Bulls n Bears Investors Notebook Issue 360: 24 October 2019

Thu Oct 24 03:46:19 CAT 2019

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Bulls n Bears Investors Notebook Issue 360: 24 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 operations weigh on Pick n Pay   

JSE-listed entity, Pick n Pay, says its Rest of Africa half year to
September earnings were 80 percent lower, weighed down by its Zimbabwe based
operations. The retail giant said the economic challenges in Zimbabwe, where
it has a 49 percent stake, had significantly affected its earnings.
"Reported earnings from the Rest of Africa division were down 79,8 percent
year-on-year, reflecting difficult economic conditions in Zimbabwe, with the
group's share of associate income now recognised under hyperinflation
accounting," reads the company's statement accompanying results.
<http://www.bulls.co.zw/> Read more >

Horticultural firms to get ring-fenced power   

FRESH produce exporters can now pay electricity bills in foreign currency in
exchange for ring-fenced power from Zesa to avoid power cuts, industry
players have said. Reduced production at Kariba hydro power plant due to low
water levels and recurrent breakdown at Hwange thermal power plant has seen
Zimbabwe experiencing the worst power cuts in three years. This has been
compounded by reduced exports.  <http://www.bulls.co.zw/> Read more >

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

Sanctions crippling firms   

The economic sanctions imposed on Zimbabwe by America and her allies are
designed to simultaneously cripple all facets of the country's economy and
Government initiatives being employed cannot yield desired results if the
embargoes are not unconditionally removed. Nationals from Southern African
Development Countries (Sadc) tomorrow join Zimbabwe in various activities
condemning the two decades old embargoes imposed on the country after a
bilateral tiff with Britain over land reform among other issues.
<http://www.bulls.co.zw/> Read more >

ZSE closes positive   

The Zimbabwe Stock Exchange closed positive yesterday as the market
continues to trade sideways amid few fundamental pointers on the direction
it should take. At the close of trading yesterday, the ZSE's main industrial
index had gained 2 percent to 771,82 while the ZSE Top 10 index was even
better with a 2,89 percent gain to 213,61. The ZSE's positive close was on
the back of a 12,69 percent gain in Cassava to 157,87 cents, FML up 4,17
percent to 25 cents and Econet up 3,23 percent to 173,38 cents. The market
was however not short of fallers with Art topping the losers with a 6.67
percent drop to 14 cents.  <http://www.bulls.co.zw/> Read more >

Zimra anti-graft fight targets recovering $74m   

The Zimbabwe Revenue Authority (Zimra) is targeting to recover $73,5 million
from its employees in 389 corruption cases it is investigating. This follows
lavish lifestyles some of the officers lead amid reports the majority of
them might be facilitating illegal importation of vehicles and other
contraband. The corruption probe and lifestyle audit cases started in
September this year.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

CAAZ hunts for duty-free retail shop operators   

The Civil Aviation Authority of Zimbabwe (CAAZ) is looking for reputable and
experienced entities to operate duty-free shops at Robert Gabriel Mugabe and
Victoria Falls International Airports, as part of developing non-aviation
revenue generating activities. The move follows the authority's decision to
operationalise its duty-free retail shops in Harare and Victoria Falls to
ensure the survival of airports under its jurisdiction, in line with its
mandate to promote safe, regular and efficient use and development of
aviation inside and outside of Zimbabwe and advising government on all
matters relating to domestic and international aviation.
<http://www.bulls.co.zw/> Read more >

Dorowa eyes magnetite market 

Dorowa Minerals, a primary  producer of phosphate concentrates in Zimbabwe,
plans to diversify into magnetite production to boost its revenue base, an
official has said. Magnetite is a rock mineral and one of the main iron ores
which has  several domestic and industrial uses including separating coal
from  waste, while for domestic purposes it can be transformed and used as
magnetic decor for refrigerator doors.  <http://www.bulls.co.zw/> Read more
>

 <mailto:info at bulls.co.zw> 

Government invites Indian ICT investors   

GOVERNMENT has invited Indian high-tech giants to explore business
opportunities and set up shop in the information communication and
technology sector in the country. Deputy Minister of Information
Communication Technology, Postal and Courier Services Jenfan Muswere,
extended the invitation last Friday while in India where he attended the
Millennial India International Chamber of Commerce, Industry and Agriculture
(MIICCIA).  <http://www.bulls.co.zw/> Read more >

International commitments delay agreements   

Diversified mining group, Vast Resources, says agreements on the Chiadzwa
Community diamond project in Zimbabwe with Katanga Mining and an expected
finance facility for US$13,5 million are yet to be signed. The agreements
were supposed to be penned last week. "The delay in signing the diamond
agreement is purely a matter of availability due to international travel
commitments of the relevant stakeholders," said Vast in a statement.
<http://www.bulls.co.zw/> Read more >

President courts Russian investors   

President Mnangagwa has implored Russian businesspeople to assist Zimbabwean
companies decimated by illegal sanctions imposed on the country by the West,
so that they recover. He said under the "Zimbabwe is Open for Business"
policy, it was important for Russian businesspeople to take up opportunities
that exist in many sectors, including sanitation, transport and tourism.
<http://www.bulls.co.zw/> Read more >

ED engages top Russian fertiliser producer   

A Russian firm, Uralkali, which is keen to invest in Zimbabwe's agriculture
and mining sectors, has engaged President Mnangagwa to reaffirm its interest
in taking up investment opportunities in Harare. Speaking after a courtesy
call on President Mnangagwa here on Tuesday night, Uralkali chief of the
board of directors Mr Dmitriy Mazepin said Zimbabwe has numerous investment
opportunities that should be exploited to cement bilateral relations between
Harare and Moscow.  <http://www.bulls.co.zw/> Read more >

Zimbabwe, Britain plot Brexit plan   

Zimbabwe should expedite the ratification of its trade agreement with the
United Kingdom (UK) to ensure the continuation of trade relations when
Britain leaves the European Union (EU). This was said by British Ambassador
to Zimbabwe Mrs Melanie Robinson after paying a courtesy call on Speaker of
the National Assembly Advocate Jacob Mudenda yesterday.
<http://www.bulls.co.zw/> Read more >

Alrosa co-organises diamond session   

ALROSA, one of the firms mining diamonds in Zimbabwe yesterday co-organised
the "Russian-African Collaboration in the Diamond Industry" session held as
part of the Russia-Africa Economic Forum business programme in Sochi,
Russia. The firm last year established an affiliate company, Alrosa Zimbabwe
Limited and in July this year, it signed an agreement to establish a joint
venture with the Zimbabwe Consolidated Diamond Company (ZCDC) to prospect,
explore and develop new primary diamond deposits.
<http://www.bulls.co.zw/2019/10/22/card-cloning-cases-on-the-rise/> Read
more >

US exporters reveal impact of sanctions   

AMERICAN exporters are feeling the pinch following the implementation of a
"50 percent rule" imposed by the Office of Foreign Assets Control (OFAC) as
part of sanctions imposed by Washington on blacklisted entities and
individuals. OFAC is the implementing arm of US trade restrictions that
include Zimbabwean companies.  <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!

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