Bulls n Bears Investors Notebook Issue 483: 17 April 2020

Fri Apr 24 11:47:06 CAT 2020

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Bulls n Bears Investors Notebook Issue 483: 17 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

BAZ mobilises US$10m for Covid-19 fight   

THE Bankers' Association of Zimbabwe  (BAZ) has announced plans to mobilise
US$10 million through its members as part of corporates' further
contribution to the fight against the deadly Covid-19 global health
pandemic. Covid-19 was declared by World Health Organisation (WHO) as a
global health emergency, which also saw Zimbabwe decree the pandemic a
national health emergency to activate all systems against its fight. The
novel viral disease, first detected in the Chinese city of Wuhan, has killed
three and infected over 20 people in the country. <http://www.bulls.co.zw/>
Read more >

Lockdown to wipe out 25% of Zimbabwe jobs

ZIMBABWE should brace for massive economic dislocation as business leaders
project that 25% of formal and 75% of informal jobs in the country will be
lost as a result of Covid-19 amid calls by industrialists to ease the
lockdown measures to avert the total collapse of an already fragile economy.
The public health emergency has paralysed the global economy and prompted
the government to implement a 21-day national lockdown which began on March
30. President Emmerson Mnangagwa said cabinet would convene next week to
decide whether to extend the lockdown or not. Zimbabwe had 23 confirmed
cases of Covid-19 infection, with three deaths. <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

'Recovering looted offshore funds taxing'

RECOVERING billions of dollars spirited away to foreign jurisdictions by
corrupt syndicates will be a lengthy and painstaking process, although
anti-graft authorities are determined to recover the loot, the Zimbabwe
Anti-Corruption Commission (Zacc) says. Zimbabwe, battling to secure fresh
lines of credit support to revive its floundering economy, is losing close
to US$2 billion annually due to corruption. According to Zacc, the bulk of
the loot is stashed in foreign jurisdictions that include the United
Kingdom, Virgin Islands and South Africa. Zacc chairperson Justice Loice
Matanda Moyo told the Zimbabwe Independent that recovering the staggering
amounts of money concealed in foreign territories and dismantling graft
cartels will take time. <http://www.bulls.co.zw/> Read more >

Zimbabwe is on lockdown, but money-changers are still busy

Harare, Zimbabwe - In the densely-packed Harare suburb of Kambuzuma, in the
midst of a nationwide lockdown, 25-year-old Philip Mundozo is hard at work,
servicing customers who want to buy and sell the currency of choice in
Zimbabwe - United States dollars. "I cannot go to town, but that has not
stopped me from doing my work. Customers call me and come to my house to
trade," Mundozo told Al Jazeera by phone. Before President Emmerson
Mnangagwa ordered a 21-day lockdown in late March to curb the spread of
COVID-19, Mundozo's place of business was a bus terminal - popularly known
as Copa Cabana - in the central business district in Harare. But COVID-19
containment measures have only slightly dented demand for money-changing.
<http://www.bulls.co.zw/> Read more >

RBZ suspends senior economist over leaked document   

THE Reserve Bank of Zimbabwe (RBZ) has suspended its senior economist, Mr
Philton Makena, pending disciplinary action for leaking a "de-dollarisation
roadmap" document before its approval by authorities. The detailed document,
which had gone viral on social media platforms, outlines key macro-economic
policy measures to support the five year de-dollarisation strategy. In a
statement yesterday afternoon, RBZ Governor Dr John Mangudya, advised the
public to ignore the leaked document and apologised for the anxiety and
inconvenience it may have caused on the market. <http://www.bulls.co.zw/>
Read more >

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

Govt extends Air Zimbabwe duty rebate

GOVERNMENT has extended duty-free importation of Air Zimbabwe's engine
spares and components in a desperate effort to revive the flagship carrier.
The debt-ridden State-owned airline was placed under the administration of
Grant Thornton with effect from October 4, 2018 in terms of the
Reconstruction of State-Indebted Insolvent Companies Act. Through an
extra-ordinary Statutory Instrument (SI) 189 of 2020 dated April 14, 2020,
Finance minister Mthuli Ncube said the duty rebate was covering the period
from January 2020 to December 2021.  <http://www.bulls.co.zw/> Read more >

TIMB consults ahead of tobacco sales   

THE Tobacco Industry and Marketing Board (TIMB) says consultations are still
ongoing to ensure smooth business when the selling season opens next week
amid the global pandemic of Covid-19. Speaking by telephone from Harare
yesterday, TIMB chief executive officer Dr Andrew Matibiri said
consultations on how business would be conducted when the selling season
opens next Wednesday in light of Covid-19 were still in progress and
Government will soon be issuing a statement in that regard. "It is true that
this year's tobacco selling season will be opening next week. Stakeholders
in the tobacco sector are still in consultations as to how business will be
conducted at the auction floors in light of Covid-19.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Zim imports 245 pig breeding stock to improve pork production   

THE Value Chain Alliance for Livestock Upgrading and Empowerment (VALUE) has
imported 245 high-yielding pig breeding stock from South Africa to improve
pork production in the country. VALUE said the breeding stock was delivered
in the country at the beginning of the month and is currently under
quarantine for 21 days at the Pig Industry Board (PIB). "VALUE has completed
the importation of 245 pig breeding stock consisting grand parent and parent
stock of Duroc, Landrace and Largewhite breeds," it said.
<http://www.bulls.co.zw/> Read more >

Holiday Inn donates towards Covid-19   

HOLIDAY Inn hotel has donated sanitisers, linen, bath mats and towels worth
thousands of dollars to the "I Am Bulawayo Fighting Covid Trust" (IAFCT) as
part of its social responsibility programme towards fighting the spread of
Covid-19. The intervention comes as Bulawayo has recorded 10 positive cases
out of 23 countrywide as of yesterday. Handing over the donation to the
trust yesterday at Holiday Inn Bulawayo, the company's general manager Mrs
Amanda Mathema said the donation will assiat in the opening of Ekusileni
Hospital. <http://www.bulls.co.zw/> Read more >

CAAZ intensifies online marketing   

THE Civil Aviation Authority of Zimbabwe (CAAZ) has intensified online
marketing of the country's aviation and leisure facilities in an effort to
help the country's tourism sector find its feet post-Covid-19. While
airports across the country remain open to receive cargo, passenger airlines
suspended service last month as a result of the global pandemic as
travellers cancelled or postponed trips. The suspension of flights naturally
affected the tourism industry as hotels received no tourists, leaving
resorts deserted and with no business. CAAZ has been posting on social media
platform Twitter as part of its marketing strategy meant to keep the world
activated.  <http://www.bulls.co.zw/> Read more >

Mash West targets 35k hectares of wheat   

LANDS, Agriculture, Water and Rural Resettlement Minister Perrance Shiri
yesterday launched the Mashonaland West Province 2020 winter planting
programme with a target of 35 000 hectares at Combe Farm in Zvimba. Minister
Shiri said farmers must gear up production as the nation moved to block
foreign currency leakages through the imports of wheat and other grains. "As
we move forward to transform our economy through the agriculture sector,
this year's national target of wheat production seeks to address unnecessary
importation of grains that chew into the foreign currency reserves," he
said. <http://www.bulls.co.zw/> Read more >

World economy slumps   

The world economy already faces an economic downturn worse than the Great
Depression. But this could be followed by another "possibly much worse
downturn", according to the Economist Intelligence Unit (EIU). World
governments are giving trillions of dollars in stimulus packages to help
prop up their economies. Sovereign debts that they are racking up may push
the global economy into a second recession, the EIU warns.
<http://www.bulls.co.zw/> Read more >

ZSE investors in $1 billion loss   

Investors on the Zimbabwe Stock Exchange (ZSE) lost a cumulative $1 billion
in the week to Wednesday as stocks traded mixed amid uncertainties brought
about by the Covid-19 pandemic. World over, investors have incurred huge
losses following the outbreak of the Covid-19 pandemic which has caused
severe disturbances to economic activity. The World Bank already sees the
sub-Saharan Africa region's economic growth fall sharply from 2,4 percent in
2019 to between -2,1 percent and -5,1 percent in 2020.
<http://www.bulls.co.zw/> Read more >

BAZ mobilises US$10m for Covid-19 fight   

THE Bankers' Association of Zimbabwe  (BAZ) has announced plans to mobilise
US$10 million through its members as part of corporates' further
contribution to the fight against the deadly Covid-19 global health
pandemic. Covid-19 was declared by World Health Organisation (WHO) as a
global health emergency, which also saw Zimbabwe decree the pandemic a
national health emergency to activate all systems against its fight. The
novel viral disease, first detected in the Chinese city of Wuhan, has killed
three and infected over 20 people in the country. <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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