Bulls n Bears Investors Notebook Issue 482: 16 April 2020

Thu Apr 16 10:10:33 CAT 2020

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Bulls n Bears Investors Notebook Issue 482: 16 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

'Maximise on Covid-19, create resilient economies'   

AFRICA should turn the current Covid-19 into an opportunity to create
economies that are resilient to external shocks, according to a latest
report by the African Union (AU) on the impact of the pandemic on the
continent. While African countries are relatively less affected compared to
other regions for now, the spill over effects from global developments or
broken down supply chains may lead to faltering economic activity in the
continent.  <http://www.bulls.co.zw/> Read more >

Understanding youth employment credit

A tax credit is a type of tax incentive that reduces the tax liability of
qualifying taxpayers as it is deducted from the income tax with which such a
person is chargeable. Tax credits are provided for in the Finance Act
[Chapter 23:04] under Sections 5, 10, 11, 12 and 13. The common types of
credits currently available for individual taxpayers are the elderly credit,
blind person credit, medical expenses credit and the mentally or physically
disabled person credit. Finance Act (No.3), 2019 introduced an additional
tax credit under Section 13A also known as the Youth Employment Tax
Incentive (YETI). This incentive is aimed at stimulating employment of young
people in Zimbabwe and it shall be enjoyed by employers.
<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

Coronavirus delays diamond project

Diversified mining firm, Vast Resources Plc, will have to wait a little
longer for official confirmation by the Government concerning the community
joint venture agreement at the Chiadzwa diamond project. Initially,
communication was expected at the end of March 2020. But Zimbabwe, like most
countries across the globe has been hit by the coronavirus pandemic, with 18
cases having been confirmed to date, while three deaths have been reported.
The pandemic has disrupted both economic activity and Government business.
<http://www.bulls.co.zw/> Read more >

Debt restructuring talks underway: Mthuli   

Discussions involving Zimbabwe and international financial institutions and
countries it owes money are ongoing as part of efforts to have the over US$8
billion external debt restructured, Finance and Economic Development
Minister Professor Mthuli Ncube has said. Prof Ncube told The Herald Finance
& Business on Tuesday that an update on progress will be issued. "Zimbabwe
has submitted its own proposals for a debt restructuring process to those
institutions and countries that it owes money (and) the discussions are
ongoing . . . " he said. As at September 30 last year, Zimbabwe's external
debt stood at US$8 billion. <http://www.bulls.co.zw/> Read more >

Zimplow after tax profit jumps 199pc   

Listed agro-industrial firm Zimplow Holdings posted a healthy set of numbers
for the year to December 31, 2019, with profit after tax rising by 199
percent to $100 million on an inflation-adjusted basis. Group revenues rose
85 percent to $504 million during the year, while operating profit was up
158 percent to $122 million (calculated on an inflation-adjusted basis).
Inflationary pressures during the period under review pushed administration
expenses to $75,9 million from $45,9 million in the prior year.
<http://www.bulls.co.zw/> Read more >

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

RioZim loses court case   

RIOZIM Limited's application seeking a contempt of court order against a
mining company, Rusununguko Nkululeko, for allegedly defying a judgment by
continuing to carry out mining activities on the international
conglomerate's chrome ore claims in Darwendale has been dismissed for lack
of merit. The gold mining conglomerate also wanted Rusununguko Nkululeko's
two directors, Mr Mohammed Tariq Aziz and his Dutch counterpart Mr Aneeqa
Zubair  - listed as second and third respondents, to be imprisoned for six
months. High Court Judge, Justice Happias Zhou ruled in favour of the two
directors. He found that there were disputes of facts in the matter which
were essential to the determination of the application which could not be
resolved on the papers.  <http://www.bulls.co.zw/> Read more >

Zim's PDL rises sharply - Zimstat   

A family of five required at least $5,293 in February this year to meet its
basic needs for it not to be  deemed poor, a 17 percent jump from $4,492 the
previous month, latest  data shows. The jump reflects a continued increase
in the prices of goods and  services as inflationary pressures persist in
the economy. It also reflects volatility in the exchange rates. "The Food
Poverty Line for one person in February 2020 was $419 while  that for an
average household of five persons stood at $2,097," the  Zimbabwe National
Statistics Agency (Zimstat) said in a tweet. <http://www.bulls.co.zw/> Read
more >

 <mailto:info at bulls.co.zw> 

Covid-19 to clog Zimbabwe's forex inflows   

Zimbabwe has over the years found it difficult to boost foreign currency
inflows due to numerous factors - not least the economic sanctions and an
underperforming industry -  but the situation is likely to worsen due to the
impact of the coronavirus (Covid-19) pandemic. The global health pandemic
has disrupted global markets, but also global trade in particular, which has
affected the country's capacity to export. In sense it has also affected the
country's capacity to import, which may help to contain the almost
insatiable desire for (sometimes) unnecessary foreign products. However, the
damage clearly far outweighs the 'gains'.  <http://www.bulls.co.zw/> Read
more >

Zim has enough water for winter irrigation

The Zimbabwe National Water  Authority (Zinwa) said on Monday the country
had enough water to meet  winter farming irrigation needs. The country has
in the past two seasons suffered droughts which  affected  both crop
harvests and dam water levels. As a result of the droughts, over seven
million people across the  country  require food assistance. But Zinwa said
current water levels in dams could sustain farmers' winter irrigation needs,
particularly for wheat.. <http://www.bulls.co.zw/> Read more >

Second batch of John Deere tractors delivered   

The second batch of tractors and other equipment worth US$3 million was
delivered yesterday under a US$50 million deal between the Government and
two private companies, Afgri Zimbabwe and John Deere International. The
delivery comprised 60 tractors and eight combine harvesters which were taken
to the Ministry of Lands, Agriculture, Water and Rural Resettlement's
Institute of Agriculture Engineering whose responsibility will be to train
farmers on the use and maintenance of the equipment. This brings to 90, the
number of tractors that have been delivered after the first batch of 30 that
was brought into the country over the weekend. The remaining 450 tractors,
32 combine harvesters and tillage equipment are expected later.
<http://www.bulls.co.zw/> Read more >

Cash transfers begin   

Government has started disbursing money to vulnerable groups that were
affected by the 21-day lockdown, with the first beneficiaries in Harare and
Bulawayo receiving their payouts yesterday. The Ministry of Women's Affairs
and Small and Medium Enterprise Development has availed a database of 129
000 SMEs to be considered for the Government bailout. This was said by
Public Service, Labour and Social Welfare Minister Professor Paul Mavima
during yesterday's post Cabinet briefing. "We have other databases of those
who are marginally food insecure with almost 3,5 million people, but we have
to look at the neediest out of those so that we can reach the one million
whom we have budgeted for and the disbursement are already underway," he
said. <http://www.bulls.co.zw/> Read more >

False start to zonal deliveries   

THE distribution of maize-meal to some shops in areas such as Mabvuku,
Tafara and Epworth in Harare, which was supposed to start yesterday, has
been postponed due to a number of challenges such as delays in making
payments by retailers and the expiry of some shop licences, among others.
Some operating licences allegedly expired on March 31 and have not been
renewed due to the lockdown. Grain Millers Association of Zimbabwe (GMAZ)
chairperson Mr Tafadzwa Musarara said they were ready to deliver 600 tonnes
of subsidised maize-meal in Harare.  <http://www.bulls.co.zw/> Read more >

Govt to regulate imports of Covid-19 materials   

Two statutory instruments are imminent to deal with subsidised basic goods
and to regulate and control the importation of Covid-19 related materials,
as part of a wide range of measures approved by Cabinet yesterday to combat
the pandemic. The reproduction and distribution of information, education
and communication materials in 16 indigenous languages, inclusive of sign
language and Braille, starts soon, while provinces have been given testing
targets to ensure all designated groups are tested. A committee of health
experts will be established to research Covid-19 and other health-related
matters, find home-grown solutions, and advise the Government on technical
matters.  <http://www.bulls.co.zw/> Read more >

'Wheat targets to boost competition'   

The target for winter wheat production set by Vice President Constantino
Chiwenga will bring the best out of each province, the Minister of State for
Mashonaland West Provincial Affairs Mary Mliswa-Chikoka has said.Mashonaland
West Province intends to plant over 40 000 hectares to surpass its target.
VP Chiwenga set different targets for eight provinces for this year's winter
wheat production with Mashonaland West Province expected to plant 35 000 and
produce 182 000 tonnes. <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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