Bulls n Bears Investors Notebook Issue 491: 06 May 2020

Wed May 6 09:58:54 CAT 2020

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Bulls n Bears Investors Notebook Issue 491: 06 May 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

Local firm buys Zimglass for US$22m   

LOCAL firm, Brainman Investments, has acquired Zimbabwe Glass Holdings
(Zimglass) for US$22 million in a development likely to pave way for the
revival of the country's sole glass manufacturer. Zimglass was owned by
state-owned Industrial Development Corporation of Zimbabwe, which is in the
processing of restructuring some of its subsidiaries and associate firms.
The restructuring is not only confined to total disposal of subsidiaries and
associate companies, but also entails liquidation, privatisation and partial
privatisation. Zimglass was under final liquidation.
<http://www.bulls.co.zw/> Read more >

IADI core principle 13: Early detection, timely intervention   

The Core Principles for Effective Deposit Insurance Systems (Core
Principles) state that a deposit protection agency should be part of a
financial safety net framework that deals with early detection and timely
intervention in troubled banks. The framework should be crafted in such a
way that it allows for intervention well in advance before the contributory
institution becomes non- viable. Such actions should protect depositors and
contribute to financial stability. The principal objective of the Deposit
Protection Corporation (DPC) is to contribute to financial system stability
by promoting public confidence and promptly compensating depositors, thus
preventing individual bank failures from escalating into a systemic banking
crisis.  <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

Zupco brings back kombis   

Zupco is bringing its 500 franchised kombis back into operation, while the
Government is allowing operators of conventional buses with valid operating
permits to ferry people to and from work. Since all formal sector businesses
were allowed to reopen on Monday and lockdown movement restrictions were as
a consequence relaxed, Zupco has been battling to move commuters to and from
work, with people having to wait, at times, for several hours while others
breached safety and lockdown rules by grabbing rides in trucks. Zupco acting
chief executive officer Mr Evaristo Madangwa said the commuter omnibuses
started operating on Monday in Harare and Bulawayo with full operation
expected throughout this week in other towns and cities.
<http://www.bulls.co.zw/> Read more >

RBZ closes more EcoCash, OneMoney lines   

THE Reserve Bank of Zimbabwe (RBZ) has closed an unspecified number of
mobile money agent lines suspected to have been fuelling exchange rate
volatility. A source within the central bank's Financial Intelligence Unit
(FIU) told The Herald that the suspension of the mobile money agent lines
and accounts across all networks was meant to facilitate investigations into
potential illegal foreign currency activities. The majority of financial
transactions in Zimbabwe are conducted on mobile platforms with EcoCash
accounting for about 95 percent of the volumes and the remainder by NetOne's
OneMoney.  <http://www.bulls.co.zw/> Read more >

TNF proposes tax relief measures   

THE Tripartite Negotiating Forum (TNF) has proposed some tax relief
measures, special emergency relief support for the informal sector and an
unemployment benefit fund as part of a cocktail of steps to mitigate the
effects of the Covid-19 pandemic. In a virtual meeting of principals of the
three social partners - Government, business and labour, TNF resolved that
Government should also provide protection to the most affected critical
sectors like tourism and hospitality industry which is reeling under
challenges such as cancelled bookings. According to a report seen by The
Herald signed by TNF chairperson and Labour Minister, Professor Paul Mavima,
there was need for special emergency relief support for the informal sector
most of which exhausted working capital during the lockdown period.
<http://www.bulls.co.zw/> Read more >

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

Ban on second-hand clothes to be enforced   

The ban on second-hand clothes imports must be strictly enforced after
Cabinet was   briefed on smuggling rackets in south-eastern Zimbabwe that
could see more Covid-19 cases as a result. Information, Publicity and
Broadcasting Services Minister Monica Mutsvangwa said in her briefing after
the meeting that "the apparent increase in the smuggling of second-hand
clothes into the country through border posts such as Mt Selinda and Sango
poses unprecedented danger of contracting COVID-19 by those who wear them.
Government will henceforth upscale the enforcement of the law banning the
importation of second-hand clothes". Turning to prices, she said: "Cabinet
noted with concern the surging in prices of basic goods despite the recently
agreed price moratorium by all the stakeholders," said Minister Mutsvangwa.
<http://www.bulls.co.zw/> Read more >

Budget transparency way to go - Mthuli   

The desire to be open and accountable to all citizens has seen Zimbabwe
rocketing from 17th to third place in Africa in budget transparency
rankings, Finance and Economic Development Minister Professor Mthuli Ncube
has said. Government now routinely engages different stakeholders before and
after the presentation of the Budget to get as much contribution as possible
and as soon as the Budget has been presented and adopted, it is immediately
circulated online and translated into many local languages. The Open Budget
Survey (OBS) 2019, ranks Zimbabwe third in Africa with a score of 47. Out of
117 countries, Zimbabwe is ranked 51, with the same score as India.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Tobacco deliveries increase, prices firm   

The volume of flue-cured tobacco being delivered to the floors continues to
increase as prices firm. By day three of the opening of the 2020 marketing
season, farmers had sold 694 496 kilogrammes of tobacco worth US$1,6 million
with contact floors offering prices above US$5 per kilogramme. Tobacco
Industry and Marketing Board (TIMB) seasonal sales statistics have shown
that volumes of the crop sold at both auction and contract floors had
increased by 333 percent from 160 080 kilogrammes during the same period
last year, while earnings also increased by 588 percent to US$1 598 230 this
season from US$232 008 last season.  <http://www.bulls.co.zw/> Read more >

Japan donates US$15,3m to Zim   

Japan has mobilised over US$15,3 million in emergency funding to assist
vulnerable communities that were affected by drought and floods in Zimbabwe.
The funds will be channelled through United Nations agencies, namely the
World Food Programme (WFP), the United Nations Children's Fund (unicef) and
the International Organisation for Migration (IOM). The funding includes
US$14,8 million to provide food assistance to vulnerable populations through
WFP and Government. The funds will be used for purchasing and distributing
around 26 000 tonnes of maize to meet the essential food security needs of
512 000 households in rural areas for a period of six months..
<http://www.bulls.co.zw/> Read more >

Mobile telcos adjust SMS, data bundle prices   

Zimbabwe's leading mobile network operators (MNOs), Econet and NetOne are
adjusting their SMS and data bundle tariffs in what the players say is in
line with the rising cost of doing business in the country. Econet adjusted
their new tariffs yesterday (Tuesday), while NetOne has announced plans to
adjust tariffs with effect from today. The SMS and date bundles - including
the Facebook, WhatsApp, Twitter, Daily and Weekly bundles, were adjusted by
an average 35 percent, with exception of the 25GB and the 50GB Wifi bundles.
These, which were more of outliers and were adjusted by 225 percent and 150
percent respectively. An Econet official said: "The two categories were
adjusted that much because when other bundles were adjusted in the recent
past, the two had not been changed." <http://www.bulls.co.zw/> Read more >

LOCKDOWN: Fuel price reduced   

The Zimbabwe Energy Regulatory Authority (Zera) has with effect from today
reduced the price of petrol and diesel by $0,77 cents and $0.68 cents
respectively. ZERA said the new prices will see a litre of blend petrol (E5)
retailing at $21 while diesel will sell at $20, 84 per litre. Prior to the
review the price of petrol was pegged at $21,77 while diesel was at $21,52
per litre. "Operators may however sell at prices below the cap depending on
their trading advantages. "Stakeholders are advised that the petroleum price
releases by ZERA can be verified on the official ZERA website, Facebook or
twitter," ZERA said in a statement.  <http://www.bulls.co.zw/> Read more >

Hope for domestic tourism - Government stimulus excites tourism sector   

GOVERNMENT'S $500 million Tourism Support Fund and waiver of Value Added Tax
(VAT) payable by tourists for accommodation, has brought hope to the tourism
sector, which has been hard hit by the outbreak of Covid-19 pandemic. The
support is part of the $18 billion Economic Recovery and Stimulus Package
unveiled by President Mnangagwa aimed at reinvigorating the economy and
providing relief to individuals, families, small businesses and industries
impacted by the economic slowdown as a result of the Covid-19 pandemic. The
stimulus package is aimed at providing liquidity and support to all
productive sectors of the economy such as tourism, mining, manufacturing and
agriculture.  <http://www.bulls.co.zw/> Read more >

Gwanda traders vacate shops   

SOME traders in Gwanda have vacated shops to avoid accumulating rentals when
they are not conducting any business during the lockdown. Government has
said people are exempted from paying rentals during the lockdown but money
owed would be paid when restrictions have been lifted. However, in
interviews yesterday, some traders said they had removed their wares from
shops and placed them in their homes. Rentals for shops in the central
business district (CBD) range from about US$100 to US$200 for small shops.
<http://www.bulls.co.zw/> Read more >

Zimplats Q1 production up 31 percent   

ZIMPLATS Holdings Limited says production for the first quarter to March 31,
2020 totalled 151 620 ounces, which was 31 percent above the 115 908oz
achieved the previous quarter. The mine's six elements (6E) comprise
platinum, palladium, gold, rhodium, ruthenium and iridium. During the same
period in 2019, 6E production stood at 143 446oz. "6E metal production
increased by 31 percent from the previous quarter. During the previous
period metal production was impacted by an increase in concentrate stocks
and build-up of inventory in the furnace after a major rebuild shutdown," it
said in an update.  <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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