Bulls n Bears Investors Notebook Issue 348: 07 October 2019

Mon Oct 7 09:06:11 CAT 2019

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Bulls n Bears Investors Notebook Issue 348: 07 October 2019

 <http://bit.ly/2Zk0RT0> 

Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

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

Storm brews over nostro accounts

THE Reserve Bank of Zimbabwe (RBZ)'s decision to tighten regulations on
withdrawals of foreign currency by Zimbabweans who earn their salaries in
foreign currency faces litigation, while analysts warned the move would
result in people spiriting away their money to offshore accounts.A leaked
FBC Bank instruction circular at the weekend indicated that the RBZ will,
from today, be demanding written requests from people who earn in US dollars
for them to withdraw their money while banks will also be ordered to convert
all unutilised bank balances not withdrawn in one's nostro foreign currency
account within 30 days from day of deposit to local currency using
prevailing interbank rates.  <http://www.bulls.co.zw/> Read more > 

Zimdollar drops 135,7%

THE Zimdollar has devalued by 135,7% to $15,25 against the greenback on the
interbank market since it was declared the sole legal tender on June 24,
owing to persistent foreign currency shortages and the deteriorating
economic environment. When the Reserve Bank of Zimbabwe scrapped the use of
a basket of other foreign currencies, the Zimdollar was trading at US$1:2,5,
but as of yesterday, the interbank rate stood at US$1:$15,25.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

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

Mobile money transactions surge 108%

POSTAL and Telecommunications Regulatory Authority of Zimbabwe (Potraz) says
mobile operators experienced an increase in volume and value of mobile money
transactions with cash-in transactions surging 108% to $2,4 billion from
$1,2 billion during the second quarter of 2019, due to the growth in the
number of mobile money users. Cash-out transactions also increased by 63%
from $795,5 million to $1,3 billion in the second quarter ended June
2019."The growth in value of transactions is attributable to the general
increase in the prices of goods and services coupled with cash challenges as
well as the growth of users," Potraz said in its second quarter report.
<http://www.bulls.co.zw/> Read more >

Low uptake hits TBs auction

The three-year tenure $300 million Treasury Bills (TBs) auctioned last week
were undersubscribed, an indication the market has poor appetite for
long-term sovereign paper. On Wednesday last week, the Reserve Bank of
Zimbabwe floated $300 million TBs and invited financial institutions
including commercial banks, building societies, POSB and Infrastructure
Development Bank of Zimbabwe to subscribe.  <http://www.bulls.co.zw/> Read
more >

Forex crunch threatens fertiliser production

One of the country's leading fertiliser producers, Fertliser, Seed and Grain
Zimbabwe (FSG), has warned that delays in the processing of letters of
credit will derail the forthcoming agricultural season. FSG is a major
supplier for the government's Presidential Inputs Scheme, which supports
ordinary farmers. <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Government misses privatisation deadlines

The government has failed to meet its targets to revive state- owned
enterprises (SOEs) that were outlined under its much-touted economic
blueprint amid concerns about policy inconsistencies. Finance minister
Mthuli Ncube last year in September unveiled the Transitional Stabilisation
Programme (TSP), which was anchored on plans to revive SOEs by June this
year.  <http://www.bulls.co.zw/> Read more >

Private sector gears up for AfCFTA

Zimbabwe's private sector actors say they are ready to fully seize various
opportunities presented by the historic African Continental Free Trade Area
(AfCFTA) Agreement. The statement was made by Christopher Mugaga, CEO of the
Zimbabwe National Chamber of Commerce, during a joint high-level workshop
organised by the African Union (AU) Commission, the UN Economic Commission
for Africa (ECA) and the government of Zimbabwe to sensitise the country's
private sector on the AfCFTA.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Zimplats records slump in production

Zimbabwe's largest platinum producer Zimplats recorded a 36,1% slump in
production volumes to 415,72kg in August as rising inflation, coupled with
power cuts and foreign currency shortages, took a toll on the extractive
sector, it has been revealed. Zimplats' production in the first eight months
was pegged at 5 230,584kg. The Impala Platinum Holdings (Implats) subsidiary
retained US$150,9 million and US$98 million respectively from platinum
sales.  <http://www.bulls.co.zw/> Read more >

CIMAS To Increase Fees, Suspend Overdue Accounts

CIMAS, a medical aid society and one of the largest health insurance
organisations in Zimbabwe has announced that it will be reviewing
contributions by members so as to be in resonance with the deteriorating
economy. CIMAS added that it will be suspending all overdue accounts on a
monthly basis. We present below CIMAS' statement. <http://www.bulls.co.zw/>
Read more >

Agribank Workers Demand Interbank Rated Salaries - Report

Agribank workers have reportedly started to demand that their employer peg
their salaries against the interbank rate. They have complained that the
cushioning allowance they are receiving is not addressing their needs,
Newsday reports. <http://www.bulls.co.zw/> Read more >

Zera hikes fuel prices   

THE Zimbabwe Energy Regulatory Authority (Zera) on Saturday hiked fuel
prices, a development which, the public fear, is likely to trigger price
increases of other commodities.In a statement, Zera said for Harare the
maximum pump price per litre is $15,64 for diesel while blend is $14,97 from
an average of $12,42 and $11,76 respectively. It attributed the fuel price
increase to factors in the international market.   <http://www.bulls.co.zw/>
Read more >

Intellectual Property due diligence for SMEs   

NOWADAYS companies are increasingly becoming aware of the importance of
Intellectual Property (IP) assets as a means to expand their business,
raising capital and to providing financial gain. Small and Medium-sized
Enterprises (SMEs) are considering IP assets as a part of their balance
sheets. Consequently, to understand the full value of their intangibles and
make the most of their potential benefits, companies regularly conduct IP
audits.  <http://www.bulls.co.zw/> Read more >

TIMB applies for US$12m worth of inputs   

THE Tobacco Industry and Marketing Board (TIMB) has applied to the Reserve
Bank of Zimbabwe (RBZ) seeking US$12 million for the purchase of inputs. The
application comes at a time when contractors have said they are struggling
to service their offshore loans as most farmers failed to honour their
obligations due to subdued prices in the last selling season. TIMB chief
executive officer, Dr Andrew Matibiri, said that the US$12 million would
help independent tobacco farmers to purchase key inputs towards tobacco
growing this season. <http://www.bulls.co.zw/> Read more >

Government, Matopos Research partner to boost livestock production   

GOVERNMENT has partnered with Matopo Research Centre under a three-year
Zimbabwe Resilience Programme that is set to boost livestock production in
Beitbridge. Livestock production is one of the major economic drivers in the
country. The programme is being rolled out in three phases and implemented
by a consortium of non-governmental organisations with funding from the
United Nations Development Programme (UNDP). <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.

Invest Wisely!

Bulls n Bears 

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