Bulls n Bears Investors Notebook Issue 560: 20 August 2020

Thu Aug 20 07:24:34 CAT 2020

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Bulls n Bears Investors Notebook Issue 560: 20 August 2020

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

Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

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

Traders in forex tax fraud   

MOST businesses selling goods and services in US dollars are receipting the
money in Zimbabwean dollars, opening themselves to potential charges of tax
fraud. The Government recently authorised the pricing of goods and services
in both local currency and the US dollar, but using the ruling auction rate
for the conversions. At the same time, it has been the law for some time
that taxes have to be paid in the currency of the revenue, so that a
business that receives 13 percent of its revenue in foreign currency and 87
percent in local currency would pay 13 percent of its company taxes in
foreign currency and 87 percent in Zimdollars.  <http://www.bulls.co.zw/>
Read more >

DCK thinks outside the box with unique business model   

ZIMBABWE is slowly adopting and nurturing a job-creator mindset as espoused
in the country's education 5.0 model, which seeks to create innovators and a
productive industry rather than job seekers and a supermarket economy. The
country's Vision 2030 of becoming a middle-income economy demands a vibrant
industry based on a purely Zimbabwean prototype. As rightly put by the
Minister of Higher and Tertiary education, Science and Technology
Development, Professor Amon Murwira: "we have a pleasure and happiness to do
degrees, but we do not do degrees for pleasure and happiness. We do degrees
to produce goods and/or services".  <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

Covid-19 presents business opportunities   

The World Health Organisation estimates the monthly Covid-19 needs of
frontline health practitioners to stand at  89 million masks, 1,6 million
goggles, 76 million gloves and 2,9 million litres of hand sanitisers. The
Covid-19 pandemic has triggered most countries to adopt protectionist and
restrictive  measures   around  the exportation  of essential materials such
as  food and medical supplies  as described by WHO. Africa in contrast to
the global world, has not imposed any export restrictions on medical
supplies  due to the fact that most of those goods are not manufactured in
Africa. Africa exports 0,5 percent  globally while the imports comprise 2,6
percent.  <http://www.bulls.co.zw/> Read more >

Zim launches first virtual communication platform   

Zimbabwe has launched Africa's first virtual communication platform - Glue
Virtual Platform -  which is expected to assist African states in dealing
with security issues that are endemic in an increasingly virtual world. Glue
VP is a comprehensive communication, collaboration, engagement and
participation platform ready for use for meetings, government communication,
education and training. The local innovation will help reduce Africa's
dependency on platforms developed outside the continent such as Zoom, Skype,
Microsoft Team, Cisco Webex and Google Meet, among others.
<http://www.bulls.co.zw/> Read more >

Zimre leverages on regional operations to recover   

Diversified insurance group, Zimre Holdings Limited, is looking at
leveraging on its regional operations and service delivery as one of its
strategies for post Covid-19 recovery. The pandemic has affected businesses
across sectors, locally, regionally and at a global level on varying
degrees. As the pandemic is creating uncertainties to the economy,
businesses all over are crafting measures to ensure sustainability and
survival during and after Covid-19. The pandemic has already caused turmoil
as a result of disruptions to production and trade due restrictions to
movement locally and regionally as countries closed borders to limit the
spread of the disease.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Zimbabwe banks, treasury in dispute   

Zimbabwe's government and commercial banks are locked in a dispute over the
costs relating to relief offered to civil servants and pensioners during the
coronavirus pandemic. The state had agreed to reimburse lenders for
administrative charges relating to a foreign-currency allocation totalling
US$36 million a month, but the details are still to be worked out, Ralph
Watungwa, president of the country's Bankers Association, said by phone. The
Treasury said there is no need for lenders to be refunded. "It's a question
of ethics on the part of the banks," Finance Minister Mthuli Ncube said in a
statement.  <http://www.bulls.co.zw/> Read more >

ZSE invites applications for Victoria Falls Stock Exchange   

The establishment of the Victoria Falls Stock Exchange is taking shape with
the Zimbabwe Stock Exchange (ZSE) inviting applications from stakeholders
interested to participate at the much-awaited bourse. The Victoria Falls
Stock Exchange (VFEX) is a wholly-owned subsidiary of the ZSE and is
currently waiting licencing by the Securities and Exchange Commission of
Zimbabwe (Secz). Captains of industry have applauded Government's  decision
to launch the VFEX saying this will attract foreign direct investment to the
prime resort town and enhance quick recovery of the tourism industry.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Zimbabwe's Mupita appointed MTN CEO   

Renowned engineer and Zimbabwe born Ralph Mupita, has been appointed
president and chief executive officer (CEO) of South Africa's giant telecoms
firm, the MTN Group, the company announced yesterday. This appointment will
be effective September 1, 2020, with incumbent CEO, Rob Shuter, set to step
down on August 31. Mupita becomes the third Zimbabwean born executive to be
appointed MTN group president and CEO after Paul Edward and Sifiso Dabengwa.
He was previously the chief financial officer of MTN Group, a position he
held since April 2017.  <http://www.bulls.co.zw/> Read more >

Zim, Rwanda bolster PPC volumes   

CEMENT manufacturing giant PPC yesterday said total volumes at its
international subsidiaries sold reported double digit growth in July this
year compared to the same month last year. This comes at a time when
businesses worldwide have been affected by the slow down in economic
activity due to the Covid-19 induced lockdowns. "The demand is especially
strong in Zimbabwe and Rwanda and the growth of sales volumes during July
has been positive in the DRC as well," the company said in a trading update.
"The increased sales volumes and the effect of the cost reduction and cash
preservation measures have resulted in cash flows for the last months
showing a positive trajectory."  <http://www.bulls.co.zw/> Read more >

SeedCo Limited soldiers on   

LISTED seed producer, SeedCo Limited says its planned US$12,5 million
Artificial Seed Drying facility in Harare will be launched at the end of the
year. In a trading update for the first quarter ended June 30, 2020, SeedCo
said: "The group is soldiering on amidst severe funding constraints to
commission the game changing US$12,5 million artificial seed drying facility
at Stapleford (Harare) before the end of the year." Recently, SeedCo
announced that it had secured the equipment for an Artificial Maize Seed
Drier from a supplier in Denmark. The setting up of the drier has been
necessitated by the company's determination to curb seed post-maturity
losses and further advancing processed seed market readiness.
<http://www.bulls.co.zw/> Read more >

Prospect secures offtake partner for Arcadia Lithium project   

ZIMBABWE-focused mining group, Prospect Resources, has secured a long-term
agreement with Sibelco N.V, the world's largest industrial minerals
solutions company to supply petalite from its Arcadia Lithium project.
Prospect is developing the Arcadia Lithium mining project in Goromonzi near
Harare. In a statement, the mining group said the seven-year agreement will
see the company supplying 700 000 dry metric tonnes (dmt) of high quality,
ultra-low iron petalite concentrate during the tenure of the agreement. "The
company is pleased to announce that it has secured a new long-term offtake
partner for its Arcadia Lithium Project.  <http://www.bulls.co.zw/> Read
more >

Forex auction rate shows Zim-dollar moving towards stability   

THE Zimbabwe dollar has effectively reached a stable exchange rate with
yesterday's auction showing a slight movement of 0,43 percent or just under
36 cents, as the price of the US dollar moved to $82,9184 from last week's
$82,5608 with the bid range narrowing further to a minimum of $80 and a top
bid of $88,38 in the main auction. Bidders in the SME auction were more
optimistic about stability, bidding between $78 and $85. The bid range in
the main auction was the narrowest in the eight auctions since the system
was introduced by the Reserve Bank of Zimbabwe towards the end of June, and
the same was seen in the third SME auction since that came on line a
fortnight ago.  <http://www.bulls.co.zw/> Read more >

Local varsity commissions PPE factory   

Great Zimbabwe University (GZU) continues to lead in the Covid-19 fight,
with the institution commissioning a state-of-the-art textile and garment
factory to manufacture personal protective equipment (PPE) and other
materials for frontline health workers. The university is also producing
hand sanitisers and has gone a step further by constructing a garment and
textile factory at Robert Mugabe School of Education in the Masvingo
industrial area.  <http://www.bulls.co.zw/> Read more >

Presidential inputs distribution begins   

Distribution of inputs under the Presidential Inputs Scheme for the summer
cropping season has started with seed and fertilisers being delivered to
Grain Marketing Board depots. Farmers are expected to start collecting
inputs in the first week of September. Government has trained more than 1,6
million farmers in all eight rural provinces in the Pfumvudza concept, with
more than 200 000 already registered for inputs. Under the programme,
farmers are exposed to conservation methods that allow them to cope with
climate change.  <http://www.bulls.co.zw/> Read more >

INVESTORS DIARY 2020

Company

Event

Venue

Date & Time

RTG

AGM

Virtual

24 August 2020 | 12pm

SeedCo International

AGM

Virtual (https://eagm.creg.co.zw/eagmzim/Login.aspx#)

26 August 2020 | 9am

SeedCo

AGM

Virtual (https://eagm.creg.co.zw/eagmzim/Login.aspx#)

28 August 2020 | 9am

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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