Opening Zimbabwe’s doors to the...

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Opening Zimbabwe’s doors to the world By: Neville Mandimika Economist – Rand Merchant Bank

Transcript of Opening Zimbabwe’s doors to the...

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Opening Zimbabwe’s doors to the worldBy: Neville Mandimika Economist – Rand Merchant Bank

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Stylized facts: Regional and global integration

1. A rotation away from inward-looking policies

2. Get accustomed to regional relat ive valuations

3. Recoupl ing to global and regional growth dynamics

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RMB DNAINVESTMENT ATTRACTIVENESS SCORE

ECONOMIC ACTIVITY SCORE

OPERATING ENVIRONMENT SCORE

50%50%

Market Size60%

Market Growth 40%

Business Index25% 25%

Global Competitive Index

Corruption Perceptions Index

Economic Freedom Index

25% 25%

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2016 Current

Where does Zimbabwe rank?

39 45Botswana: 12

Zambia: 17

Mozambique: 19

Malawi: 30

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-20

-15

-10

-5

0

5

10

15

20

2000 2003 2006 2009 2012 2015 2018 2021

Botswana Malawi Mozambique Zambia Zimbabwe%

ECONOMIC GROWTH

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MARKET SIZEAngola, 11%

Ethiopia, 7%

Kenya, 7%

igeria, 32%

Zimbabwe, 1%

5101520253035

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US$,bn

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Time to catch upZambia

6.5%

Uganda

7%

Côte d ’ Ivo i re

20%!

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OPERATING ENVIRONMENT

3.0

3.5

4.0

4.5

5.0

5.5

6.0

6.5

7.0

Zim

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Tuni

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Mor

occo

Seyc

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Rwan

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Africa Average• Policy incoherence

• Exchange controls

• Indigenization Act

• Bond notes?

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BOND NOTES – A NEW DAWN?

0.80

1.00

1.20

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1.80

2.00

Aug 16 Nov 16 Feb 17 May 17 Aug 17 Nov 17 Feb 18

USD/BOL - Old Mutual USD/BOL - Bitcoin USD/BOL - PPC

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Elections

Non-credible elections

FDI and portfolio flows

stay on the sidelines

Credible elections

FDI and portfolio flows resume

It’s not who wins but how that matters

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Second Quarter FY2017 Earnings Summary - NSSMC 1.20 1.43 2Q 3Q 4Q 1.00 1.20 1.40 1.60 1.80 2015 2016 2017 * * Key Indicators of Domestic Steel Demand 6 Finished Auto Production (million

Second Quarter FY2017 Earnings Summary - NSSMC 1.20 1.43 2Q 3Q 4Q 1.00 1.20 1.40 1.60 1.80 2015 2016 2017 * * Key Indicators of Domestic Steel Demand 6 Finished Auto Production (million

ZIMBABWE’S AGRICULTURAL REVOLUTION REVISITED

ZIMBABWE’S AGRICULTURAL REVOLUTION REVISITED

serviço de entregas ao domicilio - cdn.website.dish.co · ALHEIRA NO FORNO 5.50 € ... PÃO DE ALHO SIMPLES 1.00 € PÃO DE ALHO C/ QUEIJO 1.60 € PÃO DE ALHO C/ QUEIJO 1.80

serviço de entregas ao domicilio - cdn.website.dish.co · ALHEIRA NO FORNO 5.50 € ... PÃO DE ALHO SIMPLES 1.00 € PÃO DE ALHO C/ QUEIJO 1.60 € PÃO DE ALHO C/ QUEIJO 1.80

Uncovering Zimbabwe’s debt - Kubatanaarchive.kubatana.net/docs/econ/zimeuro_uncover_zim_debt_111130.pdf · Uncovering Zimbabwe’s debt Uncovering Zimbabwe’s debt. For the last

Uncovering Zimbabwe’s debt - Kubatanaarchive.kubatana.net/docs/econ/zimeuro_uncover_zim_debt_111130.pdf · Uncovering Zimbabwe’s debt Uncovering Zimbabwe’s debt. For the last

May 2018 Investor Meetings - Exelon...Exelon Utilities EPS* Growth of 6-8% to 2021 $1.80 $2.00 $1.60 $2.10 $0.00 $1.70 $2.20 $1.50 $1.90 $2.00 2021E $2.20 2020E $2.10 2018E 2019E $1.80

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WEBABILIS · 2017. 8. 30. · REP 220 REP REP 280 REP350 lar. trab. 1.20 mt. 1.60 2.00 mt prof. 1.30m 1.80 m 2.20 m 3.50 m grupo hidr. descentramento REP260 1.80 2600 3200 Bloq Bloq.

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LP Bf Lollar - rp-giessen.hessen.de Bf Lollar... · 125,8 125,9 126,0 2.40 2,0 % 2.40 2.50 2.50 2.50 2.40 Kabeltrasse Kabeltrasse Kabeltrasse 1.80 1.60 Lageplan Bahnhof Lollar M 1:

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straatnaam en nummer 1 - Trefpuntkerk Nieuwbouw...straatnaam en nummer 3 8.82 m 3.00 m 3.00 m 3.47 m 2.66 m 1.76 m 1.80 m 2.50 m 0.83 m 1.80 m 1.23 m 1.20 m 0.90 m 1.80 m 2.72 m 1.60

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GT World Challenge Europe Sprint Cup...Pboost Limits table for Turbo cars MOTORSPORTS GROUP Bentley Continental GT3 Pboost limit barA 2.02 2.00 1.90 1.80 1.70 1.60 1.50 McLaren MP412c

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1.80 1,800 1.60 1,600 Best World International (BEST SP ...

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Overview of Zimbabwe’s Mining Sector

Overview of Zimbabwe’s Mining Sector

NSB G-2200apollobatteri.com/PDFbatinfo/NSB%2520G-2200.pdfA1200 PERFORMANCE TABLES @ 77˚F Current / A Capacity / Ah Power / W per cell Mins Hours 1.85 1.80 1.75 1.70 1.67 1.65 1.60

NSB G-2200apollobatteri.com/PDFbatinfo/NSB%2520G-2200.pdfA1200 PERFORMANCE TABLES @ 77˚F Current / A Capacity / Ah Power / W per cell Mins Hours 1.85 1.80 1.75 1.70 1.67 1.65 1.60

Имя, Фамилия Принадлежность Времяuzathletics.uz/f/zhenshchiny.pdf · 1.45 1.50 1.55 1.60 1.65 1.70 1.75 1.80 1.84 ppp ppp ppp ppp ppp o o o o 1.88 xxx

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Retotub - Systèmes d'étaiement de sécurité et d'échafaudages – … · 2016. 7. 22. · Ep. dalle (m) 1.00 1.10 1.20 1.30 1.40 1.50 1.60 1.70 1.80 090 110 150 170 090 110 150

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EXIGÊNCIAS FUNCIONAIS DEearpe/conteudos/TPPC/... · Existência e tipo de revestimentos ... exteriores verticais 1.80 1.60 1.45 - ... Refere-se a rejeição de determinados tipos

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2.626 Fundamentals of Photovoltaics€¦ · 20 $0.79–$0.91 $1.06 $1.20 $1.51 $1.56 $1.85 $1.98 $0.60 $0.80 $1.00 $1.20 $1.40 $1.60 $1.80 $2.00 $2.20 Current cost Slurry recycle

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Uncovering Zimbabwe’s debt - Startseite - erlassjahr.deerlassjahr.de/.../2016/03/ZIM_Uncovering_Zimbabwes_debt.pdfUncovering Zimbabwe’s debt By Tim Jones, Jubilee Debt Campaign

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