Bulls n Bears Investors Notebook Issue 363: 30 October 2019

Wed Oct 30 09:15:10 CAT 2019

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Bulls n Bears Investors Notebook Issue 363: 30 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 central bank to introduce new dollar note and coins

HARARE (Reuters) - Zimbabwe's central bank will introduce some notes and
coins in the Zimbabwe dollar currency in the next two weeks, the latest step
towards restoring the domestic currency, central bank governor John Mangudya
said on Tuesday. The new money, consisting of 5 dollar notes and 2 dollar
coins, will be introduced gradually to avoid driving up inflation, Mangudya
said. It will circulate alongside the bond notes and coins introduced in
2016 as a surrogate for U.S. dollars, which the country was then mainly
using in lieu of its own currency.  <http://www.bulls.co.zw/> Read more > 

Makamba wins Telecel shareholding battle

HIGH Court judge Justice Edith Mushore has ruled in favour of the once
exiled businessman James Makamba in a long-drawn Telecel Zimbabwe (Pvt) Ltd
share ownership battle with a war veterans organisation, Magamba eChimurenga
Housing Trust. In the initial application, Magamba eChimurenga Housing
Trust, was claiming 24% shareholding in Empowerment Corporation (Private)
Limited, the indigenous group that owns shares in Telecel Zimbabwe.
<http://www.bulls.co.zw/> Read more >

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

Mobile money brings hyperinflation back

Hyperinflation is making an unwanted return to Zimbabwe. We don't know how
bad it is because the government has suspended publishing official figures
until 2020. But an IMF mission to the country in August put the rate at
close to 300% annually. More recent market estimates based on local currency
depreciation imply rates as high as 400%. This, sadly, is not new to
Zimbabwe. Between 2007 and 2009, the country experienced one of the world's
worst cases of currency collapse, with inflation rates as high as 90
sextillion percent year-on-year in November 2008. <http://www.bulls.co.zw/>
Read more >

Asa sells off BNC

Asa Resources has concluded the sale of its controlling interest in Bindura
Nickel Corporation (BNC), the country's largest nickel producer said in a
statement yesterday. BNC said the buyer of Asa's controlling 74,13% stake is
"a Zimbabwean based mining entity with interests in the mining and
production of ferrous metals, non-ferrous metals and precious metals".
<http://www.bulls.co.zw/> Read more >

Mangudya speaks on frozen accounts   

Zimbabwe can expect a more stable exchange rate and prices going forward
after the Reserve Bank of Zimbabwe (RBZ) froze bank accounts holding idle
funds that were being used to speculate on currency. The frozen accounts
held about $1 billion paid from Treasury Bill maturities and the money was
being used to buy foreign currency on the market in a manner that caused
exchange rate instability. The accounts include but are not limited to those
for Sakunda, Access Finance, Spartan Security, Croco Motors and related
companies, which were frozen last month by the bank's Financial Intelligence
Unit (FIU). <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Mthuli to present budget next week   

FINANCE and Economic Development Minister Mthuli Ncube has the unenviable
task of prescribing a set of policies and measures to breathe life into a
sluggish economy beset by galloping inflation and currency volatility when
he presents the 2020 National Budget tentatively set for next week. Treasury
sources told The Herald Finance and Business that the finance minister will
present his budget statement on November 4, 2019 amid high expectations and
a myriad of economic issues to address in order to stabilise the economy and
place it on sustainable and fast growth path.  <http://www.bulls.co.zw/>
Read more >

Potraz approves mobile tariffs hike   

The Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz)
has approved an upward 95,39 percent voice, data and SMS tariff adjustment
for both mobile and fixed network operators as previous tariffs were ravaged
by inflationary pressures. According to Potraz, in a circular to operators,
previous tariffs that were set in August 2019 have been rendered
"unsustainable" as the operating environment has further deteriorated due to
inflationary pressures. Inflation pressures were elevated in the first half
of the year reaching 175,66 percent (year-on-year) and 39,3 percent
(month-on-month) in June 2019.   <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Ethanol storage tanks 70pc complete: NOIC   

The construction of two ethanol storage tanks with a capacity of 6 million
litres at the Mabvuku Depot in Harare is now 70 percent complete, said the
National Oil Infrastructure Company of Zimbabwe (NOIC). NOIC expects the
project to be completed by the end of December this year. NOIC said the fuel
storage framework, which comes as Government presses ahead with ethanol
blending to reduce the cost of petroleum imports amid worsening foreign
currency shortages, will be completed at a cost of US$6 million.
<http://www.bulls.co.zw/> Read more >

New $5 notes, $2 coins to stop cash barons   

New $5 notes and $2 coins will be in circulation within a fortnight to ease
cash shortages that have resulted  in cash barons charging premiums of up to
60 percent and the unscrupulous breaking of the law with two-tier pricing
for digital money and cash. This was announced by Reserve Bank of Zimbabwe
(RBZ) Governor Dr John Mangudya yesterday. The new notes and coins will not
be inflationary as RTGS dollars will be removed from circulation as cash is
issued. <http://www.bulls.co.zw/> Read more >

Gold target now beyond reach - Government   

IT has become almost impossible for gold deliveries to Fidelity Printers and
Refiners to reach the targeted 40 tonnes, Mines and Mining Development
Deputy Minister, Polite Kambamura, has said. Although Government had set an
ambitious target of 40 tonnes for the year 2019 following an overwhelming
33,2 tonnes attained last year, production challenges have negatively
affected output in the course of the year.  <http://www.bulls.co.zw/> Read
more >

Choppies plans to exit SA, Kenya markets Regional expansion drive collapses

TROUBLED Botswana-based retail group, Choppies, is set to pull out of South
Africa and Kenya, two of the region's largest markets. Its ambitions to
become one of the biggest food retailers in sub-Saharan African markets are
fading as it plans to exit two key markets in Africa. The retailer, which
has a primary listing on the Botswana Stock Exchange and a secondary listing
on the JSE, was established in 1986 with a single store called Wayside
Supermarket in Lobatse, Botswana. It now has more than 200 stores in SA,
Botswana, Kenya, Tanzania, Zambia, Zimbabwe and Mozambique.
<http://www.bulls.co.zw/> Read more >

Fuel prices up 12%: Zera   

THE Zimbabwe Energy Regulatory Authority (Zera) yesterday increased the
price of fuel by 12 percent, after keeping the price unchanged for previous
two consecutive weeks. The temporary reprieve had come as a relief to
motorists and consumers who had become used to weekly price hikes since the
once-a-week reviews were introduced over two months ago. The authority said
the price of petrol, effective October 28, would be $16.75 per litre from
$14.97, while diesel was up by $1.83 to $17.47 per litre.
<http://www.bulls.co.zw/> Read more >

Zimbabwe imports 1,5 million litres of wine   

ZIMBABWE has imported more than 1,5 million litres of different kinds of
wines from South Africa since the start of the year as the country is fast
growing into a new market for the beverage. Wine tourism is fast emerging as
a pull factor in many destinations and key tourism markets have identified
food and wine as deciding factors in picking a holiday destination.
<http://www.bulls.co.zw/> Read more >

Blanket Mine invites tenders for solar project   

CALEDONIA Mining Corporation has moved to implement its proposed 20MW solar
project at Blanket Mine in Gwanda and has invited applications from
companies interested in the project. The gold mining firm plans to install a
solar power plant to reduce dependence on the national grid as well as
reduce operational costs. In a public notice yesterday, the mining group,
which has a 49 percent controlling interest at Blanket Mine, said interested
companies should submit their applications before 8 November 2019.
<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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Bulls n Bears 

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