Bulls n Bears Investors Notebook Issue 558: 18 August 2020

Tue Aug 18 10:23:52 CAT 2020

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Bulls n Bears Investors Notebook Issue 558: 18 August 2020

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

Bulls 'n Bears Investors Diary: Today's Events

Lafarge

AGM

virtual

18  August 2020 | 12pm

Quotable Quote:

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

Aussie, Chinese investors keen to fire up Zisco   

There is a renewed interest in the Zimbabwe Iron and Steel Company (Zisco)
from international investors following the collapse of negotiations between
the company and R & F of China late last year. Industry and Commerce
Minister Dr Sekai Nzenza, told The Herald Finance & Business in an interview
yesterday that Zisco had received enquiries from potential investors from
China and Australia. "What is exciting is the level of interest we are
receiving and the revival of Zisco is critical to the National Steel
Strategy that the Government is working on," said Dr Nzenza.
<http://www.bulls.co.zw/> Read more >

Index to gauge level of customer satisfaction   

The Chartered Institute of Customer Management in partnership with the
Contact Centre Association of Zimbabwe, will next week launch the fourth
edition of the Zimbabwe Customer Satisfaction Index (ZimCSI). The launch is
scheduled for August 27, during the Executive Customer Experience Virtual
Symposium. This year's launch will be running under the theme: 'Customer
Experience Mindset In The Midst of Covid-19'.  The index is a national
indicator on how companies are performing in terms of customer satisfaction
at sectoral level and regionally across Africa. The report covers 16 sectors
including hospitality, healthcare, insurance, retail and banks among others.
<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

Foschini, Edcon conclude deal on sale of Jet assets   

The Foschini Group says it has concluded a sale agreement with Edcon for
some of the stores and assets of Jet. The Foschini Group (TFG) has reached
an agreement with Edcon's business rescue practitioners to buy some of its
subsidiary Jet's assets. The fashion retailer first announced over a month
ago that it had made a R480 million offer to buy some 371 "commercially
viable" Jet stores. Edcon, which owns Edgars and Jet Stores, filed for
voluntary business rescue in April after the nationwide lockdown exacerbated
its already dire financial position. In June, its BRPs said the only way to
save the company was through an "accelerated sale" of its divisions.
<http://www.bulls.co.zw/> Read more >

Batoka study on course   

Plans by Zimbabwe and Zambia to jointly develop a 2 400 megawatt (MW) power
plant on the Batoka Gorge along the Zambezi River remain on course and is
progressing well, the Zambezi River Authority (ZRA) has said. ZRA enlisted a
South African firm back in 2014 to undertake an environmental and social
impact assessment (ESIA) study for the project. This comes as ZRA stressed
that Zimbabwe will not need to compensate any individuals in the community
where the hydro power project will be developed as the initiative will not
affect any primary residential structure or social facility.
<http://www.bulls.co.zw/> Read more >

Ministry targets 12 million diamond production   

Zimbabwe is targeting to grow diamond production from 3,5 million to 12
million carats by 2025, Minister of Mines and Mining Development Winston
Chitando has said. Before Zimbabwe attains such lofty output it has to
achieve an ambitious but achievable target of growing the diamond sector to
a US$1 billion industry. Government has grand vision of expanding the mining
industry from being a US$3,4 billion sector presently to a US$12 billion
industry by 2023, of which diamond should account for nearly a tenth.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Goromonzi youth in face mask production   

Young people in Goromonzi district have ventured into the production of face
masks to help curb the spread of Covid-19, as well as to improve their
employment prospects. The Covid-19 pandemic has had utmost effects on health
systems of many countries especially in Africa. The pandemic threatens the
economic outlook with adverse effects in the labour market, depending on
whether countries are on partial or extreme lockdown. Young people are the
most affected, as private sector companies continue to reduce the labour
force due to increased production costs and reduced demand of products and
services. This has caused a decline in revenues.  <http://www.bulls.co.zw/>
Read more >

Pyramid scheme shuts down   

A HARARE company that runs an investment scheme offering 50 percent interest
within six weeks has shut its offices leaving scores of investors stranded.
Bevern Capital, whose directorship is still unknown, has been operating from
Number 12 Lawson Avenue. According to a notice at the premises, the closure
was meant to allow the company to comply with the law. Part of the notice
reads: "Inconveniences caused are sincerely regretted. We would like to
advise all our valued clients that we have closed our offices for pay-ins
and pay-outs for legal and compliance issues." The company assured its
clients of reopening soon.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Uproar over market fees hike   

Harare City Council's decision to hike farmers market fees more than 11-fold
has stirred an uproar among stakeholders, including vendors and the business
community, who said the huge increase is unjustifiable. Farmers who used to
pay $45 a day from 6am to 11am now have to pay $500. Delivery trucks in the
range of one to five tonnes are paying $300, while for five tonnes and above
it is at $400. Council spokesperson Mr Michael Chideme yesterday said the
increase was necessitated by inflation.  <http://www.bulls.co.zw/> Read more
>

Land compensations will guarantee investments: CFU   

The decision to compensate white former farmers for improvements made on
land is not only a clear demonstration of Government's respect of the rule
of law, the Constitution and property rights, but also a signal to investors
that their investments are safe, Commercial Farmers Union President Mr
Andrew John Pascoe said. Mr Pascoe observed that the signing of the
agreement was a huge indication of the commitment to executing the promises
President Mnangagwa made at the advent of the Second Republic and it added
impetus to the drive to make the country a middle class income by 2030.
<http://www.bulls.co.zw/> Read more >

Nampak in 644% revenue growth   

Packaging group, Nampak Zimbabwe Limited's revenue for the third quarter and
nine months to June 30, 2020 rose 522 percent and 644 percent respectively
ahead of the same period in the prior year in historical terms. According to
the group, the business adjusted prices in line with economic trends
characterized by inflationary pressures, foreign currency shortages and low
disposable incomes. In a trading update, Nampak bemoaned the obtaining
foreign currency shortages as one of the major challenges that had a knock
on effect on the business.  <http://www.bulls.co.zw/> Read more >

ZSE continue to sing the blues   

The downward trend on the Zimbabwe Stock Exchange continued unabated
yesterday with all major indices closing in the negative territory. Heavy
losses were however recorded in small-cap counters with the Small Cap Index
shedding 2,51 percent to the 4,637.18 level. Small-cap counters that closed
negative were Proplastics down 1,32 percent to 670 cents, Zimplow down 9,7
percent to 343,33 cents, and Star Africa down 0,17 percent to 17,9 cents.
Star Africa's weakness comes as the company said sugar sales volumes at
Goldstar Sugars Harare (GSSH) were 7 percent lower than those recorded in
the prior year comparative period mainly due to intermittent water supply as
well as disruptions presented by the COVID-19 pandemic.
<http://www.bulls.co.zw/> Read more >

Starafrica Corporation ramps up exports   

The Star Africa board remains confident that the company will continue on
its upward trajectory despite the current challenges emanating from
COVID-19. The company said although it may not be spared the ravages of the
pandemic, it remains resilient as local demand for its products continues to
be strong. In addition to strong demand, the company says it has maintained
healthy levels of stocks of both raw materials and finished products, which
position was facilitated by a prudent cash management strategy that ensured
solvency throughout the quarter.  <http://www.bulls.co.zw/> Read more >

Agric sector leads in uptake of stimulus package   

The agricultural sector has been the biggest beneficiary of the $18 billion
Economic Rescue Package for distressed companies, Finance and Economic
Development Minister Professor Mthuli Ncube has said. As part of measures to
mitigate the adverse impact of Covid-19 in the country's economy, Government
announced the $18 billion Economic Rescue Package for distressed companies
and other key sectors including social cushion to vulnerable groups. The
amount is equal to nine percent of the country's Gross Domestic Product
(GDP) or 28,6 percent of the 2020 National Budget. The fund is also
envisaged to capacitate micro, small and medium enterprises and those in the
informal sector.  <http://www.bulls.co.zw/> Read more >

Midlands gets $90m devolution funding   

TREASURY has released over $90 million to rural and urban councils in the
Midlands province to enhance project development under the devolution
agenda. The devolution drive is key Government focus and seeks to ensure
achievement of equitable economic development in all the country's
provinces. President Mnangagwa has said that his administration is
prioritising devolution in the running of national affairs as a strategy to
revitalise the economy and to improve the people's standards of living. When
the Government started implementing the devolution agenda, which is
enshrined in the country's constitution, it envisaged the strategy as a tool
for development in all parts of the country.  <http://www.bulls.co.zw/> Read
more >

INVESTORS DIARY 2020

Company

Event

Venue

Date & Time

Lafarge

AGM

virtual

18  August 2020 | 12pm

REST OF AFRICA

Counters Trading Under Cautionary

Africansun

RioZim

CBZH

Turnall

Dawn

Unifreight

Falgold

Zimplow

Zimre

Fidelity

FM Holdings

ZPI

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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