Bulls n Bears Investors Notebook Issue 494: 11 May 2020

Mon May 11 10:48:01 CAT 2020

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Bulls n Bears Investors Notebook Issue 494: 11 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

Zimbabwe printing new notes as inflation nears 1,000%

Zimbabwe has begun printing new notes in $10 and $20 denominations at a time
when annual inflation stands at 926%, according to a state media report.
Citing Reserve Bank of Zimbabwe (RBZ) monetary policy committee member Eddie
Cross, the Sunday Mail report said the decision was "imminent" to increase
liquidity in the market. "The plans are advanced and higher denomination
notes will be made available to the public sometime later this month. The
Reserve Bank will make the announcement. They are being printed and the
appropriate date will be announced soon," Cross said.
<http://www.bulls.co.zw/> Read more >

Both EcoCash And RBZ Are NOT Being 100% Sincere And Truthful

The fight between EcoCash and their regulator, the Reserve Bank of Zimbabwe
is revealing if nothing more. Of course the current episode started with a
directive from RBZ instructing EcoCash to freeze agent accounts that
transact above ZW$100,000. EcoCash went to court seeking an urgent reversal,
the RBZ responded and now we are here.Reading the EcoCash lines and between
them;The Econet group knows how to play in two arenas very well: the arena
of the courtroom and the arena of public opinion. When EcoCash was served
with the directive they didn't hesitate to indite RBZ in the public opinion
courtroom.  <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

POTRAZ Gives Mobile Operators Additional Spectrum For The Rest Of 2020:
Internet Use Has Ballooned

The Director General of POTRAZ has announced that movie network operators
will be allowed to access additional 3G and 4G frequencies at no cost. Radio
spectrum is a finite resource which is used for various radio-communication
services which include cellular telephone operations and broadcast
television stations. During the Covid-19, Potraz will be assigning
additional 3G (Third Generation Network) and LTE (Long Term Evolution)
spectrum for free to cater for additional data demand. The authority has
granted the spectrum up to December 2020 to three mobile operators to enable
them to increase the capacity of their data offering
<http://www.bulls.co.zw/> Read more >

Airzim inches closer to multi-million US dollar deal   

A lucrative deal that promised to generate business worth millions of US
dollars to the beleaguered national airline, Air Zimbabwe, is tottering on
the brink following demands by Beijing authorities that the airline's
charter flights must apply for special operations permits before being
allowed to undertake any flights in Chinese air space. Baffled Air Zimbabwe
officials had first met with red tape at the Ministry of Foreign Affairs and
International Trade when they were refused by officials a diplomatic Note
Vebale to the Chinese Ministry of Foreign Affairs supporting request for
permission for the flights to be undertaken.  <http://www.bulls.co.zw/> Read
more >

Zimra processes $450m in tax refunds   

The Zimbabwe Revenue Authority (ZIMRA) has processed $450 million in tax
refunds to companies as part of efforts to bring business continuity during
the Covid-19 crisis, a senior official had said. The Covid-19 pandemic has
caused severe strain on businesses and economies in general as companies
downsized operations in implementation of national lockdowns and social
distancing. Covid-19 induced challenges are expected to continue in the near
to long term period resulting in reduced revenue collections, at a time the
country needs financial resources to fight the pandemic and economic
development projects.  <http://www.bulls.co.zw/> Read more >

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

Farmers count lockdown losses   

Tracy Simango can only but watch as her fresh produce - months of hard
labour - rots away. With prime markets in Harare initially closed, then
semi-opened under strict rules, the 45-day (so far) Covid-19 lockdown has
been a major blow for smallholder horticulture farming in rural areas. "Most
of our produce is in the compost," the 52 year-old vegetable and tomato
farmer from Wedza told Pelum Zimbabwe. "We cannot give our neighbours
because they have their own vegetable gardens," she said. Making money on
lockdown has been an impossible task for smallholder farmers, who are still
smarting from a succession of climate change-triggered drought and flooding
events.  <http://www.bulls.co.zw/> Read more >

African Sun expects business boost   

Hotelier, African Sun, says it expects a significant improvement in the
business and economic climate during the second half of the year, although
economies are still grappling to deal with the coronavirus (Covid-19)
pandemic. Travel and tourism - both locally and globally - are arguably the
hardest hit sectors by lockdowns imposed as a result of the global health
pandemic. The International Air Transport Association (IATA), the UN World
Tourism Organisation (UNWTO), the World Travel & Tourism Council (WTTC), the
African Airlines Association (AFRAA) and the Airlines Association of
Southern Africa (AASA) recently made a co-ordinated appeal to international
financial institutions, country development partners and international
donors to support the African travel and tourism industries.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Cassava Fintech unveils Sasai TeamTalk with free calls on Sundays 

Cassava Fintech International (CFI), a subsidiary of Econet Global, on
Saturday released an enhanced voice and video conferencing service that
allows up to 20 people on one call. The service, branded Sasai TeamTalk, was
unveiled as a promotional offer of free Sasai conference calling, between
8am and 5pm every Sunday until the end of the month. The service is
available through the Sasai all-in-one app that allows users to pay, chat,
and explore a vast range of services, content and much more, and has been
unveiled in Zimbabwe first.  <http://www.bulls.co.zw/> Read more >

Landela eyes Metallon gold mines   

Landela Mining Venture is on the verge of taking over Metallon Corporation's
Shamva Gold Mine as it moves towards gaining a greater control of Zimbabwe's
mining assets. Ownership of Landela has largely remained a secret, but
business tycoon Kudakwashe Tagwirei, who has vast business interests in fuel
and energy sectors, is linked to the investment vehicle. The impending deal
comes at a time Government has just announced closed gold mines will be
designated as Special Economic Zones. Tagwirei has consistently denied any
links to Landela.  <http://www.bulls.co.zw/> Read more >

ZimCoke takeover of Zisco assets frozen   

The takeover of state-owned Zimbabwe Iron and Steel Company (Zisco) assets
by ZimCoke, a Mauritius registered firm fronted by former Bulawayo South
legislator Eddie Cross, is hanging in the balance after authorities proposed
the disputed deal to be renegotiated. The deal entails ZimCoke assuming
US$225 million Zisco debt owed to German bank KfW GBMH for the assets. The
assets include 328 hectares of land worth US$16 million, plant and machinery
valued at US$168 million, railway wagons and related infrastructure (US$4
million), 48 percent shareholding in ZimChem (US$23 million) and waste
products plant (US$16 million). What makes the deal even more controversial,
is that the Zimbabwean inter-ministerial taskforce, which was engaged in
negotiations with R&F, a Chinese company which had signed a US$1 billion
investment agreement with Government in 2017, was not aware of the ZimCoke
deal, only to realise it during its fifth visit to China.
<http://www.bulls.co.zw/> Read more >

Is Hwange Colliery on recovery path?   

Notwithstanding the protracted boardroom wrangles at Hwange Colliery Company
Limited (HCCL), the coal producer appears to be on a slow road to recovery,
if its FY2019 numbers are anything to go by. HCCL was placed under the
administration of Bekithemba Moyo of DBF Capital Partners in October 2018
after a string of losses and default on a Scheme of Arrangement to pay off
creditors. However, the company's board, which had been terminated by
operation of law after the issuance of the Reconstruction order by
Government, challenged the decision, and in February this year the High
Court ruled on their favour. Government has since appealed that ruling. But
life goes on for the miner.  <http://www.bulls.co.zw/> Read more >

Zimplats in strong Q3 production   

Zimplats delivered a strong performance during the three months ending March
31, 2020 as tonnes milled increased by 6 percent to 1,7 million tonnes,
parent company Implats has said. 6E concentrate production also improved by
6 percent to 150 000 ounces compared to 141 000 ounces in the prior
corresponding period. Matte production and concentrate sales were slightly
higher than milled volumes in the period and improved by 6 percent to 152
000 ounces. For the 9 months ended March 31, 2020, mill throughout of 5,08
million tonnes was 3 percent higher and 6E concentrate production improved
by a similar margin to 449 000 ounces from the prior comparable period.
<http://www.bulls.co.zw/> Read more >

Stock Market Weekly Review   

The Zimbabwe Stock Exchange (ZSE) maintained an upward trajectory with
investors garnering a cumulative $1 billion last week. Figures from the
local bourse show that total market value during the week to Wednesday
increased by 1,29 percent to close pegged at $64 billion compared to $63
billion recorded in the previous week. The gains were sustained by firming
demand. The primary indicator, the ZSE All Share Index added 1,44 percent of
vale to close at 494,43 points, extending its year-to-date gains to 114
percent. The ZSE Top 10 Index rose by a marginal 0,11 percent to 398,67
points while the ZSE Top 15 Index also rose by a marginal 0,18 percent to
show at 412,64 points. At 725 points, the Medium Caps was 3,53 percent above
prior week's 411 points.  <http://www.bulls.co.zw/> Read more >

'Constant power supply to continue'   

Residential areas are likely to continue receiving uninterrupted power
during the extended lockdown period despite the recent partial re-opening of
industries, a senior Government official has said. President Mnangagwa on
May 1, extended the national lockdown by two more weeks and downgraded it to
Level Two, where industries that usually consume much electricity were
permitted to operate between 8am to 3pm. Most suburbs across the country
have been experiencing constant electricity supplies since the beginning of
the Covid-19-induced national lockdown, when industries were shut. The
Herald established that since the industries were re-opened on Monday, most
residential areas still continued to have steady electricity supplies.
<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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