Bulls n Bears Investors Notebook Issue 466: 20 March 2020

Fri Mar 20 03:55:08 CAT 2020

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Bulls n Bears Investors Notebook Issue 466: 20 March 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

Joburg Stock Exchange Lose R4 Trillion Due To The COVID-19 Pandemic

The JSE has reportedly lost a whopping R4 Trillion Rands since the year
started due to the COVID-19 Pandemic, SABC reports. COVID-19 has claimed the
lives of over 9000 since its outbreak in December 2019. According to the
publication: More than R4 trillion has been lost on the local index since
the start of the year, seeing the JSE All Share slip 24% since the start of
the year.  <http://www.bulls.co.zw> Read more >

Technical committee for Invictus oil and gas project set   

GOVERNMENT has set up a technical committee to undertake the negotiations
for a production sharing agreement involving Geo Associates (Pvt) Limited,
Invictus Energy's subsidiary and One-Gas Resources (Pvt) Limited. Invictus
Energy, the Australia Stock Exchange-listed entity is undertaking oil and
gas exploration works at the Cabora Bassa project in Muzarabani, Mashonaland
Central. In an update on Wednesday the company said it has made
"significant" progress with the Government through numerous meetings and
presentations conducted in the past few weeks. <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

ZITF to engage exhibitors over showcase postponement   

THE Zimbabwe International Trade Fair (ZITF) says it will be rolling out
engagement sessions with exhibitors, buyers and key stakeholders following
the postponement of its prime trade showcase due to the COVID-19 outbreak.
On Tuesday, the Government announced the move to defer the ZITF, which was
scheduled for April 21 to 25, as well as this year's national independence
celebrations.  Both were scheduled for Bulawayo next month. The cancellation
of national events and public gatherings is part of comprehensive measures
adopted by Government to avert the spread of the deadly pandemic into the
country.  <http://www.bulls.co.zw> Read more >

Edgars defers publication of annual financial report   

LISTED clothing manufacturer and retailer, Edgars Group, has deferred
publishing its financial results for the 52-week period ended January 5,
2020. The group's year-end results were due end of this month as per the
Zimbabwe Stock Exchange (ZSE) listing rules. In a notice to shareholders
yesterday, the firm said the delay was a result of IAS 29 process that will
take longer than anticipated. The IAS 29 Financial Reporting in
Hyperinflationary Economies is an international accounting standard that
applies where an entity's functional currency is that of a hyperinflationary
economy. The standard does not prescribe when hyperinflation arises but
requires the financial statements of an entity with a functional currency
that is hyperinflationary to be restated for the changes in the general
pricing power of the functional currency. "We would like to assure our
stakeholders that we will be publishing our year-end results by no later
than 30 April 2020," said Edgars. <http://www.bulls.co.zw> Read more >

Gold mine in record output

GWANDA-based mining firm, Blanket Mine, produced a record 16 876 ounces in
the fourth quarter ended December 31, 2019, representing a 13 percent
increase from 14 952 ounces in the comparative period backed by improved
efficiencies. In a trading update, chief executive officer Steve Curtis said
on-mine costs per ounce declined to US$651 in 2019 from US$690 in 2018 owing
to lower electricity costs in the first quarter and lower on-mine
administration costs due to the devaluation of the local currency.
<http://www.bulls.co.zw> Read more >

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

Zimbabwe adopts new agric recovery strategy   

GOVERNMENT has adopted a new conservation agriculture model called,
Pfumvudza/Intwasa, that seeks to increase household food security across
provinces through commercialising small holder farming. Developing robust
agriculture value chains and channelling adequate support to specialised
farming segments are at the heart of the model, which is expected to assist
the country to trim the food import bill.  The model involves holing out and
mulching on farms to boost output in light of the continued reduction in
crop production. Like most countries in the Sub-Saharan Africa region and
beyond, Zimbabwe has not been spared from the adverse effects of climate
change that have caused output in the agriculture sector to decline.
<http://www.bulls.co.zw> Read more >

Govt mulls Charles Prince Airport upgrade   

Government is considering upgrading Charles Prince Airport in Harare under
the Airport Development Master Plan, Transport and Infrastructural
Development Minister Joel Biggie Matiza has said. He said airports were
important in building a nation's economy, hence the need to keep them up to
standard. Minister Matiza made the remarks on the sidelines of a
familiarisation tour at Charles Prince Airport yesterday. "The tour was
meant to see the state of our airport here and what is needed to be done to
upgrade it. I have been told of various challenges it is facing. There is
need for an upgrade of this place," he said. "Government has an Airport
Development Master Plan which is aimed at developing and upgrading airports
and Charles Prince will benefit from that. The airport has potential to
bring in revenue and we need to harness that potential.
<http://www.bulls.co.zw> Read more >

 <mailto:info at bulls.co.zw> 

Willdale eyes Zambia, Mozambique   

Zimbabwe Stock Exchange listed manufacturer of a wide range of bricks,
Willdale Bricks, is contemplating opening up new markets in Zambia and
Mozambique to expand its clientele base. The company produces common bricks,
face bricks, semi-faced bricks, pavers and other related brick products for
the construction industry. It is the name behind major successful projects,
which it supplied with bricks that include some office building in Central
Harare and beyond. Willdale had never been into the export business given
strong local demand for quality clay bricks and a rather weak demand in
nearby potential export markets. .  <http://www.bulls.co.zw> Read more >

New banana varieties for Rusitu Valley   

Government, through Agritex, has partnered Care International to improve the
quality of bananas produced in Rusitu Valley, Chimanimani, and boost
revenues for the farmers. Rusitu Valley is one of the country's biggest
banana producing areas and sustains hundreds of small-scale farmers who have
grown the crop since time immemorial. A major chunk of the crop was affected
by mudslides that occurred during Cyclone Idai-induced floods in March last
year. The floods flattened a significant number of trees and uprooted some,
and in most cases, it washed away the fertile top soil which affected the
quality of the crop being produced.  <http://www.bulls.co.zw> Read more >

New energy policies set tone for green future   

PRESIDENT Mnangagwa yesterday launched two energy policies, effectively
setting the tone for the development and sustainable exploitation of
renewable energy. The National Renewable Energy policy and Biofuels policy
of Zimbabwe seek to promote optimal supply and utilisation of energy for
socio-economic development. Government is seeking to prioritise the
exploitation of renewable energy and a guideline on its structure. The main
objectives of the launch were to present both policies to key stakeholders,
forge stronger relationships, showcase renewable energy companies as well as
to present the roadmap for strategies.  <http://www.bulls.co.zw> Read more >

'No going back on land reform, Zimdollar'   

President Mnangagwa on Wednesday stressed that land reform was irreversible
and the Government would not substitute the local currency - the Zimbabwe
dollar - despite machinations to destabilise and destroy it. He made the
remarks when he addressed a rally at Bumhira Secondary School in Nyanga
North after having commissioned Nyakomba Irrigation Scheme earlier in the
day. President Mnangagwa's remarks come in the wake of a recent move by the
Government to enact a law which invoked a clause stating that indigenous
farmers whose farms were appropriated by Government under the Fast-Track
Land Reform Programme can now apply to repossess their land under the
newly-gazetted regulations. Farms which were protected under Bilateral
Investment Protection and Promotion Agreements (BIPPAs) and Bilateral
Investment Treaties (BITs), including those owned by indigenous corporates,
could also be returned to their previous owners upon application for
repossession. <http://www.bulls.co.zw> Read more >

SA supermarkets limit food purchases   

South Africa's biggest supermarket Shoprite will limit purchases of some
food products and medicines, it said yesterday, as frantic shoppers stripped
shelves to prepare for possible isolation during the coronavirus outbreak.
As the spread of the infection triggers panic buying across the world, South
African retailers are saying they are working with their suppliers to ensure
a consistent supply of products like meat and canned food, and medicine.
Countries across Africa reporting their first coronavirus cases have seen a
rush on shops, with customers piling trolleys with wipes, sanitiser, and
staples like rice and long-life milk. <http://www.bulls.co.zw> Read more >

Afdis volumes slide   

Local businesses continue to feel the strain of the present economic
environment, with African Distillers Limited (Afdis), recording a 35 percent
decline in total volumes for the half year to December 31, 2019 compared to
same period in the prior year, as consumer demand wanes. During the period
under review, the economy was battling foreign currency shortages and high
inflation that resulted in serious erosion of disposable incomes. Market
watchers have previously argued that products like Afdis' wines and ciders,
aimed at middle-income to high-income earners are likely to remain unmoved.
But the past year has seen prices of goods significantly go up due to
inflation, severely cutting on most consumers' spending power.
<http://www.bulls.co.zw> Read more >

Emirates cancels Zim flights   

LEADING international airline, Emirates, has suspended flights from Harare
to Lusaka and then Dubai and back from 20 March to 20 May as part of
measures to curb the spread of Covid-19. In a statement, Emirates said the
move was in response to the prevailing global conditions following the
outbreak of Covid-19, which has spread across the globe and has so far
killed more than 8 000 people. The pandemic has disrupted trade and
international exhibitions and business engagements. Most countries have
effected travel restrictions as part of measures to curb the spread of
Covid-19.  <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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