Major International Business Headlines Brief::: 20 February 2021

[Bulls n Bears]

 <https://bullszimbabwe.com/> 

 


 

 <http://www.bullszimbabwe.com> Bullszimbabwe.com         <mailto:info at bulls.co.zw?subject=View%20and%20Comments> Views & Comments        <https://bullszimbabwe.com/category/blogs/bullish-thoughts/> 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

 


 

 


Major International Business Headlines Brief::: 20 February 2021

 


 

 


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

 


 

 


ü  Bitcoin hits $1 trillion market cap, surges to fresh all-time peak

ü  Wall Street Week Ahead: Rising U.S. bond yields pose new threat to sky-high stocks

ü  U.S. factory activity cools; cost pressures mounting

ü  Facebook has 'tentatively friended' us again, Australia says

ü  Nigeria: 'How Customs Tariff, VAT Waivers Will Help Airlines'

ü  Mozambique: Court Seizes Bus Company Workshops

ü  Nigeria: Govt Awaits $1.2bn Loan Approval to Implement Critical Agric Initiative

ü  Mozambique: Agriculture Minister Optimistic About Rice Harvest

ü  Tanzania: Region to Phase Out Bicycles Use in Its CBD

ü  Kenya: A Brave, New Car-Free World for Kisumu City

ü  Holidays: Travel industry begs for 'route out of crisis'

ü  Maersk: Consumers can foot shipping's climate change bill

ü  Uber drivers are workers not self-employed, Supreme Court rules

ü  Retail sales slump in January amid lockdown

ü  Covid: Almost two million in UK 'have not worked for six months'

 

 

 


 <https://www.facebook.com/Hyundaizimbabwe/> 

 


 

Bitcoin hits $1 trillion market cap, surges to fresh all-time peak

NEW YORK/LONDON (Reuters) - Bitcoin hit a market capitalization of $1 trillion as it rose to yet another record high on Friday, countering analyst warnings that it is an “economic side show” and a poor hedge against a fall in stock prices.

 

The world’s most popular cryptocurrency jumped to an all-time high of $56,399.99, posting a weekly gain of 14%. It has surged nearly 70% so far this month and was last up 8% at $55,664.

 

Bitcoin’s gains have been fueled by signs it is gaining acceptance among mainstream investors and companies, from Tesla Inc and Mastercard Inc to BNY Mellon.

 

All digital coins combined have a market cap of around $1.7 trillion.

 

“If you really believe there’s a store of value in bitcoin, then there’s still a lot of upside,” said John Wu, president of AVA Labs, an open-source platform for creating financial applications using blockchain technology.

 

“If you look at gold, it has a market cap of $9 or $10 trillion. Even if bitcoin gets to half of gold’s market cap, that’s still growth of 4X, or $200,000. So I don’t know when it stops rising,” he added.

 

The next milestone will be overtaking Alphabet Inc, currently valued at $1.431 trillion, said Jacob Skaaning, portfolio manager at crypto hedge fund ARK36.

 

“There will likely be some big fluctuations along the way, but I’m still very bullish and I believe the uptrend will continue for the time being,” he added.

 

Still, many analysts and investors remain skeptical of the patchily regulated, highly volatile digital asset, which is little used for commerce.

 

Analysts at JP Morgan said bitcoin’s current prices were well above estimates of fair value. Mainstream adoption increases bitcoin’s correlation with cyclical assets, which rise and fall with economic changes, in turn reducing benefits of diversifying into crypto, the investment bank said in a memo.

 

“Crypto assets continue to rank as the poorest hedge for major drawdowns in equities, with questionable diversification benefits at prices so far above production costs, while correlations with cyclical assets are rising as crypto ownership is mainstreamed,” JP Morgan said.

 

Bitcoin is an “economic side show,” it added, calling innovation in financial technology and the growth of digital platforms into credit and payments “the real financial transformational story of the COVID-19 era.”

 

Other investors this week said bitcoin’s volatility presents a hurdle for it to become a widespread means of payment.

 

On Thursday, Tesla boss Elon Musk - whose tweets have fueled bitcoin’s rally - said owning the digital coin was only a little better than holding cash. He also defended Tesla’s recent purchase of $1.5 billion of bitcoin, which ignited mainstream interest in the digital currency.

 

Bitcoin proponents argue the cryptocurrency is “digital gold” that can hedge against the risk of inflation sparked by massive central bank and government stimulus packages designed to counter COVID-19.

 

 

Yet bitcoin would need to rise to $146,000 in the long-term for its market cap to equal the total private-sector investment in gold via exchange-traded funds or bars and coins, according to JP Morgan.

 

Rival cryptocurrency ether also hit an all-time peak of $1,974.99 on Friday, and was last up 1.2% at $1,961.32, after its futures were launched on the Chicago Mercantile Exchange.

 

Bitcoin’s surge extended to crypto-related stocks as well, such as Silvergate Capital Corp, which was up 8.2%, cryptocurrency miner Riot Blockchain, 13.5% higher, and Marathon Patent Group, up 7.3%.

 

Shares of Overstock.com, an online retailer and blockchain tech investor, gained 4.1%; while MicroStrategy Inc, a bitcoin buyer and business intelligence software firm, advanced 4.1%.

 

 

 

Wall Street Week Ahead: Rising U.S. bond yields pose new threat to sky-high stocks

NEW YORK (Reuters) - The U.S. stock market has so far digested a surge in Treasury yields, but some investors are worried that a continued ascent could prove more problematic.

 

The yield on the benchmark 10-year Treasury note, which rises when bond prices fall, climbed to a one year high of 1.36% this week, fueled by expectations that progress in the countrywide vaccination program and further fiscal stimulus would further spur economic growth.

 

So far, stocks have responded with little more than a wobble. But some investors worry that a continued rise in yields on Treasuries -- which are backed by the U.S. government -- could dim the allure of comparatively riskier investments such as equities and weigh on the S&P 500 that has risen about 75% since last March.

 

“When ... government bond yields rise, all asset prices should reprice lower -- that’s the theory,” said Eric Freedman, chief investment officer at U.S. Bank Wealth Management, adding that he does not believe yields have yet risen far enough to provide an competitive alternative to stocks.

 

The rise in yields comes as the S&P 500 hovers near all-time highs at the end of a fourth-quarter earnings season that has seen companies overall report earnings 17.2% above expectations, according to Refinitiv data. Earnings will continue to be in focus next week along with data tracking the economic recovery and developments with President Joe Biden’s proposed $1.9 trillion coronavirus relief package.

 

Despite solid corporate results, worried investors can point to any number of signs -- including blistering rallies in Bitcoin and Tesla shares and the proliferation of special purpose acquisition companies (SPACs) -- that ultra-easy monetary policy and fiscal stimulus have fueled an excessive appetite for risk that could be curbed if yields start to rise.

 

The latest fund manager survey by BofA Global Research showed a record in the net percentage of investors taking higher-than-normal risk, cash allocations at their lowest level since March 2013 and allocations to stocks and commodities at their highest point in around a decade.

 

Citi strategists said in a report this week that a 10% pullback “seems very plausible,” noting that “if rising bond yields drag down some mega-cap IT growth names... that will impact the broad index as a result of the over-representation of such stocks.”

 

Analysts at Nomura, meanwhile, said earlier this week that a move above 1.5% on the 10-year could spark an 8% drop in stocks.

 

Low yields and interest rates support equities in several ways, such as reducing debt and borrowing costs, making stocks look relatively attractive to bonds and helping increase the value of companies’ future cash flows.

 

At 22.2 times its forward price-to-earnings ratio, the S&P 500’s valuation is well above its long-term average of 15.3, according to Refinitiv Datastream, though several investors said stocks still look relatively inexpensive compared to bonds.

 

Plenty of investors are sanguine about the move, noting that yields appear to be rising due to expectations of an improving economy.

 

J. Bryant Evans, a portfolio manager at Cozad Asset Management, recently added bank and mortgage company stocks to a high dividend portfolio this week to take advantage of the improving economic outlook and rising rate environment.

 

More broadly, he was targeting a 3% yield on the 10-year for when bonds might start competing more aggressively with stocks.

 

“For my clients, I would urge some balance and wait a little bit before moving to fixed income because I think interest rates are still extremely low historically speaking,” Evans said.

 

Paul Nolte, portfolio manager at Kingsview Investment Management, is watching whether rising yields eventually come with a “change in tone at the Fed” that suggest the central bank will start tapering its bond purchases as it reins in its stimulus, which could shake the market.

 

Still, he isn’t pulling back on his equity exposure for now because of the recent rise in yields, convinced a strengthening economy will continue buoying stocks, particularly those that should shine in a recovery such as financials and other value shares.

 

The steeper yield curve, Nolte said, is “the bond market’s way of telling everybody that the economy is recovering and getting healthy.”

 

 

 

U.S. factory activity cools; cost pressures mounting

WASHINGTON (Reuters) - U.S. factory activity slowed in early February likely as a global semiconductor chip shortage hurt production at automobile plants, while prices of inputs and manufactured goods soared, which could heighten fears of strong inflation growth this year.

 

The report from data firm IHS Markit on Friday also showed businesses in the services industry were experiencing higher costs related to the procurement of personal protective equipment, a greater proportion of which they were passing on to clients “through a marked rise in selling prices.”

 

Inflation is being closely watched amid concerns from some quarters that President Joe Biden’s proposed $1.9 trillion COVID-19 rescue package could cause the economy to overheat. The package would be on top of nearly $900 billion in additional fiscal stimulus provided at the end of December.

 

“A concern is that firms’ costs have surged higher, driving selling prices for goods and services up at a survey record pace and hinting at a further increase in inflation,” said Chris Williamson, chief business economist at IHS Markit.

 

IHS Markit’s flash U.S. manufacturing PMI dropped to 58.5 in the first half of this month from a final reading of 59.2 in January. Extreme weather in large parts of the United States was also blamed. The data was in line with economists’ forecasts.

 

A reading above 50 indicates growth in manufacturing, which accounts for 11.9% of the U.S. economy. Manufacturing has powered ahead as the pandemic left Americans grounded at home, shifting demand to household goods from services like airline travel and hotel accommodation.

 

But the coronavirus has disrupted labor at both suppliers and manufacturers, leading to shortages of goods critical to the production processes. Motor vehicle manufacturers have been hit by a semiconductor chip shortage, leading some to temporarily close assembly plants this month.

 

General Motors announced it would take down production entirely at its Fairfax plant in Kansas City during the week of Feb. 8. Ford Motor has reduced shifts at its Dearborn truck plant and Kansas City assembly plant.

 

The supply chain bottlenecks, which are widespread across the manufacturing sector as well as the services industry, have led to higher prices for inputs, including raw materials. The survey’s measure of prices paid by manufacturers shot up to its highest level since April 2011. A gauge of prices received by factories surged to its highest level since July 2008.

 

Though price pressures are expected to rise as last year’s low readings drop out of the calculation, there is no consensus among economists whether higher inflation would stick beyond the so-called base effects.

 

Federal Reserve Chair Jerome Powell said last week while he expected inflation to be boosted by base effects and pent-up demand when the economy fully reopens, that would be transitory, citing three decades of lower and stable prices.

 

The inflation outlook will likely hinge on the labor market, which is currently experiencing considerable slack, with at least 18.3 million Americans on unemployment benefits.

 

While the manufacturing expansion cooled, activity in the services industry gained traction this month.

 

The IHS Markit’s flash services sector PMI edged up to 58.9 from a final reading of 58.3 in January. The highest reading since March 2015 came as new COVID-19 infections and hospitalization rates dropped, allowing authorities to roll back some restrictions on consumer-facing businesses.

 

The services sector, which accounts for more than two-thirds of U.S. economic activity, has borne the brunt of the pandemic.

 

Cost burdens for services businesses increased at their steepest pace since October 2009, leading to firms boosting their selling prices at the sharpest rate on record.

 

Stocks on Wall Street were trading higher. The dollar fell against a basket of currencies. U.S. Treasury prices were lower.

 

Manufacturing and housing are leading the economy’s recovery from the pandemic recession. In a separate report on Friday, the National Association of Realtors said existing home sales rose 0.6% to a seasonally adjusted annual rate of 6.69 million units in January.

 

Economists polled by Reuters had forecast sales would fall 1.5% to a rate of 6.61 million units in January. The second straight monthly increase in sales was despite contracts to buy a home declining for four consecutive months. The NAR attributed the misalignment to different sample sizes.

 

Home resales, which account for the bulk of U.S. home sales, surged 23.7% on a year-on-year basis. The gains have defied tight supply, which has led to a surge in house price inflation. Sales last month were concentrated in the mid-to-upper price range of the market. Sales fell in the Northeast and West. They, however, rose in the South and the Midwest.

 

“Existing home sales will remain strong but will be unable to move significantly higher until more supply appears,” said David Berson, chief economist at Nationwide in Columbus, Ohio.

 

The housing market is being driven by still historically low mortgage rates, and demand for spacious accommodations for home offices and schooling.

 

There were a record-low 1.04 million previously owned homes on the market in January, down 25.7% from one year ago. The median existing house price shot up 14.1% from a year ago to $303,900 in January.

 

At January’s sales pace, it would take 1.9 months to exhaust the current inventory, down from 3.1 months a year ago. A six-to-seven-month supply is viewed as a healthy balance between supply and demand.

 

 

 

Facebook has 'tentatively friended' us again, Australia says

CANBERRA (Reuters) - Facebook Inc is back at the negotiating table, Australian Prime Minister Scott Morrison said on Saturday after the tech giant this week blocked news on its site in the country.

 

Facebook’s abrupt decision to stop Australians from sharing news on the site and strip the pages of domestic and foreign news outlets also erased several state government and emergency department accounts, causing widespread anger.

 

The company has “tentatively friended us again,” Morrison told a news conference in Sydney. “What I’m pleased about it that Facebook is back at the table again.”

 

Facebook has publicly indicated no change in its opposition to a proposed law requiring social media platforms to pay for links to news content. Morrison was not asked about that.

 

Australia’s Treasurer Josh Frydenberg said on Friday he had spoken with Facebook CEO Mark Zuckerberg and further talks were expected over the weekend. It was not clear whether those talks have happened.

 

Representatives for Frydenberg did not immediately respond to requests for comment.

 

The stand-off comes as Australia’s vows to press ahead with the landmark legislation, which could set a global precedent as countries like Canada express interest in taking similar action.

 

The Australian law, which would force Facebook and Alphabet Inc’s Google to reach commercial deals with Australian publishers or face compulsory arbitration, has cleared the lower house of parliament and is expected to be passed by the Senate within the next week.

 

Canadian Heritage Minister Steven Guilbeault said on Thursday his country would adopt the Australian approach as it crafts its own legislation in coming months.

 

Google, which has initially threatened to close its search engine in Australia, has announced host of preemptive licensing deals over the past week, including a global agreement with News Corp.

 

Facebook’s move had an immediate impact on traffic to Australian new sites, according to early data from New York-based analytics firm Chartbeat.

 

Total traffic to the Australian news sites from various platforms fell from the day before the ban by around 13% within the country.

 

 

 

Nigeria: 'How Customs Tariff, VAT Waivers Will Help Airlines'

On January 28, 2021, when Air Peace received its first brand new aircraft from Embraer, the Chairman of the airline, Allen Onyema used the ceremony to let Nigerians know what the Buhari-administration did for the aviation industry.

 

He told his audience about the waiver government gave the domestic airlines on Customs Tariff and VAT, which was an Executive Order on exemption of Customs tariffs and VAT for the commercial operators.

 

The waivers are expected to save airlines estimated N3 billion to N5 billion annually and such money could be ploughed to other areas like training, he estimated.

 

Air Peace Chairman while delivering a speech during the ceremony to receive the new aircraft in Abuja, had explained how the airlines worked with the Ministry of Aviation to secure the Executive Order from President Muhammadu Buhari and its many benefits.

 

"The Minister of Aviation, Senator Hadi Sirika, the Chairmen of Senate and House Committee on Aviation, Senator Smart Adeyemi and Hon. Nnoli Nnaji and Airline Operators of Nigeria (AON) worked assiduously to help aviation industry secure the waivers.

"I especially thank the President of Nigeria for making it possible. Today as this plane has come in we are not going to pay customs duties on the plane and 12 others that will come after it.

 

"Senator Adeyemi, and Hon. Nnaji, we owe all of you a great deal for this feat. What we at AON did was to present those challenges that have been bringing down airlines in Nigeria and we moved to meet the National Assembly Committees on Aviation, and they said the best place to do this is to use a legislation to do it. We met our Minister who took it upon himself to make sure that these things were removed to enable airlines prosper in this country," he had said.

 

He gave kudos to Sirika who pushed the request through the National Assembly and the Presidency and ensured that the Executive Order was signed by the President.

Former CEO of Aero Contractors, Captain Ado Sanusi told THISDAY that the waiver could save the aviation industry about N3 to N5 billion annually, depending on the level of transaction in that particular year, if effectively implemented by the Nigerian Customs.

 

He said that the waiver could be up to five to seven per cent of the cost of aircraft engine, for example, which could be purchased for $5 million and the airline would pay up to 5-7 per cent of that amount.

 

Sanusi also explained that the airlines may not gain directly from the waiver on VAT but it will bring down the cost of air ticket, which could serve as incentive for more people to travel by air because airlines collect the money from passengers and remit them to government.

 

"If Nigerian Customs Service implements the waiver well it will save the aviation industry between N3 billion to N5 billion annually, but VAT will not save airlines anything but it will reduce the cost of tickets.

"This will enable airlines have more cash flow. So if Customs waivers is fully implemented the industry will benefit but right now it is not being implemented well," he said.

 

Speaking on the benefits of the waivers, the Director of Engineering, Ibom Air, Lukeman Animaseun, told THISDAY that the waiver would save Nigerian carriers a lot of money, lamenting about how the taxes eroded the finances of Nigerian airlines in the past, stating that Customs still demand some taxes from airlines on aircraft spares and equipment, explaining that what airlines pay now could not be described as duties but they still pay some kind of taxes to Customs.

 

"There is zero duty on imported spares and aircraft but we still pay some kind of tax, which is 1.5 per cent of the cost of the spares you are importing. This one is not Customs duty or tariff, but it is a kind of tax; so we still pay.

 

"So if you buy aircraft for $50 million and you pay 1.5 per cent of that amount as tax that is a huge some. But that will be more than double if you pay 5 per cent duties on it. But I hope that Customs will follow the Executive Order signed by the President and exempt airlines from paying those taxes," Anumaseun said.

 

It was Customs' failure to abide fully with the Executive Order that prompted the House Committee Chairman on Aviation, Nnaji to call on Customs to respect the new government policy of total exemption of duties on imported aircraft and spares, he said.

 

"The House of Representatives Committee on Aviation has condemned the continued collection of import duties on imported commercial aircraft and spare parts despite the President Muhammadu Buhari's executive order exempting them," Nnaji had said.-This Day.

 

 

 

Mozambique: Court Seizes Bus Company Workshops

Maputo — The Nampula provincial court in northern Mozambique has ordered the seizure of two workshops belonging to the company Nagi Investments, after Nagi failed to compensate passengers injured in a serious traffic accident, according to a report on the independent television station, STV.

 

Nagi, a company set up with Tanzanian capital, operates bus routes across Mozambique. On 19 March 2019, one of its buses, travelling from Mueda in Cabo Delgado to Nampula city, had a serious accident in the Nampula district of Erati.

 

The bus came off the road and overturned. Two passengers suffered major injuries, and in both cases doctors operated to amputate their right arm. The passengers are convinced that excessive speed by the driver caused the crash, and demanded compensation

 

It took a long time for the case to come to court, but in mid-2020 the Erati district court ordered Nagi Investments to pay compensation of seven million meticais (about 95,000 US dollars) to each of the injured passengers.

Nagi should have paid the compensation within ten days, but did not do so. The lawyers for the two passengers appaealed to the provincial court, and demanded that Nagi property should be seized and sold off to pay the compensation.

 

On Wednesday an agreement was reached to pawn two Nagi workshops in Nampula. They are now in the hands of the court, and serve as collateral. If Nagi does not pay the compensation, then the workshops will be sold to raise the money.

 

One of the passengers, 38 year old Neusa Massapa, told STV she is still fighting to overcome the trauma caused by the loss of her right arm. "It changed everything. It was my right arm, and I'm a teacher", she said. "I have work that requires the use of my right hand, and now I can't do it".

 

She recalled that, during the journey, the passengers repeatedly told the driver to slow down, but he refused. The driver said he was driving at speed, because he feared the possibility of a terrorist ambush (though there have never been any terrorist attacks in Erati district).

 

Massapa remembered that the driver showed no respect for the passengers, and told them "if you don't want to travel, you can get off the bus".

 

 

 

Nigeria: Govt Awaits $1.2bn Loan Approval to Implement Critical Agric Initiative

The Senior Special Assistant to the President on Agriculture, Dr. Andrew Kwasari, has said all appeared set for the implementation of the much-awaited Green Imperative project to modernise and introduce mechanised agriculture going forward.

 

Agricultural mechanisation which is a major priority of the federal government to boost the sector is effectively captured in the $1.2 billion green imperative agreement recently signed between Nigeria and the government of Brazil for the production and deployment of 10,000 tractors to be assembled in the country.

 

The agreement also has a component to the implementation of the livestock roadmap to among other things, quell the incessant farmers-herders clashes.

 

According to Kwasari, the loan request is currently before the National Assembly, adding that an earlier borrowing request by President Muhammadu Buhari to the lawmakers was initially stepped down to allow for the amendment of the 2020 budget.

He said: "This project has been in the making for quite some time and we have reached a point where we are completely ready for its take-off."

 

Speaking to reporters in Abuja, the presidential aide said the agreement would address the twin issue around agricultural modernisation and mechanisation as well as agro-processing.

 

Giving further update, he said the project involves a borrowing that would inject Foreign Direct Investment (FDI) of €995 billion ($1.2 billion) that had been structured financially to allow the federal government use its bilateral negotiation to secure interest rate financing that is below three per cent per annum.

 

The agreement also comes with a long gestation period of about $15 years for repayment.

 

However, he said the financing had been structured such that the loan would be reinsured to remove the burden of payment from the federal government.

"This removes the risks of this loan from sitting on our sovereign guarantee because we have sold the risk and reinsured this loan in the international insurance market," he said.

 

He said the programme will be private sector driven adding that all the service centers to be established across the across the country will be owned and operated by private entrepreneurs who will have the responsibility of servicing the loan.

 

He added that under a structure already developed jointly by the Central Bank of Nigeria (CBN), Federal Ministry of Finance, Budget and National Planning and the Federal Ministry of Agriculture, entrepreneurs will be able to access a "loan at domestic level and so what comes to our local entrepreneurs is naira denominated loans."

 

He said: "That will allow entrepreneurs take up these loans, utilise it and pay back effectively.

"So Nigeria is leveraging its bilateral understanding to secure a very cheap loan for entrepreneurs who are private sector people."

 

However, Director, Mechanisation, Federal Ministry of Agriculture and Rural Development, Mr. Abdullahi Abubakar, pointed out that under the green imperative, there will be primary and secondary service centers to deal with production and processing.

 

"For the production, we should expect equipment such as tractors, implements that can be used to serve the farmers in a particular community or local government," he said.

 

Under the initiative, every senatorial district will be covered in the arrangement to produce and deploy agro industrial machinery, on a massive scale across the country.

 

This is expected to enable young men and women to own and operate them and engage in value addition services with the aim of producing high quality and affordable agricultural produce for both the local and external market.

 

The government believes that the successful implementation of the programme will offset the loans.

 

The Minister of Agriculture and Rural Development, Alhaji Sabo Nanono had assured that through the initiative, the country will soon witness an abundance of farm machinery such as tractors, harvesters for enhanced agricultural production complemented, with the training of mechanics, operators and extension support to promote the mechanisation agenda of the present administration.-This Day.

 

 

Mozambique: Agriculture Minister Optimistic About Rice Harvest

Maputo — Mozambican Agriculture Minister Celso Correia on Wednesday visited the country's two largest irrigation schemes, both in the Limpopo Valley, in the southern province of Gaza, and was optimistic that this year they will produce a bumper rice harvest.

 

Mozambique consumes about 900,000 tonnes of rice a year, but only produces 250,000 tonnes. The government hopes that the irrigation schemes in Gaza can go some way towards filling the 650,000 tonne gap.

 

The Chokwe irrigation scheme could produce rice on more than 35,000 hectares, and the Lower Limpopo scheme, has the potential to produce on twice that amount. Nowhere near this amount of land will be cultivated this year, but it is hoped that 42,000 tonnes of rice will be harvested from the Lower Limpopo scheme, and 30,000 tonnes from Chokwe.

According to a report in Friday's issue of the independent daily "O Pais", it is hoped that new peasant farmers will produce on the irrigated land, thanks to transfer of technology from the Chinese company Wanbao Africa Agricultural Development.

 

The farmers have also benefitted from inputs from the Mozambican government's flagship agricultural development policy, Sustenta, including certified seeds, tractors and other agricultural tools.

 

Peasant farmers have been organised into blocks, guided by an "integrator", who is a medium scale farmer. Industries are promising to buy and process the rice produced by the Limpopo farmers.

 

It is hoped that there will be a minimum productivity in the two irrigation schemes of seven tonnes of rice per hectare, rising to a possible 10 or 12 tonnes a hectare, depending on how the peasants manage their land.

At the Lower Limpopo scheme the recent heavy rains forced Correia to abandon his four wheel drive vehicle, and he took to a tractor to see the current state of the rice fields, on 2,000 hectares that had been lying idle, but which have now been parcelled out among 1,500 peasant farmers.

 

The Minister believed that the state of development of the rice showed that the investment made will produce good results.

 

In Chokwe, Correia visited the Josina Machel Association, whose 98 members are overwhelmingly peasant women, who work at least one hectare of land each, producing rice, maize, beans and vegetables. Sustenta has provided them with certified seeds, fertiliser and pesticides, plus technical assistance from an agricultural extensionist.

 

They told Correa that the Association expects its rice production to double, from last year's 300 tonnes to 600 tonnes this year - even though 20 hectares of their land has been inundated.

They asked the Minister to provide them with a tractor, and with a system allowing them to pump water out of flooded fields. They also wanted the government to help them negotiate a better price for their rice.

 

Correia brought good news for the farmers. The seeds they used are insured - they need to speak to their extensionist to handle the documentation needed to claim for losses caused by the flooding.

 

A second Chokwe association visited by the Minister expects to raise its rice production from 729 tonnes in 2020 to over 1,450 tonnes this year. This association does not yet benefit from an extensionist, but Correia promised its members that one will be allocated to them in a matter of days, since the Agriculture Ministry is currently hiring an additional 2,000 extensionists to cover the entire country.

 

There are three rice processing factories in the Lower Limpopo and Chokwe irrigation schemes, but one closed down three years ago. Correia said negotiations are under way for it to reopen within months, since he was convinced that this year there will be a great deal of rice to be processed in the Limpopo Valley.

 

 

Tanzania: Region to Phase Out Bicycles Use in Its CBD

Shinyanga — SHINYANGA region is planning to phase out use of bicycles as means of transport in its central business districts (CBD), and instead introduce commuter buses.

 

Shinyanga Municipal Council Executive Director, Geoffrey Mwangulumbi said the directive will be implemented by April this year.

 

"Commuter buses and tricycles commonly known as Bajaj will be allowed to operate in Shinyanga Municipality as from April this year. After upgrading commuter buses and tricycles as safe means of transport, bicycle services will no longer be allowed in the Municipal centre," said Mr Mwangulumbi during their council meeting held recently.

"We are now coordinating the Hiace type buses and Bajaj to make sure the services are in place as per schedule. We have reached the decision after the councillors demanded that we have reliable transport within the municipality," he added.

 

The Council Director further said all Bus stops in the vicinity are already set to implement the directive, with special routes likely to be introduced after a final meeting with the buses owners.

 

On his part, the Municipal Mayor, Mr David Nkulila, said once the buses will start the business, the bicycles will be forced to shift to remote areas.

 

He said the new public transport services have numerous benefits to the public, including triggering economic growth in the municipal centre.

 

Reached for a comment, many of the interviewed residents supported the move as a formal and secure means of transport.

 

To some, that was not the right time to monopolize roads with buses and Bajaj, which do not go right into homesteads, where the bicycle riders reach to pick them up.-Daily News.

 

 

 

Kenya: A Brave, New Car-Free World for Kisumu City

Motorists will not be allowed into downtown Kisumu every Tuesday, if plans by the county government to have car-free day in the central business district are approved by the assembly.

 

The county government has embarked on an ambitious plan to redesign all the major streets in the lakeside city and turn the CBD into a non-motorised transport area.

 

The initiative, launched by Governor Anyang' Nyong'o on Tuesday, will transform the busy Jaramogi Oginga Odinga Street into a one-way thoroughfare, while parking bays will be relocated to the back street.

 

Governor Nyong'o said the plan was to ensure that pedestrians and cyclists enjoy enhanced convenience and safety.

"Considering that majority of residents visiting the CBD are pedestrians and cyclists, we want them to experience improved accessibility and convenience as they go about their business," he said.

 

Car Free Day

 

The governor spoke during the launch of Kisumu Car Free Day and the Sustainable Mobility Plan. He said the project will be piloted once every month before being fully rolled out.

 

The project is being implemented in partnership with the Institute for Transportation and Development Policy and the United Nations Human Settlements Programme (UN-Habitat).

 

Kisumu City Manager Abala Wanga said Ang'awa Street and Jomo Kenyatta Avenue will be redesigned to come up with the Jaramogi Oginga Odinga Triangle.

 

"The CBD will be a place to walk and do shopping while vehicles entering Oginga Odinga Street will have up to 15 minutes to drop off passengers and pack at the rear side of the street," he said at Central Square.

 

Clamp vehicles

 

"The county inspectorate will clamp vehicles and fine offenders who take more than the allocated time," Mr Wanga said.

 

>From March 30, he said, no public service vehicles will be allowed into the CBD. Mr Wanga said vehicles getting into the city from Busia and Bondo will either use Kondele or Patel roundabouts before entering the main stage through Ngumbi and Ondiek roads.

 

Eventually, the Kisumu bus stage will be relocated to Nyamasaria by the end of the year. He also indicated that the county will demarcate places for parking boda bodas and tuk-tuks to ensure an organized system.- Nation.

 

 

 

Holidays: Travel industry begs for 'route out of crisis'

The travel industry has urged the prime minister to provide a "roadmap" to get people travelling again this summer.

 

A number of travel organisations and businesses have written an open letter to Mr Johnson begging for tailored support to prevent more jobs being lost and businesses going bust.

 

"We urge you to provide a route out of the crisis for the travel industry," it says.

 

Mr Johnson will set out his plans for easing lockdown rules on 22 February.

 

Under the current national restrictions, holidays are not permitted anywhere in the UK. International travel is restricted to essential purposes, such as for work, medical appointments, or education.

 

A government spokeswoman said it has already put in place "one of the most comprehensive and generous packages of business support in the world".

 

But signatories of the letter have asked for further help to safeguard the livelihoods of the hundreds of thousands of people employed in the sector and rebuild the £80bn contribution the sector makes to the UK economy.

 

It was organised by the Association of British Travel Agents and the Save Future Travel Coalition and its signatories include organisations and businesses across the travel industry, such as Tui, EasyJet Holidays and Airlines UK.

 

About 160,000 jobs have been lost and many businesses have closed their doors for good during the pandemic, it says.

 

The economic output for travel fell by 86% for travel agents and tour operators and 90% for aviation, between February and December 2020, according to recent figures from the Office for National Statistics.

 

There has been little opportunity to recover or generate cash since Covid-19 first hit the sector 12 months ago, the letter pointed out, with restrictions in place on international travel for much of the last year.

 

Financial support

The industry said the government needs to provide tailored financial support to help travel businesses through, including grants that take account of the impact of international travel restrictions, and the extension of other support measures, such as business rates relief, into the next financial year.

 

"We also know that the recovery of travel is likely to be gradual, which will require the maintenance of flexible furlough support throughout the summer season, as well as other regulatory alleviations and support measures to help businesses meet their fixed costs," the letter added.

 

On top of that it asked the government to:

 

·         Recognise that the industry "cannot wait" for the full roll-out of the vaccination programme before people start to travel again.

·         Facilitate travel through a recognised certificate to enable restrictions to be relaxed for vaccinated travellers.

·         Return Foreign Office travel advice on Covid-19 to a regional basis, as opposed to a whole country.

·         Ensure advice focuses on the risk to people in destinations.

A financial support system for airports in England opened in January, as all UK travel corridors - which had been in place to allow arrivals from some countries to forgo quarantine - were closed.

 

Aviation minister Robert Courts said at the time that the Airport and Ground Operations Support Scheme "will help airports reduce" additional costs faced due to the pandemic.

 

The scheme had first been announced in November, but without a set start date. It involves grants of up to £8m per applicant, to be used to cover fixed costs, such as business rates.

 

A spokeswoman for the Department for Transport added: "There is continuous work taking place across government looking at how best to support all sectors of the economy, including the travel industry, and the Budget on 3 March will set out the next phase of economic support.

 

"On Monday, the prime minister will set out the roadmap for easing restrictions, which we are seeking to do in a cautious and irreversible way."--BBC

 

 

 

Maersk: Consumers can foot shipping's climate change bill

The boss of the world's biggest shipping firm has told the BBC people would be willing to pay a little bit more for their goods if it helps tackle climate change.

 

>From footwear to medical equipment, shipping can be a big part of any product's carbon emissions.

 

The industry as a whole accounts for about 2% of the global total.

 

That means that if it was a country it would be the sixth biggest polluter, above Germany.

 

Maersk chief executive Soren Skou says that for his company the extra costs of greener energy amount to billions of dollars but "for the individual consumer, for the individual product, it will be almost nothing."

 

It "would in a container with sneakers from Vietnam, translate into something like six cents per pair of sneakers. So I don't think that it will really impact the consumption opportunities for consumers out there. "

 

He says "I'm absolutely sure that this is doable, from a consumer point of view".

 

Mr Skou says his company has "an ambition to decarbonize global logistics".

 

At the moment they spend $4bn (£2.85bn) a year on fuel but to go carbon free "we have to spend maybe double" that amount. Covering those extra costs would mean the prices Maersk charges its own customers would need to increase 20%.

 

Last year shipping rates surged amid problems linked to the coronavirus pandemic.

 

That led Maersk's profits to soar 44% to more than $8.2bn, the vast majority of which came from transporting goods by sea.

 

Those profits are already being invested in reducing emissions.

 

Many years needed

The Danish company recently announced it plans to launch the world's first carbon-neutral liner vessel in 2023, which will have a methanol engine.

 

Prof Alan McKinnon of Germany's Kuehne Logistics University says "the use of methanol certainly offers a longer-term pathway to decarbonised shipping but only in its renewable forms, which are currently in very short supply. Scaling up production and distribution will require huge capital investment and take many years."

 

The shipping industry as a whole is working on a $5bn plan to fund zero-emission vessels.

 

Prof McKinnon, one of the authors of a 2014 report by the Intergovernmental Panel on Climate Change (IPCC) adds: "Efforts to decarbonise logistics also need to be intensified across other parts of the logistics industry".

 

Although 2020 was, says Mr Skou, "a really unique year, in the first two-thirds of the year, actually, global trade was down in volume terms".

 

However things recovered with "quite a jump in the US", and he thinks government stimulus cheques "will drive even more consumer spending on goods." That's important because American consumer spending accounts for about 11% of the global economy.

 

Simon Heaney of the maritime research firm Drewry says preliminary estimates suggest global volumes for container shipping fell by 1-2% last year.

 

However, because "freight rates have skyrocketed the industry at large is set for a year of bumper profits".

 

Food, essentials

Nonetheless Mr Skou does have concerns about the potential for interruptions to global trade because of the pandemic.

 

More than 200,000 seafarers, the crew who staff ships, are currently stuck at sea beyond the end of their contract.

 

Last month, Maersk was one of more than 300 companies and organisations who labelled their fate a "humanitarian crisis at sea" and urged all governments to treat them as key workers.

 

Mr Skou doesn't think the world is yet in danger of running out of crews but stresses the need to allow them to move more freely.

 

"Think about the alternative, if we're not able to keep global trade moving, then we would quickly run out of food, and many other essential products"

 

For Maersk, the problem peaked last summer. "We at any given time have 6,000 people on the ships. 55% of them were out longer than the longest duration of their contract, and we had fixed the problem by Christmas."

 

Maersk can afford mitigations that smaller companies can't. That means there are "hotels that we have leased in the countries where most of our members come from, so that we can isolate them. Before they go on board, we can test them".

 

That means "we know that they don't have the virus when they get on board the ships". With airline flights vastly reduced Maersk is also chartering planes.

 

However a fresh wave of infections means seafarers are getting stranded again. So "the seafarers are really bearing a lot of the problems on their shoulders". That means even without greener ships there are hidden costs to the incessant demand to move everything from toys to electronics around the world.--BBC

 

 

 

Uber drivers are workers not self-employed, Supreme Court rules

Uber drivers must be treated as workers rather than self-employed, the UK's Supreme Court has ruled.

 

The decision could mean thousands of Uber drivers are entitled to minimum wage and holiday pay.

 

The ruling could leave the ride-hailing app facing a hefty compensation bill, and have wider consequences for the gig economy.

 

Uber said the ruling centred on a small number of drivers and it had since made changes to its business.

 

In a long-running legal battle, Uber had finally appealed to the Supreme Court after losing three earlier rounds.

 

Uber's share price dipped as US trading began on Friday as investors grappled with what impact the London ruling could have on the firm's business model.

 

It is being challenged by its drivers in multiple countries over whether they should be classed as workers or self-employed.

 

What's the background to the ruling?

Former Uber drivers James Farrar and Yaseen Aslam took Uber to an employment tribunal in 2016, arguing they worked for Uber. Uber said its drivers were self employed and it therefore was not responsible for paying any minimum wage nor holiday pay.

 

The two, who originally won an employment tribunal against the ride hailing app giant in October 2016, told the BBC they were "thrilled and relieved" by the ruling.

 

"I think it's a massive achievement in a way that we were able to stand up against a giant," said Mr Aslam, president of the App Drivers & Couriers Union (ADCU).

 

"We didn't give up and we were consistent - no matter what we went through emotionally or physically or financially, we stood our ground."

 

Uber appealed against the employment tribunal decision but the Employment Appeal Tribunal upheld the ruling in November 2017.

 

The company then took the case to the Court of Appeal, which upheld the ruling in December 2018.

 

The ruling on Friday was Uber's last appeal, as the Supreme Court is Britain's highest court, and it has the final say on legal matters.

 

Delivering his judgement, Lord Leggatt said that the Supreme Court unanimously dismissed Uber's appeal that it was an intermediary party and stated that drivers should be considered to be working not only when driving a passenger, but whenever logged in to the app.

 

The court considered several elements in its judgement:

 

·         Uber set the fare which meant that they dictated how much drivers could earn

·         Uber set the contract terms and drivers had no say in them

·         Request for rides is constrained by Uber who can penalise drivers if they reject too many rides

·         Uber monitors a driver's service through the star rating and has the capacity to terminate the relationship if after repeated warnings this does not improve

Looking at these and other factors, the court determined that drivers were in a position of subordination to Uber where the only way they could increase their earnings would be to work longer hours.

 

Jamie Heywood, Uber's Regional General Manager for Northern and Eastern Europe, said: "We respect the Court's decision which focussed on a small number of drivers who used the Uber app in 2016.

 

"Since then we have made some significant changes to our business, guided by drivers every step of the way. These include giving even more control over how they earn and providing new protections like free insurance in case of sickness or injury.

 

"We are committed to doing more and will now consult with every active driver across the UK to understand the changes they want to see."

 

What did Uber argue?

Uber has long argued that it is a booking agent, which hires self-employed contractors that provide transport.

 

By not being classified as a transport provider, Uber is not currently paying 20% VAT on fares.

 

The Supreme Court ruled that Uber has to consider its drivers "workers" from the time they log on to the app, until they log off.

 

This is a key point because Uber drivers typically spend time waiting for people to book rides on the app.

 

Previously, the firm had said that if drivers were found to be workers, then it would only count the time during journeys when a passenger is in the car.

 

"This is a win-win-win for drivers, passengers and cities. It means Uber now has the correct economic incentives not to oversupply the market with too many vehicles and too many drivers," said James Farrar, ADCU's general secretary.

 

"The upshot of that oversupply has been poverty, pollution and congestion."

 

Why are some drivers unhappy with Uber?

Mr Aslam, who claims Uber's practices forced him to leave the trade as he couldn't make ends meet, is considering becoming a driver for the app again. But he is upset that the ruling took so long.

 

"It took us six years to establish what we should have got in 2015. Someone somewhere, in the government or the regulator, massively let down these workers, many of whom are in a precarious position," he said.

 

Uber drivers launch legal battle over 'favouritism'

The Uber driver evicted from home and left to die of coronavirus

Mr Farrar points out that with fares down 80% due to the pandemic, many drivers have been struggling financially and feel trapped in Uber's system.

 

"We're seeing many of our members earning £30 gross a day right now," he said, explaining that the self-employment grants issued by the government only cover 80% of a driver's profits, which isn't even enough to pay for their costs.

 

"If we had these rights today, those drivers could at least earn a minimum wage to live on."

 

Will we pay more for Uber rides?

That remains to be seen, but it could potentially happen.

 

When Uber listed its shares in the United States in 2019, its filing with the US Securities and Exchange Commission (SEC) included a section on risks to its business.

 

The company said in this section that if it had to classify drivers as workers, it would "incur significant additional expenses" in compensating the drivers for things such as the minimum wage and overtime.

 

"Further, any such reclassification would require us to fundamentally change our business model, and consequently have an adverse effect on our business and financial condition," it added.

 

What is the VAT issue about?

Uber also wrote in the filing that if Mr Farrar and Mr Aslam were to win their case, HM Revenue & Customs (HMRC) would then classify the firm as a transport provider, and Uber would need to pay VAT on fares.

 

This relates to a judicial review filed by Jolyon Maugham QC in 2019.

 

Mr Maugham, a barrister specialising in tax and employment law, applied to HMRC to ask for a judicial review and that HMRC demand that Uber pay VAT.

 

"I tried to force the issue by suing Uber for a VAT receipt, because I thought that, that way, even if HMRC didn't want to charge Uber, I would be able to force it to," he told the BBC.

 

"The Supreme Court has fundamentally answered two questions at the same time: one is whether drivers are workers for Uber, and the other is whether Uber is liable to pay VAT to HMRC," he said.

 

"It makes it extremely difficult for Uber to continue to resist paying what I understand to be more than £1bn in VAT and interest."

 

HMRC and Uber are still in dispute about the firm's VAT liability.

 

What does this mean for the gig economy?

Tom Vickers is a senior lecturer in sociology at Nottingham Trent University and head of the Work Futures Research Group, which studies the jobs that people do and how they change over time.

 

He thinks the Supreme Court's ruling has wider implications for a lot of other gig economy workers like other private hire drivers, couriers and delivery drivers.

 

"The central point for me is that the ruling focuses on the control that companies exercise over people's labour - this control also carries with it responsibilities for their conditions and wellbeing.

 

"This is even more important in the context of the pandemic."

 

As for Uber, Rachel Mathieson, senior associate at Bates Wells, which represented Mr Farrar and Mr Aslam, said her firm's position was that the ruling applies to all 90,000 drivers who have been active with Uber since and including 2016.

 

"Our position is that the ruling applies to all of their drivers at large," she said.

 

Dr Alex Wood, an Internet Institute research associate on gig economy at Oxford University, disagrees.

 

He told the BBC that because the UK doesn't have a labour inspectorate, these "rules aren't enforced and it falls to workers to bring subsequent tribunals".

 

This means that "in reality, it's very easy for Uber to just ignore this until more tribunals come for the remaining 40,000 [drivers]".--BBC

 

 

 

Retail sales slump in January amid lockdown

Retail sales fell sharply last month with many stores closed amid the latest coronavirus lockdown restrictions, official figures have indicated.

 

Sales sank 8.2% in January from the month before, the Office for National Statistics (ONS) said.

 

Department and clothing store sales were particularly affected last month, the ONS said.

 

However, the share of online sales hit a record high and accounted for over a third of total spending.

 

"The latest national lockdown led to a sharp monthly fall in January's retail sales, with April 2020 the only month on record to see a bigger slump," said the ONS's deputy national statistician for economic statistics, Jonathan Athow.

 

"However, the decrease seen this time was not as large as that of the first lockdown, as some stores have adapted to the current circumstances, with services such as click-and-collect helping to cushion the fall."

 

Online spending hit a record proportion of 35.2% of all sales, he added, while sales at food stores were boosted by the lockdown closures of pubs and restaurants.

 

Feedback from retailers suggested that the closure of the hospitality sector had boosted sales of food and alcohol, the ONS said.

 

Retail sales chart

'Step-change'

Restrictions to non-essential retailers have hit the non-food sector worst during the coronavirus pandemic.

 

Sales in the sector plunged 24.4% in January, although this was not as severe the fall seen during the first lockdown in March 2020.

 

"There are signs that retailers have adapted better to the latest lockdown," said Lisa Hooker, consumer markets leader at accountants PwC.

 

"While non-grocery stores took the brunt of the pain, with sales volumes declining by a quarter, they were still over 50% higher than in the first lockdown last April."

 

She added that while the first quarter of the year is traditionally quieter for retailers, "stores will be hoping that a rapid re-opening will allow shoppers to spend the estimated £10,000 that households have saved on average during the lockdowns".

 

Richard Lim, chief executive of Retail Economics, said he thought the pandemic has "driven a step-change in online shopping".

 

"A new wave of digital shoppers have broken down the initial barriers of setting up online accounts, entering payment details and overcoming issues of trust," he said.

 

Consumers now "seamlessly transition" to online sites and apps discovered during previous lockdowns, Mr Lim added.

 

"It's inevitable that some of these behaviours will become a permanent feature of the industry as consumers embrace a new way to shop and the industry boosts online capacity."--BBC

 

 

 

Covid: Almost two million in UK 'have not worked for six months'

Almost two million people have not worked for at least six months due to the economic impact of the pandemic, according to a report.

 

Those people affected were either unemployed or fully furloughed, the Resolution Foundation think tank said.

 

It is calling for the furlough scheme to remain in place for several months after lockdown restrictions are eased.

 

The Treasury said the government would continue to invest in protecting and creating jobs.

 

Employment concerns

The Resolution Foundation said that of the nearly two million people affected, the majority have been on full-time furlough or have gone from furlough to unemployment and back, while another 700,000 have been officially unemployed.

 

Among those workers currently employed, 8% either expect to lose their jobs in the next three months, or have been told that they will be made redundant, the think tank added.

 

Nye Cominetti, senior economist at the Resolution Foundation, said: "While the UK's economic prospects are finally looking up, job insecurity remains high, particularly among those who have spent long periods not working, or who are currently furloughed."

 

The furlough scheme, which partially covers the wages of people placed on leave, has already been extended through to April.

 

The Resolution Foundation called on the government to keep the scheme in place for several months after public health restrictions have been lifted, giving employers time to recover and bring staff back.

 

It said support should be tailored to sectors of the economy which have been the hardest hit, such as hospitality.

 

A Treasury spokesperson said: "Throughout this crisis, we have done all we can to support jobs and livelihoods, spending over £280bhn in response to the pandemic."

 

"We will continue to invest in protecting and creating jobs through the remainder of the pandemic and through the recovery, and we will set out further details via the next stage of our plan for jobs at the upcoming Budget."

 

More company failures to come?

The Resolution Foundation's recommendation echoes calls made earlier this week by the Institute for Fiscal Studies (IFS) and Citi Research.

 

The IFS warned that lower-income households faced a higher risk of unemployment this year, as "deferred" company failures take place after the furlough scheme ends.

 

It said that it was vital to ensure that the furlough scheme and other government support was unwound gently, rather than coming to an abrupt halt.

 

However, IFS and Citi also said that the economy would not be able to adjust properly as long as the furlough scheme is still in place.--BBC

 

 

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

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.bullszimbabwe.com> www.bullszimbabwe.com 

Blog:            <https://bullszimbabwe.com/category/blogs/bullish-thoughts/> www.bullszimbabwe.com/blog

Twitter:         @bullsbears2010

LinkedIn:       Bulls n Bears Zimbabwe

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

Skype:         Bulls.Bears 



 

 

 


 

INVESTORS DIARY 2021

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


ART

PPC

Dairibord

 


Starafrica

Fidelity

Turnall

 


Medtech

Zimre

Nampak Zimbabwe

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


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.

 


 

 


(c) 2021 Web: <http://www.bullszimbabwe.com>  www.bullszimbabwe.com Email:  <mailto:info at bulls.co.zw> info at bulls.co.zw Tel: +263 4 2927658 Cell: +263 77 344 1674

 


 

 

 

 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210220/8f541f77/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 9458 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210220/8f541f77/attachment-0003.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 31039 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210220/8f541f77/attachment-0002.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.png
Type: image/png
Size: 191693 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210220/8f541f77/attachment-0004.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.png
Type: image/png
Size: 34378 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210220/8f541f77/attachment-0005.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.jpg
Type: image/jpeg
Size: 22328 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210220/8f541f77/attachment-0003.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: oledata.mso
Type: application/octet-stream
Size: 65566 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210220/8f541f77/attachment-0001.obj>