Bulls n Bears Investors Notebook Issue 338: 24 September 2019

Tue Sep 24 03:21:12 CAT 2019

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Bulls n Bears Investors Notebook Issue 338: 24 September 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

Zim dollar devaluation exaggerated: Real exchange rate should be US$1:
ZWL$5.6 - Minister

THE appropriate exchange rate between the Zimbabwean dollar and the United
States dollar should hover around US$1:ZWL$5,6 based on "founded
quantitative estimates", Finance and Economic Development Minister,
Professor Mthuli Ncube, has said.  While acknowledging the prevailing
speculation and attendant exchange rate distortions in the market, Prof
Ncube, in a public notice on exchange rate determination, suggested that the
devaluation of the local currency was being exaggerated by unscrupulous
elements. <http://www.bulls.co.zw/> Read more >

Consumers demand price cuts

CONSUMERS have called on the business community to reduce prices in line
with the decline in exchange rates and implored Government to create a
framework that guides pricing based on productive fundamentals. The call
follows an outcry over the latest wave of steep price increases in response
to last week's foreign currency exchange rate spike, which breached the
US$1:ZWL$20 mark.  <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

NRZ says happy with DIDG deal

THE National Railways of Zimbabwe (NRZ) has expressed satisfaction with
progress made towards concluding the US$400 million recapitalisation deal
with the Diaspora Infrastructure Development Group (DIDG)/Transet
Consortium. Transport and Infrastructural Development Minister, Joel Biggie
Matiza, is understood to have submitted to Treasury the recommendations by
NRZ following a recent board meeting on the matter.
<http://www.bulls.co.zw/> Read more >

Premier seeks EPO for Zulu lithium project

PREMIER African Minerals will soon meet the Mining Affairs Board over the
company's application for an Exclusive Prospecting Order (EPO) at its Zulu
Lithium and Tantalite project in Matabeleland South province. The
Zimbabwe-focused and diversified mining group, which recently applied for
the EPO at Zulu, also announced in July this year that it was waiting for
Zesa to hook its RHA Tungsten Mine up to the national grid to enable
production to get underway within four months. <http://www.bulls.co.zw/>
Read more >

China pledges more financial support

CHina has pledged to assist Zimbabwe with developmental aid and foreign
direct funding increasing from US$2,1 billion it extended to the country
last year. Speaking during a Confucius Institute "Know China" conference at
the University of Zimbabwe yesterday China's Deputy Ambassador to Zimbabwe
Mr Zhao Baogang said apart from the grant and FDI that Zimbabwe benefited in
2018 alone, China remains very much committed to avail more funding.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Gold weighs on June exports   

ZIMBABWE's exports fell 32 percent in June this year weighed down by reduced
shipments of major mineral exports, latest statistics from the Reserve Bank
of Zimbabwe (RBZ) show. The drop in exports came against marginal growth in
imports, resulting in the widening of the trade deficit from US$93,6 million
in May 2019 to US$217,4 million in June 2019. <http://www.bulls.co.zw/> Read
more >

Forex speculators hit hard   

Currency speculators who, last week, disposed of their Zimbabwean dollars
for the US dollar at very high exchange rates with the expectation that the
local currency will plunge further, are counting their losses as measures by
monetary authorities have ensured sanity in the market. The Zimbabwe dollar
to the US$ rate last week Thursday hit an all-time low as the green back
fetched $25 for US$1 with speculation rife that it was poised to plunge even
further. <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

ZSE rallies again   

Proplastics and Willdale led a stock market rally yesterday that saw the
bourse close in the positive. The All Share Index jumped 10,66 percent to
217,25 points while the ZSE Top 10 paced the fastest with a 13,49 percent
gain to 206,98 points. At 724,67 points, the Industrials was 10,66 percent
above prior session. The Minings ticked 6,05 percent to 278,38 points.
<http://www.bulls.co.zw/> Read more >

New CEO for PPC   

Zimbabwe Stock Exchange listed cement producer, PPC, has appointed Roland
van Wijnen, a former Lafarge Holcim executive as its new CEO. Van Wijnen,
originally from Netherlands will be replacing Johan Claassen with effect
from October 1, 2019. The search for a CEO to succeed Claassen began in
November 2018 when he announced he was taking early retirement. Van Wijnen
was previously CEO of some of Holcim's Eastern European businesses between
2005 and 2010, and also acted as CEO of Holcim's global trading business
before the Lafarge Holcim merger. He has worked for Lafarge Holcim for 17
years, and now joins PPC with a four-year contract.
<http://www.bulls.co.zw/> Read more >

Zimra lifestyle audit: 36 suspended   

THE Zimbabwe Revenue Authority (Zimra) suspended at least 36 officers
implicated in lifestyle audits, while processes are underway at the High
Court to forfeit the ill-gotten wealth. Zimra Commissioner-General Faith
Mazani said the taxman was working with the Zimbabwe Anti-Corruption
Commission (ZACC) who are handling cases where internal investigations would
have pointed to corruption. <http://www.bulls.co.zw/> Read more >

Mohadi to open Vic Falls Agric Show  

ACTING President Kembo Mohadi is set to officiate at the 2019 Victoria Falls
Agricultural Show, which starts here on Thursday. Organisers of the
exhibition target to go international by 2021, riding on the marketability
of Victoria Falls as a prime resort destination. The show draws exhibitors
from across the country. <http://www.bulls.co.zw/> Read more >

Axed Moyo hits procedural snag   

Peter Moyo's bid to censure the conduct of Old Mutual's 14-member board for
his tumultuous axing as the insurer's CEO has hit a procedural snag. In a
small victory for Moyo yesterday, the high court in Johannesburg has ordered
that the second letter terminating his employment contract, which was issued
by Old Mutual on August 21, can be admitted as evidence in his application
to charge the insurer's board for contempt of court.
<http://www.bulls.co.zw/> Read more >

Attributes of a desirable deposit insurance system   

The advances in financial liberalisation and globalisation demand an
appropriate deposit protection scheme that takes into account the new
economic and financial environment, more so, since it will become
increasingly more difficult for the government to operate an implicit
deposit protection scheme (DIS) in the changing environment.
<http://www.bulls.co.zw/> Read more >

Volatile Zim Dollar Forces Businesses To Re-dollarise

Several small to medium scale enterprises (SMS) have reportedly
re-dollarised due to the volatility of the Zimbabwe dollar. The local
currency jumped from USD1: ZWL14 to USD1:24 in a matter of days. This has
prompted most of the SMEs to revert to the stable US dollar even though the
move is illegal. A seller of cellphone accessories in Harare told 263Chat
that the oscillating Zimbabwe dollar may force them out of business. He
said: <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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