Bulls n Bears Investors Notebook Issue 477: 06 April 2020

Mon Apr 6 10:31:16 CAT 2020

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Bulls n Bears Investors Notebook Issue 477: 06 April 2020

 <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

Forex insurance policies remain illegal - IPEC   

THE greenlight to use free funds in conducting domestic transactions should
not be misconstrued as authorisation to issue foreign currency denominated
insurance policies, the Insurance and Pensions Commission (IPEC) has said.
As part of measures to mitigate financial vulnerabilities caused by the
novel coronavirus (commonly referred to as Covid-19), the Government
recently issued Statutory Instrument 85 of 2020 to facilitate payment for
goods and services chargeable in Zimbabwe dollars, in foreign currency using
free funds at the prevailing rate on the date of payment.
<http://www.bulls.co.zw/> Read more >

Winter wheat farmers seek Govt support   

WITH preparations for the upcoming winter wheat cropping season underway,
farmers have said they are looking for input support from Government so as
to ensure a good harvest. The winter wheat season starts in earnest at the
end of April yearly and farmers have already started working on the land,
Zimbabwe Farmers' Union (ZFU) executive director, Mr Paul Zakariya, has
said. Government has this year targeted to put 80 000 hectares under winter
wheat expected to yield about 400 000 tonnes.  <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

ZimHosiery increases capacity utilisation to 70 percent   

BULAWAYO-based textile firm, Zimbabwe Hosiery (ZimHosiery), says it has
adopted a business strategy anchored on utilisation of more operational
capacity as a cost-cutting measure. Speaking by telephone last Friday, the
company's production manager Mr Stephen Phiri said the business strategy has
seen his organisation increasing capacity utilisation to 70 percent from 60
percent last year. "It's a simple business strategy that we have adopted
where we have made a deliberate decision to utilise more of our operational
capacity to reduce costs.  <http://www.bulls.co.zw/> Read more >

Gwanda shops suffer drop in sales   

RETAIL shops in Gwanda have recorded a drop in sales due to reduced business
hours under the prevailing lockdown. The country is going through a 21-day
lockdown starting last Monday following a Government directive for people to
stay in their homes to mitigate the spread of the deadly Covid-19 pandemic.
As a result some shops in the town close at 1PM while others close at 2PM. A
manager at a local supermarket who preferred anonymity said fewer customers
were visiting their shop ever since the lockdown started last week,
resulting in a drastic drop in sales. He said there was high activity on
days when they were selling mealie meal.  <http://www.bulls.co.zw/> Read
more >

1 200 Bulawayo SMEs apply for cushioning package   

A TOTAL of 1 200 Small-to-Medium Enterprises (SMEs) in Bulawayo have
submitted applications to benefit from a package from Government to cushion
them from the adverse impact of the 21-day national lockdown period.
Starting last Monday, the country went on a 21-day national lockdown as part
of a cocktail of emergency initiatives to fight the spread of the global
health pandemic, Covid-19, which has killed close to 50 000 people worldwide
since its outbreak in December last year. The diease, which was first
detected in China has threatened the socio-economic environment globally.
<http://www.bulls.co.zw/> Read more >

 <http://www.nedbank.co.zw/> 

Imports surge before lockdown   

THE Zimbabwe Revenue Authority (Zimra) says it recorded a seven percent
increase in imports coming into the country a week prior to the closing down
of borders to non-essential traffic and the implementation of a full
lockdown to contain the spread of Covid-19 in the country. Zimra
spokesperson, Mr Francis Chimanda, said in the week between 16 and 22 March
they cleared 2 505 incoming commercial trucks against 2 683 vehicles
processed during the period 23-29 March. "There was an increase of 178
trucks compared to the previous week giving a seven percent increase in
traffic," he said.  <http://www.bulls.co.zw/> Read more >

Covid-19 pandemic is no time for fiscal distancing   

THE African Development Bank estimates that Covid-19 could cost Africa a
Gross Domestic Product loss of between US$22.1 billion and US$88.3 billion
in the worst case scenario. These are very difficult days, as the world
faces one of its worst challenges ever: the novel coronavirus (Covid-19)
pandemic. And it seems almost no nation is spared. As infection rates rise,
so does panic across financial markets, as economies drastically slow down
and supply chains are severely disrupted. Extraordinary times call for
extraordinary measures. As such, it can no longer be business as usual.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Bank clients in quandary   

ZIMBABWEANS yesterday appealed for the reopening of banks at least once a
week during the lockdown period for them to access their money in foreign
currency accounts and other services. All banks and micro-finance
institutions are closed, with clients being told to transact using online
and digital money platforms which foreign currency account holders have no
access to. The institutions have done this to reduce the spread of Covid-19.
Those intending to receive money from international money transfer agencies
such as MoneyGram, World Remit and Western Union have also been seriously
affected.  <http://www.bulls.co.zw/> Read more >

State firms privatisation drags   

THE privatisation of subsidiaries and associate companies of state-owned
Industrial Development Corporation of Zimbabwe (IDCZ) is moving at a snail's
pace as most offers are well below market value, an official has said. In
some instances, investors that would have been short-listed are failing to
provide the proof of funding to inject as agreed capital, general manager Mr
Ben Kumalo told  Herald Business & Finance last week Thursday. In 2018,
Government approved restructuring strategies of IDCZ subsidiaries and
associate companies through the State Enterprises and Parastatal Reform
Framework.  <http://www.bulls.co.zw/> Read more >

Stocks falter in March   

Stocks weakened 3,21 percent in the month of March as the economy felt the
effects of the coronavirus, closing the month with total market value of
$58,56 billion. World over, the spread of the Covid-19 has had negative
effects resulting in global markets sliding with investors losing billions
of dollars in investments.  The pandemic was first detected in China in
2019, before spreading crossing the globe with a million cases confirmed and
thousands of deaths recorded.  <http://www.bulls.co.zw/> Read more >

Exporters should focus on production: ZimTrade   

ZimTrade has called on horticulture exporters to increase the quality and
quantity of their produce to capitalise on the higher demand that will come
after Covid-19 is overcome in  Europe. Already Netherlands - which is the
biggest destination for Zimbabwean horticultural exports - has recorded
noticeable increase in demand of fruits. Fresh food markets in France have
now closed as well, which is an additional blow to the agricultural
industry, which already was severely affected by the closing of restaurants
and hotels.  <http://www.bulls.co.zw/> Read more >

Hwange Power Station expansion on schedule   

Work on the US$1,4 billion Hwange Power Station expansion to add 600MW to
the national grid is now almost 40 percent complete and on course for coming
on stream in October next year as planned. Project manager Engineer Forbes
Chanakira recently said: "As we speak, we are at around 39,4 percent and we
envisage that in the coming few weeks right up to the end of this year, we
will see the project getting to around 60 to 66 percent." The project
entails civil, mechanical and electrical works.  <http://www.bulls.co.zw/>
Read more >

Petrol price up by $3   

The price of petrol has gone up by $3,07c to $21,77c while diesel is now
$21,52 per litre. Before the price adjustment took effect from yesterday,
diesel was retailing at $18,66 and petrol at $18,70. The Zimbabwe Energy
Regulatory Authority (Zera) said operators may sell at prices below the cap
depending on their trading advantages. A Twitter user Mr Prosper Mwedzi
queried why prices were going up when the "oil demand and prices globally
have gone down". "I know it may be procured in advance but surely the fact
that it's at the lowest ever should translate to consumers," said Mr Mwedzi.
But a Twitter user said Zimbabwe's fuel was the "cheapest in the region, if
not world".  <http://www.bulls.co.zw/> Read more >

Midlands sets target of 2 600ha for winter wheat   

Midlands Province is targeting to put more than 2 600 hectares of land under
winter wheat this year and has started the verification process of potential
farmers. Last year, about 2 300 hectares were under winter wheat through
Command Agriculture and private sector initiatives. Crop and livestock
production provincial officer Mrs Medlinah Magwenzi said they were expecting
an increase in the number of winter wheat farmers this year.
<http://www.bulls.co.zw/> Read more >

INVESTORS DIARY 2020

Company

Event

Venue

Date & Time

REST OF AFRICA

Counters Trading Under Cautionary

 Bindura Nickel Corp

CBZH

Dawn

Delta

Falgold

Fidelity

MedTech

Meikles

Turnall

Unifreight

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!

Bulls n Bears 

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