Bulls n Bears Investors Notebook Issue 531: 07 July 2020

Tue Jul 7 10:22:08 CAT 2020

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Bulls n Bears Investors Notebook Issue 531: 07 July 2020

 <mailto:info at bulls.co.zw> 

Bulls 'n Bears Investors Diary: Today's Events

Ariston

AGM

Boardroom, 306 Hillside Road, Msasa Woodlands

07 Jul 2020 : 1100

Quotable Quote:

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

Life assurers bury funeral companies   

Zimbabwe's funeral assurance companies might struggle to remain viable as
they continue to lose business to life assurers, the Insurance and Pensions
Commission (IPEC) has warned. Although life assurers are within their rights
to write funeral business, the impact of traditional funeral assurers cannot
be ignored. The trend has been noticeable over the last few years, and
latest figures from the sector's regulators report on funeral assurance for
the quarter to March 31, 2020 points to a weakening funeral assurance
segment.  <http://www.bulls.co.zw/> Read more >

RBZ rejects $50m TBs   

The Reserve Bank of Zimbabwe (RBZ) last week rejected all $50 million worth
of bids for the 364-day Treasury Bills (TBs) the apex bank had floated in
order to raise funding to cover Government's expenditure needs arising from
the coronavirus. Although the bank managed to raise only $70 million, far
short of the amount it is         targeting, analysts believe the monetary
authorities will still be able to mobilise the required funds because
appetite in the market for the securities was high. The central bank had
sought to raise $500 million through 364 and 270-day TBs, but turned down
all bids for the longer dated paper after all the bidders quoted a "steep"
interest rate of 50 percent.  <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

Procurement authority seeks wider powers   

The Procurement Regulatory Authority  of Zimbabwe (PRAZ) said yesterday it
was seeking increased powers to enable it to effectively monitor public
procurement processes and to  also punish entities who flout tender
procedures. PRAZ (formerly the State Procurement Board) was created through
an Act of Parliament in 2017 and is mandated with supervising public
procurement proceedings to ensure transparency, fairness, honesty,
cost-effectiveness and competition.  <http://www.bulls.co.zw/> Read more >

Prospect appoints advisor for disposal of Arcadia Lithium project   

African lithium developer, Prospect Resources, has appointed Renaissance
Capital as financial adviser in relation to the potential sale of its
interest in Arcadia Lithium Project to Russian energy firm, Uranium One.
Arcadia Lithium is Prospect Resources' 87 percent owned flagship project
located on the outskirts of Harare in Zimbabwe. On 12 December 2019,
Prospect Resources (Prospect) announced it had entered into a Memorandum of
Understanding ("MOU") with Uranium One Group JSC ("Uranium One").
<http://www.bulls.co.zw/> Read more >

AfDB, WTO collaborate to bridge trade finance gap   

The African Development Bank Group has joined the World Trade Organisation
and other multilateral development banks to reduce trade finance gaps that
emerge as a result of the Covid-19 pandemic. Since the beginning of the
Covid-19 pandemic outbreak in December last year, multilateral development
banks have stepped up their trade finance programmes to support essential
imports and key exports, as international corresponding banks have cut
lending in many countries. In a joint statement, the two institutions said
they would prioritise their support to areas in the world where such support
is needed most, particularly the poorest countries.
<http://www.bulls.co.zw/> Read more >

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

Govt condemns SMEs poor working conditions - Players in sector suffer
reduced life expectancy   

A SURVEY conducted by Government has shown that life expectancy for many
people in the small to medium enterprises (SMEs) category is short when
compared to other sectors because of inhuman conditions they operate under.
These include long hours in the sun and dust in unserviced areas without
ablution facilities and adequate infrastructure. Thousands in the informal
sectors are normally allocated vending bays or allowed to operate on open
streets and pavements where they inhale dust.The vendors are then forced to
make temporary structures to protect themselves and their wares from the
harsh weather conditions.  <http://www.bulls.co.zw/> Read more >

Tourism operators prepare for reopening   

HOTELS and restaurant operators are beginning to make plans to reopen as the
tourism sector begins to awaken following relaxation of lockdown rules by
Government last week. This comes as MARS has launched free testing of
tourism workers in Victoria Falls after securing 600 test kits. The tourism
sector is among the economic sectors worst affected by Covid-19, which led
to international travel bans and subsequently a total shutdown of the
industry, with eateries, hotels and activities being closed for a minimum of
three months.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Turnall board chair retires   

LISTED building materials manufacturer, Turnall Holdings' board chairperson,
Mrs Rita Likukuma, has retired from the company. In a public notice, the
company announced that Mrs Likukuma retired by rotation at the Annual
General Meeting held on June 30. "The Turnall Holdings board would like to
advise board members that Mrs Rita Likukuma retired by rotation at the
Annual General Meeting on the 30th of June 2020 and did not offer herself
for re-election. The board, management and staff would like to thank Rita
for her many years of dedicated service and commitment to Turnall," said the
company.  <http://www.bulls.co.zw/> Read more >

Dairibord increases employee share ownership   

DAIRIBORD Holdings Limited has increased shares for its employee share
ownership trust to 17,9 million from 10 million after the group's
shareholders passed the resolution at the Annual General Meeting in Harare
last week. Sometime last month, Dairibord announced that its directors were
seeking permission at the AGM to approve the reservation of 7 900 043
ordinary shares out of the authorised unissued share capital. The move was
such that the number of shares held by the trust in the company increases
from 10 million shares to 17 900 043 shares.  <http://www.bulls.co.zw/> Read
more >

Flower & curio vendors back, add glamour to Bulawayo City Hall   

Mr Obert Ngirandi (65) sold his first bouquet of flowers in Bulawayo in 1988
and has never looked back. The flower vendor sells an assortment of fresh
and artificial flowers. He knows how to deal with his clients - those who
come for flowers for happy occasions, celebrations and others who are
bereaved and need a wreath to lay on the graves of loved ones. He knows how
to switch his mood from sombre to blissful, depending on the situation.
<http://www.bulls.co.zw/> Read more >

Gwanda community moan over overcharging illegal transporters   

PEOPLE in Gwanda rural, Matabeleland South are facing a serious transport
shortage as some transporters are taking advantage of the limited number of
public service vehicles that are operating during the prevailing lockdown to
overcharge. With operations of most bus companies suspended, most people are
being forced to rely on a limited number of taxis and kombis which are
operating illegally that have pegged their fares in rands. The transporters
only travel along main roads, leaving villagers that stay in remote parts
stranded. Since their operations are illegal, the transporters drop off
passengers about six kilometres out of Gwanda Town to complete their journey
on foot in order to evade police roadblocks.  <http://www.bulls.co.zw/> Read
more >

Farmers to get hay for livestock   

THE Department of Livestock in Matabeleland South Province has started hay
baling to supply livestock farmers with feed at an affordable cost in order
to reduce animal deaths this year. Last year the province lost more than 26
000 head of cattle to poverty deaths between June and early December. Most
areas in the province have poor pastures as a result of low rains that were
received during the last rainy season. In an interview, Matabeleland South
Acting Provincial Agricultural Officer, Mr Mkhunjulelwa Ndlovu said they had
put in place strategies to reduce the number of livestock deaths. He said
the most affected area is Beitbridge followed by Gwanda South, Matobo,
Mangwe, Bulilima West and Insiza South.  <http://www.bulls.co.zw/> Read more
>

US$153m airport expansion on course   

THE US$153 million Robert Gabriel Mugabe International Airport expansion
project is on course despite delays caused by the Covid-19 pandemic with the
contractor Jiangsu International of China having completed 27 percent of the
work. Expansion will see the construction of the international terminal
building and aprons, installation of four new bridges, a secondary radar
system, construction of a VVIP pavilion and an airfield ground lighting and
communication system. The international terminal building and the domestic
terminal building will also be refurbished, with the project increasing the
airport's holding capacity to six million people per annum from 2.5 million.
<http://www.bulls.co.zw/> Read more >

Bakers reduce bread price   

Bread prices had slumped by around $10 a standard loaf with prices in the
$55 to $68 range depending on brand yesterday after the Reserve Bank of
Zimbabwe ensured millers could import wheat with foreign currency supplied
at the ruling auction rate. Last week, the Grain Millers Association of
Zimbabwe (GMAZ) announced that millers would reduce the price of the flour
and that in future flour prices would track the standard auction rate.
Supermarkets and shops still have variations in the price of a standard loaf
from the big three commercial bakers of Lobel's, Proton and Bakers Inn,
ranging from $66.90 to $68.43 depending on how they apply mark-ups, with
in-house brands being sold for as low as $55.  <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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