NamPower. NamPower, as per the agreement,
rehabilitated the Hwange Power Station in Zimbabwe at a cost of US$40m. As
compensation, NamPower is currently importing 12% (80MW) of its electricity
from ZESA. <http://www.bulls.co.zw/> Read more >

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For more business & financial updates log onto <http://www.bulls.co.zw/>
www.bulls.co.zw

Vic Falls expo flops   

THE 2019 Victoria Falls Agricultural Show failed to live up to expectations
as children dominated the attendance with exhibitors falling far short of
the target. Although show organiser, Mr Tendai Moyo, had said 150 exhibitors
would take part from 75 in 2018 only 30, excluding small to medium
entrepreneurs, showcased their products and services.  Exhibitors patiently
waited for the official opening, which only took place around 6PM on Friday.
<http://www.bulls.co.zw/> Read more >

Jinan Corp targets US$100 million export earnings   

GWERU-based Chinese chrome smelter, Jinan Corporation, targets to increase
its annual export earnings to US$100 million and creating additional jobs
through construction of four more furnaces at its Almid plant. The company
operates five furnaces and will be commissioning a sixth low carbon unit
before end of this year.  Jinan Corporation is one of the top foreign
currency earners in Zimbabwe, grossing at least US$25 million from
ferrochrome exports. <http://www.bulls.co.zw/> Read more >

Makomo output drops 27 percent   

COAL miner, Makomo Resources, has reported a 27 percent drop in production
for the first nine months of 2019, attributed to procurement gaps as a
result of a shortage of foreign currency. The Hwange-based company produced
a total of 689 000 tonnes during the three-quarter period and expects to
close the year at one million tonnes.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

TV Sales & Home in major synergistic investments   

FURNITURE and electrical appliances retailer, TV Sales & Home, has acquired
a 49 percent stake in bed maker, Restapedic, and separately established a
joint venture lounge suite manufacturing company. The shareholding
acquisition was at a cost of ZWL$2,5 million and was approved by the
Competition and Tariff Commission in January this year, Axia Corporation
chairman, Mr Luke Ngwerume, said. <http://www.bulls.co.zw/> Read more >

Be innovative, earn forex, companies urged   

LOCAL companies should remodel their business strategies to expand their
market bases and tap into the regional and international opportunities.
Addressing academics and businesspeople at an annual Megafest Awards dinner
at a local hotel yesterday, entrepreneur and chief executive officer for
Megafest Holdings, Dr Tafadzwa Matsika, said businesses should strive to
spread their footprint and earn the country foreign currency.  He commended
business entities that have managed to stay afloat at a time when most
companies were folding. <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Power supply to improve long-term   

Government is working on various policies to ensure sustainable electricity
supply in the long-term after securing a deal from Mozambique's
Hydroelectrica de Cahora Bassa (HCB) of Mozambique for the supply of 100MW.
This came out during the presentation of the 34th Cabinet Decision Making
Matrix by Information, Publicity and Broadcasting Services Minister Monica
Mutsvangwa yesterday. Energy and Power Development Minister Fortune Chasi
briefed Cabinet on the deal. <http://www.bulls.co.zw/> Read more >

Private grain imports now legal - Govt   

GOVERNMENT has lifted the ban on private grain sales and granted the nod to
individuals and corporates with free funds to import quantities of their
choice to complement Treasury's efforts in ensuring adequate national grain
reserves. Lands, Agriculture, Water, Climate and Rural Resettlement Minister
Perrance Shiri, briefing journalists after yesterday's Cabinet meeting, said
those intending to do so can obtain required licensing from relevant
authorities. <http://www.bulls.co.zw/> Read more >

Civil penalties for forex payments   

Government has stipulated a $6 000 fine for anyone found pricing goods and
services in foreign currency, with a view to stopping the price madness on
the market where some traders continue to wilfully violate national
regulations to price in local currency. This follows the promulgation of
Statutory Instrument (SI) 212 of 2019 Exchange Control (Exclusive Use of
Zimbabwe Dollar for Domestic Transactions) Regulations 2019. The SI was
published last Friday in terms of Section 2 of the Exchange Control Act
[Chapter 22:05]. <http://www.bulls.co.zw/> Read more >

Fidelity Life in major revenue boost   

Zimbabwe Stock Exchange-listed insurance concern Fidelity Life Zimbabwe
posted a 143 percent jump in revenue to $62,5 million for the half year to
June 30, 2019, compared to $25,8 million achieved over the same period in
2018. Revenue boost was hugely necessitated by improvements in fair-value
gains on both property and equity portfolios.

 <http://www.bulls.co.zw/> Read more >

GB Holdings' profits up despite volumes slump   

Zimbabwe Stock Exchange (ZSE) listed rubber and chemicals manufacturer,
General Beltings, posted 264 percent growth in gross profit to $2,5 million
for the half-year to June 30, 2019, from $0,58 million in the prior year
comparative. The stellar performance was despite a fall in volumes by both
the ZSE listed entity's rubber and chemical  divisions.  Total volumes
shrank by 30 percent to 347 tonnes "due to inactivity in the first quarter
at the rubber division as the business remodelled in response to key policy
changes. <http://www.bulls.co.zw/> Read more >

Demand for pension fund payouts grows   

Demand for commutation of pensions has risen dramatically in the last few
years driven by the huge number of people laid off due to the harsh economic
environment, Insurance and Pensions Commission has said. IPEC said the
demand by desperate members to commute their pensions led the commission to
review the pension commutation framework as provided in Circular 4 and 8 of
2012 amended through statutory instrument 25 of 2016.
<http://www.bulls.co.zw/> Read more >

Fuel prices marginally up   

The Zimbabwe Energy  Regulatory Authority (Zera) said on Sunday fuel prices
will effective  Monday increase by 21 cents and 34 cents respectively for
petrol and  diesel. Zera said the price of petrol is now $11,76 per litre,
while diesel was  $12,42 cents.  <http://www.bulls.co.zw/> Read more >

INVESTORS DIARY 2019

Company

Event

Venue

Date & Time

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.

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