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1. By Tawanda Musarurwa
HARARE -The Minerals Mar-
keting Corporation of Zimba-
bwe (MMCZ) has entered into
a partnership with Belgium's
HRD Antwerp. Which will see
the latter certifying Zimba-
bwe's cut and polished dia-
monds.
HRD Antwerp is a dia-
mond-grading lab whose pri-
mary shareholder is the Ant-
werp World Diamond Centre
(AWDC).
MMCZ chief executive Mr
Richard Chingodza last week
said the certification of val-
ue-added diamonds will
ensure that the country gets a
fair price for the gems on the
international market.
"We have tried to make sure
that our diamonds that have
been cut and polished are cer-
tified.
"So are working with HRD Ant-
werp of Belgium for them to
News Update as @ 1530 hours, Monday 15 February 2016
Feedback: bh24admin@zimpapers.co.zwEmail: bh24feedback@zimpapers.co.zw
HRD Antwerp to certify Zim's beneficiated gems

2. certify our cut and polished
diamonds so that a very prac-
tical price is put on them such
that we do not lose on the
price.
"We have entered into an
agreement in the last few
days and we are happy that
all diamonds that are cut and
polished in this country will be
certified," he said.
The MMCZ is an exclusive
agent for marketing and sell-
ing of all minerals produced in
Zimbabwe except silver and
gold.
According to Mr Chingodza,
the country has been losing
between 15 and 20 percent
on the value of gems since
the "Marange diamonds were
heavily coated."
The Ministry of Mines and
Mining Development has esti-
mated that the country may
have lost out as much as 40
percent from selling unpro-
cessed diamonds.
To this extent, Zimbabwe
has been moving to clean
and value add its diamonds
in order to boost gains from
sales of the precious stones
by licensing several diamond
cleaning, polishing and cut-
ting companies.
Earlier this month, the Minis-
try of Mines commissioned a
second deep- boiling facility.
The MMCZ boss said the cre-
ation of the single diamond
producing entity - the Zim-
babwe Consolidated Diamond
Corporation - will help boost
diamond output for a sector
that is less affected by the
vagaries of prevailing weak
global commodity prices.
"The price fluctuation of dia-
monds is not as bad as that
of platinum and other miner-
als so it's an area that once
we increase production we can
easily get a lot of value from
the sector."●
2 news

3. BH243

4. By Funny Hudzereama
HARARE - Government will
roll out the Consignment
Based Conformity Assessment
(CBCA) programme through
Bureau Veritas starting from
the beginning of next month.
The France based assessment
company signed an MOU with
the Government last year to
assist Government in reduc-
ing the influx of substandard
imports in the country.
Speaking during the CBCA
programme awareness cam-
paign workshop Minister of
industry and commerce Mike
Bimha said the company was
supposed to start its oper-
ations last year but it was
delayed by some technical
things which wanted to be
carried before operations
could start.
“Ladies and Gentleman 1st
of March 2016 marks the
commencement date for full
implementation of the pro-
gramme. In that regard only
fully compliant certificates of
conformity will be required
for clearance of goods that
depart the country of export
on or after 1st of March,” he
said.
Bureau Veritas will provide
pre-shipment services of the
listed products in the country
of export and issuance of cer-
tificates of conformity based
on the national and interna-
tional quality, safety, health
and environment standards.
“ZIMRA in conjunction with
my Ministry officials SAZ and
Bureau Veritas representa-
tives are refining the enforce-
ment modalities and that
means at all ports of entry
non-conforming consign-
ments will be denied entry
into the country.
“Thus importers who will
bring any consignments of
products listed for inspec-
tion not accompanied with
conformity certificate would
be required to take correc-
tive action which would be
required to take corrective
action which could include
taking consignment back to
the exporting country at his
or her expense,” he said.
He added that importers
should abide by the require-
ments of CBCA programme to
avoid any financial losses.
Bureau Veritas is still to
conduct four awareness
programmes in Bulawayo,
Mutare, Beitbrige and Kariba.
“The CBCA programme is
progressing steadily as it
is ensuring that all listed
imported products meet qual-
ity, safety, health and envi-
ronmental standards in line
with World Trade Organisa-
tion agreements.
Indeed the influx of
sub-standard imported goods,
which do not meet required
standards, is negatively
impacting on the competitive-
ness of our local industries,”
he said.
He also said Zimbabwe is not
the only country implement-
ing this programme since
the company has also been
engaged by Uganda, Tanza-
nia, Kenya and to do similar
work.
In his remarks during the
same event Bureau Veritas
Zimbabwe liasing officer Ten-
dai Malungu said Bereau Ver-
itas will construct laboritories
around the country for test-
ing products and assist local
standards monitoring organ-
istions to compete on the
international market.
“We are not only here to
implement the CBCA poro-
gramme, we are here as
investors to benefit the local
people and we are looking
after the CBCA programme,”
he said.
Bureau Veritas is operat-
ing with 1 400 offices in 140
countries with eight global
divisions.●
4 news
Govt to implement CBCA in March

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6. BH24 Reporter
HARARE - Stakeholders in the
agriculture industry have called
on Government to look at ways to
make wheat viable in order to halt
the continuous decline in produc-
tion, with the country now at the
risk of becoming a net importer of
the cereal.
The country has had to import
an average of 185 000 tonnes of
wheat every year to complement
national production, a senior Gov-
ernment official has said.
Zimbabwe requires 400 000
tonnes of wheat every year.
Agriculture, Mechanisation and
Irrigation Development Dep-
uty Minister Davis Marapira said
wheat production had been declin-
ing over the past years, with the
country producing 61 261 tonnes
last season.
He said farmers had been reduc-
ing the hectarage put under
wheat as it had become expensive
to produce the crop due power
shortages and high costs of pro-
duction.
“The country has been importing
an average of 185 000 tonnes
of wheat since 2009 against a
national requirement of 400 000
tonnes," said Deputy Minister
Marapira.
"Wheat production for the 2015
winter season stood at 61 261
tonnes and 40 820 tonnes have
been delivered to the GMB since
April 2015. The general trends
indicate that there has been a
steady decline in the area put
under wheat since 2008.
“This is largely attributed to inter-
mittent power outages, high cost
of production and inadequate
financial resources.”
Deputy Minister Marapira said an
average area of 16 342 hectares
had been planted to wheat over
the past seven years.
Agricultural economists have
always argued that it was more
profitable to concentrate on
something that gives corporate
advantage in terms of production.
Agriculture experts suggest that
wheat has always been a complex
crop for the country, with the sit-
uation worsening in 2008 due to
economic hardships caused by
sanctions that were imposed by
the West.
Agriculture economist Mr Midway
Bhunu said water and electricity
had always been the major rea-
sons for the drop in wheat pro-
duction.
“Other countries have alternative
sources of energy," he said. "We
should consider looking at renew-
able sources of energy to reduce
costs.
“Government should concentrate
on research and development of
wheat varieties that can give high
yields under the country’s climatic
conditions.”
Millers now prefer importing
wheat than buying locally because
of high costs of production.
Farmers have always argued
that while importing may appear
cheap, it will in the long run
become expensive.
Zimbabwe Indigenous Women
Farmers Association Trust pres-
ident Mrs Depinah Nkomo said
Government should prioritise
funding the local farmer to boost
production than relying on imports
for food security.
“Why should we support farmers
in other countries instead of pay-
ing our own farmers?" she said.
"We are keeping South African
companies in business when ours
remain dormant.” ●
6 news
Make wheat production viable, Govt urged

7. BH247

8. By Munesu Nyakudya
HARARE – Samsung Zimbabwe
says it will be opening a service
centre in Harare before the end
of this month.
Samsung Harare branch man-
ager Mr Wilfred Magaya said
locals will now be able to have
their Samsung products ser-
viced within or out of warrantee
regardless of where the products
were purchased.
“We will be opening our service
centre here, that each and every
product that has been purchased
regardless of where it has been
purchased may be serviced here.
"The centre will be opened before
the end of February.
“We know that it will be difficult
to bring bigger items here, so
for the big items we will be mak-
ing outside visits and fix them
there,” Mr Magaya said.
The company is also set to open
an engineering academy by April.
“We are also opening an engi-
neering academy within the next
two months,” he said.
“It is a new thing for Samsung
Zimbabwe that we are proud of.
We are actually happy to provide
this service to the Zimbabwean
market,” Mr Magaya said.
Last month, the Korea-based
telecoms manufacturing giant
commissioned a television and
refrigerator assembly plant in
the country.●
8 news
Samsung Zimbabwe to open service centre in Harare

9. BH249

10. HARARE - The equities mar-
ket opened the week lower,
after the mainstream indus-
trial index shed 0.45 to close
at 100.39 on selected heavy-
weight losses.
Cigarette producer BAT led the
shakers with a $0,2500 loss to
settle at $11,7500, while Simb-
isa shed $0,0040 to $0,1450
and Hippo eased $0,0030 to
trade at $0,3495.
Other losses were in conglom-
erate Innscor which put off
$0,0025 to close at $0,1950
while Delta Beverages shifted
down $0,0020 to trade at
$0,5230.
There were no trades in the
positive territory. Dairibord,
Old Mutual, Pearl and starafrica
were unchanged at $0,0690,
$1,8000, $0,0220 and 0,0080
respectively.
The mining index was steady at
18.74 as all the mining coun-
ters maintained previous price
levels. - BH24 Reporter ●
ZSE10
Industrials open week on a low

11. Movers CHANGE Today Price USc SHAKERS Change TODAY Price USc
Simbisa -2.68 14.50
BAT -2.08 1,175.00
Innscor -1.26 19.50
Hippo -0.85 34.95
CBZ -0.45 11.00
Delta -0.38 52.30
Index Previous Today Move Change
Industrial 100.84 100.39 -0.45 points -0.45%
Mining 18.74 18.74 +0.00 points +0.00%
11 zse tables
ZSE
Indices
Stock Exchange
Previous
02 03
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12. 12 DIARY OF EVENTS
The black arrow indicate level of load shedding across the country.
POWER GENERATION STATS
Gen Station
15 February 2016
Energy
(Megawatts)
Hwange 441 MW
Kariba 285 MW
Harare 30 MW
Munyati 26 MW
Bulawayo 23 MW
Imports 0 - 350 MW
Total 1245 MW
—18 February 2016 - 70th Annual General Meeting of the members of CAFCA ; Place: Boardroom at the company’s registered office
at 54 Lytton Road, Workington, Harare; Time: 12:00 hours
—23 February 2015 - 38th Annual General Meeting of the members of Powerspeed Electrical Limited; Place: Powerspeed Board-
room, Gate 1, Powerspeed Complex, Corner Cripps Road and Kelvin Road North, Graniteside, Harare; Time: 1100 hours
25 February 2016 - Extraordinary General Meeting (“EGM”) of the Shareholders of Radar Holdings Limited; Place: Tanganyika
House, 6th Floor Boardroom, Harare; Time: 0900 hours...
25 February 2016 - The 49th Annual General Meeting of Mashonaland Holdings Limited; Place: The Boardroom, 19th Floor, ZB Life
Towers, 77 Jason Moyo Avenue, Harare; Time: 1200 hours...
26 February 2016 - The Sixty-ninth Annual General Meeting of Ariston Holdings Limited; Place: Ariston Holdings Limited Main
Boardroom, 306 Hillside Road, Msasa Woodlands, Harare: Time: 14.30 hours:
THE BH24 DIARY

13. JOHANNESBURG - THE rand
was firmer on Monday morn-
ing shrugging off disappoint-
ing Chinese trade data.
In dollar terms, exports in
January fell 11,2 percent
from a year ago, far below
the consensus of a 1,8 per-
cent decline. Imports tumbled
18,8 percent from a year ago,
below the 3,8 percent decline
that had been expected.
At 8.48am the rand was at
15,7954 against the dol-
lar from a previous close of
15,8783.,
Against the euro, the rand
was at 17,7267 from 17,8424
and was at 22,9430 against
the pound from 23,0251 pre-
viously.
The euro was at $1,1222 from
$1,1237 previously.
Rand Merchant Bank analysts
said trade would be muted
with US financial and stocks
markets closed for Presidents
Day.
"There are limited risks on
the day due to the US holi-
day. Data risks will emerge
from Wednesday onwards.
Moves today should not be
taken to mean that market
volatility has gone away," the
analysts said.
On the international front,
the dollar rose against the
yen on Monday as Japanese
Prime Minister Shinzo Abe
criticised ‘excessively vola-
tile’ currency markets.
Mr Abe said that excessive
currency volatility was unde-
sirable and Tokyo would take
appropriate action in the
exchange rate market as
needed.
The prime minister’s com-
ments helped the dollar hit
its session high of ¥113,87.
"The dollar was already off
its lows but Abe reminded
markets that intervention
is a possibility," said Kaneo
Ogino, director at foreign
exchange research firm Glob-
al-Info in Tokyo.
The People’s Bank of China
(PBoC) took the opportu-
nity of the US dollar’s recent
decline to fix its yuan at its
highest in more than a month
on Monday, hoping to deflect
speculation about a possible
devaluation.
Perhaps in an effort to head
off any adverse reaction from
Chinese investors, central
bank governor Zhou Xiaoc-
huan said there was no basis
for the yuan to keep depre-
ciating.
Mr Zhou said China would
keep the yuan basically sta-
ble versus a basket of curren-
cies while allowing greater
volatility against the US dol-
lar. –Bdlive/Reuters●
regioNAL News13
Rand shrugs off weak Chinese trade data

14. Oil traded near $30 a barrel
as Iran loaded its first cargo
to Europe since international
sanctions ended and Chinese
crude imports dropped from a
record.
West Texas Intermediate
futures were little changed
in New York, paring earlier
losses of as much as 1,7 per-
cent. Brent in London traded
near $33 a barrel. A tanker
for France’s Total SA was
being loaded Sunday at Kharg
Island while vessels char-
tered for Chinese and Spanish
companies were due to arrive
later the same day, an Iranian
oil ministry official said. Chi-
nese imports in January fell
almost 20 percent from the
previous month, according to
government data.
“Iran is going to add head-
winds to the market,” David
Lennox, an analyst at Fat
Prophets in Sydney, said by
phone. “We still have 500
million barrels of US invento-
ries and shale producers are
still pumping. Until there are
significant cuts to output, the
rally is not sustainable.”
Oil in New York is down about
21 percent this year amid the
outlook for increased Iranian
exports and BP Plc predicts
the market will remain "tough
and choppy" in the first half
as it contends with a surplus
of 1 million barrels a day.
Speculators’ long positions
in WTI through Feb. 9 rose
to the highest since June,
according to data from the US
Commodity Futures Trading
Commission.
WTI for March delivery was
at $29,37 a barrel, down 7
cents on the New York Mer-
cantile Exchange at 7:39
a.m. London time after ear-
lier falling as much as 49
cents to $28,95. The contract
gained $3,23, or 12 percent,
to close at $29,44 on Friday
after dropping 19 percent the
previous six sessions. Total
volume traded was about 11
percent above the 100-day
average. WTI prices lost 4.7
percent last week.
Iranian Shipments
Brent for April settlement
was at $33,41 a barrel on the
London-based ICE Futures
Europe exchange, up 5 cents.
The contract climbed $3,30 to
close at $33,36 on Friday. The
European benchmark crude
was at a premium of $1,59 to
WTI for April.
Iran, which was the sec-
ond-biggest producer in the
Organization of Petroleum
Exporting Countries before
sanctions were intensified
in 2012, is seeking to boost
output by 1 million barrels a
day and regain market share
after penalties were lifted.
Total, Spanish refiner Com-
pania Espanola de Petroleos
and Russia’s Lukoil PJSC all
booked cargoes to sail from
Kharg Island to European
ports, according to shipping
reports compiled by Bloomb-
erg earlier this month.
In the US, drillers idled rigs
for an eighth week to the low-
est level since January 2010,
according to data from Baker
Hughes Inc. The number of
active rigs dropped by 28 to
439, the company said on its
website Friday.
Speculators’ long position
in WTI rose by 1 152 con-
tracts to 302 384 futures and
options, according to CFTC
data. Shorts, or bets that
prices will decline, slipped 2,1
percent. Net-longs increased
5 percent to a three-month
high.
China’s crude imports declined
to the lowest in three months
as state refiners slowed oper-
ations amid swelling stock-
piles of fuel. The world’s
largest energy consumer in
January cut imports by 4,6
percent from a year ago to
26,69 million metric tons, or
about 6,3 million barrels a
day, according to preliminary
data released Monday from
the General Administration of
Customs in Beijing. Imports
reached a record 33,2 million
tons in December. - Bloomb-
erg●
internatioNAL News14
Oil trades near $30 as Iran loads cargo, China imports decline

15. After Peak Debt Comes Deflation
By Henry Hewitt
Paper money, ‘the Heaven-sent leaf’,
is nothing new, but it has not always
been held in high regard nor previ-
ously attained its unquestioned posi-
tion as the lubricant of trade, financial
markets and the road to wealth.
In fact, for most of the last 2 500
years, since Croesus brought scalable
coinage to the world, paper money
has been considered a temporary,
even flaky, alternative to real money
– hard money – gold and silver spe-
cie. Indeed, even in recent memory,
the road to the Emerald City was
paved with ounces of gold, hence the
Yellow Brick Road in the Land of Oz
If you are an investor, this may be the
time to have a serious talk with the
face you see in the mirror and ask:
Have we really moved on from the
‘barbarous relic’? Can paper money
keep its value when all the Central
Bankers and planners in the world
are intent upon printing as much of
it as they possibly can? Is it different
this time?
Who needs paper, you say? Now
we have electronic money, bits and
photons flashing across our screens,
capable of leaping vast oceans at a
single bound. That is different. What
isn’t different is that those bits, and
that paper have to represent some-
thing of value, and in a world where
the ability to produce anything and
everything – from the paper itself,
to copper, aluminum, iron ore, oil
and the ships to move them around
the world – has reached a point that
there seems to be more stuff avail-
able than demand from those who
put that stuff to work, or even on the
shelf expecting to sell it in the not too
distant future.
In the process, driven by animal spir-
its that have always taken markets
to new heights, another summit has
been reached – peak debt. From the
pages of The New York Times we
read: “Beneath the surface of the
global financial system lurks a multi-
trillion-dollar problem that could sap
the strength of large economies for
years to come.”
One sure way to know that the
world’s economy is in a pickle is the
arrival, and continuation, of low,
even zero or negative rates of inter-
est around the world. What does that
even mean? It means that investors
are so concerned they would rather
pay a government or institution for
the privilege of lending them money
than keep it in a local bank or under
the mattress. It happened in 1932,
just before the wheels fell off the US
banking system. It is happening now.
David Stockman, the Reagan Admin-
istration’s boy wonder when it came
to financing ‘supply-side’ economics,
a policy that Mr. Reagan’s presiden-
tial rival in 1980 (George Bush Sr.)
called ‘Voodoo economics’, has seen
the light. “I think it’s the end of an
era . . . [Central Banks] create[d] a
massive credit expansion in the world
that’s stopping . . . Everywhere is at
peak debt . . . Secondly, the Central
Banks are all out of powder. The Fed
has painted itself into a corner . . .
They can’t see what’s coming right at
us which is
a global deflation . . . We’re gonna
have a Capex depression,” he told
Bloomberg on February 9. What a
pity it wasn’t gold paint.
Even if the thought of buying or own-
ing gold is sacrilege to your ears, and
you just cannot bring yourself to do
it, you ought to be asking yourself
if more paper money makes sense
now. When you had that chat with
the face in the mirror did you ask:
“How much faith do you have in paper
money? How much faith do you have
in Central Banks? How much faith do
you have in the fiscal probity of the
government?”
“Attention K-Mart shoppers, shares
that could be bought in 2009 at the
devilishly low price of 666 on the S&P
500 are now going for 2,000. Get ‘em
while they last. Don’t wait for 3,000.”
In other words, shares that were ‘too
risky’ at 666 became ‘prudent’ invest-
ments at 2,000. At 3,000 they should
be risk free. Am I missing something?
If you cannot help yourself and still
believe that the road to wealth and
security lies along the paper trail
(and not a trail of tears), you won’t
be alone:
We few, we happy few, we band of
buyers . . . . . . Be he ne’er so vile,
This trade shall gentle his condition;
And gentlemen in T-Bills now instead
Shall think themselves accurs’d they
were not here, And hold their net
worth’s cheap whiles any speaks
That bought with us upon St. Green-
span’s Day. - Oilprice.com●
15 analysis15 analysis
Will gold be the world's best currency, again?