Bulls n Bears Investors Notebook Issue 470: 26 March 2020

Thu Mar 26 04:22:45 CAT 2020

 <http://www.bulls.co.zw/> Bulls.co.zw
<mailto:info at bulls.co.zw?subject=View%20and%20Comments> Views & Comments
<http://www.bulls.co.zw/blog> Bullish Thoughts
<http://www.twitter.com/BullsBears2010> Twitter
<https://www.facebook.com/BullsBearsZimbabwe> Facebook
<http://www.linkedin.com/pub/bulls-n-bears-zimbabwe/57/577/72> LinkedIn
<https://chat.whatsapp.com/CF6wllAfScU9Wr6dXxoQnO> WhatsApp
<mailto:info at bulls.co.zw?subject=Unsubscribe> Unsubscribe

Bulls n Bears Investors Notebook Issue 470: 26 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

30-day financials reprieve for listed firms   

The Zimbabwe Stock Exchange (ZSE) has given a 30-day reprieve to listed
firms whose publication of financial results was initially due the end of
this month, as businesses across sectors have been severely disrupted by the
outbreak of the coronavirus (COVID-19). This means companies whose half year
or full year results to December 31, 2019 that were supposed to release
results by March 31, 2019 can now do so by April 30, 2019. This also comes
as listed companies have been issuing cautionary statements warning that
they may not be able to meet financial reporting deadline of March 31, due
to disruptions caused by Covid-19, prompting the local bourse to issue out
another 30 days for companies to finalise their financials.
<http://www.bulls.co.zw/> Read more >

'Dealers still diverting fuel'

These two fuel tankers have been parked for a week at a service station near
Wingate Golf club along Alps Road in Harare. The service station sells fuel
in foreign currency. Fuel dealers may still be withholding supplies procured
with foreign currency allocated by the Reserve Bank of Zimbabwe (RBZ) or
from other designated platforms, such as the interbank market, for
speculative reasons resulting in widespread shortage on the market, a
Cabinet Minister has said. As such, Government said the industry regulator
had been instructed to investigate and take stern measures against the
culprits in an effort to improve availability.  <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

AfDB facility attracts US$160m   

THE African Development Bank's facility for energy inclusion aimed at
supporting small-scale renewable energy projects across the continent has so
far attracted close to US$160 million in commitments. The facility for
energy inclusion (FEI) targets to raise US$400 million to improve access to
power across Africa through small-scale renewable energy and mini-grid
projects. "The African Development Bank (AfDB), the European Commission,
German Development Bank KfW, the Clean Technology Fund, Norfund, and other
investors have committed nearly US$160 million to the first close of the
FEI," said the regional financier in a statement. <http://www.bulls.co.zw/>
Read more >

Govt issues warning to mining companies   

Mining title owners who owe Government inspection fees and any related
mining rights dues will not be able to export their minerals as Government
moves in to recover its money. The Ministry of Mines and Mining Development
is owed "huge sums of money" from non payment of inspection and other access
service charges. This has resulted in Government failing to realise due
revenue from rich mineral deposits that abound in the country.
<http://www.bulls.co.zw/> Read more >

Zimra goes digital to curb Covid-19 spread   

THE Zimbabwe Revenue Authority (Zimra) has suspended manual clearance
processes in favour of digital services as it moves in to operationalise the
Government's national responsiveness plan to contain the spread of the
coronavirus (COVID-19) pandemic at the country's ports of entry. The revenue
authority said in a public notice that travellers and other clients among
them importers, exporters and customs clearing agents are encouraged to use
the e-services to minimise the interface with customs and excise officers.
All physical examinations on goods (inbound and out bound) and the clearing
of goods including vehicles under the Immigrant Rebate facility have been
suspended. <http://www.bulls.co.zw/> Read more >

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

MTN Uganda eliminates mobile money charges   

MTN Uganda, the country's largest telecoms firm, has eliminated some charges
on its mobile money platform to help spur greater use of digital
transactions and discourage the use of cash as a way to potentially slow the
spread of the coronavirus outbreak. The company, which has 8 million mobile
money users out of a total 13 million mobile phone subscribers, said it will
not levy any fees on money sent between customers on its platform Uganda has
so far recorded nine cases of COVID-19. The offer "is designed to reduce the
risk of transmission by avoiding the physical exchange of currency notes,"
MTN said in a statement issued late on Tuesday..  <http://www.bulls.co.zw/>
Read more >

Kariba upgrades vending stalls   

The upgrading of Nyamhunga market in Kariba will help in the fight against
coronavirus as vendors are being moved to ventilated and spacious sites.
Other towns in Mashonaland West Province have indicated that they were
looking into the volume of traffic at their markets, but ruled out immediate
closure. This comes as President Mnangagwa has indicated that Mupedzanhamo
and Mbare markets could be closed to limit the number of people crowding in
one place. Vendors initially resisted the move arguing that council had
sinister motives to close the market, as it had been sold to one of the
major retail chains.  <http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Vic Falls hotels shut down   

TOURISM operators and hoteliers in Victoria Falls have resolved to suspend
operations to prevent spread of the deadly Covid-19 (coronavirus), which has
seen the country recording three positive cases. Lately, players in the
industry have suffered massive cancellations of bookings resulting in room
occupancy rate dropping to average two percent in some hotels while others
are already at zero. Three quarters of jobs have since been lost after
employers terminated contracts while some workers have been sent on forced
leave or placed on half salary because of lack of business.
<http://www.bulls.co.zw/> Read more >

Govt seeks fund managers for Venture Capital   

GOVERNMENT says it has held talks with entities such as the Empowerment
Bank, Women's Banks, Small and Medium Enterprises Development Corporation
(SMEDCO), CBZ, Financial Securities Exchange (Private) Limited (FINSEC) and
Norfund as possible fund managers for the National Venture Capital Fund. A
total of $500 million has been set aside by Treasury in the 2020 national
budget for the establishment of a National Venture Capital Fund to finance
start-up projects by the youths. In a major development towards the
establishment of the fund, the finance secretariat said steps have been
taken to incorporate it as the National Venture Capital Company (NVCC), a
private limited company wholly owned by the Government.
<http://www.bulls.co.zw/> Read more >

Zim-SA transporters suspend services   

CROSS border transporters plying the Zimbabwe-South Africa route have
suspended services as SA is now under lock-down with effect from today. The
Zimbabwean Government closed borders to human traffic except returning
residents after the country reported its first death from Covid-19 on
Monday. Business Chronicle conducted a mini-survey of the bus operators and
Omalayitsha who indicated that business was already low as they were having
limited numbers of travellers booking or boarding. Some of the cross-border
transport operators that service the Bulawayo-South Africa route include
Bravo, Brooklyn, Revival Motors, Mzansi and Madlala Tours among others.
<http://www.bulls.co.zw/> Read more >

Govt introduces mandatory liming   

Contract farmers with acidic soils will be compelled to apply lime in the
next summer cropping season to derive maximum benefits from the expensive
fertilisers they apply. The Ministry of Lands, Agriculture, Water and Rural
Resettlement is set to roll out a policy of mandatory application of
agricultural lime to correct the soil pH since many Zimbabwean soils are
acidic. Soil pH is a measure of the quality of the soil and its ability to
avail nutrients to the crop. When pH is very low, less than 5,0, nutrient
uptake will be less than 45 percent, meaning 55 percent of the nutrients
will not be used by the crop and this results in losses.
<http://www.bulls.co.zw/> Read more >

Company challenges USD-Zimdollar ruling   

THE legal validity of a Supreme Court judgment which converted United States
dollar debts to the Zimdollar at a rate of 1:1 in line with Statutory
Instrument 33 of 2019, must be tested by a nine-judge panel of the
Constitutional Court, according to lawyers acting for NR Barber, a mining
company, locked in a fierce legal battle with Zambezi Gas Pvt Ltd. NR Barber
is basing its challenge on its submission that the Statutory Instrument was
unconstitutional and that it should have been declared so at the appeal
hearing which overturned a previous High Court ruling that debts in US
dollars retained their value in that currency.  <http://www.bulls.co.zw/>
Read more >

Metropolitan Bank launches telephone banking system   

Metropolitan Bank of Zimbabwe scored a first last night by launching a
telephone banking system allowing a client's banking transaction to be done
on the telephone. Metropolitan Bank opened its doors last year in January
and is the second bank in Africa after one in South Africa to offer
telephone banking. The general manager of the bank, Mr Lovemore Mango, said
it is an interactive voice response system to customer inquiries and is
available round the clock.  <http://www.bulls.co.zw/> Read more >

Zim introduces new transfer pricing return for taxpayers   

ZIMBABWE has introduced an advance version of the transfer pricing return
that taxpayers are directed to file with their annual self-assessment
corporate income tax return for the year ended 31 December 2019. Transfer
pricing is one of the most topical issues in the international tax discourse
and represents one of the highest risks to the tax bases of most developing
economies, including Africa.  <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 

Telephone:      <tel:%2B263%204%202927658> +263 4 2927658

Cellphone:      <tel:%2B263%2077%20344%201674> +263 77 344 1674

Alt. Email:       <mailto:info at bulls.co.zw> info at bulls.co.zw  

Website:
<http://www.google.com/url?q=http%3A%2F%2Fwww.bulls.co.zw&sa=D&sntz=1&usg=AF
QjCNH8LYgdY55h-XKseuM8Kpr-JKdfhQ> www.bulls.co.zw 

Blog:
<http://www.google.com/url?q=http%3A%2F%2Fwww.bulls.co.zw%2Fblog&sa=D&sntz=1
&usg=AFQjCNFoIy6F9IXAiYnSoPSgWDYsr8Sqtw> www.bulls.co.zw/blog

Twitter:         @bullsbears2010

LinkedIn:       Bulls n Bears Zimbabwe

Facebook:
<http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimba
bwe&sa=D&sntz=1&usg=AFQjCNGhb_A5rp4biV1dGHbgiAhUxQqBXA>
www.facebook.com/BullsBearsZimbabwe

Skype:         Bulls.Bears 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200326/e2613d72/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.jpg
Type: image/jpeg
Size: 30151 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200326/e2613d72/attachment-0005.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 30132 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200326/e2613d72/attachment-0006.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 23061 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200326/e2613d72/attachment-0007.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.jpg
Type: image/jpeg
Size: 30128 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200326/e2613d72/attachment-0008.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.jpg
Type: image/jpeg
Size: 4846 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20200326/e2613d72/attachment-0009.jpg>