Bulls n Bears Investors Notebook Issue 359: 23 October 2019

Wed Oct 23 08:01:16 CAT 2019

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Bulls n Bears Investors Notebook Issue 359: 23 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

Zimbabwe platinum venture needs $500 mln for first phase

Russian-Zimbabwean platinum venture Great Dyke Investments (GDI) requires a
further $500 million for the first phase of its Zimbabwean mining project
and is in advanced financing talks with Russian and South African lenders,
it said on Tuesday. Zimbabwe is pinning its hopes on the mining sector to
drive the recovery of an economy grappling with rolling power cuts and
shortages of foreign exchange and fuel.  <http://www.bulls.co.zw/> Read more
> 

EcoCash Closes More Agent Lines

Several EcoCash agents had their lines closed yesterday as result of ongoing
investigations by the Reserve Bank of Zimbabwe, according to Zimpricecheck.
EcoCash and RBZ have lately been trying to curb the trading of cash by
EcoCash agents and one way of doing that is blocking some agent lines.
<http://www.bulls.co.zw/> Read more >

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

Bus Stops To Have Solar-Powered Lighting Systems & Surveillance Cameras

The most recent cabinet meeting had an interesting piece of information we
missed out when we initially looked at it. The government's bid to finally
modernise public transport will include installation of solar lighting and
surveillance cameras at bus stops for the safety of passengers. To enhance
public convenience, Government is already working with the private sector to
construct appropriate shelters at bus stops and to improve security at such
points through the installation of solar-powered lighting systems and
surveillance cameras.  <http://www.bulls.co.zw/> Read more >

Seedstars World Pitching Competition Coming To Harare On The 25th Of October

Seedstars has become a mainstay in Zimbabwe and this coming Friday they'll
be hosting their 4th pitching competition at Impact Hub in the capital. The
event will be starting at 4 PM - probably made possible by the fact that
there's the anti-sanctions public holiday on the same day. It's not entirely
useless after all.  <http://www.bulls.co.zw/> Read more >

Pick n Pay share price pops 8% after profit increase

Pick n Pay [JSE: PIK] posted a 9.5% increase in headline profit (excluding
hyperinflation gains in Zimbabwe) on Tuesday morning.  Its share price
jumped more than 8% to R66.47 in the first hour of trading. Its comparable
turnover was up 6% to R43.1 billion. In South Africa, prices at its stores
rose by 2.2% compared to the same period last year. This is a reversal from
the year to March, when Pick n Pay's prices fell by 0.3%. Pick n Pay
stressed that the 2.2% rise is still below food price inflation. Annual food
inflation reached its highest level in 18 months, registering 3.8% in
August, according to Statistics SA.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

State-owned Fertiliser Company Cries Foul

The Zimbabwe Fertiliser Company (ZFC) claims that it was overlooked by the
government when it sought for a fertiliser supplier for the Presidential
Input Scheme despite being owned 50% by the government of Zimbabwe. This
came out when ZFC managing director Richard Dafana appeared before the
Parliamentary Portfolio Committee on Lands, Agriculture, Water, Climate and
Rural Resettlements, during a tour on the company's Aspendale Plant.
<http://www.bulls.co.zw/> Read more >

Norton firms seek ring-fenced power   

Business entities in Norton, large and small-scale firms, have offered to
pay their electricity bills in foreign currency in exchange for ring-fenced
power from Zesa to avoid crippling disruption to operations. This emerged
during the Norton Business Alliance meeting that was held last week in the
dormitory town to discuss many issues besetting businesses in the area,
chief among them rolling power cuts.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

2 percent tax to stay   

Finance and Economic Development Minister Mthuli Ncube says the 2 percent
Intermediated Money Transfer Tax on transactions will continue for much
longer as it covers for tax defaulters. His comments come amid growing calls
by business leaders to scrap the tax that they claim is increasing the cost
of doing business. Among those disputing the introduction of the tax is
Combined Harare Residents' Association (CHRA) director Mfundo Mlilo who made
a court application last month challenging the SI 205-2018.
<http://www.bulls.co.zw/> Read more >

Border Timbers sings the blues   

Milling and timber manufacturing company, Border Timbers, posted a sharp
increase in revenue to $38,4 million for the year to June 2019 from $21,3
million prior year, but its loss position widened on the back of exchange
losses. In a trading update, judicial manager Peter Bailey, said the
positive revenue performance was mostly driven by better average selling
prices on Lumber.  <http://www.bulls.co.zw/> Read more >

NOIC's after tax profit up 87 percent   

The National Oil Infrastructure Company of Zimbabwe (NOIC) posted a 55,1
percent revenue growth to US$340,2 million in 2018, up from US$219.4 million
in 2017. Profit after tax grew by 87 percent from US$14,2 million to US$26,5
million.Speaking at the company's 5th Annual General Meeting recently, the
Minister of Energy and Power Development Fortune Chasi, said NOIC's level of
performance makes it one of the few state enterprises that declare dividend
to Government annually..  <http://www.bulls.co.zw/> Read more >

More farmers take up cotton production   

The Cotton Company of Zimbabwe has registered more than 21 000 farmers in
Mashonaland East Province for the 2019/20 cotton farming season, indicating
an 88 percent rise compared to last year. This comes as cotton firm is
intensifying cotton production drive in new areas or areas where production
of the "white gold" used to thrive, but had been abandoned due to various
factors including lack of funding.  <http://www.bulls.co.zw/> Read more >

Tharisa on SEZ status  

Tharisa CEO Phoevos Pouroulis says getting Special Economic Zone status at
Karo Zimbabwe is a critical step in the development of what could become a
world class vertically integrated platinum group of metals (PGM) operation.
Last week, the Zimbabwe Special Economic Zones Authority (Zimseza) declared
a portion of Selous, covering areas with mining grants issued to Karo
Zimbabwe Holdings, as a special economic zone.  <http://www.bulls.co.zw/>
Read more >

Diamond sector in the spotlight   

Mines and Mining Development Minister Winston Chitando is tomorrow expected
to take part in a session to discuss cooperation in the diamond sector
between Russia and Africa.The discussions will be part of the deliberations
at the Russia-Africa Summit being held in Sochi City from today to tomorrow.
<http://www.bulls.co.zw/> Read more >

ZPC wants to mine own coal . . . Says existing firms failing to meet demand

THE Zimbabwe Power Company (ZPC) plans to invest in coal production to feed
its thermal plants as it is unhappy with existing coal mining companies who
are failing to meet demand.  ZPC head of operations, Engineer Kenneth
Maswera, told Energy and Power Development Minister, Fortune Chasi, during a
recent tour of the Hwange Thermal Power Station plant, that initial steps
have been taken to ensure the utility produces its own coal to augment
supplies by private firms.  <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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