Bulls n Bears Investors Notebook Issue 498: 15 May 2020

Fri May 15 12:01:01 CAT 2020

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Bulls n Bears Investors Notebook Issue 498: 15 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 to circulate higher bank notes as inflation soars

(Reuters) - Zimbabwe will introduce higher denomination bank notes to
increase the amount of cash in circulation, the finance minister said in a
government notice on Thursday, at a time inflation is soaring and pushing
prices beyond the reach of the majority. The southern African nation brought
back the discredited Zimbabwe dollar currency last year in June after a
decade of dollarisation. The move failed to end severe cash shortages and
unleashed inflation, which reached 676.39% in March, one of the highest in
the world. Mthuli Ncube said the central bank would start circulating 10 and
20 Zimbabwe dollar ($0.80) notes. Until now, the highest denomination was a
5 Zimbabwe dollar bank note.  <http://www.bulls.co.zw/> Read more >

CZI calls for two-tier forex exchange rate   

Industrial lobby group, Confederation of Zimbabwe Industries (CZI), has
proposed the adoption of a two-tier exchange rate management regime, formed
from the combination of floating and crawling peg systems, to facilitate
formal access to foreign currency by businesses. The lobby group made the
call in a comprehensive position paper, titled "CZI Policy Response Paper
1", submitted to Government this week, as part of proposed policy
interventions to avoid potential negative impact of the $18 billion
stimulus.

 <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

Zimre in solid Q1 performance

Listed firm, Zimre Holdings, says income from its linchpin subsidiary -
Zimre Property Holdings - were in line with initially set targets, but voids
and debtors have increased as the coronavirus pandemic worsened in the later
part of the quarter. Zimbabwe has been in lockdown since March 30, 2020 as a
measure to contain the spread of the Covid-19 virus, but this has affected
economic activity and therefore most people's incomes, which is beginning to
be felt by companies.  <http://www.bulls.co.zw/> Read more >

Tongaat shares dive

Shares in sugar producer Tongaat Hulett fell by nearly 17 percent on Tuesday
morning following the announcement that the sale of its starch business to a
subsidiary of Barloworld had hit a snag. Tongaat had announced in February
that it would be selling its starch business to the KLL Group for R5,35
billion. The transaction hinged on the undertaking that no "material adverse
changes" should occur after the signing of the agreement that could affect
the business. In a statement on Tuesday, the country's largest sugar
producer said the KLL Group felt that the effects of Covid-19 were likely to
negatively impact the business and result in material adverse changes.
<http://www.bulls.co.zw/> Read more >

High cotton yield still possible   

Zimbabwe's cotton production is this year expected to be higher than last
year. This is despite uneven distribution of rainfall across the country
that affected other crops. Ahead, Zimbabwe, like many other cotton producing
countries is facing a new challenge; low lint prices, which are down 33
percent due to coronavirus. Senior Business Reporter Martin Kadzere (MK)
talks to Cottco acting managing director Pious Manamike (PM) about these and
other issues affecting the sector. Cottco, which administers Government's
free inputs programme, is the largest financier of the crop and last year
contracted about 243 000 farmers who planted 289 000 ha or about 72 percent
of total hectarage, according to Government's First Round Crop and Livestock
Assessment Report 2019/20 season.  <http://www.bulls.co.zw/> Read more >

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

High Court reverses RBZ currency conversion   

The High Court has declared unconstitutional, a Reserve Bank of Zimbabwe
(RBZ) exchange control directive converting sums in accounts originally
designated in US dollars into Zimbabwe dollar-denominated accounts, ordering
a bank to pay a particular holder of such an account in foreign currency
within seven days. The ruling is from the lowest level of court that can
handle such a matter and the decision may still require  confirmation by the
Constitutional Court (Concourt) in terms of Section 175 of the Constitution.
<http://www.bulls.co.zw/> Read more >

'Explore contract farming for traditional grains, wheat'   

The agriculture industry must stimulate production of traditional grains by
exploring lucrative markets and entering into contract farming arrangements
for the drought-tolerant crops that can be used for both household
consumption and stock feed manufacturing. Vice President Constantino
Chiwenga said this while addressing farmers at Dr Howard Marowa's farm in
Chitomborwizi, Makonde, yesterday. VP Chiwenga was accompanied by Lands,
Agriculture Water and Rural Resettlement Minister Perrance Shiri, Minister
of State for Mashonaland West Mary Mliswa-Chikoka, Finance and Economic
Development Deputy Minister Clemence Chiduwa, and Energy and Power
Development Deputy Minister Magna Mudyiwa, among other Government officials.
<http://www.bulls.co.zw/> Read more >

 <mailto:info at bulls.co.zw> 

Vendors lose forex to fake stall allocators   

Conmen soliciting between US$10 and US$20 "fees" from traders and vendors
while promising them stalls and tables at Shawasha Grounds and Mupedzanhamo
flea market in Mbare are criminals who have no say in allocations, Harare
City Council has said. When the authorities agree that the two large
informal sector markets can reopen under strict conditions, Government and
council jointly agreed that the space allocations will be done openly by a
special committee using clear criteria, with priority being given to
established traders whose illegal and temporary structures had to be
demolished to pave way for upgrades.  <http://www.bulls.co.zw/> Read more >

RBM in small and medium enterprises   

My sincere gratitude to readers for the support and invaluable comments that
I continue to receive with great joy. The feedback always guides the writing
process, in line with RBM principles, relating to end-user focus,
stakeholder participation, continuous monitoring and use of feedback to
guide decisions. This instalment is aimed at addressing a question, from a
dear reader, regarding the utility of RBM in Small and medium enterprises
(SMEs). The term SMEs refers to independently owned businesses that have
maxima of 50 and 500 employees, respectively, ordinarily run by
entrepreneurs who contribute their innovative and creative skills to develop
and grow the businesses.  <http://www.bulls.co.zw/> Read more >

Infrastructure investments would bolster economy: Bank   

LISTED financial institution, BancABC, has resolved to prioritise financing
infrastructure development projects of national significance as this would
boost economic growth. In its financial report for the year ended December
31, 2019, BancABC said its corporate, investment banking and business
banking units have since shifted focus to participating in infrastructure
and energy-related projects. "The two units have supported the
rehabilitation of the country's road networks, service delivery projects
across most major cities and funding alternative energy solutions to
supplement the current supply shortages on the national grid," said BancABC.
<http://www.bulls.co.zw/> Read more >

ZimTrade calls on SMEs to embrace e-commerce   

THE national trade development and promotion agency, ZimTrade, has advised
small to medium enterprises (SMEs) to develop and utilise electronic
(e)-commerce platforms to continue supplying traditional markets and ensure
survival despite the threat induced by Covid-19. ZimTrade noted that with
the coronavirus pandemic impacting the strongest economies of the world and
increasing unpredictability, businesses are worried about the long-term
effects this will have on the economy.  <http://www.bulls.co.zw/> Read more
>

Zimre shifts focus   

ZIMRE Holdings Limited (ZHL) says it will use its internally generated
resources to prop-up capacity on its regional operations taking advantage of
opportunities in the foreign markets. In a statement accompanying financial
results for the first quarter ended March 31, 2020, the group said such
markets include Mozambique where a multi-billion dollar natural gas project
is being developed. "The group is on course to provide competitive capital
to regional operations mostly from its internal resources in order to
increase capacity and take advantage of business growth opportunities in
those markets.  <http://www.bulls.co.zw/> Read more >

Decentralised fresh produce markets start operating   

BULAWAYO'S decentralised bulk fresh produce markets started operating on
Wednesday in five suburbs as council complies with Government measures to
decongest the central business district (CBD). Prior to the Covid-19-induced
national lockdown, most local authorities were struggling to deal with
informal sector players operating in the CBD leading to a cat and mouse
relationship, largely between vendors and municipal police. The lockdown
gave Government an opportunity to remodel the SMEs sector to decongest
cities by directing councils to move markets closer to the people.
<http://www.bulls.co.zw/> Read more >

LSU plans sanitiser, PPE production   

Government has released $200 000 to Matabeleland North province to fight
Covid-19. Part of the money has been channeled to Lupane State University
which will use the money to buy raw materials for the production of hand
sanitisers and personal protective equipment (PPE). Addressing officials
during a handover of Covid-19 material to Nyamandlovu hospital, which
included PPE, Matabeleland North Provincial Affairs Minister Richard Moyo
said Government was committed to equipping health centres to deal with
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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