Bulls n Bears Investors Notebook Issue 528: 01 July 2020

Wed Jul 1 10:57:02 CAT 2020

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Bulls n Bears Investors Notebook Issue 528: 01 July 2020

 <mailto:info at bulls.co.zw> 

Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

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

Zimbabwe central bank raises main lending rate to 35% as inflation soars

(Reuters) - Zimbabwe's central bank will raise its main lending rate to 35%
from 15% from Wednesday to curb speculative borrowing, its governor said, as
the country grapples with soaring inflation. "In order to curb speculative
borrowing, the Monetary Policy Committee resolved to increase the bank
policy rate from the current 15% to 35%, with effect from 1 July 2020,"
Mangudya said. Zimbabwe last recorded inflation at 785%, while the Zimbabwe
dollar plunges.  <http://www.bulls.co.zw/> Read more >

ZSE Traders Inundated With Calls From "Shocked & Stressed" Investors -
Report

Investors are reportedly shocked and stressed by the government's decision
to suspend trading on the ZSE following Friday's announcement by the
Information Ministry's secretary Nick Mangwana that the government was
ordering the stock exchange to suspend trading until further notice, New24
reports. Imara Edwards Securities, MD Thedias Kasaira while speaking to the
publication said they were having a hard time explaining to investors what
happened: Clients are asking and we don't know what to tell them. They want
an explanation, but we haven't been able to give one as we also don't know
the reason.  <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

Lockdown: Tourism gets partial relaxation   

Lockdown regulations for the tourism and hospitality sector have been
partially relaxed by Cabinet so these two sectors, the most severely hit by
Covid-19, can carefully and safely resume limited operations. Restaurants
are now allowed to serve sitting customers within their premises, but using
only half their licensed capacity, while safari operations and national
parks are allowed to re-open to help boost domestic tourism.
<http://www.bulls.co.zw/> Read more >

Zimbabwe Official Exchange Rate Jumps To Z$63.7 Following Forex Auction

The official foreign exchange rate for the United States Dollar (USD) to the
Zimbabwe Dollar has now moved to US$1: ZWL$63.74. This comes after the
country held the second edition of the Reserve Bank of Zimbabwe's forex
auction system. The inaugural edition of the forex auction system was held
last week and saw the official exchange rate move from ZWL$25 for every USD
to ZWL$57.36 for every dollar. The weighted average of ZWL$63.74 for every
US dollar, will be the official exchange rate until the next auction next
week Tuesday. US$16.32 million dollars was allocated to buyers with the
highest bid coming in at ZWL$92 while the lowest bid came in at ZWL$37.82.
<http://www.bulls.co.zw/> Read more >

Caledonia Mining lifts dividend again taking payout gains to 24% since
October

CALEDONIA Mining Corp., the Zimbabwe gold miner, said another lift in its
quarterly dividend payment reflected its "continuing confidence" in its
prospects notwithstanding the COVID-19 pandemic and significant national
headwinds. The company declared an 8.5 US cents per share payout for the
second quarter which is 13% higher than the 7.5c/share it paid for the first
quarter. It takes the total lift in the dividend payment to 24% since
October.  <http://www.bulls.co.zw/> Read more >

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

Post-vehicle clearance audit unearths US$70m hole   

A special post-vehicle clearance audit last year into vehicle imports,
unearthed 485 irregular import documents with a potential revenue inflow
prejudice to Treasury valued at US$70 million, the Zimbabwe Revenue
Authority (Zimra) revealed. Most of the vehicles, Zimra said, were luxury
cars against which investigations have been instituted along with efforts to
recover the outstanding amounts due to the authority. The audit was done as
part of wide-ranging measures implemented by the tax authority to plug all
revenue leakages and maximise collections, Zimra Commissioner-General Faith
Mazani said at the authority's annual general meeting (AGM) last week.
<http://www.bulls.co.zw/> Read more >

Shamva Gold Mine reopens   

SHAMVA Gold Mine has reopened after Landela Mining Venture acquired and
injected fresh capital into the business, previously owned by Metallon
Corporation. "We are almost one month into production and we are now
focusing on growth," Landela chief executive Mr David Brown told The Herald
Finance and Business yesterday. Metallon suspended operations at three of
its mines including Shamva and Mazowe last year due to mounting debts
estimated at US$200 million. The Associated Mine Workers Union of Zimbabwe
applied for the reconstruction order of the two mines while Mr Reggie
Saruchena of Grant Thornton was appointed the interim corporate rescue
administrator. Dr Cecil Madondo of Tudor Consultants was also appointed to
deputise him for purposes of rescuing the two mines.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Zim can manage debt: Experts   

Zimbabwe can significantly narrow its debt if the country manages its vast
natural resources in a more sustainable manner, experts have said. The
country is saddled with an unsustainable debt, which has negative effects on
the economy and citizens. This has now been worsened by the obtaining
Covid-19 pandemic, which has affected economies across the globe and is
expected to cause further damages to an already constrained economy battling
with foreign currency shortages, poor utilities supplies and waning
disposable incomes due to high inflation.  <http://www.bulls.co.zw/> Read
more >

Starafricacorporation granted one month reprieve by ZSE   

Sugar producer, Starafricacorporation Limited (SACL) said yesterday it had
been  granted a one month reprieve by the Zimbabwe Stock Exchange (ZSE) to
publish its annual financial results after failing to  meet the June 30
deadline. Depending on their financial year end, all listed firms have to
publish their half or full-year results three months after the close  of the
reporting period. But SACL said the outbreak of the coronavirus inspired
national  lockdown had impacted on the production of its financials and
applied  for an extension.  <http://www.bulls.co.zw/> Read more >

'Take fish farming as business'   

UNIVERSITIES and other private players must seriously look into research and
formulate cost-effective fish feed so that Zimbabweans can profitably embark
on fish farming for their livelihoods and other nutritional benefits, First
Lady Auxillia Mnangagwa has said. Speaking at the graduation ceremony of 40
women and youths who were presented with certificates in fish farming in
Harare yesterday, the First Lady said Zimbabwe had potential to reap immense
benefits from fish farming, although there was need to look at the cost of
feed.  <http://www.bulls.co.zw/> Read more >

Wheat farmers eye bumper harvest   

The largest-ever wheat crop planted in Zimbabwe is generally in good
condition and growing well, with farmers expecting a good harvest, thanks to
Zesa's uninterrupted power supply allowing continuous irrigation. Farmers
are following their irrigation schedules seamlessly, with only a few being
affected by power cuts owing to electrical faults. Despite recent droughts,
there is enough water available for the 80 000ha planned.
<http://www.bulls.co.zw/> Read more >

Masvingo winter maize project to meet target   

Masvingo Development Trust (MDT) has allayed fears over delays in rolling
out this year's winter maize project, with Government confirming that
everything was in place to meet the 3 000 hectares target. This year's
winter maize initiative seeks to increase the area to be put under maize and
traditional grains by almost 10-fold to help beat recurrent food shortages
caused by climate change-induced droughts. The development comes as the
trust also revealed it had made a net profit of more than $15 million from
last year's winter crop, grown on only 327ha.  <http://www.bulls.co.zw/>
Read more >

Agric show moved to October   

The 110th Zimbabwe Agricultural Show in Harare has been provisionally set
for end of October, with the authorities reducing the number of exhibitors
participating in the annual event to 600, limiting visitors to 500 an hour,
and enforcing high levels of social distancing and protective clothing.
Exhibition days have also been reduced to four from the traditional six, to
reduce risks of Covid-19 infection. The annual agriculture show is normally
held round about the end of August.  <http://www.bulls.co.zw/> Read more >

Agribank's funding of farming hailed   

Agribank has done well to fund agriculture under challenging circumstances
and Government plans to continue providing resources to the bank to increase
production. Deputy Accountant General Mrs Memory Mukondomi, who was
representing the Secretary for Finance and Economic Development, Mr George
Guvamatanga, yesterday told Agribank's annual general meeting in Harare:
"Yes, we are happy with the role that Agribank is playing in supporting our
agriculture. We will continue to support the bank so that it supports more
farmers.  <http://www.bulls.co.zw/> Read more >

INVESTORS DIARY 2020

Company

Event

Venue

Date & Time

Ariston

AGM

Boardroom, 306 Hillside Road, Msasa Woodlands

07 Jul 2020 : 1100

Dawn Properties

AGM

Ophir Room, Monomotapa Hotel, 54 Park Lane

09 Jul 2020 : 0900

Mash

AGM

Virtual, Boardroom, 19th Floor, ZB Life Towers, 77 Jason Moyo Avenue

09 Jul 2020 : 1200

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.

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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