Bulls n Bears Investors Notebook Issue 339: 25 September 2019

Wed Sep 25 03:15:18 CAT 2019

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Bulls n Bears Investors Notebook Issue 339: 25 September 2019

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Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

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

Zim to auction 500 000 carats   

THE Minerals Marketing Corporation of Zimbabwe (MMCZ) says it will conduct
another diamond auction before the end of the year targeting to sell between
400 000 and 500 000 carats. A fortnight ago, MMCZ conducted its third
auction this year, which saw 316 000 carats being auctioned. The value of
the diamonds sold under the third auction is yet to be established as
reconciliation is still in progress.. <http://www.bulls.co.zw/> Read more >

Employers' indaba kicks off . . . Inflation, TNF under spotlight   

THE 37th Employers' Confederation of Zimbabwe (Emcoz) annual congress begins
in Bulawayo today with delegates expected to deliberate on a range of issues
including the impact of the re-introduction of the local currency on
business operations. Government outlawed the use of multicurrency system on
all forms of local transactions in June this year as part of efforts to
bring sanity in the economy in line with the Transitional Stabilisation
Programme. <http://www.bulls.co.zw/> Read more >

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

Caledonia eyes 75 000 ounces gold output   

CALEDONIA Mining Corporation, which owns Blanket Mine in Matabeleland South
province, targets to increase gold output to 75 000 ounces in 2021 as the
mine has begun focusing on increasing output. Last year, Blanket Mine
produced 54 511oz of the yellow metal and this year, the gold miner targets
production ranging between 50 000 and 53 000oz. <http://www.bulls.co.zw/>
Read more >

Africa second fastest growing tourism region - report   

TRAVEL and tourism remained one of the key growth drivers of Africa's
economy, contributing US$194,2 billion, which is 8,5 percent of the
continent's Gross Domestic Product (GDP), according to the 2019 Jumia
Hospitality Report. The growth record placed the continent as the
second-fastest growing tourism region in the world, with a growth rate of
5,6 percent after Asia Pacific and against a 3,9 percent global average
growth rate. <http://www.bulls.co.zw/> Read more >

2% tax escalates BCC operational costs   

THE Bulawayo City Council (BCC) says the introduction of the two percent
transactional tax has become a severe cost burden in its operations given
the volume of transactions made by the local authority towards service
delivery. The Intermediated Money Transfer Tax (IMTT), popularly known as
the two percent tax, was introduced by Treasury late last year and has
become a game changer in terms of boosting Government revenue. Several
capital projects including social spending on key subsidies such as public
transport, are being bankrolled by funding from this revenue stream,
according to Finance Minister, Professor Mthuli Ncube.
<http://www.bulls.co.zw/> Read more >

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ZSE lifts Falgold suspension   

THE Zimbabwe Stock Exchange (ZSE) yesterday lifted the seven-month
suspension in trading of Falcon Gold Zimbabwe (Falgold) shares after the
mining firm finally complied with listing requirements. Falgold had in
February this year applied for a voluntary restriction in trading of its
shares after the firm failed to publish its audited financial statements for
the year ended September 30 on time. <http://www.bulls.co.zw/> Read more >

Call to set up internal audit committee   

GOVERNMENT should urgently establish a specialised internal audit committee
to ensure transparency and independence in the assessment of public
entities' operations. The proposal was one of the key resolutions from the
recent internal auditors' conference held in Victoria Falls. During
discussions participants said accountability and openness were critical in
transforming Zimbabwe towards an upper middle income economy by 2030.
<http://www.bulls.co.zw/> Read more >

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Poverty datum line jumps 13%: ZimStat   

ZIMBABWE'S poverty datum line (PDL) was $1 827 in August, having jumped 13
percent the previous month as the cost of living continues to rise, latest
data shows. According to the Zimbabwe National Statistics Agency (ZimStat),
the PDL measures the basic needs for an average family of five. Data that
Zimstat released yesterday shows that an individual required at least
$364.40 up from $323.50 per month to access minimum provisions.
<http://www.bulls.co.zw/> Read more >

PPC appoints new CEO   

ZIMBABWE Stock Exchange-listed cement producer, PPC, has appointed Mr Roland
van Wijnen, a former Lafarge Holcim executive, as its new chief executive
officer (CEO). Mr Van Wijnen, originally from the 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.. <http://www.bulls.co.zw/> Read more >

No livestock exhibition at Masvingo agric show   

THERE will be no cattle exhibition at the 2019 Masvingo Provincial
Agricultural Show, which begins here tomorrow, due to incidents of the foot
and mouth disease. Masvingo Show Society president, Mr Phillip Mauta, said
the stage was ready for the four-day business fair but stated that the
livestock exhibition was out.. <http://www.bulls.co.zw/> Read more >

President courts health services sector investors   

President Mnangagwa has challenged investors in the health services sector
to come to Zimbabwe, saying Government is determined to collaborate with
them in transforming the country into a provider of modern health services.
He said areas like Victoria Falls were yearning for investment in the health
sector in order to give impetus to the health tourism drive.
<http://www.bulls.co.zw/> Read more >

Old Mutual explains half-year cash outflows   

Old Mutual Zimbabwe Group says it was not involved in buying foreign
currency on the local foreign currency markets, in view of significant cash
outflows that was notable during the half-year to June 30, 2019. During the
period under review, the Zimbabwe authorities banned the use of selected
foreign currencies in domestic transactions, and made the "Zimbabwe dollar"
the sole legal currency for tender, which effectively put paid the
multi-currency system that had been in place since early 2009 through
Statutory Instrument 146 of 2019. <http://www.bulls.co.zw/> Read more >

Econet increases tariffs   

Zimbabwe's largest mobile network operator, Econet, yesterday increased
tariffs for all its data packages. The data and social media price shifts
came after the mobile network operator issued a public notice on Sunday
warning of a surge in the pricing of the commodity. The popular WhatsApp
weekly package, which also has Pinterest and Sasai, last pegged at $4 for
65MB, is now going for $5 translating to a 25 percent increase while $10
will now fetch 140 megabytes of weekly WhatsApp data bundle.
<http://www.bulls.co.zw/> Read more >

Tongaat major shake-up   

Struggling sugar producer and parent company of ZSE listed Hippo Valley and
another sugar producer Triangle Estate, Tongaat Hulett announced a major
board shake-up on Monday evening, switching out four directors and replacing
its current chairperson Bahle Sibisi with Louis von Zeuner. One of the
outgoining directors is Zimbabwean Rachel Kupara. Von Zeuner, an independent
non-executive directer appointed to the group's board in late 2018, will
assume the role of chairman on October 1. <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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