Major International Business Headlines Brief::: 01 September 2020

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Major International Business Headlines Brief::: 01 September 2020

 


 

 


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ü  South African state firms seeking billions of rand in bailouts, govt says

ü  Absa PMI expands on easing lockdown

ü  Eskom to implement power cuts on Tuesday after breakdowns

ü  ICCO sees global cocoa surplus of 42,000 T in 2019/20

ü  Nigeria sets capital rules for mobile money licences

ü  Egypt signs $2 bln loan with regional, international banks -statement

ü  AngloGold Ashanti, Barrick Gold to sell 'Morila the gorilla' stakes

ü  Facebook threatens news sharing ban in Australia

ü  Lee Jae-yong: Samsung heir faces fresh charges over 2015 merger

ü  Zoom profits double as revenues skyrocket

ü  India GDP shows worst quarterly slump in decades

ü  M&S food goes fully online with Ocado launch

ü  Climate change: Power companies 'hindering' move to green energy

 


 <mailto:info at bulls.co.zw> 

 


 

South African state firms seeking billions of rand in bailouts, govt says

JOHANNESBURG (Reuters) - South African state companies the Post Office and
broadcaster SABC have requested billions of rand in financial support, the
National Treasury said in a presentation to parliament on Tuesday.

 

The Treasury said the Post Office had requested 4.9 billion rand ($292.87
million) in support and SABC was seeking 1.5 billion rand because of the
impact of the COVID-19 pandemic.

 

It added that state agricultural lender Land Bank, which defaulted earlier
this year, had resumed interest payments to lenders from Aug. 11.

 

($1 = 16.7310 rand)

 

 

Absa PMI expands on easing lockdown

JOHANNESBURG (Reuters) - South Africa’s seasonally-adjusted Absa Purchasing
Managers’ Index (PMI) expanded in August as an easing of the coronavirus
restrictions lifted business activity and sales.

 

The index, which gauges manufacturing activity in Africa’s most
industrialised economy, rose to 57.3 points in August from 51.2 points in
July, staying above the 50-point mark that separates expansion from
contraction.

 

“The improvement in demand was not only due to South Africa moving to a
lower lockdown level, but was also supported by an uptick in export orders,”
Absa said in a statement.

 

South Africa imposed a strict coronavirus lockdown in late March but has
since eased some of the restrictions, with most key industries now allowed
to operate at full capacity subject to health and safety protocols.

 

 

 

Eskom to implement power cuts on Tuesday after breakdowns

JOHANNESBURG (Reuters) - South African power utility Eskom will implement
planned blackouts on Tuesday after breakdowns at a number of power stations
in the last two days, it said on Tuesday.

 

The power cuts will last from 1000 GMT to 2000 GMT, the company said in a
statement, adding that any further deterioration in generating performance
may require additional loadshedding at short notice.

 

 

 

ICCO sees global cocoa surplus of 42,000 T in 2019/20

LONDON (Reuters) - The International Cocoa Organization (ICCO) on Monday
forecast a global cocoa surplus of 42,000 tonnes in the 2019/20 season,
which runs from October to September.

 

The inter-governmental body had previously forecast there would be a global
deficit of 80,000 tonnes in 2019/20 with the change driven by lower than
previously anticipated grindings due mainly to the COVID-19 pandemic.

 

“The impact of the coronavirus disease continues to be experienced across
chocolate confectionery processing and sales facilities and this has
contributed to a year of declining grindings,” the ICCO said in a quarterly
report.

 

The ICCO cut its forecast for world grindings in the 2019/20 season to 4.635
million tonnes, down from its previous projection of 4.783 million and now
3.1% below the prior season’s 4.784 million.

 

The impact was partially offset by a cut to the ICCO’s global production
forecast for 2019/20 to 4.724 million tonnes, down from 4.750 million seen
previously and now 1.2% below the prior season’s 4.780 million.

 

“Efforts to keep supplies flowing and to curb the COVID-19 pandemic from
spreading have been a priority for producing countries. Cocoa production has
generally shown resilience but concerns still remain as COVID-19 prevails,”
the ICCO said.

 

“This is because farmers may have less flexibility as they operate on a
particular planting and harvesting schedule. Social distancing and
quarantine measures are likely to disrupt the operations of cocoa farmers.”

 

 

 

 

Nigeria sets capital rules for mobile money licences

ABUJA (Reuters) - Nigeria’s central bank said it will grant more licences
for payment service banks but set a minimum capital base of $13 million,
which could deter telecoms firms and some other potential new entrants to
the digital financial services sector.

 

The central bank in a circular seen by Reuters on Monday said that telecom
firms, banking agents, retail chains and postal services could apply for
licences to become payment banks. To do so they must set up a separate
company for it with a minimum capital of 5 billion naira ($13 million) and
run it as an independent entity from their existing operations.

 

The bank has granted three licences so far to 9PSB, a unit of local telecom
firm, 9mobile, and two others.

 

Nigeria wants to open up its digital financial services sector, which will
help millions of Nigerians who do not have bank accounts. But regulation has
been caught up with intense lobbying from lenders seeking to protect their
turf in the wake of intense competition and weakening asset quality.

 

MTN, Nigeria’s biggest telecoms firm, which is yet to receive approval, last
year launched a mobile money transfer service, targeting those without bank
accounts in a bid to secure the central bank’s approval for a payments
licence.[nL5N25P3YF]

 

More than half of Nigeria’s population of 180 million do not have a bank
account.

 

The success of mobile money in east Africa has convinced investors and the
industry that financial services are the next growth area for the telecoms
sector, where prices for basic services are falling.

 

But the licensing requirement in Nigeria risks putting off telecom
companies. When the central bank issued preliminary guidelines for payment
banks in 2018 for discussion, telecom companies argued that they are not
banks and do not need a capital base.

 

The central bank said in its circular that it could ask payment banks to
recapitalise for specific risks.

 

Payment banks should operate mostly in rural areas and unbanked locations,
accepting deposits from individuals and small businesses, the central bank
said. They cannot grant loans, it said.

 

($1 = 380.70 naira)

 

 

 

Egypt signs $2 bln loan with regional, international banks -statement

CAIRO (Reuters) - Egypt signed a $2 billion conventional and Islamic loan
with several international and regional banks in a deal coordinated by two
UAE lenders, the finance ministry said on Monday.

 

Emirates NBD Capital and First Abu Dhabi Bank were joint coordinators and
lead managers of the deal, the ministry said in a statement.

 

The loan aims at “financing the state budget and supporting the Egyptian
economy in order to maintain its strong path in the face of fluctuations
prevailing in global markets”, it added.

 

The loan was approved by parliament, the statement said.

 

A parliamentary document obtained by Reuters showed Egypt initialized the
deal with Emirates NBD and FAD in July 20 to obtain a one-year, $2 billion
loan in two tranches to close the gap in its 2020/21 budget wrought by the
COVID-19 pandemic.

 

The first tranche is a conventional facility of $1.490 billion and the
second an Islamic facility of $510 million, the document added.

 

“When they came to the market...on the back of COVID, the pricing was
dislocated, the comparables were a bit on the high end. But they managed to
convince the banks to commit to a tight level. And now...,it is in line with
the market’s pricing,” a banking source said.

 

 

 

AngloGold Ashanti, Barrick Gold to sell 'Morila the gorilla' stakes

JOHANNESBURG (Reuters) - AngloGold Ashanti and Barrick Gold will sell their
effective 80% stake in the Morila Gold Mine in Mali, the miners said on
Monday, as political crisis grips the West African nation after soldiers
seized power in a coup.

 

Australian company Mali Lithium will buy the firm that holds the two miners’
stakes in the mine - the other 20% of which is owned by the government of
Mali - for a fee estimated at between $22 million and $27 million, Barrick
Gold and AngloGold Ashanti said.

 

Both miners said the deal would allow them to focus their capital or
attention elsewhere, would extend the life of the mine and “benefit
in-country stakeholders”. Neither mentioned the political situation in Mali.

 

Mali’s President Ibrahim Boubacar Keita resigned and dissolved parliament
earlier in August, hours after soldiers held him at gunpoint and seized
power in a coup.

 

The crisis caused the closure of the country’s borders, in a nation where
miners typically fly their gold out to be refined.

 

It also raised the risk of further political turmoil in Mali, which, in
common with other countries in the region, faces a growing threat from
Islamist militants.

 

Barrick Gold said the mine, known in its heyday as “Morila the Gorilla”, had
produced 6.9 million ounces of gold, generated more than $2.5 billion for
its stakeholders in taxes and dividends, and served as its legacy firm’s
base for expansion elsewhere in Africa. However it was forecast to close in
2021.

 

Mali Lithium said it was excited and privileged to acquire one of “West
Africa’s great gold mines”.

 

It added it wants to ramp up operations at the mine as soon as possible.

 

The deal remains subject to Mali Lithium finding funding and the government
of Mali allowing it to go through. The parties aim to complete the
transaction by October.

 

 

 

Facebook threatens news sharing ban in Australia

Facebook has threatened to stop users from sharing news content in Australia
as it prepares for a new law forcing it to pay publishers for their
articles.

 

Regulators want tech giants like Facebook and Google to pay for the content
reposted from news outlets.

 

Last month Google warned its users that its search services could be
"dramatically worse" as a result.

 

Facebook's latest move to block news sharing has escalated tensions between
tech firms and regulators.

 

The social media network said that if the proposed legislation becomes law
it will stop Australians from sharing news on Facebook and its subsidiary
Instagram.

 

The Australian Competition and Consumer Commission (ACCC) has drawn up the
rules to "level the playing field" between the tech giants and publishers
that it says are struggling due to lost advertising revenue.

 

The ACCC responded to Facebook's threat to block news content saying it was
"ill-timed and misconceived".

 

"The code simply aims to bring fairness and transparency to Facebook and
Google's relationships with Australian news media businesses," ACCC chairman
Rod Sims said.

 

But in a blog post, Facebook's managing director for Australia and New
Zealand Will Easton, said the draft law "misunderstands the dynamics of the
internet and will do damage to the very news organisations the government is
trying to protect".

 

He argued it would force Facebook to pay for content that publishers
voluntarily place on its platform to generate traffic back to their news
sites.

 

Mr Easton claimed Facebook sent 2.3bn clicks from Facebook's newsfeed back
to Australian news websites, worth around A$200m ($148m; £110m) during the
first five months of the year.

 

The blocking of news "is not our first choice - it is our last," he said,
adding that Facebook's other services that allow family and friends to
connect will not be affected.

 

A Facebook spokesman told the BBC that it will "provide specific details
soon" on how it will enforce the ban.

 

Some business experts argue that tech firms should pay publishers for the
quality news content that they repost.

 

"Google, Facebook and others have been getting away with giving it away for
free for too long," Michael Wade, a professor at the IMD Business School in
Switzerland and Singapore, told the BBC last month.

 

Google and Facebook do pay for some news content in specific markets, and
said they plan to roll these initiatives out to more countries.--BBC

 

 

 

Lee Jae-yong: Samsung heir faces fresh charges over 2015 merger

Samsung heir Lee Jae-yong is facing fresh charges of over his role in a 2015
merger deal at the tech giant.

 

South Korean prosecutors accused Lee, 52, of using stock and accounting
fraud to try to gain control of the Samsung Group - claims Mr Lee denies.

 

In 2017, Lee was found guilty of separate charges over the deal including
bribery, but his five-year prison sentence was later suspended.

 

He is unlikely to be held in custody as he awaits trial on the new charges.

 

The prosecution, however, disregarded a recommendation from a citizen's
panel that Lee should not be charged.

 

In June, state prosecutors sought to arrest Lee for the second time over the
controversial merger in 2015 of two Samsung businesses, Samsung C&T and
Cheil Industries.

 

It follows his 2017 conviction over the merger, which sparked a political
and business scandal in South Korea - including the resignation and
conviction of former President Park Geun-hye.

 

Back then, Lee was found guilty of using Samsung to pay 43bn won ($35.7m;
£28.1m) to two non-profit foundations operated by Choi Soon-sil, a friend of
Ms Park, in exchange for political support.

 

The deal needed support from South Korea's state-run national pension fund
and the former president's help was allegedly sought.

 

The deal was said to have paved the way for Lee to become the head of the
Samsung conglomerate.

 

Lee was convicted of charges including bribery, embezzlement, hiding assets
overseas and perjury and a court sent him to prison for five years.

 

But six months later that sentence was halved, and the Seoul High Court
decided to suspend the jail term, meaning he was free to go.

 

At the time, Lee denied the charges. He admitted making donations but said
Samsung did not want anything in return.

 

Also known as Jay Y Lee, he is the son of Lee Kun-hee, chairman of Samsung
Group, South Korea's largest conglomerate. He is also the grandson of
Samsung founder Lee Byung-chul.--BBC

 

 

 

Zoom profits double as revenues skyrocket

Popular videoconferencing app Zoom has seen its revenues skyrocket as second
quarter profits more than doubled due to the coronavirus crisis.

 

Revenues leaped 355% to $663.5m (£496.3m) for the three months ending 31
July, beating analysts' expectations of $500.5m.

 

Profits soared to $186m, while customer growth rose 458%, compared with the
same period in 2019.

 

Video conferencing apps remain crucial due to the increase in remote
working.

 

Zoom's shares hit a record high on Monday, closing at $325.10, as the firm
raised its annual revenue forecast by more than 30% to the range of
$2.37bn-$2.39bn, from its previous projection of $1.78bn-$1.80bn.

 

Key to Zoom's success was its ability to add paying customers - high-budget
corporate clients - as opposed to those who use its services for free.

 

Zoom sees sales boom amid pandemic

Coronavirus: Zoom under increased scrutiny as popularity soars

The company said that its large customers - firms that generated more than
$100,000 in revenue in the past year - doubled to 988 during the quarter.

 

Zoom, together with rivals Cisco Webex and Microsoft Teams, have all seen a
surge in usage of their video conferencing platforms since coronavirus
lockdown measures were imposed by multiple countries in March.

 

But Zoom's soaring popularity has also strained its infrastructure, with
some outages last week as schools in many parts of the US resumed classes
virtually.

 

Its reputation also took a hit, as the new attention prompted hackers to
hijack meetings and exposed a host of security flaws, revealing that the
firm had sent user data to Facebook, had wrongly claimed the app had
end-to-end encryption, and was allowing meeting hosts to track attendees.

 

Zoom has also faced political scrutiny for its ties to China - where it has
more than 700 staff, including most of its product development team - which
have prompted warnings that it is not fit for government use.--BBC

 

 

 

India GDP shows worst quarterly slump in decades

India's economy contracted sharply in the three months to the end of June,
official data shows.

It shrank by 23.9%, its worst slump since the country started releasing
quarterly data in 1996.

The coronavirus pandemic and a grinding lockdown caused massive disruptions
to economic activity during the quarter.

 

Experts fear that India is staring at a recession - that will happen only if
it reports contraction in the next quarter as well, which experts say is
likely.

 

A country is considered to be in recession if it reports contraction for two
successive quarters. India was last in recession in 1980, its fourth one
since independence.

 

India has recorded more than 3.6 million Covid-19 cases so far - on Sunday
it reported 78,761 new cases in 24 hours, the world's highest single-day
increase.

But the country continues to reopen because, experts say, a second lockdown
is economically unviable. And the effects of the first lockdown are evident
in the latest GDP figures.

 

The numbers aren't surprising given that the lockdown was in effect for most
of the quarter in question - April to June.

 

Presentational grey line

Figures don't reflect India's 'true economic distress'

 

 

While India's GDP saw the sharpest contraction on record, the number is
expected to undergo further revisions as data collection was severely
impaired during the lockdown.

The headline figure is at the upper end of what most analysts were
estimating, but some have cautioned that in the absence of real time data,
the number doesn't reflect the gravity of the economic distress.

>From hotels to trade, electricity generation, manufacturing and
construction, almost every segment of the Indian economy showed a sharp
contraction during the first three months of the financial year. The only
sector that posted positive growth was agriculture, at 3.4%.

 

 

By all accounts, a quick recovery is unlikely in India, and it is only in
the last three months of the year that growth is expected to return to
positive territory. Cases continue to spike and lockdowns are ongoing in
several areas. As a result, consumer demand, which determines 60% of GDP, is
unlikely to return in a hurry as most people are stepping out only to buy
essentials.

 

"We expect further fiscal and liquidity stimulus," Abhimanyu Sofat, head of
research at IIFL Securities, told the BBC. But with the government's tax and
non-tax revenues down sharply and expenditure going up, the fiscal space to
revive the economy remains limited.

 

Presentational grey line

India's economy was already faltering when Covid-19 struck. Last year,
unemployment touched a 45-year high and growth dipped to 4.7%, the lowest in
six years. Output was shrinking as demand fell and banks were burdened by a
mountain of debt.

 

India's young bear the brunt of sweeping job losses

Can India replace China as world's factory?

India's bailout may not be enough to save economy

Then came a global pandemic, which only worsened the situation. An
unprecedented lockdown at the end of March forced many factories and
businesses to shut temporarily, brining most economic activity to a halt.

One month into the lockdown, 121 million Indians had lost their jobs,
according to the Centre for Monitoring Indian Economy (CMIE), an independent
think tank.

 

 

But CMIE also estimates that tens of millions of those jobs have since
returned, mainly due to a resumption of economic activity as the country
reopened from June onwards.

 

Experts, however, believe that many of these jobs are in the informal
sector, largely agriculture, the mainstay of India's economy.

 

While most industries, from manufacturing to services to retail contracted,
agriculture and agri-businesses have bucked the trend.

 

 

Exemptions from the lockdown, a bumper harvest and the delayed arrival of
Covid-19 in rural areas seems to have helped.--bbc

 

 

 

 

M&S food goes fully online with Ocado launch

>From Tuesday, Marks & Spencer will begin doing something many of its
competitors have been doing for years - it is making its full food range
available to order online.

 

M&S has bought a 50% share of Ocado's retail business, which gives the
grocer an internet-based delivery service for the first time.

 

The launch comes at a crucial time for M&S, which is cutting 7,000 jobs.

 

But analysts are divided on the wisdom of the deal.

 

One expert, Kate Hardcastle, told the BBC that M&S had "taken a long time"
to enter the online grocery market and that expectations were high.

 

But another analyst, Richard Hyman, said the move could erode the retailer's
profits and was "a big mistake".

 

Until now, the only M&S food available online has been party food and
celebration dinners to order or, in certain locations, a limited range of
about 130 M&S food and household items through Deliveroo.

 

But if you live in Scotland, you're out of luck. Ocado does not currently
operate north of the border and has no plans to do so at present.

 

What does the deal mean for shoppers?

For existing customers of Ocado, it means big changes.

 

In the past, consumers who wanted to buy into Waitrose's upmarket image
without busting their budget had the option of choosing from the
supermarket's Essential Waitrose range.

 

But now they will need to take their pick from M&S's Remarksable Value range
instead.

 

Shoppers can now choose from 6,000 M&S food items, alongside Ocado own-label
goods and big-name branded items.

 

M&S has vowed that all its replacement products will be the same price as,
or cheaper than, the equivalent Waitrose items.

 

M&S and Ocado say that their joint offer now amounts to more than 50,000
products, which they say is "double that of the next largest grocery
retailer".

 

But if Ocado customers don't like the new set-up, they have the option of
switching to Waitrose's own delivery service, Waitrose.com.

 

How important is it for M&S?

The tie-up with Ocado comes at a critical time for M&S.

 

The retailer employs almost 78,000 people, most of them in the UK.

 

The bulk of the latest job cuts are expected to come among shop floor
workers, with about 12% of customer assistant roles going.

 

Shopping may never be the same again, says M&S

The deal with Ocado was originally announced early last year, well before
the onset of the coronavirus pandemic.

 

However, Covid-19 has exacerbated existing problems for M&S, which has
struggled to restore the fortunes of its hard-hit clothing and home goods
divisions since shops reopened after lockdown.

 

At the height of lockdown, M&S boss Steve Rowe said customers might "never
shop the same way again" after the coronavirus crisis.

 

As a result, the company is shifting resources and recruiting towards areas
that are expanding - online and food.

 

What does it mean for Ocado?

Ocado Retail chief executive Melanie Smith hailed the deal as a "winning
combination of the country's fastest-growing grocer and the nation's most
beloved food brand".

 

But it could still be a tricky moment for the online grocer if it turns out
that shoppers valued Waitrose's goods more than they did Ocado's customer
service and user-friendly website.

 

And Ocado now has to face stronger competition, with its former partner
eager to win market share for its own website.

 

Ocado has been offering Waitrose products since it began its commercial
delivery service in 2002.

 

At that time, Waitrose already had its own internet-based deliveries, but on
a much smaller basis. Now it says it can reach 90% of UK postcodes.

 

"The supply relationship has worked well for almost 20 years, but now both
parties are ready to go their own way," says Waitrose.

 

What do the experts think?

Consumer and retail expert Kate Hardcastle told the BBC she had placed an
order for 1 September to test the new Ocado and had so far had two items
cancelled.

 

"For each one, they sent me a £5 voucher," she said, adding that this was an
indication of how much pressure M&S and Ocado were under to get their
partnership right.

 

"Everyone's expectations are pretty high and the world is watching," she
added.

 

She acknowledged that M&S could have been in the online grocery market
sooner, but compared the delay with previous foot-dragging by the retailer
over issues such as accepting credit cards.

 

"M&S do things very much their way," she said. "They've taken a long time to
do it, but if there's a time to do it, it's now."

 

However, another retail analyst, Richard Hyman, thinks the whole deal is
misconceived and M&S should stay on the High Street.

 

"It's very difficult to make money from selling food online," he told the
BBC. "I'm not sure that anyone does."

 

Mr Hyman said M&S had "a terrific food business as it stands", but risked
eroding its profit margins as it tried to turn itself into a destination for
the family shop.

 

"Old business thinking says, 'We must get bigger,'" he says. "But being big
isn't as beautiful as it used to be."

 

He said M&S was "trying to please too many people" and would "dilute its
core offering" as a result.

 

"It's almost as if M&S aspires to be like other food retailers, which
strikes me as a big mistake."--BBC

 

 

 

Climate change: Power companies 'hindering' move to green energy

New research suggests that power companies are dragging their feet when it
comes to embracing green energy sources such as wind and solar.

 

Only one in 10 energy suppliers globally has prioritised renewables over
fossil fuels, the study finds.

 

Even those that are spending on greener energy are continuing to invest in
carbon heavy coal and natural gas.

 

The lead researcher says the slow uptake undermines global efforts to tackle
climate change.

 

In countries like the UK and across Europe, renewable energy has taken a
significant share of the market, with 40% of Britain's electricity coming
from wind and solar last year.

 

But while green energy has boomed around the world in recent years, many of
the new wind and solar power installations have been built by independent
producers.

 

Large scale utility companies, including many state and city owned
enterprises, have been much slower to go green, according to this new study.

 

The research looked at more than 3,000 electricity companies worldwide and
used machine learning techniques to analyse their activities over the past
two decades.

 

The study found that only 10% of the companies had expanded their
renewable-based power generation more quickly than their gas or coal fired
capacity.

 

Of this small proportion that spent more on renewables, many continued to
invest in fossil fuels, although at a lower rate.

 

The vast majority of companies, according to the author, have just sat on
the fence.

 

"If you look at all utilities, and what's the dominant behaviour, it is that
they're not doing much in fossil fuels and renewables," said Galina Alova,
from the Smith School of Enterprise and the Environment at the University of
Oxford.

 

"So they might be doing something with other fuels like hydro power or
nuclear, but they're not transitioning to renewables nor growing the fossil
fuel capacity."

 

The author says that many of these types of utilities are government-owned
and may have invested in their power portfolios many years ago.

 

The overall conclusion from the analysis, though, is that utility companies
are "hindering" the global transition to renewables.

 

"Companies are still growing their fossil-fuel based capacity," Galina Alova
told BBC News.

 

"So utilities are still dominating the global fossil fuel business. And I'm
also finding that quite a significant share of the fossil-fuel based
capacity owned by utilities has been added in the last decade, meaning that
these are quite new assets.

 

"But in order for us to achieve the Paris climate agreement goals, they
either need to be retired early, or will need carbon capture and storage
because otherwise they're still here to stay for decades."

 

She says that inertia within the electricity industry is one key cause of
the slow transition.

 

But the news reporting about energy companies doesn't always capture the
complexity of their investments.

 

"Renewables and natural gas often go hand in hand," said Galina Alova.

 

"Companies often choose both in parallel. So it might be just in media
reports we are getting this image of investing in renewables, but less
coverage on continued investment in gas.

 

"So it's not greenwashing. It is just that this parallel investment in gas
dilutes the shift to renewables. That's the key issue."

 

The study has been published in the journal Nature Energy.--BBC

 

 

 

 

 

 

 

 


 


 


Invest Wisely!

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INVESTORS DIARY 2020

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


SeedCo International

AGM

Virtual (https://eagm.creg.co.zw/eagmzim/Login.aspx#)

26 August 2020 | 9am

 


SeedCo

AGM

Virtual (https://eagm.creg.co.zw/eagmzim/Login.aspx#)

28 August 2020 | 9am

 


Companies under Cautionary

 

 

 


 

 

 

 


Bindura Nickel Corporation

 

 

 


Padenga Holdings

 

 

 


Delta Corporation

 

 

 


Meikles Limited

 

 

 


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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.

 


 

 


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