Bulls n Bears Investors Notebook Issue 562: 24 August 2020

Mon Aug 24 06:33:33 CAT 2020

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Bulls n Bears Investors Notebook Issue 562: 24 August 2020

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

Bulls 'n Bears Investors Diary: Today's Events

RTG

AGM

Virtual

24 August 2020 | 12pm

Quotable Quote:

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

RBZ extends banks capitalisation deadline   

Zimbabwe's apex bank, the Reserve Bank of Zimbabwe (RBZ), has extended by a
year the deadline for local financial institutions to meet the new minimum
capital requirements. The regulator said it had taken into consideration the
impact Covid-19 has had on the financial services sector.
<http://www.bulls.co.zw/> Read more >

'Lockdown restrictions affecting industry'   

Industrial capacity utilisation has been badly affected in the past few
months due to lockdown restrictions meant to curb the spread of coronavirus,
according to latest Government report. Declared a pandemic by the World
Health Organisation on 11 March this year, the highly contagious disease,
which has so far killed 776 000 people and infected nearly 22 million
worldwide, has rattled global economies. Zimbabwe introduced lockdown
restrictions at the end of March as part of efforts to limit the spread of
Covid-19.  <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

Zimpost brings more convenience through E-Commerce   

Zimpost remains the centre of activity in every locality in urban and rural
Zimbabwe, offering universal access to a wide range of products and
services. Zimpost operates more than 239 postal outlets nationwide, giving
it an unparalleled reach. With the continued advancements in technology,
Zimpost has had to adapt, ensuring that the Post Office remains key in the
communications industry. Globally, volumes of parcels and small packets have
grown by 6,5 percent per year and this growth has resulted in e-commerce
growth in most parts of the world particularly in Europe and in Asia
Pacific.  <http://www.bulls.co.zw/> Read more >

Cyber Security Bill advanced   

The enactment of the Cybersecurity and Data Protection Bill is now at an
advanced stage and the Government will soon be able to use some of the
Bill's provisions to ensure a safer cyberspace for citizens. Information
Communication Technology, Postal and Courier Services Minister Jenfan
Muswere, said this while launching the Mashava Community Information Centre
(CIC) on Friday.  <http://www.bulls.co.zw/> Read more >

Kanyemba greenbelt: Land preps stepped up   

Treasury will finance the clearing of 300 000 hectares of land for
agricultural purposes and also fund water reticulation and acquisition for
irrigation equipment to support the Government's plans to turn the Lowveld
into a green belt, Industry and Commerce Minister, Dr Sekai Nzenza has
said.Dr Nzenza, who was standing in for Finance and Economic Development
Minister Professor Mthuli Ncube, said this during Vice President Constantino
Chiwenga's visit to Kanyemba recently to assess developmental projects being
undertaken in that area.   <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Tobacco sales decline by 21pc

FARMERS have sold a cumulative 171 million kg of tobacco worth US$425
million, which is 21 percent lower than the crop traded during the same
period last year when 216 million kg worth US$423 million were traded.
Volumes of tobacco deliveries to the auction floors have declined, as most
farmers have already sold their crop. The Tobacco Industry and Marketing
Board (TIMB) last week said the selling season was drawing to an end owing
to the decline in the daily volumes.   <http://www.bulls.co.zw/> Read more >

Gold payment delays blamed for fuelling black market'   

Small scale and artisanal miners have bemoaned delays by Fidelity Printers
in processing their payments for gold deliveries, which have forced some of
the miners to sell their gold on the black market where there is ready cash.
The miners said the processing of payment was taking up to a month after
they deliver their gold to Fidelity. Speaking at a meeting, which was
attended by Finance and Economic Development Minister, Professor Mthuli
Ncube in Gweru last week, the miners urged him to look into the matter.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Road projects hit funding hump   

Work on upgrading key roads here has stalled owing to delays in the release
of funds, amid reports that over $15 million that was allocated for the
projects was eroded by inflation. Major roads that were being upgraded
include Masvingo-Kapota-Zimuto, Rutenga-Boli-Sango, Rutenga-Zvishavane,
Gutu-Kurai,Gutu-Buhera and Chivi-Mhandamabwe. Delays in releasing the funds
saw some of the contractors such as Bitumen World that was working on the
Chivi-Mhandamabwe road demobilising their equipment.
<http://www.bulls.co.zw/> Read more >

Local vehicles production plunges   

Local vehicles production has plunged to unprecedented levels, with
Willowvale Motor Industries (WMI), not recording any production in the last
five months due to low demand and foreign currency shortages, according to
latest Government report on state of industries. The report, done by the
Ministry of Industry and Commerce on the state of industry during the
lockdown period, reveals the motor industry is one of the sectors whose
distress has been compounded by the global coronavirus pandemic, which has
so far killed about 780 000 people and infected nearly 22 million.
<http://www.bulls.co.zw/> Read more >

Target incentives for Zim oil project   

INVICTUS Energy, the Australia listed junior miner developing Zimbabwe's
potential maiden oil and gas mine, has offered two key directors shares to
incentivise their performance, as it seeks to navigate an important stage of
the Murabani project development and growth of the company. It is expected
successful discovery of oil and gas in the Cahorra Bassa Basin of Muzarabani
will be a game changer for Zimbabwe in terms of job creation, energy
self-sufficiency, downstream industries, exports and development of the
project area. Working with Government, Invictus is at a stage where it is
also in discussions with Government for production sharing agreement and the
crafting of legislation that fills voids in the current Petroleums Act.
<http://www.bulls.co.zw/> Read more >

Central Bank entrenches forex auction   

The Reserve Bank of Zimbabwe (RBZ) on Friday introduced a raft of measures
to buttress efficiency of the foreign exchange auction while eliminating
deficiencies in the mobile banking system that were hurting the domestic
currency. This comes as the bank noted that the auction system had accounted
for more than 87 percent of the foreign currency needs of importers since
the auction system was introduced on June 23, 2020. Chief among the measures
the central bank has introduced to foster currency and price stability and
end volatility that has been rocking the economy is the requirement for
businesses that sell in forex to liquidate part of their revenue upon
depositing with the bank.   <http://www.bulls.co.zw/> Read more >

Zim ready for an open foreign currency exchange trading market   

The foreign exchange auction trading system was introduced on 23 June 2020.
It took just about four auctions for the market to start accepting that the
system was sustainable. Economic agents adopted mixed strategies with some
showing clear signs of either doubt or resistance to the new system as
pricing models continued being based on expected parallel rates. With an
initial auction amount of U$10 million allotted against a total bid amount
of U$11 million, the shortfall of U$1 million was the highest before it
started reducing over the period until by the last two auctions ending on 18
August where a total $14 million was allotted.  <http://www.bulls.co.zw/>
Read more >

'Byo lost big business to ZITF cancellation'   

THE outbreak of Covid-19 and the subsequent cancellation of this year's
Zimbabwe International Trade Fair (ZITF) in April negatively impacted on the
company's revenue and tourism income for Bulawayo, Industry and Commerce
Minister, Dr Sekai Nzenza, has said. The ZITF is the biggest annual economic
conference in the country and, being hosted in the City of Kings,
traditionally draws thousands of local and foreign delegates, bringing in
wider business benefits mainly to the tourism sector and down the value
chain. This year's ZITF was the 61st edition and was supposed to be held
from 21 to 25 April under the theme: "Augmenting Trade and Investment
Towards a Shared Economic Vision". The prime multi-sectorial exhibition was
postponed indefinitely following a Cabinet decision. ZITF Company board
chairman Mr Busisa Moyo is on record saying that in view of the spike in
Covid-19 cases, it is unlikely to host the event anytime this year.
<http://www.bulls.co.zw/> Read more >

EcoSure launches product for churches, social groups   

ECOSURE, a micro-insurance brand from Cassava Smartech, has unveiled a new
product package called "EcoSure Pamwepo/Sisonke" in an effort to include
churches and other social groups to have access to affordable insurance
cover. Insurance cover is beyond the reach of many due to weak disposable
incomes on the back of the hyper-inflationary environment, which has
recently seen prices of goods and services steepening. The country's annual
inflation stood at 840 percent in July, according to ZimStat, but the trend
is set to stabilise following the positive impact of the forex auction
system.  <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

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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.

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