Bulls n Bears Investors Notebook Issue 421: 26 January 2020

Sun Jan 26 07:56:49 CAT 2020

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Bulls n Bears Investors Notebook Issue 421: 26 January 2020

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

Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

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

Trade pact impasse dampens Paramount Garments exports   

FAILURE by the governments of Zimbabwe and South Africa to expedite
resolving the Bilateral Trade Agreement (BTA) has seen one of the country's
leading textile firms, Paramount Garments' export sales slumping by 25
percent, an official said. Paramount Garments managing director Mr Jeremy
Youmans told the Sunday News Business last week that failure by the company
to effectively penetrate one of its lucrative export markets in  South
Africa had a drastic negative impact on its export business as well as other
players in the clothing sector. <http://www.bulls.co.zw/> Read more >

Government forfeits 1 000 mining claims   

THE Government has forfeited more than 1 000 gold mining claims in
Matabeleland South following failure by owners to pay inspection fees since
last year and beyond, as it implements its "use it or lose it" policy aimed
at enhancing mineral production. In an interview with Sunday News Business
last Tuesday, Zimbabwe Miners Federation secretary-general Mr Philemon
Mokuele said some small-scale miners in Matabeleland South have since
stopped mining operations after their mining claims were forfeited by the
Ministry of Mines and Mining Development for failure to pay inspection fees
or commencing production within the stipulated time frame..
<http://www.bulls.co.zw/> Read more >

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

Sable Chemicals to construct 50MW solar plant   

Ammonium nitrate (AN) fertiliser manufacturing company, Sable Chemicals, is
carrying out a feasibility study on constructing a 50MW solar power plant at
the company site just outside Kwekwe. The solar power plant will benefit
both the company and the country as some power will be fed onto the national
grid. Sable Chemicals' projects development subsidiary, Tatanga Energy
(Private) Limited, is spearheading the feasibility study.
<http://www.bulls.co.zw/> Read more >

Government's devolution projects bearing fruit   

Devolution has started bearing fruit, with the implementation of an
assortment of projects, from dams, roads and clinics to schools and police
bases, among others, transforming the countryside. Development projects have
been rolled out countrywide as provinces use $2,93 billion set aside for
devolution in the 2020 National Budget.  <http://www.bulls.co.zw/> Read more
>

Firm ships millions to black market   

The surge in black market foreign exchange rates recorded in the past few
days from US$1:$22 to US$1:$25 has been traced to a Chinese firm which
shipped millions to the black market. The Reserve Bank of Zimbabwe
(RBZ)yesterday froze the bank account of China Nanchang pending further
analysis. RBZ said it was undertaking surveillance to identify more culprits
involved in the parallel market transactions. <http://www.bulls.co.zw/> Read
more >

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

Zimbabwe-China currency swap: What does it mean for Harare?

Finance minister Mthuli Ncube's recent announcement on the signing of a
currency swap agreement between Zimbabwe and China has drawn mixed responses
from various economic players in Zimbabwe. On one side is the line of
thought that says the arrangement may benefit only one side, namely China,
because of the trade deficit between the two countries that is favourable to
China. Some have gone as far as describing the move as a sign of desperation
due to the absence of the usual balance of payments support flows from such
institutions as the International Monetary Fund, the World Bank and the
dearth of adequate foreign direct investment (FDI) inflows.
<http://www.bulls.co.zw/> Read more >

Non-subsidised mealie-meal price up   

PRICES of mealie-meal not covered by a Government subsidy have shot up at a
time when the subsidised roller meal is in short supply. A 10kg bag of
Ngwerewere super refined mealie-meal that was pegged at around $110 before
the recent increase in fuel prices is selling for between $138 and $142.
The re-introduction of subsidised mealie-meal by Government brought relief
to most people who could not afford the prices of roller meal which was
selling for $100 or more for a 10kg bag after the removal of the subsidy.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

We're Going To Freeze Accounts Of Manipulators Upsetting Forex Markets - RBZ

RBZ Building entrance

The Reserve Bank of Zimbabwe took to Twitter this morning with a warning for
individuals who are "destabilising" the country by putting pressure on the
forex market. It has come to the attention of the Bank that there are some
exchange rate manipulators that are exerting pressure on the forex market
with the intention of destabilizing the stability that the country has been
experiencing over the past four months. Such malpractice is not warranted as
money supply has remained under control for the past five months. The matter
has been escalated to the Financial Intelligence Unit that is proceeding to
investigate and freeze the accounts of those upsetting the market.
<http://www.bulls.co.zw/> Read more >

RBZ Approves EcoCash Transaction Fees Hike

The Reserve Bank of Zimbabwe (RBZ) has approved the adjustment of
transaction fees upwards by Zimbabwe's largest mobile money operator,
EcoCash, TechZim reports. The publication says its sources have confirmed
that the approval was granted on Saturday afternoon, with the new fees
coming into effect on Monday, the 27th of January. The majority of
Zimbabweans are now using EcoCash for paying school fees, buying groceries,
transferring money, paying tithes and offerings at church and whatnot.
<http://www.bulls.co.zw/> Read more >

Fresh threat to timber industry   

Zimbabwe is facing a fresh threat of timber shortage that might force
players to import after the Ministry of Mines and Mining Development, issued
grants to prospective miners on land gazetted for commercial timber
plantations in Manicaland Province, Business Weekly can review. It is
understood that the ministry recently parcelled out "huge portions" of
planted and unplanted land owned by Allied Timbers (Allied) to miners
seeking to prospect for gold and diamonds and reports say their activities
have already started decimating the forests. <http://www.bulls.co.zw/> Read
more >

Zim banks lose relevance   

Zimbabwean banks are finding it extremely difficult to play their critical
lending role with balance sheets having been significantly weakened by the
switch to domestic currency after years of using the US dollar as an anchor
currency, it has been learnt. The country outlawed the use of a basket of
foreign currencies including in June last year and adopted Zimbabwe dollar
as mono-currency. Zimbabwe had abandoned its local currency in February 2009
- rendered worthless due to galloping inflation.  <http://www.bulls.co.zw/>
Read more >

Listed retail firms feel inflationary pressures   

Prevailing foreign currency shortages in the country are expected to put
pressure on retail companies' ability to import for re-stocking as well as
acquiring raw materials. This comes as another challenge to an already
constrained industry due to the economic volatility, which is characterised
by inflationary pressures that have eroded consumer spend as well as erratic
power supplies, increasing firms' overheads.  <http://www.bulls.co.zw/> Read
more >

RBZ hikes minimum capital for banks   

THE Reserve Bank of Zimbabwe (RBZ) has set new US dollar linked minimum
capital requirements for banks and other financial entities, effectively
hiking the lowest regulatory capital thresholds for the banking sector. The
RBZ last year set 2020 minimum capital threshold for large indigenous
commercial and all foreign banks  at $200 million, but kept them at $25
million for small commercial, merchant and development banks, building
societies, finance and discount houses . <http://www.bulls.co.zw/> Read more
>

INVESTORS DIARY 2020

Company

Event

Venue

Date & Time

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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