By Tawanda Musarurwa

HARARE -Getbucks Financial Services, which l isted on the Zimbabwe Stock Exchange yesterday, made history for being the first company not to trade on its f irst day of l isting as there were no tak-ers for the company shares.

Getbucks is the first IPO to l ist since 2007 when engi-neering firm ZECO listed. Following its l isting, the ZSE announced that the company now has 1,093,567,251 new shares in issue.

These are basically the shares held by shareholders which are tradable or ' issued share capital '.

Yesterday, GetBucks released the results of their

IPO which raised $73 363 from the general public,

while the balance of $3,22 mil l ion was raised from the underwriters.

GetBucks Zimbabwe is owned 55 percent by Mauritius-reg-istered GetBucks Limited and 34,06 percent by local f irm Brainworks Capital, with pension funds holding the remaining shares.

The ZSE has suffered a drought of new listings and the other l istings on the market over the last couple of years have been achieved by way of Introduction.

In 2015, Simbisa Brands and Proplastics l isted on the ZSE by way of introduction.●

News Update as @ 1530 hours, Friday 15 January 2016Feedback: bh24admin@zimpapers.co.zwEmail: bh24feedback@zimpapers.co.zw

Getbucks fails to trade on listing

MyBucks Global CEO Dave van Niekerk

BH24

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By Funny Hudzerema

HARARE - Zimbabwe to date exported 21,1 million kilogrammes of Virginia tobacco worth $160,9 million since trading commenced last year.

The golden leaf has been sold at an average price of $7, 61 per kg.

During the samel period last year, the country has exported a total of 7,3 million kg of tobacco worth $51,2 million at an average price of $7,02 per kg, reflecting a sig-nificant upturn in both volume and value in the current export season.

The bulk of the locally produced tobacco has been destined for the Chinese market. Latest figures from the Tobacco Industry and Marketing Board (TIMB) show that China has imported a total of 18,6 million kilograms of the golden leaf

at a total value of $150,7 million at an average price of $8,10 per kg.

Besides China, the other top buyers of Zimbabwe’s golden leaf (in terms of mass) include Belgium which imported 894 040 kg worth $4,3 million at $4,85 per kg, followed by neighbouring South Africa, which has to date purchased 557 400 kg for $1,2 million at $2,21 a kg.

In fourth position is Indonesia which spent $2,2 million on 473 220 kg at an average price of $4,84 a kg, followed by the Rus-sia that bought 268 400 kg for $1 million at $4,08 per kg. The United Arab Emirates has so far purchased

178 200 kg for $578 160 at $3,34 per kg, while Armenia scooped up 79 200 kg for $229 680 at $2,90 per kg.

Vietnam has so far shelled out $128 000 for 40 000 kg at $3,20 per kg, with Holland buying 19 800 kg for $176 170 at $8,90 per kg.

Taiwan purchased 19 200kg of Zimbabwean tobacco to the value of $88 512 at an average price of $4,61 per kg.

Tobacco is one of Zimbabwe’s major agricultural exports, accounting for over 10 percent of the country’s gross domestic product.●

3 NEws

Zim exports tobacco worth $161m

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BH244

HARARE - The Zimbabwe Council for Tourism (ZCT) will next month hold a convention in the resort town of Victoria Falls to tackle issues affecting the industry.

Formed in 1988, the ZCT is the voice of operators in the travel and tourism sector, representing players in eight sectors among them hospital-ity, tour operators, airlines as well as car hire companies.

ZCT president Francis Ngwenya said they decided to replace their annual con-gresses with a convention since the former restricted attendance mainly to mem-bers of the organisation.

“The tourism convention will be a platform for the widest possible focus on matters related to the travel and tour-ism sector,” he said.

“No such national tourism gathering has been convened in Zimbabwe since independ-

ence.”

The meeting, which will run from February 10 to 12, will be held at Elephant Hills hotel and is expected to attract over 300 delegates.

Participants are also expected to come from regional coun-tries including Angola, Bot-swana, Mozambique, Namibia,

South Africa and Zambia.

It will run under the theme, “Growing emerging economies through tourism develop-ment.”

“The event will be a boost for business in Victoria Falls which traditionally is low dur-ing February,” Ngwenya said.

He said the gathering would be critical in mapping strat-egies towards ensuring the country attained the target of boosting tourist arrivals to

5 million by the year 2020 and to earn the targeted $5 billion.

- New Ziana.●

5 NEws

ZCT to hold tourism convention in Vic Falls

BH246

HARARE - The Zimbabwe Farmers Union is urging farmers to prepare for future droughts by investing in irri-gation and water harvesting infrastructure as the severity of climate change is increas-ing.

ZFU executive director Paul Zakariya said farmers should plan for the future in order to be prepared if the country was to experience more dry spells.

“As a Union we urge farm-ers to look into the future and employ alternatives that include irrigation and water harvesting as relying on rain is not the way to go, given the rapidly changing climate,” he said.

Mr Zakariya said water har-vesting, which many farmers did not practice, should be adopted as soon as possible in order to lessen the hardships that farmers throughout the country experienced.

“Farmers should practice water harvesting in order to supple-ment the poor rains,” he said.

Water harvesting is the collec-tion of runoff for productive

purposes.

“Instead of runoff being left to cause erosion, it is harvested and utilized. In the semi-arid drought-prone areas where it

is already practiced, water harvesting is a productive form of soil and water conser-vation,” said Zakariya.- New Ziana.●

7 NEws

Irrigation and water harvesting the way to go

BH248

HARARE - The equities market continued to show bearish form as the mainstream industrial index dropped 2.28 (or 2,03 per-cent) on a week-on-week basis.

Following trading today, which typified by low activity, the indus-trial index shed 1.26 to close at 109.88.

A mere two counters traded in the red. Beverages producer Delta slumped $0,0270 to close at $0,6405 and Fidelity Life eased $0,0025 to $0,0975.

No counter traded in the posi-tive territory as heavyweights BAT, Innscor and SeedCo were unchanged at $12,2000, $0,2400 and $0,8375, respectively.

The mining index was unchanged from yesterday at 21.74 as Bind-ura, Falgold, Hwange and RioZim maintained previous price levels at $0,0128, $0,0050, $0,0300 and $0,1040, respectively.

Compared to the previous week, the mining index was down 1.74 (or 7,41 percent). - BH24 Reporter ●

ZsE9

Bourse extends losses as week ends

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MoVERs CHANGE TodAy PRICE UsC sHAKERs CHANGE TodAy PRICE UsC

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INDUSTRIAL 111.14 109.88 -1.26 points -1.13%

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11 dIARy oF EVENTs

The black arrow indicate level of load shedding across the country.

PowER GENERATIoN sTATs

Gen Station

15 January 2016

Energy

(Megawatts)

Hwange 562 MW

Kariba 699 MW

Harare 0 MW

Munyati 22 MW

Bulawayo 24 MW

Imports 100 MW

Total 1338 Mw

21 January 2016 - CZI/Herald Business Annual Economic outlook 2016 Half day symposium; Venue: Meikles Hotel, Harare; Time: 08:30 to 12:50hrs

10 February 2016 - Nampak Zimbabwe Annual General Meeting: Venue 68 Birmingham Road, southerton, Harare: Time 12:00

THE BH24 dIARy

JoHANNEsBURG - South Africa's rand weakened in early trade on Friday, erasing gains of the previ-ous session, as global risk aversion caused by fears over the health of the global economy on falling oil prices hit risk assets.

Stocks were however set to open slightly firmer at 0700 GMT, with the JSE securities exchange's Top-40 futures index adding 0,50 per-cent.

Today's big event in the local equi-ties market is the listing of the

world's largest brewer, Anheuser Busch InBev on the Johannesburg Stock Exchange after the Bel-guim-based brewer won over peer SABMiller in October.

The rand was 0,73 percent weaker at 16,5700 by 0650 GMT compared with Thursday's close of 16,4500.

China's fragile economy, lower oil prices and local fundamentals undercut sentiment in Africa's most advanced economy, analysts said.

"The rand has reattached to these global themes. It will not take much to get the rand moving again as the US, China, oil and local sen-timent all provide meaningful risk," said Rand Merchant Bank currency strategist John Cairns.

Although the oil price decline is good for South Africa and the rand given that the commodity is the country's biggest single import, Cairns said "global sentiment is still very fragile."

In fixed income, the yield on the benchmark government bond maturing in 2026 shed 3 basis points to 9,630 percent

- Reuters●

REGIoNAl NEws 12

Rand weakens on fragile global sentimentKenyan shilling

steady, seen easing

NAIRoBI - Kenya's shilling was stable on Friday and traders said it was expected to weaken next week due to increased dol-lar demand from importers.

At 0717 GMT, commercial banks quoted the shilling at 102,35/45 to the dollar, the same as Thursday's close.

"It's very quiet. Both coun-ters, demand and supply are very well-matched. Next week we expect the shilling to be under pressure. We will have more demand ... from general importers and manufacturers," a senior trader at one commer-cial bank said

.- Reuters●

Chinese stocks fell back into a bear market, wiping out gains from an unprecedented state rescue campaign as investors lose confidence in government efforts to manage the coun-try’s markets and economy.

The Shanghai Composite Index sank 3,5 percent at the close, falling more than 20 percent from its December high and sinking below its low during the depths of a $5 trillion rout in August. Friday’s decline was attributed to persistent investor concerns over vola-tility in the yuan and a report that some banks in Shanghai have halted accepting shares of smaller listed companies as collateral for loans.

The selloff is a setback for Chinese authorities, who have been intervening to support both stocks and the yuan after the worst start to a year for mainland markets in at least two decades. As policy makers in Beijing fight to prevent a vicious cycle of capital outflows and a weakening currency, the resulting financial-mar-ket volatility has undermined confidence in their ability to manage the deepest economic

slowdown since 1990.

“Sentiment on the yuan has to stabilize before we see sta-bility returning to the equity market,” said Ronald Wan,

chief executive at Partners Capital International in Hong Kong.

China’s domestic stock market has become one of the most

visible symbols of waning investor confidence in Asia’s largest economy. After cheer-leading by state media helped fuel an unprecedented boom in mainland shares last summer, the market crashed as regula-tors failed to manage a surge in leveraged bets by individual investors.

While a state-sponsored mar-ket rescue campaign sparked a 25 percent rally in the Shang-hai Composite, those gains were wiped out on Friday as the index closed at its lowest level since December 2014. Losses this year were fueled by a controversial circuit-breaker system, blamed for exacerbat-ing declines before authorities scrapped the mechanism four days after its introduction.

Stocks extended losses in the afternoon after International Finance News, a publication managed by the People’s Daily, reported banks will only accept shares of CSI 300 constituents for pledges while cutting the collateral ratio to 35-40 per-cent from 50 percent.

- Bloomberg●

INTERNATIoNAl NEws 13

China stocks enter bear market as state-fueled rally evaporates

By Nigel Gambanga

The diversity that exists among people has meant that there are many preferred ways of expres-sion. That’s the simple principle that has explained the rise of numerous social media platforms that provide different value propositions.

Instagram is one platform that exemplifies that. Its use of imagery and video to capture moments has helped it create its own separate avenue for expres-sion. As is the case with other social media platforms adver-tisers and brand specialist have exploited that.

In the last quarter of 2015, Ins-tagram looked beyond the United States and the developed world and opened up its Instagram Ads feature to countries around the world. The service had been active for a year and a half before that, slowly being extended to just 30 countries before being green lit for the rest of the world.

Instagram’s value for advertising and brand building has been easy

to sell so far. In markets like the United States where it has been actively used for ad campaigns, the Instagram team has been quick to highlight a number of successful campaigns for sales and product visibility.

The platform leads other social networks like Facebook when it comes to engagement with fig-ures from as recently as Septem-ber 2015 showing a per-follower engagement of 4,213 percent ahead of Pinterest, Facebook, and Twitter.

Through the presentation of strong visual cues that include video, photo and carousel views, brands can express various con-cepts through engaging media. The tie in that Instagram also provides with other social net-works through shared posts also helps enhance this visibility to other platforms.

A story told visually can be ported to Facebook, creating interest in other visually com-pelling campaigns that are being carried on Instagram. All this is unfolding in a world where social

media is increasingly driven by image and video.

why isn’t being used it locally?

In Zimbabwe, the case of Ins-tagram has only been explored at the surface mostly because of the limited following that the social media platform has among mobile broadband subscribers.

The high cost of mobile broad-band and Instagram’s exten-sive use of data (the platform is mainly powered by images and videos) doesn’t help the situa-tion either.

When it comes to social media campaigns, local companies and brands have pledged their alle-giance to Facebook which has experienced the highest follow-ing among social media plat-forms. The situation has been amplified by mobile operator products like social media bun-dles that cater for Facebook, WhatsApp and Twitter.

However, in all this there is still some value that can be extracted

from Instagram by Zimbabwean brands. A test on the Insta-gram Ads feature shows that up to 55,000 Zimbabweans can be reached through an ad cam-paign.

These numbers have been enough to sway brands normally active on social media like GTeL, ZOL, Telecel, ZiFM Stereo as well as personalities in the entertain-ment and fashion like Tehn Dia-mond, Jah Prayzah, Winky D and Pokello who also command sig-nificant followings.

Their accounts are a reflection of how far a brand can express itself visually through Instagram, creating a level of character and brand development that isn’t as easily carried on Facebook or Twitter.

As long as brands are consider-ing extensive visual engagement and looking for an avenue that carries depth in the expression of captivating moments that are better viewed than read, then putting effort and resources into Instagram campaign is worth exploring. - TechZim●

14 analysis14 ANAlysIs

why Zimbabwean brands should explore the Instagram opportunity