Bulls n Bears Investors Notebook Issue 450: 26 February 2020

Wed Feb 26 03:31:11 CAT 2020

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Bulls n Bears Investors Notebook Issue 450: 26 February 2020

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

Bulls 'n Bears Investors Diary: Today's Events

Hippo

AGM

Meikles

Feb 26, 12pm

Quotable Quote:

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

FBC Bank Cards Now Have US$20 And Or US$15 Annual Fees

FBC Bank has announced that it will start charging a $20 fee on all prepaid
cards issued by the bank a year. Personal accounts will be expected to pay
$15 per year. The bank announced the development to its customers via an SMS
which read: Please note that FBC Prepaid cards will now have the following
annual fees applicable to them, $20 for Business and $15 for Ordinary cards
effective February 2020.  <http://www.bulls.co.zw/> Read more > 

Blanket Mine secures power generation licence   

GWANDA-based gold producer, Blanket Mine, has secured a power generation
licence from the Zimbabwe Energy Regulatory Authority (Zera) which will
allow the mining company to install an 18MW solar power plant. Last October
Blanket Mine, through its parent firm, Caledonia Mining Corporation
announced plans to install a solar power plant to further reduce dependence
on the national grid as well as reduce operational costs.
<http://www.bulls.co.zw/> Read more >

For more business & financial updates log onto <http://www.bulls.co.zw/>
www.bulls.co.zw

Zim targets increased Botswana exports

ZIMBABWE is targeting to increase exports to Botswana with local companies
expected to leverage on this week's Zimbabwe-Botswana Bi-National Commission
(BNC) Conference to tap into existing trade opportunities and seek synergies
with their neighbouring counterparts. In a bid to foster closer cooperation
between Zimbabwe and Botswana, President Mnangagwa and his delegation,
including business leaders, will take part in the 2nd Session of the
Zim-Bots BNC that is already underway in Maun, Botswana. The high-level
indaba began yesterday and will close on Friday.  <http://www.bulls.co.zw/>
Read more >

US$7bn loot stashed in foreign lands: ZACC

THE Zimbabwe Anti-Corruption Commission (ZACC) says it has identified over
US$7 billion in cash and properties stashed outside the country by former
and current senior Government officials and captains of industry. This comes
as ZACC intensifies efforts to recover ill-gotten wealth hidden in foreign
lands. According to ZACC, some of the properties and cash were in
Switzerland, London, the United States of America, Singapore, Hong Kong,
Malaysia, Mauritius and Spain, among other countries.
<http://www.bulls.co.zw/> Read more >

Looting at Zisco

THE Zisco board and management are set to beef-up security at the company
following reports of rampant looting of resources at the defunct iron and
steel giant allegedly by former workers and thieves. Besides former workers
who are well acquainted with the plant, machete-wielding goons popularly
known as "Mashurugwi", have not spared the company as they are reportedly
threatening to attack security personnel with machetes to gain entry into
the plant.The world's longest conveyor belt at one time, measuring 15,6
kilometres, was the first to be stripped down by thieves.
<http://www.bulls.co.zw/> Read more >

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

Fireworks expected at Hippo Valley AGM   

FIREWORKS are expected at listed sugar producing firm Hippo Valley Estates'
annual general meeting (AGM) today where the firm's minority shareholders
will question certain financial decisions by the majority shareholder, which
allegedly prejudiced them over a long period. Sources said minority
shareholders, including Old Mutual and State pensions entity, National
Social Security Authority (NSSA), will demand explanations over some dodgy
decisions by Tongaat Hulett, which they claim amount to asset stripping and
cost minorities dearly.  <http://www.bulls.co.zw/> Read more >

Zim loses US$3bn to illicit financial flows

ZIMBABWE has lost over US$3 billion to illicit financial flows through tax
evasion, smuggling, corruption, fraud, drug trafficking and money
laundering, Zimbabwe Anti-Corruption Commission (ZACC) chairperson Justice
Loice Matanda-Moyo has said. Addressing an asset recovery training workshop
in Harare yesterday, Justice Matanda-Moyo said illicit financial flows were
among the greatest threats that Zimbabwe was facing as a country. She said
the Commission's Strategic Plan for 2019-2024 had allocated 60 percent of
its resources to investigation and asset recovery.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Parly grills GMAZ over US$27m

GRAIN Millers Association of Zimbabwe (GMAZ) chairman Mr Tafadzwa Musarara
yesterday failed to account for US$27 million which the association received
from the Reserve Bank of Zimbabwe (RBZ) to import wheat and could not
provide evidence that the association used part of the money to repair Grain
Marketing Board (GMB) silos. This came out when Mr Musarara presented oral
evidence before the Parliamentary Portfolio Committee on Lands, Agriculture,
Water and Rural Resettlement chaired by Cde Justice Mayor Wadyajena. Asked
to explain how his association used the money, Mr Musarara told the
committee that the association did not get US$27 million, but US$26.1
million.  <http://www.bulls.co.zw/> Read more >

US dollar fuel helps save forex: Mangudya   

The move by the central bank to allow all fuel service stations with free
funds to import fuel for sale in foreign currency, will help the economy
save much-needed critical foreign currency, Reserve Bank of Zimbabwe (RBZ)
governor Dr John Mangudya has said. The governor, who was appearing before
the Portfolio Committee on Budget, Finance and Economic Development on
Monday, said the move was part of a broader strategy by the monetary
authorities to reduce the flow of free funds to the parallel market.
<http://www.bulls.co.zw/> Read more >

Govt salutes smallholder farmers   

Government has lauded smallholder farmers for playing a critical role
towards contributing to the country's food and security requirements. Said
the Minister of Lands, Agriculture and Rural Resettlement Dr Perrance Shiri:
"Government appreciates the contributions that FAO, civil society
organisations represented by the National Association of non-Governmental
organisations and Zimbabwe smallholder organic farmers' forum and producers'
organisations in providing organisational, economic, and social support to
smallholder farmers, pastoralists and those who rely on fishing and forestry
for their livelihoods," he said yesterday.  <http://www.bulls.co.zw/> Read
more >

Sugar production dips 12 percent   

Hippo Valley Estates' sugar production volumes for the nine months to
December 2019, declined as cane production took a dip. According to the
firm's quarterly trading update, sugar produced during the nine months ended
December 31, last year amounted to 211 267 tonnes, which was 12 percent
below the 238 965 tonnes produced during the same period in the prior year.
The firm is owned by South African sugar producer, Tongaat Hulett. The
decline came as cane harvested from both the company and private farmers
went down. Cane harvested from the company farms went down 5 percent to 1
010 571 tonnes from comparable prior year figures of 1 068 164 tonnes.
<http://www.bulls.co.zw/> Read more >

40m trees for tobacco curing

The Forestry Commission says it is targeting to plant 40 million tree
seedlings countrywide this year as part of a long term strategy to proffer
tobacco farmers with energy solutions by making the tobacco curing process
efficient, environmental friendly and sustainable. Although tobacco is the
second largest foreign currency earner in the country after gold, concern
has been raised on the manner most farmers, mainly smallholders, have been
decimating forests in their quest to cure the crop. Coal has been the
traditional energy source, but has proved to be non-viable for many new
farmers due to the cost of bringing it from Hwange by road to most tobacco
producing areas.  <http://www.bulls.co.zw/> Read more >

No revenue worries: Zimra

The Zimbabwe Revenue Authority (Zimra) says the country should not fear
losing revenue when it starts  implementing the Africa Continental Free
Trade Area (AfCFTA) protocol as  it will still be levying other indirect and
domestic taxes besides  import duty. The AfCFTA agreement came into force
mid-last year, becoming the  world's largest free trade pact since the
establishment of the World  Trade Organisation in 1994. The pact seeks to
create a single market for goods and services, free  movement of people and
eventually a Customs Union with a common tariff  for the continent.
<http://www.bulls.co.zw/> Read more >

INVESTORS DIARY 2020

Company

Event

Venue

Date & Time

Hippo

AGM

Meikles

Feb 26, 12pm

Cafca

AGM

54 Lyton Road, Workington

Feb 27, 12PM

ART

AGM

202 Seke Road, Graniteside

Feb 27, 2:30pm

GetBucks

Conference Room 1, Monomotapa Hotel

Mar 03, 8:30am

Powerspeed

AGM

Boardroom, Powerspeed Complex, Corner Cripps and Kelvin Road North,
Graniteside

Mar  05, 11am

REST OF AFRICA

Counters Trading Under Cautionary

 Bindura Nickel Corp

CBZH

Dawn

Delta

Falgold

Fidelity

MedTech

Meikles

Turnall

Unifreight

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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