Bulls n Bears Investors Notebook Issue 565: 28 August 2020

Fri Aug 28 05:29:48 CAT 2020

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Bulls n Bears Investors Notebook Issue 565: 28 August 2020

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

Bulls 'n Bears Investors Diary: Today's Events

SeedCo

AGM

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

28 August 2020 | 9am

Quotable Quote:

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

Epworth reverses decision to charge rates in US$   

The Epworth Local Board has reversed its decision to levy rates in foreign
currency after sharp differences between councillors and management over the
issue. The decision to introduce payment in foreign currency was widely
condemned by residents who felt that they should have been consulted first.
Councillors, who were siding with ratepayers, accused management of jumping
the gun by introducing the option to pay bills using foreign currency
without their blessings while the management insisted that the move was done
above board.  <http://www.bulls.co.zw/> Read more >

Zesa explains current power generation   

Following the need for repairs on two generators at Hwange Thermal Power
Station, Zesa has pushed its giant Kariba South Power Station to generate
892MW as of Tuesday, filling much of the gap between demand and supply, but
load shedding will continue until the repairs on the two Hwange units, which
can generate 320MW, are complete. The extra Kariba South generation is not
enough to avoid load shedding as only 1 156MW is being produced from all
sources against peak demand of around 2 200MW. Extra imports are impossible
with regional demand exceeding supply.  <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

Govt repossesses 16 mining concessions   

GOVERNMENT has repossessed 16 mining concessions which were lying idle
across the country as it has started implementing the "use it or lose it
policy". The 16 concessions are part of the 213 mining concessions earmarked
for repossession in the first phase. Government has also reclaimed 21 000
hectares of mining land following failure by owners to pay inspection fees.
The Mines and Minerals Act empowers Government to repossess unused mining
concessions to prevent speculative holding of valuable assets.
<http://www.bulls.co.zw/> Read more >

Govt cuts wage bill to below 50 percent   

THE Government has managed to bring down the proportion of the public wage
bill in the national budget from 92 percent in 2017 to below 50 percent,
resulting in fiscal surpluses that have been invested in other key areas,
Treasury said in a recent update. The progress report contains a summary of
the extensive progress the New Dispensation has recorded on a wide range of
economic and Government reforms since coming into power in November 2017.
The Government promised to eradicate corruption and other forms of vices
that have been scuppering efforts to turn around the economy and indeed it
has lived to its word.  <http://www.bulls.co.zw/> Read more >

Vic Falls urbanites migrate as Covid-19 hits tourism business   

COMMUNITIES around Victoria Falls have been adversely affected by the
effects of Covid-19, which has seen many tourism businesses closing. The
country's prime resort town has over the years been a source of income for
thousands of people around Monde, Mvuthu, Jambezi, Matetsi and Woodlands
among others as many people from these areas were employed by hotels and
tour operators in the town. Many communities around Hwange's resorts also
used to benefit through village tourism as operators led tourists for
village tours to learn and enjoy African culture and in the process buy
local food and artefacts.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

ZimTrade rallies Matabeleland businesses to increase exports   

BUSINESSES in Matabeleland region could contribute significantly to growth
in export earnings through diversifying their product portfolio and tapping
into the lucrative regional and international markets. ZimTrade chief
executive officer, Mr Allan Majuru, said this in an interview in Bulawayo
yesterday after concluding a tour of local companies during which he engaged
with industry executives on how to exploit the export market.
<http://www.bulls.co.zw/> Read more >

Zimbabwe on path towards bridging the digital divide   

ZIMBABWE is making strides towards bridging the digital divide between urban
and rural communities with Government facilitating establishment of more
base stations in remote areas across the country so as to increase network
connectivity. The drive is part of Government's commitment to create a
knowledge-based economy hence the establishment of more Community
Information Centres (CICs) across the country. Yesterday Government
officially launched the Hwange CIC after the same facility was launched in
Chinotimba suburb, Victoria Falls, last month. The digital facilities will
enable communities to engage through internet connection and communities
will also have access to related cheaper services such as binding,
photocopying and laminating.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Dr Adesina re-elected AfDB president   

NIGERIA-born Dr Akinwumi Adesina has been re-elected to serve a second
five-year term as president of the African Development Bank (AfDB) Group. A
globally renowned development economist and a World Food Prize Laureate and
Sunhak Peace Prize Laureate, Dr Adesina has distinguished himself in driving
a bold agenda to reform the Bank and accelerate Africa's development. He was
first elected as President of the Bank on May 28, 2015. As newly re-elected
President, Dr Adesina, a former Nigerian Minister of Agriculture, will begin
his new term on September 1, 2020, said the Bank in an update Thursday
<http://www.bulls.co.zw/> Read more >

Hoteliers offer discounts to entice domestic clients   

PLAYERS in the hotel industry are offering discounted room rates to clients
in an effort to lure domestic travellers amid subdued international arrivals
due to Covid-19 restrictions. This comes as Government and the hospitality
industry have for months been engaging on how to capacitate domestic tourism
in the wake of unprecedented closure to international tourism due to travel
bans caused by Covid-19. The desire to revamp the sector has seen President
Mnangagwa recently launching the National Tourism Recovery and Growth
Strategy in Victoria Falls to mark a restart of the tourism industry with
reopening of the rainforest.  <http://www.bulls.co.zw/> Read more >

RBZ To Start Payment Of Money Owed To Gold Producers

The Reserve Bank of Zimbabwe has announced that it will start next week to
pay gold producers their outstanding amounts. The announcement follows a
meeting between the RBZ governor Dr John Mangudya and the Zimbabwe Miners
Federation (ZMF) officials who expressed concern over the late payments. ZMF
president, Henrietta Rushwawa said the RBZ governor had apologised for the
late payments. She said: We just came out of a meeting with the RBZ Governor
and he has apologised and committed that outstanding FPR Bullion Payments
will be done starting next week. Any inconvenience that has arisen out of
this is sincerely regretted.  <http://www.bulls.co.zw/> Read more >

Fastjet Zimbabwe Extends Flexible Booking Change Policy

Fastjet Zimbabwe reaffirms its commitment to all customers by extending
their Flexible Booking policy into 2021. With the ongoing travel
restrictions related to the COVID-19 pandemic, Fastjet has extended their
Flexible Booking Change policy until the 15th of March 2021, offering
customers the added confidence when choosing to fly on any route across the
airline's network. A Fastjet official stated: We understand that as
traveller confidence recovers, some customers may not be ready to decide
upon their next trip, or may be holding bookings they have not been able to
realise yet due to the existing restrictions. In support of our customers,
we have extended the flexible booking policy to both existing and new
bookings, for travel up to and including the 15 March 2021.
<http://www.bulls.co.zw/> Read more >

We Are Turning AgriBank Into A Land Bank For Farmers - ED

President Mnangagwa while launching the Agriculture Recovery Plan said the
government will turn the AgriBank into a Land Bank capacitated to offer
technical and financial support to farmers in order to promote agriculture
and end food insecurity in Zimbabwe. This was unveiled while the President
was launching the Agriculture and Food Systems Transformation Strategy when
he said: Having observed a financial gap in our agricultural sector,
government has transformed the business architecture of Agribank, turning it
into a land bank for all farmers .The bank will provide comprehensive
financial and other technical services to farmers as well as supporting all
projects aimed at promoting private and community based agriculture and food
system value chains.  <http://www.bulls.co.zw/> Read more >

Disposal of hotel boosts Meikles

Diversified hospitality group, Meikles Limited's profit for the year to
March 31, 2020 surged 336 percent to $1,4 billion compared to $320,6 million
achieved in the prior year boosted by.
<http://www.bulls.co.zw/2020/08/27/disposal-of-hotel-boosts-meikles/> Read
more >

Properties on sale require due diligence

Due diligence is a risk mitigation measure in that it is an investigation or
exercise of care that a reasonable person is normally expected to take
before entering an agreement.
<http://www.bulls.co.zw/2020/08/27/properties-on-sale-require-due-diligence/
> Read more >

INVESTORS DIARY 2020

Company

Event

Venue

Date & Time

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 

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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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