Bulls n Bears Investors Notebook Issue 424: 29 January 2020

Wed Jan 29 10:31:16 CAT 2020

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Bulls n Bears Investors Notebook Issue 424: 29 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

RBZ Must Remove "Ecocash Withdrawal Limits Which Constitute More Taxing To
The Ordinary Citizens," - Technomag

Technomag has urged the Reserve Bank of Zimbabwe to remove Ecocash
withdrawal limits currently pegged at $100 saying that they were causing
unnecessary pain to the general populace. The limits in question were
introduced by the central bank in the third quarter of last year and they
were premised at addressing money-laundering issues.
<http://www.bulls.co.zw/> Read more >

Hwange Local Board, Zinwa clash

Hwange Local Board and the Zimbabwe National Water Authority (Zinwa) are at
loggerheads, with the former accusing the water management body of using its
infrastructure to supply water to residents without paying to the local
authority. Hwange Local Board deputy chairperson Admire Munhenga told
Southern Eye last Friday that since Zinwa took over the supply of water, it
has not met its end of the bargain. <http://www.bulls.co.zw/> Read more >

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

BCC scouts for solar project investors

BULAWAYO City Council (BCC) has started scouting for potential investors to
bankroll its ambitious solar power project meant to ease the city's power
challenges. The plant would be located at the city's cemeteries, starting
with the de-commissioned Hyde Park cemetery. Mayor Solomon Mguni said the
project, mooted last year, was now on track after residents approved it in
the face of incessant electricity outages. <http://www.bulls.co.zw/> Read
more >

'Fiscal pressures to drive money supply, inflation'

PRESSURE to finance the importation of grain, electricity, fuel and
agricultural inputs is expected to push the government to print money to buy
foreign currency and increasing money supply, a stock broking firm has said.
The southern African nation is in the throes of its worst economic crises in
a decade with biting shortages of foreign currency, grain, fuel and rolling
power cuts that last up to 20 hours a day. Last June, authorities ended the
10-year use of multi-currency regime by reintroducing the Zimbabwe dollar,
the sole legal tender, which is fast-losing value since then.
<http://www.bulls.co.zw/> Read more >

Delta injects $11m into sorghum farming

DELTA Corporation has injected more than $11 million into its Beverages
Sorghum Contract Farming Scheme (BSCFS) during the 2019/2020 farming season,
as it moves to support local farmers. Delta requires about 11 400 tonnes of
red sorghum and 2 400 tonnes of white sorghum annually but requirements vary
every season, depending on projected domestic beer consumption levels. Delta
corporate affairs executive Patricia Murambinda told NewsDay Business that 6
949 farmers across the country had been contracted to produce sorghum this
season. <http://www.bulls.co.zw/> Read more >

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

Support local currency, SMEs urged   

SMALL-to-Medium Enterprises (SMEs) should take a proactive role in
supporting the local currency to strengthen and preserve its value against
major currencies to foster economic growth, a Cabinet Minister has said.
Women Affairs, Community, Small and Medium Enterprises Development Minister
Sithembiso Nyoni said this on Monday during a meeting with SMEs housed at
the Cold Storage Company old site in Bulawayo where the entrepreneurs had
invited her to hear their concerns. Following the coming into power of the
new political dispensation led by President Mnangagwa in November 2017, the
Minister said the prime focus of the Second Republic was to rebuild the
economy, which for close to two decades has been undergoing challenges.
<http://www.bulls.co.zw/> Read more >

Help industrialise nation, universities told   

Universities and colleges must have a mandate to modernise and industrialise
Zimbabwe and help revive the economy for the benefit of the people, through
a new beed of industry-oriented graduates, a Cabinet Minister said recently.
Addressing councillors during the commissioning of 16 members of the
Chinhoyi University of Technology (CUT) Fourth Council last week, Higher and
Tertiary Education, Innovation, Science and Technology Development Minister
Professor Dr Amon Murwira said as the nation drifts towards a middle income
economy by 2030, universities in the country should change their thrust and
help industrialise the nation. <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Call on beef industry to improve standards   

THE Zimbabwe beef and leather industry has been urged to improve its
standards for it to excel and compete in western markets. During a recent
private sector engagement with the business community in Bulawayo, European
Union (EU) Ambassador to Zimbabwe, Mr Timo Olkkonen, told captains of
industry that the country needed to improve its standards in the beef sector
for it to be competitive for European markets. "The standards put by the EU
are creating obstacles for Zimbabwe beef exports. On leather it is about
competitiveness, thus Zimbabwe should also strive to produce quality
products like Ethiopia which has excelled in the sector," said Ambassador
Olkkonen. <http://www.bulls.co.zw/> Read more >

Businesses to pay tax in forex   

THE Zimbabwe Revenue Authority (Zimra) has ordered businesses trading in
both Zimbabwe dollar and foreign currency to pay their taxes in foreign
currency. In June last year, the Government outlawed the use of the
multi-currency system through Statutory Instrument (SI) 142 of 2019, which
the country adopted in February 2009 at the height of hyperinflation. Last
September, the Government buttressed the aforementioned law by promulgating
SI 212/2019 to stop unscrupulous businesses from quoting, charging and
accepting payments in United States dollars or any kind of foreign currency.
<http://www.bulls.co.zw/> Read more >

Strengthen graft investigation tactics, Zim urged   

Zimbabwe must take a leaf from Uganda to strengthen its investigation
tactics and subsequent prosecution, to ensure convictions on cases of
corruption, Uganda's top anti-corruption judge has said. While several
high-profile corruption cases have been taken to the courts in Zimbabwe, the
conviction rate has remained low because of weak investigations and
prosecutions. In an interview in Harare yesterday after paying a courtesy
call on Chief Justice Luke Malaba at his chambers at the Constitutional
Court, Justice Lawrence Gidudu, who is in the country to train Zimbabwe's
Judiciary ahead of the establishment of anti-corruption courts, said Uganda
had a 95 percent conviction rate because of the training police, prosecutors
and judicial officers undertook in systematic detection and prosecution.
<http://www.bulls.co.zw/> Read more >

Simbisa, OK change Karoi's complexion   

The coming in of Simbisa Brands Zimbabwe (Chicken Inn and Pizza Inn) and OK
Zimbabwe Supermarket in Karoi, has changed the complexion of this usually
sleepy town, setting the stage for more investors to flood the area. Pick n
Pay, Farm and City and N Richards, have been major chain stores operating in
Karoi, but the coming in of Simbisa and OK Zimbabwe has seen the town
receiving a major face-lift. Karoi town secretary, Wellington Mutikani, said
the two major investors had not only amplified the level of confidence that
residents now had on their council, but had generated immense interest from
other big corporates wishing to setup businesses in the town..
<http://www.bulls.co.zw/> Read more >

Currency weakness chokes telcos   

The continued weakening of the Zimbabwean dollar against erratic tariff
reviews poses a serious threat to the viability of mobile network operators,
industry players have highlighted. Mobile Network Operators (MNOs) last
received a tariff review in October 2019 when their regulator, the Posts and
Telecommunications Regulatory Authority of Zimbabwe (Potraz), awarded a
95,39 percent tariff increase.. <http://www.bulls.co.zw/> Read more >

Zim among top five remittance destinations: Word Remit   

Global payments firm, World  Remit has revealed that Zimbabwe was one of
five top African destinations that  received most remittances in 2019.
Overall remittances channelled through the firm grew 49 percent during  the
period compared to the previous year. "The top five countries receiving
remittances from the diaspora in 2019  included Ghana, Kenya, Uganda,
Zimbabwe, with Nigeria receiving the most remittances," World Remit said in
a report. Latest figures released by the Reserve Bank of Zimbabwe show that
the country received US$504,7 million in remittances in the first half of
last year, down 13,2 percent from the same period in 2018.
<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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