A digital copy of the BH24 (05 January 2016 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 15:30hrs to give a summary of the day's business news.

1. By Tawanda Musarurwa
HARARE - Origin Global Hold-
ings' move to up its 67,64 per-
cent stake in Zimbabwe Stock
Exchange listed horticultural firm
Ariston appears to be bearing
fruit, with the company indicat-
ing that the proposed transac-
tion now awaiting compliance
with 'routine' regulatory require-
ments.
Earlier indications by sources
privy to the proposed deal
pointed to Origin Global seeking
to convert loans they extended to
the company into equity as part
of balance sheet restructuring.
Such a restructuring would natu-
rally result in the majority share-
holder boosting its equity in the
horticultural firm.
In a cautionary to shareholders
today, Ariston said the "transac-
tion involves a proposal received
by the board from the major
shareholder of the company,
Origin Global Holdings which
is undergoing the normal Zim-
babwe Stock Exchange listing
requirements and other regula-
tory requirements....."
Ariston’s long term borrowings
stood at $7,2 million at the end
of the full year to March 2015, a
jump from $3 million in the pre-
vious comparable period while
short term debt fell from $11,1
million to about $8 million.
For the full year to March Ariston
reported a loss of $820 000 from
a profit of $980 000 registered in
prior year on declining revenue.
Ariston is engaged in horticulture,
tea, macadamia nut production,
fishery, poultry production and
supply of fresh farm produce, and
its key divisions include South-
down Estates, Claremont Estate,
Kent Estate, and Fruit and Vege-
table Company (FAVCO).●
News Update as @ 1530 hours, Tuesday 05 January 2016
Feedback: bh24admin@zimpapers.co.zwEmail: bh24feedback@zimpapers.co.zw
Ariston debt reduction plan edges closer

2. BH242

3. BH24 Reporter
HARARE -The value of mobile
transactions declined between
October and November 2015,
largely due to a dip in transactions
processed through the Real-time
gross settlement (RTGS) system.
According to statistics from the
Reserve Bank of Zimbabwe (RBZ),
a review of the month showed that
mobile and internet transactions
declined respectively while cash
transactions increased.
The RBZ said the value of transac-
tions processed through the RTGS
system decreased by 10 percent
to $3,55 billion, in November
2015, from $3,96 billion in Octo-
ber 2015.
Over the same period, the vol-
ume of transactions registered a
decrease of 8,3 percent, from 156
428 to 143 435 transactions. The
total value of mobile and internet
based transactions declined from
$585,7 million in October 2015, to
$571,3 million in November 2015.
Card-based transactions declined
from $484,3 million in October
2015 to $477,9 million in Novem-
ber 2015. This was largely attrib-
utable to the late payment of sal-
aries to civil servants and other
companies.
The central bank indicated that
the value of cheque transactions
registered a $0,2 million increase
from $11,8 million in October 2015
to $12 million in November 2015.
The total value of mobile and
internet based transactions
declined from $585,7 million in
October 2015 to $571,3 million in
November 2015.
Meanwhile, money supply during
the period rose to 7,5 percent on
the back of improved confidence in
the banking sector, said the RBZ.
“Annual growth in money supply
surged to 7,5 percent in November
2015, from 3,2 percent in October
2015.
"On a monthly basis, broad money
increased by 3,1 percent to $4,74
billion in November 2015. The
increases partly reflected a marked
improvement in confidence in the
banking sector,” RBZ said.
The growth in annual broad money
was due to the increases in savings
deposits by 12,2 percent, demand
deposits 11,8 percent, and long-
term deposits 9,8 percent.
But, short-term deposits declined
by 10,9 percent.●
3 news
Digital payments transactions take a dip

4. BH244

5. HARARE - Government is working
on a raft of measures to address
challenges that have been hin-
dering increased participation of
indigenous Zimbabweans in the
local economy, Finance and Eco-
nomic Development Minister Pat-
rick Chinamasa said on Monday.
Minister Chinamasa told a press
briefing that increased participa-
tion of locals in the economy was
a key enabler to economic growth.
“Foreign investment will come to
complement what local partici-
pants are doing. The ministry (of
Finance) is going to address those
bottleneck issues where we think
we need to nature and enhance
local participation in our economy,”
he said.
“A lot of models are going to be
worked out so that we enhance
local participation in our economy.”
Minister Chinamasa said some of
the challenges included lack of
funding and insufficient entrepre-
neurship skills.
“Those are the issues as we go
forward we are going to have to
tackle and find creative ways of
addressing them,” he said.
Speaking at the same event,
Reserve Bank of Zimbabwe gover-
nor Dr John Mangudya said it was
crucial for Zimbabwe to improve
on domestic investment.
“Investment is not only foreign
investment, we are talking about
both domestic and foreign invest-
ment, they are all needed. In fact
when an economy has got more
domestic investment it means we
keep more money in the econ-
omy,” he said.
Zimbabwe has already crafted
laws including the Indigenisation
and Economic Empowerment Act
meant to increase the participa-
tion of locals in the mainstream
economy.
But, due to limited funding, many
locals have failed to penetrate into
the mainstream economy.
On top of trying to increase
domestic investment, government
is also working on a new 100 day
Action Plan to improve the ease of
doing business in the country and
in turn attract more Foreign Direct
Investment (FDI).
Government has set a target of the
first quarter of this year to achieve
key reforms that will improve the
ease of doing business.
Some of the reforms include
amending the Companies Act,
Shop licencing Act and the Pro-
curement Act while also aiming to
reduce the days it takes to reg-
ister a business from 30 days to
between 10 and 15 days.
FDI into Zimbabwe has been low
over the years owing to a number
of reasons including portrayal of
the country as an unsafe invest-
ment destination by Western
media.
Investors have also been shunning
Zimbabwe due to the negative
view of the indigenisation laws the
country is implementing.- New
Ziana.●
5 news
Minister Chinamasa
Govt keen on increasing economic opportunities for locals

6. BH246

7. By Funny Hudzerema
HARARE - Total Gross Premium
Written (GPW) by non-life rein-
surers has increased by 7 percent
from $56,25 million to $60,18 mil-
lion for the half year ended June
30, 2015.
According to the latest non-life
reinsurers report for the period
released by the Insurance and
Pensions Commission the increase
in business of non-life reinsurers
was attributed to an upsurge in
the volume of business written in
engineering and fire reinsurance
which amounted to $2,21 million
and $1,89 million respectively.
“Personal Liability and engineer-
ing reinsurance were the fastest
growing business classes in terms
of GPW during the period under
review while the bonds and health
insurance recorded the highest
percentage decreases in gross
premium written,” said the IPEC.
The Gross premium written
amounting to $5,49 million, which
accounted for 9,12 percent of total
GPW for the half year ended June,
30 2015, was sourced from out-
side Zimbabwe.
The report indicated that GPW by
reinsurers from the local market
was in line with reinsurance pre-
miums ceded by direct insurers
implying reduced direct placement
of business by local insurers to
reinsurers outside Zimbabwe.
IPEC said there were no significant
changes in the distribution of busi-
ness written with fire and motor
reinsurance remaining the domi-
nant classes of business.
The two business classes
accounted for a total of 59,65
percent of total gross premium
written during the half year ended
June 30, 2015 compared to 62,47
percent reported in the compara-
tive period in 2014.
Total assets for non-life reinsurers
amounted to $128,02 million as at
30 June 2015, reflecting no signif-
icant change from $128,10 million
that was reported as at March 31,
2015.
The report by IPEC also indicated
that there were no significant
changes in the industry average
retention ratio which was 67,12
percent for the half year ended
June 30, 2015 compared to 66,64
percent reported in the compara-
tive period in 2014.●
7 news
Non-life reinsurers GPW up 7pc

8. HARARE -The equities market
continues on a downward trend
in the new year. Today the main-
stream industrial index lost 0.04
to close at 114.31 after croco-
dile skin producer Padenga shed
$0,0053 to trade at $0,07200
while First Mutual and Pearl Prop-
erties both closed at $0,0220
after losing $0,0010 apiece.
Hotelier Meikles eased $0,0010
to trade at $0,084 and telecoms
giant Econet shed $0,0009 to
$0,2101.
On the upside Delta Bever-
ages gained $0,0034 to close
at $0,7000, NMBZ moved up
$0,0016 to settle at $0,0367
and Simbisa was up $0,0010 to
$0,1570.
The mining index was flat at
24.27 as Bindura, Falgold,
Hwange and RioZim maintained
previous price levels at $0,0160,
$0,0050, $0,0300 and $0,1040
respectively. - BH24 Reporter ●
ZSE8
Industrials extend losses
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9. BH249

10. Movers CHANGE Today Price USc SHAKERS Change TODAY Price USc
NMBZ 4.55 3.67 Padenga -6.85 7.20
Simbisa 0.64 15.70 First Mutual -4.34 2.20
Delta 0.48 70.00 Pearl -4.34 2.20
Barclays -1.17 4.20
Meikles -1.17 8.40
Econet -0.42 21.01
Index Previous Today Move Change
Industrial 114.35 114.31 -0.04 points -0.03%
Mining 24.27 24.27 +0.00 points +0.00%
10 zse tables
ZSE
Indices
Stock Exchange

11. 11 DIARY OF EVENTS
The black arrow indicate level of load shedding across the country.
POWER GENERATION STATS
Gen Station
05 January 2016
Energy
(Megawatts)
Hwange 415 MW
Kariba 588 MW
Harare 0 MW
Munyati 15 MW
Bulawayo 18 MW
Imports 0-100 MW
Total 1058 MW
THE BH24 DIARY

12. JOHANNESBURG - South Afri-
ca's rand was flat against the
dollar on Tuesday, with traders
and analysts expecting side-
ways trade as the market slowly
gets back to full steam after the
year-end break.
Stocks opened a touch
firmer, with the JSE securities
exchange's Top-40 index adding
0,45 percent.
By 0700 GMT the rand traded at
15,540 against the dollar, just
0,06 percent firmer than Mon-
day's New York close.
Government bonds were
slightly firmer with the bench-
mark 2026 instrument yielding
2 basis points lower at 9,705
percent.
The rand weakened about 25
percent versus the dollar in
2015 on concerns about weak
local growth and as expecta-
tions of higher US interest rates
dented appetite for emerging
markets.
"Given the tough end to the
year ... it is to be expected that
trades will not try and get too
involved just yet and are pos-
sibly hoping for some sort of
decent liquidity to drift back
into the market," Standard
Bank trader Warrick Butler said.
- Reuters●
regioNAL News12
Rand flat, stocks open a touch firmer Angola's kwanza weakens more than 15pc
against dollar - cbank
LUANDA - Angola's kwanza
tumbled more than 15 percent
against the dollar on Monday,
central bank data showed,
as Africa's second-largest
oil exporter reels from weak
global oil prices and high
demand for the more stable
dollar.
In addition to the fall in the
price of oil, domestic petrol
prices rose sharply on Jan.
1 as the government cut its
subsidies, in a move likely to
push up inflation and weaken
the domestic currency further.
Data on the Bank of Angola
website showed the kwanza
was officially bid at 154,835
against the greenback com-
pared with 134,573 on Dec.
31.
"This is an adjustment to
reduce the gap between the
exchange rate from the cen-
tral bank and the exchange
rate from the street market,
which is the real market,"
chief executive officer of
state-owned Bank of Com-
merce and Industry, Jorge
Peres said.
The kwanza is now down more
than 50 percent since January
2015.
- Reuters●

13. Oil held losses below $37 a barrel
before US government stockpile
and production data and as China
moved to support its markets after
a broader slump on Monday.
Futures were little changed in New
York after falling 0,8 percent Mon-
day. US crude inventories were
probably unchanged last week,
keeping supplies more than 130
million barrels above the five-
year average, a Bloomberg sur-
vey showed before government
data Wednesday. China-controlled
funds bought equities and regula-
tors signaled a selling ban on major
investors will remain beyond this
week’s expiration date, according
to people familiar with the matter.
Oil capped the biggest two-year
loss on record in 2015 as ample
US crude stockpiles sustained a
supply glut and the Organisation
of Petroleum Exporting Countries
effectively abandoned production
limits.
As investors assess the impact of
Saudi Arabia cutting ties with Iran,
they are also watching measures
by China to prevent the country’s
financial-market volatility from
weighing on an already-slowing
economy.
“It’s going to be a very volatile
year for oil,” Evan Lucas, a mar-
ket strategist at IG Ltd. In Mel-
bourne, said by phone. “There will
be spikes, there will be bad news
with supply increases, it’s going to
be very tricky. Prices are likely to
remain at current levels, possibly
go slightly lower.”
Oil Stockpiles
West Texas Intermediate for Febru-
ary delivery was trading at $36,83
a barrel, up 7 cents, at 3:27 p.m.
Hong Kong time on the New York
Mercantile Exchange. The contract
lost 28 cents to close at $36,76 on
Monday after advancing as much
as 3.6 percent amid the height-
ened Middle East tension. Prices
slid 30 percent last year.
Brent for February settlement was
unchanged at $37,22 a barrel on
the London-based ICE Futures
Europe exchange. The contract
dropped 6 cents on Monday. The
European benchmark crude traded
at a premium of 39 cents to WTI.
U.S. crude stockpiles probably
remained unchanged at 487.4 mil-
lion barrels last week, according to
the median estimate in a Bloomb-
erg survey before a report from
the Energy Information Adminis-
tration. Refinery rates increased
by 0.2 percentage points to 92,8
percent of capacity, the survey
shows.
China Rout
Chinese government funds pur-
chased local stocks on Tuesday
after a 7 percent tumble in the
CSI 300 Index on Monday trig-
gered a market-wide trading halt,
said the people, who asked not
to be identified because the buy-
ing wasn’t publicly disclosed. The
China Securities Regulatory Com-
mission asked bourses verbally to
tell listed companies that the six-
month sales ban on major stock-
holders will remain valid beyond
Jan. 8, the people said.
Saudi Arabia cut ties with Iran fol-
lowing an attack on its embassy
in Tehran by demonstrators pro-
testing the execution of a promi-
nent Shiite cleric. While the Sau-
dis’ move to isolate Iran raises
the specter of deepening conflicts
in the Middle East, the impact on
prices is limited because of the
global surplus, according to Mac-
quarie Group Ltd. and FGE, an
industry consultant.
Saudi Arabia produced 10.25 mil-
lion barrels of oil a day in Decem-
ber, helping to keep daily OPEC
output above 32 million barrels
for a seventh month, according
to data compiled by Bloomberg. -
Bloomberg●
internatioNAL News13
Oil holds loss before US data as China seeks market support

14. By Cecilia Jamasmie
Despise missing expectations
for the year, uranium —the
radioactive material used as
fuel for power-generation
plants— has emerged as the
best-performing mining com-
modity of 2015.
Spot uranium prices last traded
at $35,80 per pound, less than
the expected $40 per pound
expected, but on track for
gains of 0,85 percent since
starting the year at $35,50/lb,
according to Australian invest-
ment bank, Macquarie.
The metal that powers nuclear
reactors has been gradually
recovering from a sharp decline
in the wake of Japan’s Fukus-
hima disaster in 2011, and
analysts expect the commodity
to continue putting a smile on
investors’ faces next year, as
prices are set to keep climbing.
Credit Suisse, for one, fore-
casts that spot uranium prices
will gain in 2016 to average
$40 a pound, before reaching
$45 in 2017, $50 in 2018 and
$60 a pound in 2019.
Investment bank Cantor
Fitzgerald is also bullish on
uranium, anticipating a supply
crunch in the near future, as
the drive for "clean" sources of
energy encourages countries to
use non-polluting fuels, Invest-
ing News reported:
“Cantor Fitzgerald estimates
global uranium demand for
2017 and 2018 at 198 million
pounds and 201 million pounds
U3O8, respectively; as of 2017,
about 25 million pounds U3O8
will be uncovered, with that
number falling to 40 million
pounds by 2018. These num-
bers translate into uncovered
amounts of 13 and 20 percent,
respectively, with the uncov-
ered portion growing at a rapid
rate in the following years.
“What’s more, available sup-
ply from stockpiles and exist-
ing uranium operations likely
won’t be able to match the new
demand coming into the mar-
ket.”
Asian demand
That demand is likely to come
mainly from Asia, particularly
from China, which is aiming
to have 58 gigawatts of nucle-
ar-generating capacity by
2020. Of the 64 reactors cur-
rently under construction glob-
ally, 21 are in China, accord-
ing to the International Atomic
Energy Agency.
In fact, the Asian giant is on
track to replace the US as the
world's top uranium consumer,
according to Washington D.C.'s
Center for Strategic and Inter-
national Studies.
Demand from Japan and India
are also expected to push pro-
cess higher. Tokyo restarted
two nuclear energy facili-
ties earlier this year and has
approved the restarting of two
more in 2016, although this is
subject to an injunction appeal.
India, in turn, plans to produce
25 percent of its electricity
from nuclear power by 2050,
according to the World Nuclear
Association. - Mining.com ●
14 analysis14 analysis
This was the top-performing mining commodity of 2015