Bulls n Bears Investors Notebook Issue 423: 28 January 2020

Tue Jan 28 11:58:54 CAT 2020

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Bulls n Bears Investors Notebook Issue 423: 28 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

Zimbabwe tax agency targets businesses to raise dollars

HARARE (Reuters) - Zimbabwe's tax agency on Monday ordered businesses
charging their customers in foreign currency to also settle their tax
obligations in foreign currency, as the government aims to raise scarce
dollars. In June last year, authorities in the southern African nation
re-introduced the Zimbabwe dollar, ending a decade of dollarisation, in a
move that sent inflation soaring to three-digit figures.
<http://www.bulls.co.zw/> Read more >

Beitbridge mulls solar farm project

BEITBRIDGE Municipality has revealed plans to develop a solar farm on land
measuring about 100 hectares to ease rolling electricity outages that are
being experienced across the country. Zimbabwe is failing to generate enough
electricity to meet local demand, a situation that has seen consumers going
for more than 18 hours daily without electricity. <http://www.bulls.co.zw/>
Read more >

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

FBC Insurance Launches Instant Third Party Insurance Product

FBC Insurance Company is proud to announce the launch of "yako"(an
innovative, game-changing and fully digital third party insurance service)
which will change the face of insurance in Zimbabwe. The innovative and
world-class service, which is now available on the market, allows vehicle
owners to purchase a secure and affordable instant third party insurance
service for private cars, commercial vehicles, buses, motorcycles, trucks,
trailers and caravans, using a basic feature phone (kambudzi) or smartphone.
<http://www.bulls.co.zw/> Read more >

Sable Chemicals to construct solar energy generating plant

In a bid to ease power cuts currently being experienced in the country,
Sable Chemicals, the country's sole ammonium nitrate manufacturer, is set to
embark on an ambitious solar construction project. Sable Chemicals at its
peak consumed 80 megawatts of electricity before it scaled down to 40
megawatts after shutting down five of its electrolysis units in 2015.
<http://www.bulls.co.zw/> Read more >

Zim, India eye increased co-operation

GOVERNMENT says there is huge potential for increased co-operation in the
ICT, energy, mining and the pharmaceutical sectors with India. Speaking at
the commemoration of the 71st Republic Day of India, an annual national
holiday held every January 26 in that country, Foreign Affairs deputy
minister David Musabayana said India was a key ally..
<http://www.bulls.co.zw/> Read more >

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

Mining firms battle brain drain

ZIMBABWE's mining companies are battling to retain critical staff by
pampering their workers with lucrative incentives that include paying in
hard currency, NewsDay Business has learnt. Last June, the southern African
nation ended the 10-year use of the multi-currency regime to reintroduce the
Zimbabwe dollar, the sole legal tender which is fast losing value since its
return. Inflation has been rising since then, wiping out wages and salaries
for most workers. Inflation ended 2019 at 521%. <http://www.bulls.co.zw/>
Read more >

Byo leather cluster plans to boost exports

THE European Union-funded Bulawayo leather cluster is looking forward to
increasing exports of its products into the region after successfully
securing a market in Namibia recently, an official has said. In an interview
with NewsDay Business after the European Union ambassador to Zimbabwe, Timo
Olkkonen had toured the centre last week, leather cluster secretary-general
Fungai Zvinondiramba said opportunities for their products in the region
were abound. "The laid-down capacity in this factory right now is 3 000
pairs of shoes a day. Currently, we are making about 150 pairs per day. In
the past three days, we have been working on an order of about 450 pairs and
we intend to dispatch them next week (this week) to Namibia," he said.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Zim trade decifit narrows 81% to US$474m

ZIMBABWE'S trade deficit narrowed by 81% to US$474 million between February
and December last year compared to the same period in 2018, mainly due to
shortages of foreign currency for imports. Trade deficit represents an
outflow of domestic currency to foreign markets. Figures released by the
Zimbabwe National Statistics Agency (ZimStat) show that between February and
December, the country imported goods and services worth US$4,45 billion
against exports of US$3,98 billion. <http://www.bulls.co.zw/> Read more >

RBZ maintains lending rate at 35pc   

THE Reserve Bank of Zimbabwe (RBZ) last week maintained the key overnight
bank accommodation rate at 35 percent, reflecting the level at which the
central bank believes interest rates should hover. Analysts, however, say
for short-term loans the 35 percent overnight bank accommodation rate is on
the high side and would only be close to the ideal level if banks were
extending long to medium-term loans. Banking institutions are lending mostly
between 45 and 25 percent, for individual and short-term loans, while others
quote interest rates just below the industry benchmark rate, specifically
for corporate loan facilities.. <http://www.bulls.co.zw/> Read more >

ZimParks suspends issuance of fishing permits for Kariba   

ZIMBABWE has suspended the registration of new kapenta fishing permits for
Lake Kariba as part of measures to ensure the sustainable exploitation and
management of fish in the lake. The move seeks to trim the number of fishing
rigs operating in the lake, which have trebled to 1 500, beyond the
scientifically proven sustainable threshold of 500.
<http://www.bulls.co.zw/> Read more >

Sources, uses of funds   

A Deposit Protection Scheme (DPS) should have all funding mechanisms
necessary to ensure prompt reimbursement of depositors' claims available
including a means of obtaining supplementary back-up funding for liquidity
purposes when required. Primary responsibility for paying the cost of
deposit insurance should be borne by contributory institutions since they
and their clients directly benefit from having an effective DPS. In
Zimbabwe, the DPC Fund is largely funded by premium income from contributory
institutions. <http://www.bulls.co.zw/> Read more >

fastjet yet to close restructuring deal   

Fastjet Plc said yesterday it is still to finalise its due diligence on
fastjet Zimbabwe and securing the required regulatory approvals for its
disposal. In November 2019, fastjet said it was looking to offload the
Zimbabwe unit to a consortium led by its major shareholder, Solenta
Aviation, for US$8 million, a deal which could help the South African
low-cost carrier stay alive until 2021. If the restructuring plans do not
pan out by end of February, the Africa-focused company may not be able to
continue trading as a going concern, fastjet said then.
<http://www.bulls.co.zw/> Read more >

Malaba ruling to affect insurance, pension firms   

Although banks and other lenders are likely to take a hit from the landmark
ruling on United States dollar debts, the decision should also affect firms
that are significantly dependent on interest income, analysts have said.
Interest income is the amount paid to an entity for lending its money or
letting another entity use its funds. <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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