Bulls n Bears Investors Notebook Issue 563: 26 August 2020

Wed Aug 26 05:57:38 CAT 2020

 <http://www.bulls.co.zw/> Bulls.co.zw
<mailto:info at bulls.co.zw?subject=View%20and%20Comments> Views & Comments
<http://www.bulls.co.zw/blog> Bullish Thoughts
<http://www.twitter.com/BullsBears2010> Twitter
<https://www.facebook.com/BullsBearsZimbabwe> Facebook
<http://www.linkedin.com/pub/bulls-n-bears-zimbabwe/57/577/72> LinkedIn
<https://chat.whatsapp.com/CF6wllAfScU9Wr6dXxoQnO> WhatsApp
<mailto:info at bulls.co.zw?subject=Unsubscribe> Unsubscribe

Bulls n Bears Investors Notebook Issue 563: 26 August 2020

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

Bulls 'n Bears Investors Diary: Today's Events

SeedCo International

AGM

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

26 August 2020 | 9am

Quotable Quote:

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

Zim BoP outlook remains positive   

Zimbabwe's balance of payment (BoP) position is projected to remain positive
after the country registered strong growth in international remittances in
the first half of this year. A positive outlook augurs well for the
country's capacity to meet its foreign obligations, more so against the
backdrop of challenges presented by the Covid-19 pandemic and given the
foreign exchange pressures that Zimbabwe is facing. There has also been
limited demand for foreign currency as most borders remained closed for
private visits except for transporters of commercial cargo.
<http://www.bulls.co.zw/> Read more >

$6bn infrastructure spend revs up economy   

THE Government has spent $6 billion on infrastructure development, as at the
end of last month, out of the $25 billion that is being mobilised for
investments across various capital formation projects and economic enablers.
The infrastructure is important for faster economic growth and alleviation
of poverty in the country. Adequate infrastructure in the form of road and
railway transport systems, power, airports and their efficient functioning
is also critical for integration of the economy with other economies of the
world. . <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

Businesses warned for flouting forex auction rate

GOVERNMENT has condemned the practice by some businesses to charge people
paying in local currency using rates that are above the foreign currency
auction rate. Most shops are not adhering to the official foreign currency
rate and some are using a three-tier pricing system for those buying in
forex, cash in Zimbabwe dollar and electronic transactions. In a survey in
Bulawayo's city centre, Chronicle observed that shops continue to demand
more money for those paying in local currency as opposed to those paying in
forex. While the official rate stands at US$1:$83,40 some supermarkets are
using US$1:$98.. . <http://www.bulls.co.zw/> Read more >

Zimdollar stable   

The Zimbabwe dollar exchange rate inched up 48 cents or 0,58 percent to
$83,3994 against the US dollar at the foreign exchange auction yesterday,
while the gap between top and bottom bids narrowed marginally to exactly $8,
a new record. The double indications of movements around half a percent and
ever-tighter bid bands show that the progress since the start of the
auctions two months ago has culminated in the last two auctions in
exceptional stability, and that in turn has led to very high levels of
stability in prices. For the third auction running all valid bids were
successful, a sign that the authorities see all bidders managing to get
within the desired narrow bands by reading market forces correctly. .
<http://www.bulls.co.zw/> Read more >

Ecotourism integral to Vision 2030   

Cabinet considered and approved the Conceptual Development Framework for the
Victoria Falls-Binga Special Economic Zone and the related nodes following
presentation by the Minister of Local Government and Public Works. The
following 10 nodes, most of them being tourist resorts, were identified
within the Special Economic Zone namely:- Victoria Falls Municipality Area;
Jafuta (Masuwe) Stateland; Batoka Town; Mlibizi Resort; Binga Centre;
Sijarira Resort; Binga hinterland; Gwayi-Shangani Dam Resort; Hwange Town;
and the Hwange Aerodrome Centre. Overall, the agreed approach includes the
integration of the natural environment, current ecotourism activities and
requirements relating to the World Heritage status while enhancing and
diversifying the tourism products on offer and integrating tourism with
other hinterland economies like mining and irrigation, for example, Binga
and Hwange. . <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Nampak to unpack plant in Marondera   

Nampak Zimbabwe plans to revive its timber operations in Marondera and
setting up an egg tray plant at a cost of US$5 million, it has been
established. Nampak, which holds 100 percent shareholding in Hunyani Forests
Limited, has already re-opened a retail outlet. The resuscitation of the
pole treatment plant and egg tray making plant, are expected to create 400
jobs. . <http://www.bulls.co.zw/> Read more >

'Speed up provision of affordable Internet'   

THE Internet Society of Zimbabwe (ISOC) says the Government must fast-track
the implementation of community networks countrywide to promote Internet
access in marginalised communities to foster development. According to the
Transitional Stabilisation Programme (TSP), information and communication
technologies (ICTs) are a catalyst in attaining the Government's goal of
achieving an upper-middle class economy by 2030 as they are pivotal in
enabling socio-economic development. The call comes at a time when the
Government was undertaking sweeping changes to facilitate robust digital
technology investments and innovation as the bedrock for economic
transformation. . <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Forex auction, US$ trading stabilises Edgars operations   

CLOTHING manufacturer and retailer, Edgars Group, says trading in United
States dollars and the introduction of the foreign currency auction system
in June this year has brought considerable stability as the group is now
funding the importation of inputs and machinery to re-tool its operations.
"With improved access to foreign currency from sales and the foreign
currency auction, retail chains can now improve on merchandise assortments,"
said Edgars in a latest trading update. . <http://www.bulls.co.zw/> Read
more >

Fraudulent claims upset insurance, pensions sector   

THE Insurance and Pensions Commission (IPEC) has raised concern over the
increase in the number of fraudulent claims in the insurance and pensions
sector. Speaking to journalists during a virtual 2020 insurance and pensions
mentorship programme yesterday, IPEC Commissioner of Insurance, Pension and
Provident Funds, Dr Grace Muradzikwa, said between 25 and 30 percent of
claims being submitted by clients were fraudulent. .
<http://www.bulls.co.zw/> Read more >

Meikles cuts legacy debt by 83 percent   

DIVERSIFIED listed concern, Meikles Limited, has reduced its legacy debt by
83 percent to US$2,23 million at the close of the financial year ended March
31, 2020 from US$13,3 million at the beginning of the year under review.
Meikles Limited, which has operations in retail, agriculture, hospitality,
properties and security services, said the legacy liabilities were funded
from internally generated resources. In a statement accompanying financial
results for the period under review, the group said: "Going forward, there
will be no exchange losses as legacy debt exposure has now been eliminated.
. <http://www.bulls.co.zw/> Read more >

ZB taps into diaspora market with Ketso   

ZB Financial Holdings has launched a global customer service hub called
#ZBHelloWorld that seeks to offer financial solutions to the group's
clientele. ZBHelloWorld is a three-fold campaign that was virtually launched
last Friday and it includes the  Diaspora Service Hub - Kesto, Visa Card and
the ZB Customer Service Promise. ZB Financial Holdings Group chief executive
Ron Mutandagayi said; "ZB has managed to provide a first of its kind global
financial solution, Kesto, targeted at Zimbabweans living in the diaspora..
. <http://www.bulls.co.zw/> Read more >

Business picks up for hoteliers   

The tourism and hospitality sectors are already recording considerable
demand for products, barely two months after the Government allowed them to
carefully and safely resume limited operations. Information, Publicity and
Broadcasting Services Minister, Monica Mutsvangwa, told the media on June 30
that Cabinet had granted requests by the tourism and hospitality sectors for
variations of operating conditions in respect of restaurant operators, and
to reopen safari operators for local hunting and national parks. Some hotels
started accepting guests in May after closing completely from April as a
precaution due to rising Covid-19 cases. . <http://www.bulls.co.zw/> Read
more >

Zimra refines cargo clearance system   

The Zimbabwe Revenue Authority (Zimra) has reviewed the commercial cargo
clearance system to enhance regional and international trade at the same
time minimising the interface between customs officers and the authority's
clients. The move to limit interface is understood to be primed to reduce
new Covid-19 infections within Zimra and also to cut on rent-seeking
activities that have been delaying the movement of goods across borders. The
Herald Finance and Business understands that the revenue authority is
rolling out a number of measures as part of adapting to the new normal
brought about as a result of the novel coronavirus pandemic. .
<http://www.bulls.co.zw/> Read more >

Nyanga farmers bemoan low sugar bean prices   

Some Nyanga farmers who reaped a bumper harvest of sugar beans are stuck
with their crop due to poor prices on the market. Some of the farmers at
Nyamaropa Irrigation Scheme have been forced to sell their produce at very
low prices on the informal market to offset production costs, while others
have opted to hold on until prices stabilise. Nyamaropa Irrigation Scheme
chairman, Mr Michael Nyadome, said the marketing side has been a major
drawback for the farmers. . <http://www.bulls.co.zw/> Read more >

INVESTORS DIARY 2020

Company

Event

Venue

Date & Time

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.

 Invest Wisely!

Bulls n Bears 

Cellphone:      <tel:%2B263%2077%20344%201674> +263 77 344 1674

Alt. Email:       <mailto:info at bulls.co.zw> info at bulls.co.zw  

Website:
<http://www.google.com/url?q=http%3A%2F%2Fwww.bulls.co.zw&sa=D&sntz=1&usg=AF
QjCNH8LYgdY55h-XKseuM8Kpr-JKdfhQ> www.bulls.co.zw 

Blog:
<http://www.google.com/url?q=http%3A%2F%2Fwww.bulls.co.zw%2Fblog&sa=D&sntz=1
&usg=AFQjCNFoIy6F9IXAiYnSoPSgWDYsr8Sqtw> www.bulls.co.zw/blog

Twitter:         @bullsbears2010

LinkedIn:       Bulls n Bears Zimbabwe

Facebook:
<http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimba
bwe&sa=D&sntz=1&usg=AFQjCNGhb_A5rp4biV1dGHbgiAhUxQqBXA>
www.facebook.com/BullsBearsZimbabwe

Skype:         Bulls.Bears 

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.

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200826/5219195c/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.jpg
Type: image/jpeg
Size: 28866 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200826/5219195c/attachment-0005.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 30132 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200826/5219195c/attachment-0006.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 30139 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200826/5219195c/attachment-0007.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.jpg
Type: image/jpeg
Size: 30145 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200826/5219195c/attachment-0008.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.jpg
Type: image/jpeg
Size: 4846 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200826/5219195c/attachment-0009.jpg>