Bulls n Bears Investors Notebook Issue 535: 14 July 2020

Tue Jul 14 07:51:25 CAT 2020

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Bulls n Bears Investors Notebook Issue 535: 14 July 2020

 <mailto:info at bulls.co.zw> 

Bulls 'n Bears Investors Diary: Today's Events

ZPI

AGM

virtual

14 July 2020 | 12pm

Quotable Quote:

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

Old Mutual Zim issues vague statement addressing delisting allegations

There have been reports that Old Mutual Zimbabwe had been delisted from the
ZSE because they were accused of being a big contributor in the economic
turmoil we (Zimbabweans) find ourselves in at the moment. The reports
started a few days ago, when Patrick Chinamasa speaking in his capacity as
ZANU-PF spokesperson endorsed the decision to delist Old Mutual on the basis
that the company was fuelling "runaway inflation through illegal parallel
exchange-market rates".  <http://www.bulls.co.zw/> Read more >

Zimbabwean Bankers Want Some Pay in Dollars as Inflation Soars

Bankers in Zimbabwe are demanding that part of their salaries be paid in
dollars to cushion themselves against soaring inflation and a depreciating
currency. Workers are asking that their pay be based off what they were
earning in 2018, Shepard Ngandu, assistant secretary-general of the Zimbabwe
Banks and Allied Workers' Union, said by phone on Monday. Receiving pay in
the local currency is of no value because of the dollarization seen in the
economy, he said.  <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

Olivine yet to receive US$8m AfDB loan   

OLIVINE Industries Ltd, a local unit of Wilmar International, is yet to
receive US$8.25 million loan it secured from African Development Bank (AfDB)
about four months ago because the regional banking group is waiting for a
plan on how the Reserve Bank of Zimbabwe intends to clear the debts owed to
foreign supplies by local companies. In July last year, after the
introduction of the interbank rate and conversion of bank balances to
Zimbabwean dollars, the central bank assumed the legacy foreign debts of
some corporates.  <http://www.bulls.co.zw/> Read more >

Millers propose to pay maize farmers in USD   

The Grain Millers Association of Zimbabwe (GMAZ), is seeking permission from
the Government to buy maize directly from farmers and pay them in US dollars
as part of empowering the local producers. So far, the Government through
the Grain Marketing Board (GMB) is the exclusive buyer of maize produced in
the country. Following the devastating effects of Cyclone Idai that hit the
eastern parts of the country in 2018 and erratic rains last year, Zimbabwe
has been importing maize from around the world to cover the deficit.
<http://www.bulls.co.zw/> Read more >

Glytime Foods enters Zambian market   

Agro-processor Glytime Foods has made a foray into the export markets,
initially securing a contract to supply its products into Zambia. The
company specialises in the manufacturing of honey and healthy cereals.
Glytime chief executive Lesley Marange, said the Zambian deal will see the
company supplying 40 tonnes of honey monthly to that market.
<http://www.bulls.co.zw/> Read more >

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

Devolution funds spur development   

LOCAL authorities in the Midlands Province yesterday hailed the central
Government for allocating them funds under devolution, which have
transformed many lives in communities. In separate interviews, officials
from across the province said some local authorities had exhausted their
allocations and were now waiting for new disbursements to complete
outstanding projects. Shurugwi District Development Coordinator, Mr Langton
Mupeta said: "There were some suburbs that had gone for a long time without
running water and the town council used the bulk of the funds they received
under devolution to embark on the Sebanga water project and there is now
running water in all the suburbs.  <http://www.bulls.co.zw/> Read more >

Bindura tobacco floor brings relief   

Bindura contract tobacco floor was officially opened yesterday, bringing
relief to farmers who used to travel to Harare to sell their crop. The
commissioning of the floor opened opportunities for investment in tobacco
processing plants in the province. About 350 bales of tobacco were delivered
to the floor with one farmer's crop fetching US$5.50 per kilogramme, which
was the highest for the day. Although the auction floor opened in the middle
of the tobacco selling season, the contractor Curverid Tobacco is expecting
to buy over six million kilogrammes.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Mash West agro-conference on cards   

Plans to hold the first ever agro-business seminar for Mashonaland West
Province are at an advanced stage. The provincial leadership recently held a
meeting to finalise modalities for the seminar, which is aimed at ensuring
increased agricultural production across the province. Zanu PF's provincial
chairperson Cde Ziyambi Ziyambi said the provincial leadership recently
deliberated on the seminar during the coordinating committee and resolved to
invite a number of investor who would want to venture into agribusiness
around the province. He said they intend to make the province a net exporter
of oranges with Chegutu district famed for having the best quality in the
world being at the Centre of this drive.  <http://www.bulls.co.zw/> Read
more >

Time to revive housing fund   

THE Government has a lot of instruments at its disposal that have all the
ingredients to stimulate housing development. Could it be a matter of
under-capitalisation or underutilisation to realise their potential in the
housing delivery discourse? Could it be failure by those holding the purse
to appreciate the results chain of recapitalising the same to great effect?
In an article titled; "Whither construction sector?" published in The Herald
on June 30, 2020, I expounded on the potential much needed employment. I
stick to the argument that housing is an engine for economic growth,
provided we all put our hands on the deck on the same wavelength.
<http://www.bulls.co.zw/> Read more >

Farmers paying the price for lacking innovation   

THE difficult economic terrain we are traversing as a country requires fresh
produce farmers to find ways of remaining on the cutting edge and employing
new solutions their markets have not seen before. Essentially, it does not
require rocket science for one to realise that everything happening now is
just not what it is expected to be - there is the volatile inflation to
contend with on the one hand and the Covid-19 pandemic on the other that all
makes it very difficult for such farmers to conduct their business
profitably.  <http://www.bulls.co.zw/> Read more >

Millers propose to pay maize farmers in USD   

The Grain Millers Association of Zimbabwe (GMAZ), is seeking permission from
the Government to buy maize directly from farmers and pay them in US dollars
as part of empowering the local producers. So far, the Government through
the Grain Marketing Board (GMB) is the exclusive buyer of maize produced in
the country. Following the devastating effects of Cyclone Idai that hit the
eastern parts of the country in 2018 and erratic rains last year, Zimbabwe
has been importing maize from around the world to cover the deficit. The
Government has given private companies and individuals with free funds the
greenlight to import maize around the world.  <http://www.bulls.co.zw/> Read
more >

Gold mines lure offshore investor

ZIMBABWE'S biggest gold mines are being snapped up by Mauritius-based Sotic
International as the price of bullion soars to the highest in more than
eight years. Landela Mining Ventures, which is controlled by Sotic, bought
two of Zimbabwe's gold mines this year. The newcomer is targeting six more
mines, including four defunct state-owned operations, said Sotic chief
executive officer, Mr David Brown. That expanding mining portfolio has
strategic importance as gold is the biggest source of dollars in the
country. "Gold is a commodity with potential positive impacts," Mr Brown
told Bloomberg in a recent phone interview from Johannesburg.
<http://www.bulls.co.zw/> Read more >

Govt sets manufactured exports target   

GOVERNMENT expects local industries to ramp up domestic production to
achieve a 30 percent target for manufactured exports, which are critical in
generating forex earnings and attaining favourable trade balance. Reliance
on non-essential imports has over the years drained the scarce foreign
currency leading to reduced domestic capacity utilisation and loss of jobs.
The trend has prompted Government and the private sector to focus on import
substitution aimed at reducing the import bill by boosting local production.
<http://www.bulls.co.zw/> Read more >

Africa Albida Tourism resumes operations   

ZIMBABWEAN hospitality group, Africa Albida Tourism (AAT), says it has put
in place adequate safety measures in compliance with recommended health
protocols as it reopens some of its facilities. The group which has Victoria
Falls Safari Lodge, Victoria Falls Safari Club, Victoria Falls Suites,
Lokuthula Lodges and the Boma-Dinner and Drum Show, is one of the leading
players in the country's tourism sector. The group closed its facilities in
March and reopened on Thursday last week following Government decision to
partly open the tourism sector by allowing game parks, restaurants and
safaris to reopen for domestic clients.  <http://www.bulls.co.zw/> Read more
>

INVESTORS DIARY 2020

Company

Event

Venue

Date & Time

ZPI

AGM

virtual

14 July 2020 | 12pm

GB Holdings

AGM

Cernol Chemicals Boardroom, Willowvale

15 July 2020 | 11:30am

TSL

AGM

virtual

15 July 2020 | 12pm

BAT

AGM

Cresta Lodge, Msasa

16 July 2020 | 10am

African Sun

AGM

Virtual

16 July 2020 | 12pm

Masimba

AGM

Virtual

21 July 2020 | 12pm

Proplastics

AGM

Virtual

23 July 2020 | 10am

NMB

AGM

Virtual

28 July 2020 | 10am

FMP

AGM

Ground Floor, First Mutual Park, 100 Borrowdale Road, Borrowdale

29 July 2020 | 9:30am

FML

AGM

Ground Floor, First Mutual Park, 100 Borrowdale Road, Borrowdale

29 July 2020 | 11:30am

ZBFH

AGM

Board Room, 21 Natal Road, Avondale

30 July 2020 | 10:30am

OK Zimbabwe

AGM

Virtual

30 July 2020 | 3pm

ZHL

AGM

virtual

31 July 2020 |

Delta

AGM

Virtual, Head Office, Northridge Close, Borrowdale

31 July 2020 | 12:30pm

Zimbabwe

National Heroes Day

Zimbabwe

10  August 2020

Zimbabwe

Defence Forces' Day

Zimbabwe

11  August 2020

CBZ

AGM

Virtual

14  August 2020 | 6pm

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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