Bulls n Bears Investors Notebook : 21 June 2023

Wed Jun 21 08:30:26 CAT 2023

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Bulls n Bears Investors Notebook : 21 June 2023

 <mailto:info at bulls.co.zw> 

Bulls 'n Bears Investors Diary: Today's Events

Quotable Quote:

Relations are all about: Winning, Losing & Sharing.
Winning Trust, Losing ego

Econet increases tariffs again   

ECONET Wireless Zimbabwe, the country's largest mobile network operator has
with effect from today (Tuesday) hiked data bundles by up to 300 percent.
"We are reviewing our ZWL data and SMEs bundle prices effective Tuesday, 20
June 2023," it said in a brief notice. An 8 gig private WIFI data bundle now
costs ZW$111 342 up from ZW$37 114 while a 15 gig bundle is now available
for ZW$201 033 up from ZW$67 011.  <https://bullszimbabwe.com/> Read more >

Zimbabwe hosts incentive travel summit   

Zimbabwe will be hosting the Society for Incentive Travel Excellence (SITE)
Executive Summit set for Victoria Falls from Wednesday 21 June to Friday 23
June. Zimbabwe Tourism Authority Chief Executive Officer, Ms Winnie
Muchanyuka said hosting the summit presents an opportunity for the country
to position itself as a strong emerging destination for incentive travel,
and rubber stamps the country's Meetings, Incentives, Conferences and
Exhibitions (Mice) agenda.  <https://bullszimbabwe.com/> Read more >

 <mailto:info at bulls.co.zw> 

For more business & financial updates log onto
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Zimbabwe records notable agro-processing growth   

THE Confederation of Zimbabwe Industries (CZI) has commended notable growth
in the agro-processing industry that has been registered in the past few
years. CZI chief executive officer Ms Sekai Kuvarika said the growth the
country to significantly exploit the African Continental Free Trade Area
(AfCFTA).  <https://bullszimbabwe.com/> Read more >

Official bank rate latest   

THE Zimbabwe Dollar slightly weakened against the United States dollar at
the weekly forex auction system where it traded at Z$ 6 9296 to the
greenback from US$1:ZW$5 978 last week. In an update, the Reserve Bank of
Zimbabwe (RBZ) on today (Tuesday) said only US$1,1 million was allotted to
the auction system against US$2,9 million which was allotted last week.
<https://bullszimbabwe.com/> Read more >

Hwange, Kariba increase power generation   

Zimbabwe power generation reached 1 628 megawatts on Monday with Hwange and
Kariba Power Station stations sharing the output generated with significant
improvements expected to ease the energy supply burden and boost production
efficiency. According to the daily production figures from Zimbabwe Power
Company (ZPC), Kariba Power Station produced 818MW while Hwange Thermal
Power Station produced 810MW.  <https://bullszimbabwe.com/> Read more >

ZNCC partners ZimTrade to market Matabeleland businesses   

The Zimbabwe National Chamber of Commerce (ZNCC) is partnering with ZimTrade
to identify more conducive and lucrative markets for businesses in
Matabeleland. ZNCC Matabeleland region chairperson Mr Mackenzie Dongo told
Business Chronicle that businesses in the region have a role to play in
stimulating the country's economic growth hence the need to expose them to
lucrative markets.  <https://bullszimbabwe.com/> Read more >

Late-to-plant wheat farmers urged to shift focus   

WHEAT farmers who could not meet the 15 June winter planting deadline have
been urged to stop planting and instead shift focus towards effective
agronomic practices, disease, weed and irrigation management. Late planting
of wheat negatively affects yields, reduces quality and exposes the wheat
crop to risk of destruction by early rains.  <https://bullszimbabwe.com/>
Read more >

 <mailto:info at bulls.co.zw> 

Zimbabwe secures US$400 million facility from Afreximbank   

Zimbabwe has secured a US$$400 million facility from the Africa Export
Import Bank (Afreximbank) giving a major financial boost to the Second
Republic's programmes being implemented to stimulate economic growth.
Speaking to the media here yesterday at the Afreximbank 30th Annual
Meetings, Reserve Bank of Zimbabwe Governor Dr John Mangudya said the
country expected to start drawing down from the facility this week.
<https://bullszimbabwe.com/> Read more >

Truworths seeks to raise ZWL$2,2bn in rights offer   

LISTED clothing retailer, Truworths seeks to raise an estimated ZWL$2,2
billion additional working capital from a proposed a Renounceable Rights
Offer of 384 067 512 shares saying if the plan is not implemented it will be
unable to effectively sustain its operations and growth. It added that it
will also face severe cash flow constraints, high finance costs and reduced
working capital. A renounceable right is an offer issued by a corporation to
shareholders to buy more shares of the company's stock, usually at a
discount.  <https://bullszimbabwe.com/> Read more >

Mining contributes 19pc in taxes, levies   

Zimbabwe's mining sector last year contributed 19 percent of its revenue as
taxes and levies to the Government while the average for sub-Saharan mining
industry was 8,1 percent. In terms of exports, in the period under review,
the sector accounted for 80 percent compared to 51,2 percent in the region
while foreign direct investment was 73 percent compared to 31,7 percent for
the region.  <https://bullszimbabwe.com/> Read more >

Mangudya throws weight behind PAPSS   

Zimbabwe's Central Bank Governor, Dr John Mangudya, has thrown weight behind
the Pan-African Payment and Settlement System, a cross-border financial
market infrastructure enabling payment system across Africa. PAPSS was
developed by Afreximbank and is described as a leading-edge technology
connecting African banks, payment service providers and other financial
market intermediaries.  <https://bullszimbabwe.com/> Read more >

Lobby groups challenge Afreximbank not to support coal fired projects   

Some lobby organisations in Africa have called on Afreximbank to stop the
ongoing support of coal-fired electricity generation projects due to their
devastating effects on climate.  In a joint statement, the Environment
Governance Institute Uganda, Friends of the Earth in Togo, Alliance for
Empowering Rural Communities, and AbibiNsroma Foundation, argued that the
continued investment in fossil fuel projects undermines efforts to achieve
the 1,5 degrees Celsius climate target and the Sustainable Development
Goals.  <https://bullszimbabwe.com/> Read more >

Econet on 5G network expansion drive   

Listed telecoms giant, Econet Wireless Zimbabwe, has embarked on a 5G
network expansion in an effort to support the digitalisation drive that has
swept not only across Zimbabwe, but globally with massive potential to
transform economies. The 5G network has potential to support millions of
devices at ultrafast speeds and potential to transform global economies by
improving accessibility, extending reach of mobile broadband, while
supporting critical sectors such as health, financial, education services
sectors as well as manufacturing.  <https://bullszimbabwe.com/> Read more >

TSL explores strategic partnerships

ZIMBABWE Stock Exchange-listed Tobacco Processing Company (TSL) says it will
continue to pursue its "moving agriculture" strategy despite a difficult
operating environment to create value for shareholders. This comes as the
group continues to explore strategic partnerships both locally and
regionally to enhance its market presence.  <https://bullszimbabwe.com/>
Read more >

Croco bags top Eicher business growth in Africa award

MULTI -franchised motor dealer, Croco Motors has been awarded the 'Highest
Business Growth' accolade in the region at the Eicher Annual Dealer
Conference in Dubai recently.  <https://bullszimbabwe.com/> Read more >

INVESTORS DIARY 2023

Company

Event

Venue

Date & Time

Heroes' Day

Aug 14

Defence Forces Day

Aug 15

REST OF AFRICA

Counters Trading Under Cautionary

CBZH

GetBucks

EcoCash

TSL

Econet

Turnall

First Capital Bank

ZBFH

Fidelity

Zimplow

FMHL

Post your event (AGM, EGM, Analysts Briefing, etc) on the Investor Diary
free of charge and reach out to the market. We have annual gold prices since
1900, monthly since January 1971 and daily prices since January 2000. We
also provide historical ZSE prices on request.

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Bulls n Bears 

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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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